Press release
Future outlook of Global high speed steels market Industry by Analysts and know what to expect from this Industry along with Growth Impact and Demand Till 2024
High Speed Steels
Market Analysis
The global high speed steels market accounted for USD 2.20billion in 2016 and is projected to grow at a CAGR of 5.5% during the forecast period of 2017 to 2024. The upcoming market report contains data for historic years 2014, 2015, the base year of calculation is 2016 and the forecast period is 2017 to 2024.
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Market Definition
High speed steels are high-performance special steels offering high hardness at temperatures up to 500°C and high wear resistance. These properties are courtesy alloying elements such as tungsten, molybdenum, vanadium and chromium which are able to form carbides.Growing demand for high speed steels in automotive, plastic, aerospace and energy sectorsare expected to be major drivers of the market over the next seven years.
Global High Speed Steels Market, By End-Use Industry (Automotive, Plastic, Aerospace, Energy, Others), By Product Type {Metal Cutting Tools (Drill Bits, Broaches & Reamers, Taps, End Mills), Cold Working Tools (Blanking & Fine Blanking Tools, Extrusion Tools, Drawing & Deep Drawing Tools, Others)},–Industry Trends and Forecast to 2024
Market Drivers and Restraints
• Increasing demand for high speed steels for manufacturing cutting tools
• Growing awareness about the advantages of high speed steel
• Demand of high speed steels in the shipbuilding and energy sectors
Market Restraint:
• Increasing use of alternatives such as carbide-based cutting tools in energy and automotive industries
Market Segmentation
The high speed steels market is segmented on the basis of product type into
• metal cutting tools,
• cold working tools
Metal cutting tools are further sub segmented into drill bits, broaches & reamers, taps and end mills. Cold working tools are further sub segmented into blanking & fine blanking tools, extrusion tools, drawing & deep drawing tools and others.
On the basis of application, the market is segmented into
• coatings,
• construction,
• adhesives,
• composites,
• wind energy,
• electrical & electronics
On the basis of geography, the high speed steels market report covers data points for 28 countries across multiple geographies such as
• North America,
• South America,
• Europe,
• Asia-Pacific and
• Middle East & Africa
Some of the major countries covered in this report are U.S., Canada, Germany, France, U.K., Netherlands, Switzerland, Turkey, Russia, China, India, South Korea, Japan, Australia, Singapore, Saudi Arabia, South Africa, and Brazil among others.
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Competitive Landscape
The global high speed steels market is fragmented with the presence of a large number of players across different regions. These major players have adopted various organic as well as inorganic growth strategies such as mergers & acquisitions, new product launches, expansions, agreements, joint ventures, partnerships, and others to strengthen their position in this market.
Top Competitors of Market:
• Nachi-Fujikoshi Corporation,
• Daido Steel Co., Ltd.,
• Voestalpine AG,
• Sandvik Materials Technology AB,
• Kennametal Inc.,
• Hudson Tool Steel Corporation,
• Erasteel,
• Friedr. Lohmann GmbH,
• Arcelormittal S.A.,
• Crucible Industries LLC,
• Dneprospetsstal,
• Jiangsu Fuda Special Steel Co., Ltd,
• Feida Group,
• West Yorkshire Steel Co. Ltd.,
• Thyssenkrupp AG,
• Tiangong International Co., Ltd.,
• Guhring Inc.,
• Heye Special Steel Co., Ltd.,
• Nippon Koshuha Steel Co., Ltd.,
• OSG Corporation,
• Carpenter,
• Graphite India Limited,
• Tivoly SA,
• Big Kaiser Precision Tooling Inc.,
• Onsurdand.
Frequently Asked Questions?
• What will the market size be in 2024?
• What are the key factors driving the global market?
• What are the challenges to market growth?
• Who are the key players in the market?
• What are the market opportunities and threats faced by the key players?
• What will be the growth rate in 2024?
• Which strategies are used by top players in the Global High Speed Steels Market?
For Customized Reports and Discounts, Mail us @ sopan.gedam@databridgemarketresearch.com
Market Drivers and Restraints
• Increasing demand for high speed steels for manufacturing cutting tools
• Growing awareness about the advantages of high speed steel
• Demand of high speed steels in the shipbuilding and energy sectors
Market Restraint:
• Increasing use of alternatives such as carbide-based cutting tools in energy and automotive industries
About Data Bridge Market Research:
Data Bridge Market Research set forth itself as an unconventional and neoteric Market research and consulting firm with unparalleled level of resilience and integrated approaches. We are determined to unearth the best market opportunities and foster efficient information for your business to thrive in the market. Data Bridge endeavors to provide appropriate solutions to the complex business challenges and initiates an effortless decision-making process.
Contact:
Data Bridge Market Research
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Email: sopan.gedam@databridgemarketresearch.com
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