Hi, what are you looking for?
A new Future Market Insights (FMI) study forecasts robust growth prospects for the global carbide tools market, prominently driven by fostering rate of adoption for automotive and fabrication applications. Sales in the global carbide tools market are slated to top US$ 7.0 Bn in 2022. Expanding at a healthy 7.2% CAGR, the market size is projected to total US$ 10.7 Bn by 2029.
Estimated at a healthy Y-o-Y growth of 6.4%, global revenues of carbide tools market are set to exceed US$ 7 billion in 2022. FMI’s analysis concludes that mills and drills collectively account for just-under 60% share in the total revenue generated through carbide tools sales.
According to the report, drills and mills will continue to be the most popular carbide tool types. Carbide drills, on the other hand, appear to have an advantage over carbide mills due to higher adoption for automotive applications, particularly those related to automotive engines.
Request Sample Report @ https://www.futuremarketinsights.com/reports/sample/rep-gb-1775
According to the report, the latter are expected to gain prominence in fabrication. Furthermore, rising demand for thermal deburring applications is expected to boost carbide burr sales in the near future.
Based on FMI’s analysis, most of the carbide tools that are sold have machine-based configuration. The report highlights significant opportunities in automatic machines or lathe machines. Convenient handling and operation, high-speed compatibility, and superior proficiency will remain the key determining factors rendering higher preference for machine-based over hand-based configuration.
Almost 90% of carbide tools are coated, which affirm their improved performance over non-coated counterparts. Despite a high price point associated with the former, FMI anticipates that the revenue of coated tools will remain dominant over non-coated tools, as performance has become the paramount. Adoption for woodworking applications will sustain sales of non-coated carbide tools.
Escalating utilization of carbide tools for job-shop applications in metal fabrication, general automotive applications, and high-speed cutting applications will predominantly push sales prospects of carbide tools, as per FMI’s research.
Customization Before Buying, Visit @ https://www.futuremarketinsights.com/customization-available/rep-gb-1775
While adoption of carbide tools for automotive and fabrication end use applications holds more than 55% share in the total market revenue, growing adoption by heavy machinery manufacturers is also underpinning significant revenue generation in carbide tools market.
Europe has been spearheading the expansion of carbide tools market, which is likely to receive strong support from towering sales of EVs in the region. The report underscores remarkable contribution of China and India to the global market revenue.
Spectacular growth of the automotive components and metal fabrication industries has been instrumental in fueling the use of carbide tools within high-potential developing Asian economies, particularly China and India. Rapid automation of metal fabrication applications is cited as a predominant booster to adoption rate of carbide tools within the aforementioned countries.
According to the report, the collective share of China and India currently equates just-under a fourth of the global value, likely to thrive at a robust pace in the years to come.
Request Pdf Brochure @ https://www.futuremarketinsights.com/reports/brochure/rep-gb-1775
FMI has covered detailed market structure in the carbide tools market report, which includes some of the most prominent players such as KYOCERA Corporation, YG-1 Co., Ltd., Mitsubishi Materials Corporation, Allied Machine & Engineering Corp., OSG Corporation, Fullerton Tool Company, Sumitomo Electric Hartmetall GmbH, and others.
The global market for carbide tools is a highly fragmented landscape and FMI has characterized the space by moderate competition. Established brands such as IMC Group and Sandvik AB have been facing challenges related to profit margins owing to promising entry of new market players. While entrants are likely to maintain their focus on economics costs during new product launches, leading companies will continue to prioritize expansion.
Talk with our expert @ https://www.futuremarketinsights.com/ask-question/rep-gb-1775
Carbide Tools Market By Category
Explore wide-ranging Coverage of FMI’s Industrial Automation Market Insights Landscape:
Tool Holders Market: The global tool holders market to grow with a year on year growth of 5.2% in 2022 reaching a value of about US$ 1,173.4 Mn by 2022 end.
Hand Tools Market: The global sales of hand tools are anticipated to grow at a CAGR of 5.9% during the period of 2022 and 2032.
India Power Tool Market: India power tools market is anticipated to register healthy CAGR of 8.9% in terms of value, and 9.5% in terms of volume over the forecast period (2016–2026)
Europe Woodworking Power Tools Market: Germany is the largest market for woodworking power tools in Europe, and will account for an estimated 14.4% of the overall market share by 2030.
Adoption of Benelux Power Tools Market: Benelux power tools market is anticipated to register healthy CAGR of 3.9% in terms of value and 2.2% in terms of volume over the forecast period (2016–2026).
About Us Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 7-years.
Contact: Unit No: 1602-006 Jumeirah Bay 2 Plot No: JLT-PH2-X2A Jumeirah Lakes Towers Dubai United Arab Emirates For Sales Enquiries: [email protected] Latest Report: https://www.futuremarketinsights.com/reports/ LinkedIn| Twitter| Blogs
The post Global Carbide Tools Market Size Is Projected To Total US$ 10.7 Bn By 2029, Future Market Insights Inc. appeared first on Future Market Insights.
Less obvious is exactly how well-balanced this vast range of credit plays and Big Capital can possibly be.
Wearing headphones and anti-sweat finger sleeves, gamers from eight countries guided gun-toting avatars through the Saudi battle royale.
Canada launched a long-awaited review of its cannabis regulations four years after legalizing its recreational use.
A common problem with collaboration is that too many participants come together. While an immediate solution to this is often to limit participation, it’s...
COPYRIGHT © 1998 - 2022 DIGITAL JOURNAL INC. Sitemaps: XML / News . Digital Journal is not responsible for the content of external sites. Read more about our external linking.