Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Cutting Tools Market_5.02_Anushree | Page 2

The large-scale manufacturing sectors such as aerospace, wood, and electronics are
contributing the lion's share in the market, resultantly, making to rise high with a valuation
of USD 16,700 Mn by the end of 2023.
Market Segmentation
The MRFR report delivers a detailed and cohesive analysis of the cutting tools market on
segments such as material type, application type, and tool type.
By material type, the market has been segmented into high-speed steel, stainless steel,
cubic boron nitride, cemented carbide, ceramics, polycrystalline diamond, exotic materials.
By application, the market share is high in the areas such as aerospace & defense, oil & gas,
wood, die and mold, automotive, electronics, construction and power generation.
By tool type, the market has been segmented into indexable inserts and solid round tools.
Regional Analysis
The report studies highlight of the global cutting tools market share for North America,
Europe, Asia Pacific (APAC) and Rest of the World (ROW).
Of these, the Asia Pacific region is projected to have the highest market share during the
forecast period due to the booming economic status in construction and manufacturing
activities, which have been lucrative in the recent years. India and China are the leading
countries for the same. The APAC is expected to grow at a CAGR of 6.98% during the review
period.
Whereas, North America also has a significant share in the growth of cutting tools market
due to abundance of strong constructed structures and organizations actively investing in
innovation of existing tools.
Market Players
Major player operating in the market are Makita Corporation, Sandvik AG, FRAISA SA,
KYOCERA Cutting Tools Group, Asahi Diamond Industrial Co. Ltd., and Stanley Black &
Decker, Inc. Other major players are Robert Bosch GmbH, Klein Tools, Inc., ICS Cutting Tools,
Inc., Snap-on, OTTO BAIER GmbH, Hilti Corporation, Ingersoll Cutting Tools, J
SCHNEEBERGER Maschinen AG, Vollmer, CERATIZIT Group and Hitachi Koki Co. Ltd.
Industry News
March 2017: Stanley Black & Decker, Inc. completes acquisition of Newell Brands tools
business to expand the product portfolio.
April 2017: Hilti Corporation announced new 22 V tool line.
Browse Full Report on “Cutting Tools Market Research Report – Forecast to 2023”@
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