Asia Pacific Blood Glucose Test Strip Packaging Market Research Repor Cutting Tools Market | Page 2

cemented carbide segment is the most lucrative segment due to the growing use of cemented
carbide for cutting hard material.
Applications for cutting tools can be found in automotive, construction, aerospace & defense,
electronics, oil & gas, power generation, wood & die, and mold. The automotive segment
accounts for the most significant share due to the sheer size of this sector and the important
use of cutting tools in the automotive manufacturing process.
Regional Analysis
The Asia Pacific is projected to have the most significant share of the market during the
assessment period. The region accounts for over a third of the total share of the market. The
regions economic boom with a focus in construction and manufacturing activities have been
highly lucrative for market players operating in the APAC. Countries such as India and China are
the leading country-level markets with large manufacturing sectors. Moreover, increasing
disposable income has led to the increased demand for construction, automotive, electronics,
furniture and several others which use cutting tools, thus increasing the consumption of cutting
tools. The APAC is expected to grow at a CAGR of 6.98% during the review period. North
America, which is led by the US is also a significant market for the global cutting tools market
due to the presence of strong constructed structures in the US and the presence of market
players who are actively involved in innovations of existing tools. Moreover, investments in
aerospace, aircraft manufacturing, and automotive are expected to increase further the
demand for cutting tools in the North American market.
Notable Market Players Included In MRFR’s Competitive Analysis Are:
Makita Corporation, CERATIZIT Group, FRAISA SA, Hilti Corporation, Hitachi Koki Co. Ltd. ,
KYOCERA Cutting Tools Group, Stanley Black & Decker, Inc., Vollmer, J SCHNEEBERGER
Maschinen AG, Snap-on Inc., Sandvik AG, ICS Cutting Tools Inc., Ingersoll Cutting Tools, OTTO
BAIER GmbH, Asahi Diamond Industrial Co. Ltd., and Klein Tools, Inc.
Browse Full Report on Cutting Tools Market @
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Continued…….
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