Turning tools consist of a replaceable insert in its body, and the insert can vary, based on shape, material, geometry, and coating. Turning tools are probably used in every manufacturing industry. It is very important part of manufacturing and industrial operations. Increasing demand to develop superior-quality products is driving the growth of the market. Moreover, automation in the industrial sector to improve the production efficiency is also the major factor fuelling the demand of the market. However, rise in popularity of electrical discharge and electrochemical machining is the factor that may hamper the growth of the market.
The Turning Tools Market is projected to grow at a CAGR of approximately 6.9% from 2017 to 2023.
Study Objectives of Global Turning Tools Market:
Asia-Pacific region dominates the global turning tools market. Continuously growing automotive, and manufacturing sector in countries like China and India driving the growth of the market in APAC region. This region is expected to show the fastest growth during the forecast period. Automation in automotive and mining industry boost demand of the market in European region.
The key players of turning tools market are Ingersoll Cutting Tool Company (U.S.), Sandvik Group (Sweden), Mikron Tool SA Agno (Switzerland), NTK Cutting Tools (Japan), WNT Tools India Pvt Ltd. (India), Kennametal Foundation (U.S.), Hanjiang Tool Co., Ltd. (China), Shanghai Tool Works Co.,Ltd. (China), Union Tool Corporation (Japan) and ISCAR LTD. (Israel).
The report for Global Turning Tools Market of Market Research Future comprises of extensive primary research along with the detailed analysis of qualitative as well as quantitative aspects by various industry experts, key opinion leaders to gain the deeper insight of the market and industry performance. The report gives the clear picture of current market scenario which includes historical and projected market size in terms of value, technological advancement, macro economical and governing factors in the market. The report provides details information and strategies of the top key players in the industry. The report also gives a broad study of the different market segments and regions.
Frequently Asked Questions (FAQ) :
Turning tools market is projected to grow at a 6.9% CAGR between 2017-2023.
The Asia Pacific is expected to have the largest share in the turning tools market.
Boring type segment will dominate the turning tools market.
Rising construction activities and increasing use in automotive industry are the key factors driving the turning tools market.
Growing popularity of electrical discharge may limit the turning tools market growth.
Table of Contents
1 Executive Summary
2 Research Methodology
2.1 Scope of the Study
2.1.2 Research Objective
2.2 Research Process
2.2.1 Primary Research
2.2.2 Secondary Research
2.3 Market size Estimation
2.4 Forecast Model
3 Market Dynamics
3.1 Market Drivers
3.2 Market Inhibitors
3.3 Supply/Value Chain Analysis
3.4 Porter’s Five Forces Analysis
4 Global Turning Tools Market, By Product Type
5 Regional Market Analysis
5.2 North America
5.3.5 Rest of Europe
5.4.4 Rest of Asia-Pacific
5.5 Rest of the World
6 Competitive Analysis
6.2 Competitive Scenario
6.2.1 Market Share Analysis
6.2.2 Market Development Analysis
6.2.3 Product/Service Benchmarking
6.3 Ingersoll Cutting Tool Company
6.3.2 Product/Service Offering
6.4 Sandvik Group
6.4.2 Product/Service Offering
6.5 Mikron Tool SA Agno
6.5.2 Product/Service Offering
6.6 NTK Cutting Tools
6.6.2 Product/Service Offering
6.6 WNT Tools India Pvt Ltd.
6.6.2 Product/Service Offering
6.8 Kennametal Foundation
6.8.2 Product/Service Offering
6.9 Hanjiang Tool Co., Ltd.
6.9.2 Product/Service Offering
6.10 Shanghai Tool Works Co.,Ltd.
6.10.2 Product/Service Offering
6.11 Union Tool Corporation
6.11.2 Product/Service Offering
6.12 ISCAR LTD. (Israel)
6.12.2 Product/Service Offering
LIST OF TABLES
TABLE 1 GLOBAL TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 2 GLOBAL TURNING TOOLS MARKET, BY REGIONS
TABLE 3 NORTH AMERICA TURNING TOOLS MARKET, BY COUNTRY
TABLE 4 NORTH AMERICA TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 5 U.S. TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 6 CANADA TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 7 EUROPE TURNING TOOLS MARKET, BY COUNTRY
TABLE 8 EUROPE TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 9 GERMANY TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 10 FRANCE TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 11 U.K. TURNING TOOLS MARKETS, BY PRODUCT TYPE
TABLE 12 SPAIN TURNING TOOLS MARKETS, BY PRODUCT TYPE
TABLE 12 REST OF EUROPE TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 14 ASIA-PACIFIC TURNING TOOLS MARKET, BY COUNTRY
TABLE 15 ASIA-PACIFIC TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 16 CHINA TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 17 JAPAN TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 18 INDIA TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 19 REST OF ASIA-PACIFIC TURNING TOOLS MARKET, BY PRODUCT TYPE
TABLE 20 RoW TURNING TOOLS MARKET, BY PRODUCT TYPE
LIST OF FIGURES
FIGURE 1 RESEARCH PRODUCT TYPE
FIGURE 2 GLOBAL TURNING TOOLS MARKET: BY PRODUCT TYPE(%)
FIGURE 3 GLOBAL TURNING TOOLS MARKET: BY REGION
FIGURE 4 NORTH AMERICA TURNING TOOLS MARKET, BY PRODUCT TYPE(%)
FIGURE 5 EUROPE TURNING TOOLS MARKET, BY PRODUCT TYPE(%)
FIGURE 6 ASIA-PACIFIC TURNING TOOLS MARKET, BY PRODUCT TYPE(%)
FIGURE 7 ROW TURNING TOOLS MARKET, BY PRODUCT TYPE(%)