Need help finding what you are looking for?
Contact Us
PUBLISHER: IMARC | PRODUCT CODE: 1800922
PUBLISHER: IMARC | PRODUCT CODE: 1800922
High Speed Steel Cutting Tools Market Report by Type, Technology (Conventional, CNC ), End Use Industry, and Region 2025-2033
PUBLISHED:
PAGES: 140 Pages
DELIVERY TIME: 2-3 business days
SELECT AN OPTION
The global high speed steel cutting tools market size reached USD 9.2 Billion in 2024. Looking forward, IMARC Group expects the market to reach USD 12.4 Billion by 2033, exhibiting a growth rate (CAGR) of 3.23% during 2025-2033.
High speed steel (HSS) cutting tools refer to various mechanical equipment used for milling, tapping, drilling, cutting, shaping, grinding, boring and casting steel products. Some of the commonly used HSS cutting tools include drill bits, solid boring bars, chasers, counterbores, countersinks, extractors, knurls, saw blades, taps and end mills. In comparison to their traditional counterparts, HSS cutting tools use particle metallurgy, have improved design, operate at a high cutting speed, can function under extreme temperatures and are resistant to corrosion and wear and tear. As a result, they find extensive applications across various industries, such as oil & gas, automotive, marine, aerospace, defense and energy and power.
Significant growth in the manufacturing industry across the globe represents one of the key factors creating a positive impact on the market. HSS cutting tools are crucial for uniformity in the quality of products during mass production and high-temperature operations. Furthermore, the widespread adoption of these tools in the automotive industry is providing a thrust to the market growth. Due to their high precision, durability, and repeatability, they are used for milling, grinding and broaching various automobile components. Additionally, various product innovations, such as the development of novel coating technologies for the tools and the manufacturing of bits with adjustable composition, are also contributing to the market growth. The market players are also integrating cutting tools with the internet-of-things (IoT), and offering tools with minimal vibrations, increased precision and higher speeds. Other factors, including the increasing investments in the metalworking industries and the advent of industry 4.0, are anticipated to drive the market further.
Key Market Segmentation:
Breakup by Type:
- Milling
- Drilling
- Tapping
- Reaming and Counterboring
- Broaching
- Others
Breakup by Technology:
- Conventional
- CNC (Computerized Numerical Control)
Breakup by End Use Industry:
- Automotive
- Aerospace and Defense
- Oil and Gas
- Energy and Power
- Marine
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Competitive Landscape:
The report has also analysed the competitive landscape of the market with some of the key players being Addison & Co. Ltd. (Amalgamations Group), Big Kaiser Precision Tooling Inc. (Heinz Kaiser AG), Black & Decker Corporation (Stanley Black & Decker Inc.), Erasteel Inc. (Eramet-SLN), Kennametal Inc., Nachi America Inc. (Nachi-Fujikoshi Corp.), Niagara Cutter LLC (Seco Tools AB), OSG Korea Corporation, Sandvik AB and Sumitomo Electric Industries.
Key Questions Answered in This Report:
- How has the global high speed steel cutting tools market performed so far and how will it perform in the coming years?
- What has been the impact of COVID-19 on the global high speed steel cutting tools market?
- What are the key regional markets?
- What is the breakup of the market based on the type?
- What is the breakup of the market based on the technology?
- What is the breakup of the market based on the end use industry?
- What are the various stages in the value chain of the industry?
- What are the key driving factors and challenges in the industry?
- What is the structure of the global high speed steel cutting tools market and who are the key players?
- What is the degree of competition in the industry?
Product Code: SR112025A3727
Table of Contents
1 Preface
2 Scope and Methodology
- 2.1 Objectives of the Study
- 2.2 Stakeholders
- 2.3 Data Sources
- 2.3.1 Primary Sources
- 2.3.2 Secondary Sources
- 2.4 Market Estimation
- 2.4.1 Bottom-Up Approach
- 2.4.2 Top-Down Approach
- 2.5 Forecasting Methodology
3 Executive Summary
4 Introduction
- 4.1 Overview
- 4.2 Key Industry Trends
5 Global High Speed Steel Cutting Tools Market
- 5.1 Market Overview
- 5.2 Market Performance
- 5.3 Impact of COVID-19
- 5.4 Market Forecast
6 Market Breakup by Type
- 6.1 Milling
- 6.1.1 Market Trends
- 6.1.2 Market Forecast
- 6.2 Drilling
- 6.2.1 Market Trends
- 6.2.2 Market Forecast
- 6.3 Tapping
- 6.3.1 Market Trends
- 6.3.2 Market Forecast
- 6.4 Reaming and Counterboring
- 6.4.1 Market Trends
- 6.4.2 Market Forecast
- 6.5 Broaching
- 6.5.1 Market Trends
- 6.5.2 Market Forecast
- 6.6 Others
- 6.6.1 Market Trends
- 6.6.2 Market Forecast
7 Market Breakup by Technology
- 7.1 Conventional
- 7.1.1 Market Trends
- 7.1.2 Market Forecast
- 7.2 CNC (Computerized Numerical Control)
- 7.2.1 Market Trends
- 7.2.2 Market Forecast
8 Market Breakup by End Use Industry
- 8.1 Automotive
- 8.1.1 Market Trends
- 8.1.2 Market Forecast
- 8.2 Aerospace and Defense
- 8.2.1 Market Trends
- 8.2.2 Market Forecast
- 8.3 Oil and Gas
- 8.3.1 Market Trends
- 8.3.2 Market Forecast
- 8.4 Energy and Power
- 8.4.1 Market Trends
- 8.4.2 Market Forecast
- 8.5 Marine
- 8.5.1 Market Trends
- 8.5.2 Market Forecast
- 8.6 Others
- 8.6.1 Market Trends
- 8.6.2 Market Forecast
9 Market Breakup by Region
- 9.1 North America
- 9.1.1 United States
- 9.1.1.1 Market Trends
- 9.1.1.2 Market Forecast
- 9.1.2 Canada
- 9.1.2.1 Market Trends
- 9.1.2.2 Market Forecast
- 9.1.1 United States
- 9.2 Asia Pacific
- 9.2.1 China
- 9.2.1.1 Market Trends
- 9.2.1.2 Market Forecast
- 9.2.2 Japan
- 9.2.2.1 Market Trends
- 9.2.2.2 Market Forecast
- 9.2.3 India
- 9.2.3.1 Market Trends
- 9.2.3.2 Market Forecast
- 9.2.4 South Korea
- 9.2.4.1 Market Trends
- 9.2.4.2 Market Forecast
- 9.2.5 Australia
- 9.2.5.1 Market Trends
- 9.2.5.2 Market Forecast
- 9.2.6 Indonesia
- 9.2.6.1 Market Trends
- 9.2.6.2 Market Forecast
- 9.2.7 Others
- 9.2.7.1 Market Trends
- 9.2.7.2 Market Forecast
- 9.2.1 China
- 9.3 Europe
- 9.3.1 Germany
- 9.3.1.1 Market Trends
- 9.3.1.2 Market Forecast
- 9.3.2 France
- 9.3.2.1 Market Trends
- 9.3.2.2 Market Forecast
- 9.3.3 United Kingdom
- 9.3.3.1 Market Trends
- 9.3.3.2 Market Forecast
- 9.3.4 Italy
- 9.3.4.1 Market Trends
- 9.3.4.2 Market Forecast
- 9.3.5 Spain
- 9.3.5.1 Market Trends
- 9.3.5.2 Market Forecast
- 9.3.6 Russia
- 9.3.6.1 Market Trends
- 9.3.6.2 Market Forecast
- 9.3.7 Others
- 9.3.7.1 Market Trends
- 9.3.7.2 Market Forecast
- 9.3.1 Germany
- 9.4 Latin America
- 9.4.1 Brazil
- 9.4.1.1 Market Trends
- 9.4.1.2 Market Forecast
- 9.4.2 Mexico
- 9.4.2.1 Market Trends
- 9.4.2.2 Market Forecast
- 9.4.3 Others
- 9.4.3.1 Market Trends
- 9.4.3.2 Market Forecast
- 9.4.1 Brazil
- 9.5 Middle East and Africa
- 9.5.1 Market Trends
- 9.5.2 Market Breakup by Country
- 9.5.3 Market Forecast
10 SWOT Analysis
- 10.1 Overview
- 10.2 Strengths
- 10.3 Weaknesses
- 10.4 Opportunities
- 10.5 Threats
11 Value Chain Analysis
12 Porters Five Forces Analysis
- 12.1 Overview
- 12.2 Bargaining Power of Buyers
- 12.3 Bargaining Power of Suppliers
- 12.4 Degree of Competition
- 12.5 Threat of New Entrants
- 12.6 Threat of Substitutes
13 Price Analysis
14 Competitive Landscape
- 14.1 Market Structure
- 14.2 Key Players
- 14.3 Profiles of Key Players
- 14.3.1 Addison & Co. Ltd. (Amalgamations Group)
- 14.3.1.1 Company Overview
- 14.3.1.2 Product Portfolio
- 14.3.2 Big Kaiser Precision Tooling Inc. (Heinz Kaiser AG)
- 14.3.2.1 Company Overview
- 14.3.2.2 Product Portfolio
- 14.3.3 Black & Decker Corporation (Stanley Black & Decker Inc.)
- 14.3.3.1 Company Overview
- 14.3.3.2 Product Portfolio
- 14.3.4 Erasteel Inc. (Eramet-SLN)
- 14.3.4.1 Company Overview
- 14.3.4.2 Product Portfolio
- 14.3.4.3 Financials
- 14.3.5 Kennametal Inc.
- 14.3.5.1 Company Overview
- 14.3.5.2 Product Portfolio
- 14.3.5.3 Financials
- 14.3.5.4 SWOT Analysis
- 14.3.6 Nachi America Inc. (Nachi-Fujikoshi Corp.)
- 14.3.6.1 Company Overview
- 14.3.6.2 Product Portfolio
- 14.3.7 Niagara Cutter LLC (Seco Tools AB)
- 14.3.7.1 Company Overview
- 14.3.7.2 Product Portfolio
- 14.3.8 OSG Korea Corporation
- 14.3.8.1 Company Overview
- 14.3.8.2 Product Portfolio
- 14.3.9 Sandvik AB
- 14.3.9.1 Company Overview
- 14.3.9.2 Product Portfolio
- 14.3.9.3 Financials
- 14.3.9.4 SWOT Analysis
- 14.3.10 Sumitomo Electric Industries
- 14.3.10.1 Company Overview
- 14.3.10.2 Product Portfolio
- 14.3.10.3 Financials
- 14.3.10.4 SWOT Analysis
- 14.3.1 Addison & Co. Ltd. (Amalgamations Group)
Product Code: SR112025A3727
List of Figures
- Figure 1: Global: High Speed Steel Cutting Tools Market: Major Drivers and Challenges
- Figure 2: Global: High Speed Steel Cutting Tools Market: Sales Value (in Billion USD), 2019-2024
- Figure 3: Global: High Speed Steel Cutting Tools Market: Breakup by Type (in %), 2024
- Figure 4: Global: High Speed Steel Cutting Tools Market: Breakup by Technology (in %), 2024
- Figure 5: Global: High Speed Steel Cutting Tools Market: Breakup by End Use Industry (in %), 2024
- Figure 6: Global: High Speed Steel Cutting Tools Market: Breakup by Region (in %), 2024
- Figure 7: Global: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Billion USD), 2025-2033
- Figure 8: Global: High Speed Steel Cutting Tools (Milling Tools) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 9: Global: High Speed Steel Cutting Tools (Milling Tools) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 10: Global: High Speed Steel Cutting Tools (Drilling Tools) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 11: Global: High Speed Steel Cutting Tools (Drilling Tools) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 12: Global: High Speed Steel Cutting Tools (Tapping Tools) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 13: Global: High Speed Steel Cutting Tools (Tapping Tools) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 14: Global: High Speed Steel Cutting Tools (Reaming and Counterboring Tools) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 15: Global: High Speed Steel Cutting Tools (Reaming and Counterboring Tools) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 16: Global: High Speed Steel Cutting Tools (Broaching Tools) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 17: Global: High Speed Steel Cutting Tools (Broaching Tools) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 18: Global: High Speed Steel Cutting Tools (Other Types) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 19: Global: High Speed Steel Cutting Tools (Other Types) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 20: Global: High Speed Steel Cutting Tools (Conventional Cutting Technology) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 21: Global: High Speed Steel Cutting Tools (Conventional Cutting Technology) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 22: Global: High Speed Steel Cutting Tools (CNC Cutting Technology) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 23: Global: High Speed Steel Cutting Tools (CNC Cutting Technology) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 24: Global: High Speed Steel Cutting Tools (Automotive) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 25: Global: High Speed Steel Cutting Tools (Automotive) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 26: Global: High Speed Steel Cutting Tools (Aerospace and Defense) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 27: Global: High Speed Steel Cutting Tools (Aerospace and Defense) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 28: Global: High Speed Steel Cutting Tools (Oil and Gas) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 29: Global: High Speed Steel Cutting Tools (Oil and Gas) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 30: Global: High Speed Steel Cutting Tools (Energy and Power) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 31: Global: High Speed Steel Cutting Tools (Energy and Power) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 32: Global: High Speed Steel Cutting Tools (Marine) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 33: Global: High Speed Steel Cutting Tools (Marine) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 34: Global: High Speed Steel Cutting Tools (Other End Use Industries) Market: Sales Value (in Million USD), 2019 & 2024
- Figure 35: Global: High Speed Steel Cutting Tools (Other End Use Industries) Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 36: North America: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 37: North America: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 38: United States: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 39: United States: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 40: Canada: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 41: Canada: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 42: Asia Pacific: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 43: Asia Pacific: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 44: China: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 45: China: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 46: Japan: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 47: Japan: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 48: India: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 49: India: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 50: South Korea: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 51: South Korea: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 52: Australia: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 53: Australia: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 54: Indonesia: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 55: Indonesia: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 56: Others: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 57: Others: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 58: Europe: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 59: Europe: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 60: Germany: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 61: Germany: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 62: France: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 63: France: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 64: United Kingdom: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 65: United Kingdom: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 66: Italy: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 67: Italy: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 68: Spain: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 69: Spain: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 70: Russia: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 71: Russia: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 72: Others: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 73: Others: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 74: Latin America: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 75: Latin America: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 76: Brazil: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 77: Brazil: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 78: Mexico: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 79: Mexico: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 80: Others: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 81: Others: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 82: Middle East and Africa: High Speed Steel Cutting Tools Market: Sales Value (in Million USD), 2019 & 2024
- Figure 83: Middle East and Africa: High Speed Steel Cutting Tools Market: Breakup by Country (in %), 2024
- Figure 84: Middle East and Africa: High Speed Steel Cutting Tools Market Forecast: Sales Value (in Million USD), 2025-2033
- Figure 85: Global: High Speed Steel Cutting Tools Industry: SWOT Analysis
- Figure 86: Global: High Speed Steel Cutting Tools Industry: Value Chain Analysis
- Figure 87: Global: High Speed Steel Cutting Tools Industry: Porter's Five Forces Analysis
List of Tables
- Table 1: Global: High Speed Steel Cutting Tools Market: Key Industry Highlights, 2024 and 2033
- Table 2: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by Type (in Million USD), 2025-2033
- Table 3: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by Technology (in Million USD), 2025-2033
- Table 4: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by End Use Industry (in Million USD), 2025-2033
- Table 5: Global: High Speed Steel Cutting Tools Market Forecast: Breakup by Region (in Million USD), 2025-2033
- Table 6: Global: High Speed Steel Cutting Tools Market: Competitive Structure
- Table 7: Global: High Speed Steel Cutting Tools Market: Key Players
Have a question?
SELECT AN OPTION
Have a question?
Questions? Please give us a call or visit the contact form.