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Global Turning Tools Market 2017-2021

Global Turning Tools Market 2017-2021

About Turning Tools

Turning is a metal cutting process primarily used for generating cylindrical surfaces. In this process, mostly the workpiece is rotated on a spindle. The tool is fixed and fed into the piece both axially and radially to get the required surface, and it is frequently done with a single point tool. Turning tools consist of a replaceable insert in its body, and the insert can vary, based on shape, material, geometry, and coating. For instance, the round-shaped insert is used to maximize the edge strength, and the diamond shape insert provides a sharp point to cut fine features or to increase the number of edges. The insert used is generally made of materials such as carbide, although the materials such as ceramic and diamond inserts are used for demanding applications. In addition, a variety of protective coatings helps in increasing the process efficiency and to enhance the lifetime of the tool.

Technavio’s analysts forecast the global turning tools market to grow at a CAGR of 7.99% during the period 2017-2021.

Covered in this report

The report covers the present scenario and the growth prospects of the global turning tools market for 2017-2021. To calculate the market size, the report considers the revenue generated from the sales of turning tools.

The market is divided into the following segments based on geography:

  • Americas
  • APAC
  • EMEA
Technavio's report, Global Turning Tools Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. The report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.

Key vendors
  • Ingersoll Cutting Tool Company
  • ISCAR
  • Kennametal Foundation
  • Sandvik
  • Mikron Tool
  • NTK Cutting Tools
  • WNT tools
Other prominent vendors
  • CERATIZIT
  • CeramTec Group
  • DEWALT
  • FRAISA
  • Guhring
  • Hanjiang Tool
  • Jiangsu Feida Drills
  • KYOCERA UNIMERCO
  • Mitsubishi Materials
  • MAPAL
  • Shanghai Tool Works
  • SECO
  • SUMITOMO ELECTRIC Hartmetall
  • Samvardhana Motherson Group
  • STAR SU
  • Raymond
  • Travers Tool
  • Tiangong International
  • vhf
  • UNION TOOL
  • WNT Tools
  • ZCC Cutting Tools
Market driver
  • Growth of fabricated products in automotive industry
  • For a full, detailed list, view our report
Market challenge
  • Rise in popularity of electrical discharge and electrochemical machining
  • For a full, detailed list, view our report
Market trend
  • Use of rotary turning in high-temperature alloys in aerospace industry
  • For a full, detailed list, view our report
Key questions answered in this report
  • What will the market size be in 2021 and what will the growth rate be?
  • What are the key market trends?
  • What is driving this market?
  • What are the challenges to market growth?
  • Who are the key vendors in this market space?
  • What are the market opportunities and threats faced by the key vendors?
  • What are the strengths and weaknesses of the key vendors?


Press Release

Technavio Announces the Publication of its Research Report – Global Turning Tools Market 2017-2021

Technavio recognizes the following companies as the key players in the global turning tools market: Cutting Tool Company, ISCAR, Kennametal Foundation, Sandvik, Mikron Tool, NTK Cutting Tools, and WNT

Other Prominent Vendors in the market are: CERATIZIT, CeramTec Group, DEWALT, FRAISA, Guhring, Hanjiang Tool, Jiangsu Feida Drills, KYOCERA UNIMERCO, Mitsubishi Materials, MAPAL, Shanghai Tool Works, SECO, SUMITOMO ELECTRIC Hartmetall, Samvardhana Motherson Group, STAR SU, Raymond, Travers Tool, Tiangong International, vhf, UNION TOOL, WNT Tools, and ZCC Cutting Tools

Commenting on the report, an analyst from Technavio’s team said: “The manufacturing industry has witnessed the advent of a revolutionary technology, namely, 3D printing, which is also known as additive manufacturing. 3D printing is used to create three-dimensional objects using a digital file. The process usually involves building the product in thin layers, one by one. 3D printing enables the production of complex geometries that are either arduous or impossible with traditional manufacturing techniques.”

According to the report, the global construction market is witnessing a mixed trend across various regions. Although the slowdown in the Chinese economy has impacted the global construction market, infrastructure planning in developing economies such as India and Indonesia will boost the growth of the global cutting tools market. As a result, this will propel the demand for the turning tools and subsequently lead to the growth of the global tuning tools market.

Further, the report states that the Chinese economy, which was growing at double-digit rates, slowed down in 2014, continued to slow in 2015, and furthermore in the first half of 2016. In 2014, according to the World Bank, the Chinese GDP grew at only 7.3%, the slowest recorded growth since 1990. The slowdown was mainly attributed to the sluggish performance of the country's real estate sector, combined with the huge manufacturing overcapacity.

Companies Mentioned

Cutting Tool Company, ISCAR, Kennametal Foundation, Sandvik, Mikron Tool, NTK Cutting Tools, WNT, CERATIZIT, CeramTec Group, DEWALT, FRAISA, Guhring, Hanjiang Tool, Jiangsu Feida Drills, KYOCERA UNIMERCO, Mitsubishi Materials, MAPAL, Shanghai Tool Works, SECO, SUMITOMO ELECTRIC Hartmetall, Samvardhana Motherson Group, STAR SU, Raymond, Travers Tool, Tiangong International, vhf, UNION TOOL, WNT Tools, and ZCC Cutting Tools

  • Executive summary
  • Scope of the report
  • Research Methodology
  • Introduction
    • Key market highlights
      • Table Tool holder styles and their operations
      • Table Global turning tools market segmentation by product 2016-2021 ($ billions)
      • Table Global turning tools market segmentation by region 2016-2021 ($ billions)
  • Market landscape
    • Market overview
      • Table Global turning tools market segmentation
    • Market size and forecast
      • Table Global turning tools market 2017-2021 ($ billions)
      • Table Global vehicle sales in H1 2012 and H1 2016 (millions of units)
      • Table Trends in automotive sector
      • Table Global aerospace and defense market revenue performance
      • Table Expected growth factors for new shipbuilding orders
    • Five forces analysis
      • Table Five forces analysis
  • Market segmentation by product
    • Market overview
      • Table Global turning tools market segmentation by product type 2016-2021
    • Boring
      • Table Global turning tools market by boring 2016-2021 ($ billions)
    • Facing
      • Table Global turning tools market by facing 2016-2021 ($ billions)
  • Geographical segmentation
    • Market overview
      • Table Global turning tools market by region 2016 and 2021 (%)
    • APAC
      • Table Turning tools market in APAC 2016-2021 ($ billions)
    • EMEA
      • Table Turning tools market in EMEA 2016-2021 ($ billions)
    • Americas
      • Table Turning tools market in Americas 2016-2021 ($ billions)
  • Decision framework
  • Drivers and challenges
    • Market drivers
      • Table Global vehicle sales by vehicle types 2015
      • Table Performance outlook for automotive industry by region 2015-2021
      • Table Major investment by governments in emerging nations in APAC during forecast period
    • Impact of drivers on key customer segments
      • Table Impact of drivers
    • Market challenges
      • Table Global price trend of stainless steel June 2014-May 2015 ($/ton)
      • Table Investment over the years in oil and gas industry 2006-2016 ($ millions)
    • Impact of challenges on key customer segments
      • Table Impact of challenges
  • Market trends
    • Use of face drivers
      • Table Advantages of using face driver
    • Additive manufacturing
      • Table Global 3D printing market 2016-2021 ($ billions)
    • Use of rotary turning in high-temperature alloys in aerospace industry
      • Table Types of rotary turning
    • Enhanced growth of fabricated metal products
      • Table Global fabricated metal products market 2015-2020 ($ trillions)
  • Vendor landscape
    • Competitive scenario
    • Other prominent vendors
      • Table Other prominent vendors
  • Key vendor analysis
    • Ingersoll Cutting Tool Company
    • ISCAR
    • Kennametal Foundation
    • Sandvik
    • Mikron Tool
    • NTK Cutting Tools
    • WNT tools
  • Appendix
    • List of abbreviations
  • Explore Technavio

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