【English Market Research Report】Global Market for Metal Cutting Tools
Product ID: 1473995 Publisher: SkyQuest
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The global market size for metal cutting tools was valued at 75.97 billion USD in 2022 and is expected to grow from 79.62 billion USD in 2023 to 115.85 billion USD by 2031, with a projected CAGR of 4.80% during the forecast period (2024-2031). Metal cutting tools, essential for the precision machining of complex parts, include a variety of machines ranging from modern CNC metal cutting devices powered by electric motors to traditional horizontal lathes. These tools perform various cutting processes such as milling, turning, boring, and grinding on metal workpieces. They come in various sizes and types, including fiber cutters, plasma cutters, and laser cutting devices, playing a crucial role in industries like automotive, particularly benefiting from the surge in demand for welded automotive parts. The metal cutting tools sector is expected to remain a significant segment of the machine tool market, supported by factors such as increasing demand for power tools, growing utilization in end-use sectors, and technological innovations, which underpin the growth trajectory of the metal cutting tools industry.
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Publication Date: April 28, 2024 Publisher: SkyQuest Page Information: English 202 Pages Table of Contents Executive Summary Research Methodology Analysis of the Parent Market Key Market Insights Market Dynamics and Outlook Global Market for Metal Cutting Tools: By Product Global Market for Metal Cutting Tools: By Application Global Market Size for Metal Cutting Tools: By Region Competitive Landscape Major Company Profiles *The table of contents and prices for this report are as of the time of publication. For the latest information, please contact us.*
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