Hss Tools Market

HSS Tools Market: Manufacturers Eying Superior Strength & Wear Resistance at Competitive Price Point: Global Industry Analysis (2013-2017) and Opportunity Assessment (2018-2028)

2019-02-26
REP-GB-9000
146 Tables
276 Figures
315 pages

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HSS (High Speed Steel) Tools Market

An Incisive, In-depth Analysis on the Hss Tools Market

This study offers a comprehensive, 360 degree analysis on the Hss Tools market, bringing to fore insights that can help stakeholders identify the opportunities as well as challenges. It tracks the global Hss Tools market across key regions, and offers in-depth commentary and accurate quantitative insights. The study also includes incisive competitive landscape analysis, and provides key recommendations to market players on winning imperatives and successful strategies.

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The report covers comprehensive information about the HSS (High-Speed Steel) Tools market dynamics, volume (Units) and value (US$ Mn) projections, competitive landscape and recent developments for the study period 2018 to 2028. The global HSS tools market, estimated to register a robust CAGR of 5.9%, is expected to reach over US$ 8,100 Mn by the end of 2028.

Positive Outlook Anticipated for Automotive Sector to Impact Market Growth

Growing demand for electric and hybrid vehicles in Europe and China has substantially increased the usage of new cutting tools for cutting and other manufacturing applications. High-Speed Steel tools, commonly known as HSS tools, are witnessing high adoption across the automotive industry and the market is likely to witness substantial growth in the coming years. Automotive OEMs are investing in retooling to improve their current manufacturing facilities, which in turn, will lead to high demand for HSS tools.

According to data provided by Chinese Bureau, the growth of the HSS tools market in China has been more average level of machinery industry this year, especially the profit growth is relatively higher.

Federal Policies Pertaining to Manufacturing Industry Set to Trigger HSS Tools Market Growth

The Made in China 2025 Plan is a high-level industrial policy aimed at transforming China into a global manufacturing leader. Promoting indigenous innovation and domestic brands is the primary motive of this national plan. Further, with growing industrialization, urbanization and agricultural modernization, domestic demand for HSS tools is increasing.

From industrial equipment, heavy machinery, and marine, to aerospace and national defense, the demand for HSS tools will increase across many applications. This growth in domestic HSS tools demand will support rapid improvements in manufacturing technologies, improved commodity quality and safety and public infrastructure. The launching of new policies and strategies will further strengthen the demand outlook for HSS tools in China.

Drills to witness Notable Adoption Rate in HSS Tools Market

Most of the drilling operations are carried out using high-speed steel (HSS tools) drills only. In some cases, carbide tipped drills are employed for drilling operations. Solid carbide drills are costly and also suffer breakages as they are hard and brittle and hence, cannot withstand shock normally experienced in drilling operations. Further, more than 50% of metal cutting operations in the industry involve drilling. Subsequently, the demand for HSS tools will remain high in several industry applications.

Robust Machinery Production and Hefty Investments Creating Positive Outlook for HSS Tools Market

The long-term outlook for production of aircrafts and air transport MRO services remains positive. Increasing personal income has led to growth in travel across the globe, which in turn, is leading to growth of the HSS Tools market as well. At a macro level, expanding global economy is catalyzing urbanization and has led to emergence of the middle class, which will be great boosters for the market.

Moreover, the shipbuilding and ship repair and maintenance services industry plays a pivotal role in ensuring effective growth of overall seaborne trade and tourism business. Subsequently, modest demand for ships across the globe will also support the demand for cutting and HSS tools in the marine industry.

In an illustration below, FMI has presented the HSS Tools market share analysis by product type.

HSS Tools Market – Competitive Landscape

According to the analysis, the global HSS Tools market is primarily fragmented and a handful of stakeholders held significant market shares in 2018. In the global HSS Tools market, the top 6 to 8 players collectively account for more than 58% of the market share.

In the recent past, the HSS Tools market has witnessed significant developments from a competition perspective. Asia-Pacific is the prominent buyer of HSS tools, led by strong demand from China, India and South Korea. Subsequently, demand for HSS tools is likely to increase in the coming years. Geographical expansion, product launches and development of new compositions in prominent regions, such as China, India and ASEAN, are some of the strategies being opted by prominent players to sustain in the global HSS Tools market.

Seco Tools, a division within the Sandvik Machining Solutions, acquired Kunshan Ousike Precision Tools Co., Ltd., a renowned supplier of round HSS tools in China with an aim to establish its presence in the country
The company YG-1 Co., Ltd. opened a new manufacturing plant in Brazil to focus on the production of end mills and other HSS tools in a bid to expand its business in the Latin America region in the coming years

Prominent players covered in this HSS tools market study include KYOCERA Corporation, Sandvik AB, YG-1 Co., Ltd., Makita Corporation, CERATIZIT S.A., Mitsubishi Materials Corporation, Guhring Limited, Allied Machine & Engineering Corp., IMC Group, OSG Corporation, Kennametal Inc., Elementos de Mecanismos, S.A. de C.V. (Elmec), Fullerton Tool Company, Sumitomo Electric Hartmetall GmbH, Xinrui Industry Co., Ltd., Sorma S.p.A., Fratelli Vergnano Srl, TDC Cutting Tools Inc., TSUNE SEIKI CO.,LTD. and Cutoutil Hardware Tools Co., Ltd.

Key Questions Answered in the Report

How has the HSS Tools market evolved over the past five years?
What shape is the HSS Tools market expected to take, in terms of volume and value, during the study period?
What are some of the prevailing market dynamics in the HSS Tools market?
What are some of the important competition developments and trends in the HSS Tools market?
What are the underlying macro-economic and industry factors impacting the growth of the HSS Tools market?
Which are the key opportunities, challenges and improvement factors for the market players in the HSS Tools market?
What are the market positioning and key strategies of key manufacturers as per the market taxonomy?
How is the competition structured in the HSS Tools market at present and how has it evolved over the past few years?

Future Market Research (FMI) analyses the HSS Tools market in its new publication, titled “HSS (High Speed Steel) Tools Market: Global Industry Analysis 2013–2017 and Opportunity Assessment, 2018–2028”. This HSS Tools market study considers 2017 as the base year while market values have been estimated for 2018 and a forecast has been developed for the duration from 2018 to 2028. The main objective of the HSS Tools market report is to identify the dynamics in the market and illustrate recent updates and insights that may impact the different segments of the global HSS Tools market during the forecast period. The CAGR (Compound Annual Growth Rate) for the HSS Tools market has been represented for the forecast period 2018 to 2028.

This HSS Tools market study includes various viewpoints of the global market, including value chain analysis, market dynamics, macro-economic factors, competition analysis, pricing analysis, segmental and regional growth comparison, HSS Tools industry growth analysis and segment-level projections in an inclusive representation. According to FMI’s research, the global HSS Tools market is anticipated to register a CAGR of 6.9% during the forecast period. Growing manufacturing industry and increasing production activities are the two prime factors expected to drive the global HSS Tools market during the forecast period.

FMI’s report on the HSS Tools market analyses the market at regional and global levels through market segmentation on the basis of key parameters, i.e. product type, configuration, fabrication, end-use and region/country. Market consolidation is one of the key characteristics observed during the HSS Tools study. Importantly, HSS Tools are mainly sold through authorized dealers or independent suppliers.

Presently, tremendous advancements have been made in the field of machine tools and cutting tools. The essential function of cutting tools and HSS tools is removal of stock from materials, metallic or non-metallic. High-speed steel (HSS) tools, discovered by Robert Mushet and team, work at far higher cutting speeds. Despite growing competition from solid carbide tools, HSS tools continue to be popular as they provide hardness and wear resistance at an affordable price.

The global HSS Tools market report starts with an overview of the market, which provides a summarized view of the report and also provides market definitions and taxonomy. In the subsequent section, the report defines the market viewpoint, which includes macroeconomic factors, forecast factors, value chain and various other qualitative data regarding the market. The section that follows includes market dynamics, such as drivers, trends, restraints and opportunities impacting the global HSS Tools market.

The following sections of the report provide global market value (US$ Mn) and volume (‘000 Units) projections for the aforementioned segments. The global market values represented in these sections have been derived by gathering information and data at country as well as regional levels. The next section of the report provides a concise view of the global HSS Tools market based on seven prominent regions considered in the study. The section presents regional market position, growth potential and market attractiveness analysis for each of these regions. In addition, it is imperative to note that in an ever-fluctuating global economy, we not only conduct forecast in terms of CAGR (Compound Annual Growth Rate) but also analyse the market on the basis of key parameters, such as Year-on-Year (Y-o-Y) growth, to understand the predictability of the market and identify the right opportunities available for value chain participants.

Another crucial feature of this comprehensive report on the HSS Tools market is the analysis of all key segments, along with revenue forecasts in terms of absolute dollar opportunity. This is traditionally overlooked while forecasting the market; however, the absolute dollar opportunity is critical in assessing the level of opportunity that a provider can look to achieve in the HSS Tools market.

In order to offer an accurate forecast, FMI started by sizing the current market, which forms the basis of how the global HSS Tools market is expected to develop in the coming years. Given the characteristics of the global HSS Tools market, we triangulated the outcome of different types of analysis, based on primary research, secondary research and our own analysis. However, forecasting the market in terms of various HSS Tools segments and regions is more a matter of quantifying expectations and identifying opportunities rather than rationalising them after the completion of the forecast exercise.

Global HSS Tools Market: Competition Landscape

In the final section of the report, FMI has provided the global HSS Tools market structure and a detailed competition landscape to provide a dashboard view of key players operating in the global HSS Tools market along with their business strategies to report audiences. This section is primarily designed to provide clients with an objective and detailed comparative assessment of the key providers specific to a market segment in the value chain of the HSS Tools market.

The next section includes market share analysis and tier structure analysis of the key manufacturers in the global HSS Tools market. Detailed profiles of providers have also been included under the scope of the report to evaluate their long- and short-term strategies, key offerings and recent developments in the HSS Tools market.

Some of the key players involved in the manufacturing of HSS Tools and included in this study are KYOCERA Corporation, Sandvik AB, YG-1 Co., Ltd., Makita Corporation, CERATIZIT S.A., Mitsubishi Materials Corporation, Guhring Limited, Allied Machine & Engineering Corp., IMC Group, OSG Corporation, Kennametal Inc., Elementos de Mecanismos, S.A. de C.V. (Elmec), Fullerton Tool Company, Sumitomo Electric Hartmetall GmbH, Xinrui Industry Co., Ltd., Sorma S.p.A., Fratelli Vergnano Srl, TDC Cutting Tools Inc., TSUNE SEIKI CO.,LTD., and Cutoutil Hardware Tools Co., Ltd., amongst others.