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North America Carbide Tools Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Tool Type (End Mills, Tipped Bores, Burrs, Drills, Cutters, and Other Tools), Configuration (Hand-Based and Machine-Based), and End-User (Automotive and Transportation, Metal Fabrication, Construction, Oil and Gas, Heavy Machinery, and Other End-user)

Code: TIPRE00022750 | Pages: 105 | Industry: Manufacturing and Construction | Date: Jun 2021
Covid

Market Introduction

The North America region is the primary producer of metals such as iron, aluminum, and steel, which are the key metals used for metal fabrication across different sectors. In the US, the metal fabrication industry is growing, primarily due to many manufacturing industries. The metal fabrication products and solutions upgrade the metal into the end-use or intermediate products. The carbide tools manufacturers design these tools to operate on metals and metal-formed products that are fabricated in another place and are involved in re-shaping individual metal pieces by machining, forming, and joining separate parts. Additionally, the growing production of heavy trucks and commercial vehicles is anticipated to surge the growth of the carbide tools market in the region. The presence of well-known vehicle manufacturers, such as Chrysler, Ford, and GM, is one of the major driving factors for the growth of the carbide tools market in the region. Growing production in automotive sector and better performance of carbide tools than their counterparts are the major factor driving the growth of the North America carbide tools market.

In case of COVID-19, North America is highly affected specially the US. The constant demand for carbide tools has witnessed a slight decrease in the production in the year 2020, owing to lockdown imposed by the government and low demand from automotive and transportation industries. This has hindered the growth of the carbide tools market last year, as is likely to continue slightly during 2021. The COVID-19 has already impacted the sales of electronics equipment and industrial machinery in the first quarter of 2020 and is expected to have a negative impact on the market growth throughout the year, as now the companies are functional with limited workforce and trying to come up with the losses, they faced in the year 2020. The significant requirement for the industrial machinery is majorly noticed from giant manufacturing countries such as the US, which is heavily impacted by the spread of coronavirus, thereby hampering the demand for industrial machinery. Furthermore, the majority of the manufacturing plants has shut down, municipalities are functioning slowly as compared to the past, and the automotive industry is at a halt, which is negatively impacting the carbide tools market in the region. All these factors impacted the market growth of carbide tools market in North America in a negative manner.

Market Overview and Dynamics

The North America carbide tools market is expected to grow from US$ 2,762.22 million in 2021 to US$ 3,735.43 million by 2028; it is estimated to grow at a CAGR of 4.4 % from 2021 to 2028. Growing demand for enhanced carbide cutting tools is expected to surge the market growth. The carbide cutting tools form an essential part of industrial tools. These tools are used in metal cutting tools for several materials on heavy duty machines such as CNC (computer numerical control) lathes, engines lathes, and turret lathes. Carbide cutting tools are extensively used in machining applications owing to their features such as high-speed operations; high temperature withstanding ability, allowing the retention of the cutting edge; exceptional wear resistance, especially at the cutting edge; and ability to reduce cycle time along with ensuring prolonged working life. Several benefits of carbide cutting tools such as longer working life, extremely high heat tolerance etc. are creating opportunities for the future growth of the carbide cutting tool providers across North America region, thereby driving the North America carbide tools market. 

Key Market Segments

In terms of tool type, the end mills segment accounted for the largest share of the North America carbide tools market in 2020. In terms of configuration, the machine-based segment held a larger market share of the North America carbide tools market in 2020. Further, the automotive and transportation segment held a larger share of the North America carbide tools market based on end-user in 2020.

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the North America carbide tools market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are CERATIZIT S.A., DIMAR GROUP, GARR TOOL, Ingersoll Cutting Tool Company, KYOCERA Precision Tools, Makita Corporation, MITSUBISHI MATERIALS Corporation, and Sandvik Coromant

Reasons to buy report

  • To understand the North America carbide tools market landscape and identify market segments that are most likely to guarantee a strong return
  • Stay ahead of the race by comprehending the ever-changing competitive landscape for North America carbide tools market
  • Efficiently plan M&A and partnership deals in North America carbide tools market by identifying market segments with the most promising probable sales
  • Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America carbide tools market
  • Obtain market revenue forecast for market by various segments from 2021-2028 in North America region.

North America Carbide Tools Market Segmentation

North America Carbide Tools Market - By Tool Type

  • End Mills
  • Tipped Bores
  • Burrs
  • Drills
  • Cutters
  • Other Tools

North America Carbide Tools Market - By Configuration

  • Hand-Based
  • Machine-Based

North America Carbide Tools Market - By End-User

  • Automotive and Transportation
  • Metal Fabrication
  • Construction
  • Oil and Gas
  • Heavy Machinery  
  • Other End-user

North America Carbide Tools Market - By Country

  • US
  • Canada
  • Mexico

North America Carbide Tools Market - Company Profiles

  • CERATIZIT S.A.
  • DIMAR GROUP
  • GARR TOOL     
  • Ingersoll Cutting Tool Company
  • KYOCERA Precision Tools
  • Makita Corporation  
  • MITSUBISHI MATERIALS Corporation
  • Sandvik Coromant

1.           Introduction

1.1         Study Scope

1.2         The Insight Partners Research Report Guidance

1.3         Market Segmentation

1.3.1        North America Carbide Tools Market – By Tool Type

1.3.2        North America Carbide Tools Market – By Configuration

1.3.3        North America Carbide Tools Market – By End-User

1.3.4        North America Carbide Tools Market – By Country

2.           Key Takeaways

3.           Research Methodology

3.1         Coverage

3.2         Secondary Research

3.3         Primary Research

4.           North America Carbide Tools Market Landscape

4.1         Market Overview

4.2         North America PEST Analysis

4.3         Ecosystem Analysis

4.4         Expert Opinions

5.           North America Carbide Tools Market – Key Industry Dynamics

5.1         Market Drivers

5.1.1        Growing production in automotive sector

5.1.2        Better performance of carbide tools than their counterparts

5.2         Market Restraints

5.2.1        Presence of better and low-cost alternatives

5.3         Market Opportunities

5.3.1        Growing demand for enhanced carbide cutting tools

5.4         Future Trends

5.4.1        Rising demand in various industries

5.5         Impact Analysis of Drivers and Restraints

6.           Carbide Tools Market – North America Analysis

6.1         North America Carbide Tools Market Overview

6.2         North America Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

7.           North America Carbide Tools Market Analysis– By Tool Type

7.1         Overview

7.2         North America Carbide Tools Market Breakdown, By Tool Type (2020 and 2028)

7.3         End Mills

7.3.1        Overview

7.3.2        End Mills: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

7.4         Tipped Bores

7.4.1        Overview

7.4.2        Tipped Bores: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

7.5         Burrs

7.5.1        Overview

7.5.2        Burrs: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

7.6         Drills

7.6.1        Overview

7.6.2        Drills: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

7.7         Cutters

7.7.1        Overview

7.7.2        Cutters: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

7.8         Other Tools

7.8.1        Overview

7.8.2        Other Tools: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

8.           North America Carbide Tools Market Analysis– By Configuration

8.1         Overview

8.2         North America Carbide Tools Market Breakdown, By Configuration (2020 and 2028)

8.3         Hand-Based

8.3.1        Overview

8.3.2        Hand-Based: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

8.4         Machine-Based

8.4.1        Overview

8.4.2        Machine-Based: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

9.           North America Carbide Tools Market Analysis – By End-User

9.1         Overview

9.2         North America Carbide Tools Market, By End-User (2020 and 2028)

9.3         Automotive and Transportation

9.3.1        Overview

9.3.2        Automotive and Transportation: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

9.4         Metal Fabrication

9.4.1        Overview

9.4.2        Metal Fabrication: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

9.5         Construction

9.5.1        Overview

9.5.2        Construction: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

9.6         Oil and Gas

9.6.1        Overview

9.6.2        Oil and Gas: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

9.7         Heavy Machinery

9.7.1        Overview

9.7.2        Heavy Machinery: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

9.8         Other End-User

9.8.1        Overview

9.8.2        Other End-User Industry: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

10.        North America Carbide Tools Market – Country Analysis

10.1      Overview

10.1.1     North America: Carbide tools Market, by Key Country

10.1.1.1       US: Carbide Tools Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.1.1       US: Carbide Tools Market, by Tool Type

10.1.1.1.2       US: Carbide Tools Market, by Configuration

10.1.1.1.3       US: Carbide Tools Market, by End-User

10.1.1.2       Canada: Carbide Tools Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.2.1       Canada: Carbide Tools Market, by Tool Type

10.1.1.2.2       Canada: Carbide Tools Market, by Configuration

10.1.1.2.3       Canada: Carbide Tools Market, by End-User

10.1.1.3       Mexico: Carbide Tools Market – Revenue and Forecast to 2028 (US$ Million)

10.1.1.3.1       Mexico: Carbide Tools Market, by Tool Type

10.1.1.3.2       Mexico: Carbide Tools Market, by Configuration

10.1.1.3.3       Mexico: Carbide Tools Market, by End-User

11.        North America Carbide Tools Market- COVID-19 Impact Analysis

11.1      North America

12.        Industry Landscape

12.1      Overview

12.2      Market Initiative

12.3      New Development

12.4      Merger and Acquisition

13.        Company Profiles

13.1      CERATIZIT S.A.

13.1.1     Key Facts

13.1.2     Business Description

13.1.3     Products and Services

13.1.4     Financial Overview

13.1.5     SWOT Analysis

13.1.6     Key Developments

13.2      GARR TOOL

13.2.1     Key Facts

13.2.2     Business Description

13.2.3     Products and Services

13.2.4     Financial Overview

13.2.5     SWOT Analysis

13.2.6     Key Developments

13.3      Ingersoll Cutting Tool Company

13.3.1     Key Facts

13.3.2     Business Description

13.3.3     Products and Services

13.3.4     Financial Overview

13.3.5     SWOT Analysis

13.3.6     Key Developments

13.4      KYOCERA Precision Tools

13.4.1     Key Facts

13.4.2     Business Description

13.4.3     Products and Services

13.4.4     Financial Overview

13.4.5     SWOT Analysis

13.4.6     Key Developments

13.5      DIMAR GROUP

13.5.1     Key Facts

13.5.2     Business Description

13.5.3     Products and Services

13.5.4     Financial Overview

13.5.5     SWOT Analysis

13.5.6     Key Developments

13.6      MITSUBISHI MATERIALS Corporation

13.6.1     Key Facts

13.6.2     Business Description

13.6.3     Products and Services

13.6.4     Financial Overview

13.6.5     SWOT Analysis

13.6.6     Key Developments

13.7      Sandvik Coromant

13.7.1     Key Facts

13.7.2     Business Description

13.7.3     Products and Services

13.7.4     Financial Overview

13.7.5     SWOT Analysis

13.7.6     Key Developments

13.8      Makita Corporation

13.8.1     Key Facts

13.8.2     Business Description

13.8.3     Products and Services

13.8.4     Financial Overview

13.8.5     SWOT Analysis

13.8.6     Key Developments

14.        Appendix

14.1      About The Insight Partners

14.2      Word Index

LIST OF TABLES

Table 1.             North America Carbide Tools Market – Revenue and Forecast to 2028 (US$ Million)

Table 2.             North America Carbide tools Market, by Country – Revenue and Forecast to 2028 (US$ Million)

Table 3.             US: Carbide Tools Market, by Tool Type –Revenue and Forecast to 2028 (US$ Million)

Table 4.             US: Carbide Tools Market, by Configuration –Revenue and Forecast to 2028 (US$ Million)

Table 5.             US: Carbide Tools Market, by End-User –Revenue and Forecast to 2028 (US$ Million)

Table 6.             Canada: Carbide Tools Market, by Tool Type – Revenue and Forecast to 2028 (US$ Million)

Table 7.             Canada: Carbide Tools Market, by Configuration – Revenue and Forecast to 2028 (US$ Million)

Table 8.             Canada: Carbide Tools Market, by End-User –Revenue and Forecast to 2028 (Canada$ Million)

Table 9.             Mexico: Carbide Tools Market, by Tool Type – Revenue and Forecast to 2028 (US$ Million)

Table 10.          Mexico: Carbide Tools Market, by Configuration – Revenue and Forecast to 2028 (US$ Million)

Table 11.          Mexico: Carbide Tools Market, by End-User –Revenue and Forecast to 2028(Mexico$ Million)

Table 12.          List of Abbreviation

LIST OF FIGURES

Figure 1.           North America Carbide Tools Market Segmentation

Figure 2.           North America Carbide Tools Market Segmentation – By Country

Figure 3.           North America Carbide Tools Market Overview

Figure 4.           End Mills Segment held the Largest Share of North America Carbide Tools Market

Figure 5.           Machine-Based Segment held the Largest Share of North America Carbide Tools Market

Figure 6.           Automotive and Transportation segment held the Largest Share of North America Carbide Tools Market

Figure 7.           US to Show Great Traction During Forecast Period

Figure 8.           North America – PEST Analysis

Figure 9.           North America Carbide Tools Market, Ecosystem

Figure 10.        Expert Opinions

Figure 11.        North America Carbide Tools Market Impact Analysis of Drivers and Restraints

Figure 12.        North America Carbide Tools Market Revenue and Forecast to 2028(US$ Million) (US$ Million)

Figure 13.        North America Carbide Tools Market Breakdown, By Tool Type (2020 and 2028)

Figure 14.        North America End Mills: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 15.        North America Tipped Bores: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 16.        North America Burrs: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 17.        North America Drills: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 18.        North America Cutters: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 19.        North America Other Tools: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 20.        North America Carbide Tools Market Breakdown, By Configuration (2020 and 2028)

Figure 21.        North America Hand-Based: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 22.        North America Machine-Based: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 23.        North America Carbide Tools Market Breakdown, By End-User (2020 and 2028)

Figure 24.        North America Automotive and Transportation: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 25.        North America Metal Fabrication: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 26.        North America Construction: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 27.        North America Oil and Gas: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 28.        North America Heavy Machinery Industry: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 29.        North America Other End-User: Carbide Tools Market Revenue and Forecast to 2028(US$ Million)

Figure 30.        North America: Carbide tools Market, by Key Country – Revenue (2020) (USD Million)

Figure 31.        North America: Carbide tools Market Revenue Share, by Key Country (2020 and 2028)

Figure 32.        US: Carbide Tools Market – Revenue and Forecast to 2028 (US$ Million)

Figure 33.        Canada: Carbide Tools Market – Revenue and Forecast to 2028 (US$ Million)

Figure 34.        Mexico: Carbide Tools Market – Revenue and Forecast to 2028 (US$ Million)

Figure 35.        Impact of COVID-19 Pandemic in North American Country Markets

 

  1. CERATIZIT S.A.
  2. DIMAR GROUP
  3. GARR TOOL
  4. Ingersoll Cutting Tool Company
  5. KYOCERA Precision Tools
  6. Makita Corporation
  7. MITSUBISHI MATERIALS Corporation
  8. Sandvik Coromant
  • Save and reduce time carrying out entry-level research by identifying the growth, size, leading players and segments in the North America carbide tools market
  • Highlights key business priorities in order to assist companies to realign their business strategies
  • The key findings and recommendations highlight crucial progressive industry trends in North America carbide tools market, thereby allowing players across the value chain to develop effective long-term strategies
  • Develop/modify business expansion plans by using substantial growth offering developed and emerging markets
  • Scrutinize in-depth North America market trends and outlook coupled with the factors driving the carbide tools market, as well as those hindering it 
  • Enhance the decision-making process by understanding the strategies that underpin commercial interest with respect to client products, segmentation, pricing and distribution  

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