#turning tools

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…

Market Scenario:

Turning Tools consist of a replaceable insert in its body, and the insert can vary, based on shape, material, geometry, and coating. Turning tools are probably used in every manufacturing industry. It is very important part of manufacturing and industrial operations. Increasing demand to develop superior-quality products is driving the growth of the market. Moreover, automation in the industrial sector to improve the production efficiency is also the major factor fuelling the demand of the market. However, rise in popularity of electrical discharge and electrochemical machining is the factor that may hamper the growth of the market.

The Turning Tools Market is projected to grow at a CAGR of approximately 6.9% from 2017 to 2023.

Market Research Analysis: On the basis of product type, Global Turning Tools Market is segmented into boring, inserts and others. Boring type segment dominated the Turning Tools Market. Boring, also called internal turning, is used to increase the inside diameter of a hole. The utilization of boring process in drilling and casting to achieve sizing, straightness, and concentricity will be the major factor driving the growth of this market segment. This segment is expected to grow at a fastest pace during the forecast period.  Insert used in turning tools are of different shapes. Round-shaped insert is used to maximize the edge strength whereas 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. Inserts segment is expected to contribute significantly during forecast period.

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Key Players: The key players of Turning Tools Market are Ingersoll Cutting Tool Company (U.S.), Sandvik Group (Sweden), Mikron Tool SA Agno (Switzerland), NTK Cutting Tools (Japan), WNT Tools India Pvt Ltd. (India), Kennametal Foundation (U.S.), Hanjiang Tool Co., Ltd. (China), Shanghai Tool Works Co.,Ltd. (China), Union Tool Corporation (Japan) and ISCAR LTD. (Israel).

Scope of the Report: This study provides an overview of the Global Turning Tools Market, tracking one market segments across four geographic regions. The report studies key players, providing a five-year annual trend analysis that highlights market size, volume and share for North America, Europe, Asia Pacific (APAC) and Rest of the World (ROW). The report also provides a forecast, focusing on the market opportunities for the next six years for each region. The scope of the study segments the Global Turning Tools Market by its product type, and region.

By Product Type •          Boring •          Inserts •          Others

By Region •          North America •          Asia-Pacific •          Europe •          Rest of the World

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Regional Analysis: Asia-Pacific region dominates the Global Turning Tools Market. Continuously growing automotive, and manufacturing sector in countries like China and India driving the growth of the market in APAC region. This region is expected to show the fastest growth during the forecast period. Automation in automotive and mining industry boost demand of the market in European region.

Key Points from Table of Contents:

6    Competitive Analysis

6.1       Introduction

6.2       Competitive Scenario 6.2.1    Market Share Analysis 6.2.2    Market Development Analysis 6.2.3    Product/Service Benchmarking

6.3       Ingersoll Cutting Tool Company 6.3.1    Overview 6.3.2    Product/Service Offering 6.3.3    Strategy

6.4       Sandvik Group 6.4.1    Overview 6.4.2    Product/Service Offering 6.4.3    Strategy

6.5       Mikron Tool SA Agno 6.5.1    Overview 6.5.2    Product/Service Offering 6.5.3    Strategy

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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.

Radiant Insights 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

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Radiant Insights 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?

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