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Boring Bars Market Share

Report ID: GMI12187
Published Date: Nov 2024
Report Format: PDF

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Boring Bars Market Share

Global Boring Bars Company Market Share Analysis, (2023)

The boring bars industry is fragmented, with prominent players holding a market share of 10%-15% of the total market share. Companies generally view the landscape as both promising and challenging, with opportunities for growth driven by increasing demand for precision machining and technological advancements. Major players are focusing on innovation, investing in research and development to create high-performance boring bars that offer superior durability, precision, and efficiency.

Boring Bars Market Companies

Major players operating in the boring bars industry include:

Allied Machine & Engineering Corporation
BIG KAISER Precision Tooling Inc.
Ceratizit S.A.
Dormer Pramet S.r.o.
Guhring KG
Ingersoll Machine Tools Inc.
ISCAR Ltd.
Kennametal Inc.
Kyocera Corporation
Mitsubishi Materials Corporation
Sandvik AB
Seco Tools AB
Sumitomo Electric Industries, Ltd.
Tungaloy Corporation
Walter AG

Authors: Avinash Singh, Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for boring bars was reached USD 1.9 billion in 2023 and is estimated to grow at a 5.4% CAGR from 2024 to 2032, driven by advancements in tool materials.

The standard boring bars segment recorded USD 1.2 billion in 2023 and is expected to reach USD 2.0 billion by 2032, due to their versatility and cost-effectiveness in general-purpose machining.

The offline distribution channel held a 61.2% market share in 2023 and is expected to grow at a 5.6% CAGR up to 2032, as it allows customers to inspect products in person and receive personalized advice.

The U.S. boring bars market recorded a 79.1% revenue share in 2023 and is expected to reach USD 2.5 billion by 2032, driven by a robust manufacturing sector and the adoption of advanced materials.

Key players in the industry include Allied Machine & Engineering Corporation, BIG KAISER Precision Tooling Inc., Ceratizit S.A., Dormer Pramet S.r.o., Guhring KG, Ingersoll Machine Tools Inc., ISCAR Ltd., Kennametal Inc., Kyocera Corporation, Mitsubishi Materials Corporation, Sandvik AB, Seco Tools AB, Sumitomo Electric Industries, Ltd., Tungaloy Corporation, and Walter AG.