Home > Industrial Machinery > Industrial Equipment > Tools > Indexable Inserts Market

Indexable Inserts Market Trends

Report ID: GMI12250
Published Date: Nov 2024
Report Format: PDF

Download Free Sample

Indexable Inserts Market Trends

The rising production of electric vehicles (EVs) necessitates the precise machining of specialized components, such as battery housings and electric motor parts, driving the demand for indexable inserts. To cater to these specialized needs, manufacturers are increasingly turning to high-performance tools. A notable advantage of indexable inserts is their sustainability: only the worn cutting edge is replaced, allowing the rest of the tool to be retained. This characteristic resonates with the heightened emphasis manufacturing firms are placing on sustainable practices and minimizing material waste.

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for Indexable Inserts was reached USD 2.09 billion in 2023 and is estimated to grow at a 4.1% CAGR from 2024 to 2032, driven by rising demand from the automotive sector.

The carbide inserts segment recorded around USD 1.3 billion in 2023 and is expected to grow at a CAGR of 4.3% from 2024 to 2032, due to their exceptional hardness and wear resistance, making them ideal for high-speed and heavy-duty applications.

The turning segment held around 44% share of the indexable inserts market in 2023 and is anticipated to grow at a CAGR of 4.3% through 2032, as industries like automotive and aerospace rely on turning for precision components.

The U.S. Indexable Inserts market dominated with a 78% share in 2023 and is expected to grow as the automotive sector demands high-volume machining and intricate part designs, facilitated by indexable inserts.

Key players in the Indexable Inserts industry include Carbide Tool Solutions, Gühring KG, Hitachi Tool Engineering, Ltd., Hoffmann Group, Iscar Ltd., Kennametal Inc., Kyocera Corporation, Mitsubishi Materials Corporation, OSG Corporation, Sandvik Coromant, Schaeffler Group, Seco Tools, Sumitomo Electric Industries, Ltd., Tungaloy Corporation, and Walter AG.