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Tool Inserts Market Share

Report ID: GMI12096
Published Date: Nov 2024
Report Format: PDF

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Tool Inserts Market Share

The Global tool inserts industry showcases a competitive landscape teeming with a mix of players, from multinational giants to regional manufacturers and specialized niche companies. Predominantly fragmented, the market sees major players like Ingersoll Cutting Tools, SANDVIK, Sumitomo Electric Industries, Ltd., ISCAR, Kennametal Inc. These companies command significant market shares, bolstered by their vast product portfolios and robust brand recognition. The surge of e-commerce has broadened online sales channels, allowing brands to tap into wider audiences and boost customer engagement via digital marketing.

Tool Inserts Market Companies

Major players operating in the tool inserts industry are:

EMUGE-FRANKEN
Gühring GmbH & Co. KG
Ingersoll Cutting Tools
ISCAR
Kennametal Inc.
Kyocera Corporation
Mitsubishi Materials Corporation
Nachi-Fujikoshi Corp.
SANDVIK
Sandvik Coromant
Seco Tools
Starrag Group
Sumitomo Electric Industries, Ltd.
Tungaloy Corporation
Walter AG

Authors: Avinash Singh , Sunita Singh

Frequently Asked Questions (FAQ) :

The global market for tool inserts was reached USD 3.8 billion in 2023 and is estimated to grow at a CAGR of over 3.9% from 2024 to 2032, driven by rising demand for precision machining.

The indexable inserts segment recorded USD 2.1 billion in 2023 and is expected to grow at a CAGR of around 4.1% from 2024 to 2032, due to their cost-effectiveness and integration into advanced machining systems.

The turning segment held around 44% share of the tool inserts market in 2023 and is anticipated to grow at a CAGR of 4.1% through 2032, driven by the demand for high-quality cylindrical parts in automotive, aerospace, and manufacturing sectors.

The U.S. tool inserts market dominated with around 78% revenue share in 2023 and is driven by its advanced manufacturing sectors and the demand for high-precision components in aerospace and defense.

Key players in the tool inserts industry include EMUGE-FRANKEN, Gühring GmbH & Co. KG, Ingersoll Cutting Tools, ISCAR, Kennametal Inc., Kyocera Corporation, Mitsubishi Materials Corporation, Nachi-Fujikoshi Corp., SANDVIK, Sandvik Coromant, Seco Tools, Starrag Group, Sumitomo Electric Industries, Ltd., Tungaloy Corporation, and Walter AG.