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Boring Tools Market to grow by USD 1.40 billion from 2022 to 2027, Carbide materials for boring tools are emerging trends - TechnavioNEW YORK, Feb. 6, 2024 /PRNewswire/ -- The boring tools market is estimated to grow by USD 1.40 billion at a CAGR of 7.05% from 2023 to 2027, according to Technavio. Carbide materials for boring tools are emerging trends. Carbide metal-cutting tools are extensively utilized in various industries, including automotive, aerospace, shipbuilding, and more, to enhance efficiency in product development. Meeting customer demands for high-quality products with reduced lead times, organizations deploy tools like boring, milling, drilling, and tapping tools. This results in shorter product development cycles, improved product quality, and heightened customer satisfaction. The widespread use of carbide metal-cutting tools underscores their vital role in diverse sectors for achieving operational excellence and meeting customer expectations. For more insights on the historical (2017 to 2021) and forecast market size (2023 to 2027) - Request a free sample report Allied Machine and Engineering Corp., Asahi Diamond Industrial Co. Ltd., Berkshire Hathaway Inc., BIG DAISHOWA SEIKI CO. LTD., Cogsdill Tool Products Inc., Dorian Tool International Inc., Floyd Automatic Tooling Ltd., Fullerton Tool Co., Glanze Engineering Co. Pvt. Ltd., Harvey Performance Co. LLC, Internal Tool Inc., Jimmore International Corp., Kennametal Inc., MAPAL Fabrik fur Prazisionswerkzeuge Dr. Kress KG, Mitsubishi Materials Corp., NACHI FUJIKOSHI Corp., OSG Corp., Plansee SE, R and R Bassett Engineering Ltd., and Sandvik AB are key companies.
Technavio has segmented the market based on type (fine boring tools and rough boring tools), end-user (transportation, general machinery, precision engineering, and others), and geography (APAC, Europe, North America, South America, and Middle East and Africa).
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Insights on the contribution of various segments including country and region, historic (2017 to 2021), and forecast market size (2023 to 2027) - Download a Free Sample Report
Insights on Drivers, trends, & Challenges, historic period(2017 to 2021), and forecast period(2023 to 2027)- Request a Free sample report! Boring Tools Applications Boring tools play a crucial role in various metalworking and machining applications, particularly in drilling equipment and boring machines. These tools are essential for precision machining and hole boring in the manufacturing industry. They are part of a range of cutting tools used in metalworking, offering tooling solutions for CNC machining and metal fabrication processes. Boring tools are integral to industrial equipment and machine tools, contributing to efficient cutting processes and metalworking operations. Carbide tools are often used in the manufacturing of these tools, ensuring durability and precision in metal cutting applications. What are the key data covered in this Boring Tools Market report?
Technavio's SUBSCRIPTION platform Related Reports The metal cutting tools market size is estimated to grow by USD 7.26 billion at a CAGR of 5.86% between 2023 and 2028. The cutting tool inserts market is estimated to grow by USD 2,046.36 million at a CAGR of 5.93% between 2022 and 2027. ToC: Executive Summary Market Landscape Market Sizing Historic Sizes Five Forces Analysis Segmentation by End-user Segmentation by Type Segmentation by Geography Customer Landscape Geographic Landscape Drivers, Challenges, & Trends Company Landscape Company Analysis Appendix About US Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging trends and provide actionable insights to help businesses identify opportunities and develop effective strategies to optimize their positions. With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable insights to identify opportunities in existing and potential areas and assess their competitive positions within changing scenarios. Contact View original content to download multimedia:https://www.prnewswire.com/news-releases/boring-tools-market-to-grow-by-usd-1-40-billion-from-2022-to-2027--carbide-materials-for-boring-tools-are-emerging-trends---technavio-302053445.html SOURCE Technavio |