Global High Speed Steels Market – Industry Trends and Forecast to 2026

  • Chemical and Materials
  • Upcoming Reports
  • Aug 2019
  • Global
  • 350 Pages
  • No of Tables: 60
  • No of Figures: 220

Global High Speed Steels Market By Type (Tungsten High-Speed Steel, Molybdenum High-Speed Steel, Cobalt High Speed Steel), Process (Conventional, Powder Metallurgy), Application (Metal Cutting Tools Cold Working Tools), End-User (Mechanical Engineering, Automotive, Aerospace, Machine Tools, Dies and Moulds, Medical, Others), Geography (North America, Europe, Asia-Pacific, Europe, South America, Middle East and Africa) – Industry Trends and Forecast to 2026

Market Analysis: Global High Speed Steels Market

Global High speed steels market is expected to rise to an estimated value of USD 3.8 billion by 2026, registering a substantial CAGR in the forecast period of 2019-2026.This rise in market value can be attributed to increasing demand for manufacturing cutting tools.

Market Definition: Global High Speed Steels Market

High Speed Steels (HSS) are used as cutting tool materials in power-saw blades. HSS are the alloys and have properties similar as that of tungsten or molybdenum. High speed steels are known for maintaining hardness at even very high temperatures. The main application of the steels is in the manufacturing of drills, taps, milling cutters, tool bits, gear cutters and various saw blades.

Market Drivers:

  • ·         Demand of high speed steels in the shipbuilding and energy sectors acts as a major driver for the market
  • ·         Growing awareness about the advantages of high speed steel also boosts the demand for its usage in different industries

Market Restraints:

  • ·         Increasing use of alternatives such as carbide-based cutting tools in automotive industry
  • ·         Low production capacity of high speed steel acts as a major restraint for the market

Segmentation: Global High Speed Steels Market

·         By Type

·         Tungsten High-Speed Steel

·         Molybdenum High-Speed Steel

·         Cobalt High Speed Steel

·         By Process

·         Conventional

·         Powder Metallurgy

·         By Application

·         Metal cutting tools

·         Cold working tools

·         By End-Use Industry

·         Mechanical Engineering

·         Automotive

·         Aerospace

·         Machine Tools

·         Dies and Moulds

·         Medical

·         Others

·         By Geography

·         North America

o   US

o   Canada

o   Mexico

·         South America

o   Brazil

o   Argentina

o   Rest of South America

·         Europe

o   Germany

o   France

o   United Kingdom

o   Italy

o   Spain

o   Russia

o   Turkey

o   Belgium

o   Netherlands

o   Rest of Europe

·         Asia-Pacific

o   Japan

o   China

o   South Korea

o   India

o   Australia

o   Singapore

o   Malaysia

o   Indonesia

o   Thailand

o   Philippines

o   Rest of Asia-Pacific

·         Middle East and Africa

o   South Africa

o   Egypt

o   Saudi Arabia

o   United Arab Emirates

o   Israel

o   Rest of Middle East and Africa

Key Developments in the Market:

  • ·         In April 2019, Sandvik completed the acquisition of OSK, Chinese supplier of solid carbide round tools. The acquisition will help the company to merger its tools and other products into its own portfolio
  • ·         In November 2018, ArcelorMittal acquired Ilva S.p.A. and named the company, ArcelorMittal Italia. Under this agreement, the company a new business line within Europe

Competitive Analysis:

Global High speed steels market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market. The report includes market shares of high speed steels market for global, Europe, North America, Asia-Pacific, South America and Middle East & Africa.

Key Market Competitors:

Few of the major competitors currently working in High speed steels market are NACHI-FUJIKOSHI CORP, Daido Steel Co., Ltd, voestalpine AG, Sandvik AB, Kennametal Inc, Hudson Tool Steel, ERASTEEL, Arcelormittal S.A., thyssenkrupp AG, Tiangong International Co., Ltd, Guhring, Inc., Heye Special Steel Co., Ltd, Nippon Koshuha Steel Co., Ltd, OSG Corporation, Graphite India Limited, Tivoly SA, Crucible Industries LLC, Jiangsu Fuda Special Steel Co., Ltd., West Yorkshire Steel Co. Ltd, Big Kaiser Precision Tooling Inc, among others

Research Methodology: Global High Speed Steels Market

Data collection and base year analysis is done using data collection modules with large sample sizes. The market data is analysed and forecasted using market statistical and coherent models. Also market share analysis and key trend analysis are the major success factors in the market report. To know more please request an analyst call or can drop down your enquiry.

The key research methodology used by DBMR research team is data triangulation which involves data mining, analysis of the impact of data variables on the market, and primary (industry expert) validation. Apart from this, other data models include Vendor Positioning Grid, Market Time Line Analysis, Market Overview and Guide, Company Positioning Grid, Company Market Share Analysis, Standards of Measurement, Top to Bottom Analysis and Vendor Share Analysis. To know more about the research methodology, drop in an inquiry to speak to our industry experts.

Key Insights in the report:

  • ·         Complete and distinct analysis of the market drivers and restraints
  • ·         Key market players involved in this industry
  • ·         Detailed analysis of the market segmentation
  • ·         Competitive analysis of the key players involved


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