India Metal Cutting Tools Market Outlook | Industry, Revenue, Value, Companies, Size, Forecast, Growth, Trends, Share, Analysis & COVID-19 IMPACT

Market Forecast By Product (Machining Centers, Lathe Machines, Boring Machines, Grinding Machines, Milling Machines, Others), By Application (Automotive, General Machinery, Precision Engineering, Transport Machinery, Others) And Competitive Landscape
Product Code: ETC297444 Publication Date: Aug 2023 Product Type: Market Research Report
Publisher: 6Wresearch No. of Pages: 75 No. of Figures: 35 No. of Tables: 20

India Metal Cutting Tools Market Shipment Analysis

India Metal Cutting Tools Market registered a growth of 0.7% in value shipments in 2022 as compared to 2021 and an increase of 9.72% CAGR in 2022 over a period of 2017. In Metal Cutting Tools Market India is becoming less competitive as HHI index in 2022 was 4616 while in 2017 it was 4115. Herfindahl Index measures the competitiveness of exporting countries. The range lies from 0 to 10000, where a lower index number represents a larger number of players or exporting countries in the market while a large index number means less numbers of players or countries exporting in the market. India has reportedly relied more on imports to meet its growing demand in Metal Cutting Tools Market.

India is unable to meet its increasing needs of this product with domestic production hence we see the trend is shifting towards import shipment to meet its demand The import factor of Metal Cutting Tools Market in 2022 was 9.39 while in 2017 it was 4.76. China, Japan, Thailand, Germany and Philippines were among the top players of the market in 2022, where China acquired the largest market share of 67.01% with a shipment value of 158.23 million USD in 2022 China also offered the product below the average market price thus having a competitive advantage over others In 2017 China had the largest market share of 62.87% with the shipment value of 84.5 million USD. The country was offering its product with an average price which is lower than the average market price offered in the country. As China price is lower than the average price, it provided a significant edge among other competitor in 2017.

India Metal Cutting Tools Market Synopsis

The India metal cutting tools market is poised for substantial growth, driven by the expansion of the manufacturing and engineering sectors. Metal cutting tools, including drills, end mills, and inserts, are essential for various machining processes in industries such as automotive, aerospace, and defense. The growing emphasis on precision engineering, productivity, and efficiency is boosting the demand for high-quality and technologically advanced metal cutting tools. Additionally, the increasing adoption of computer numerical control (CNC) machines and the trend towards smart manufacturing are contributing to the market`s growth. However, the market faces challenges related to the presence of low-cost and counterfeit cutting tools, which may impact the performance and durability of genuine products.

Drivers of the market

The metal cutting tools market in India is experiencing robust growth driven by several factors. The expanding manufacturing and automotive industries in the country are creating a substantial demand for metal cutting tools, including drills, milling cutters, and turning tools. The rise in industrialization and infrastructure development projects is further fueling the demand for metal cutting tools. Additionally, the increasing adoption of CNC machines and advanced cutting technologies is driving the need for high-performance cutting tools. The focus on improving production efficiency and reducing manufacturing costs is also expected to boost market growth in the forecast period.

Challenges of the Market

The India metal cutting tools market is projected to grow due to increasing demand from the automotive, aerospace, and construction sectors. Metal cutting tools play a crucial role in shaping and machining metals in manufacturing processes. However, challenges may arise concerning the slow adoption of advanced cutting tool technologies by some small-scale manufacturers who still rely on conventional cutting methods. Additionally, the presence of low-quality and counterfeit cutting tools in the market could affect the reputation of established cutting tool manufacturers and create trust issues among customers.

Covid-19 Impact on the Market

The India metal cutting tools market is experiencing substantial growth as industries such as manufacturing and automotive rely on efficient and precision cutting solutions. This market`s outlook is driven by factors such as the increasing demand for advanced cutting tools for CNC machining and milling operations, the growth of metal fabrication and processing industries, and the adoption of coated and carbide cutting inserts for extended tool life. Additionally, the development of smart and data-driven cutting tools and the rising demand for high-performance tools for exotic and hard-to-machine materials are further contributing to market growth.

Key Players of the Market

The India metal cutting tools market is primarily dominated by international cutting tool manufacturers with a strong presence in the metalworking industry. Companies like Sandvik AB, Kennametal Inc., and Mitsubishi Materials Corporation are among the leading suppliers of metal cutting tools, including drills, end mills, and inserts. These companies have a wide range of cutting tool products suitable for various metalworking applications, providing advanced and high-performance tools to improve machining efficiency. Additionally, India cutting tool manufacturers also contribute to the market by offering localized cutting tool solutions for the specific needs of India manufacturers and machinists. These domestic players often focus on cost-competitive and high-quality cutting tools to serve the diverse metalworking needs of the India industry.

Key Highlights of the Report:

  • India Metal Cutting Tools Market Outlook
  • Market Size of India Metal Cutting Tools Market, 2021
  • Forecast of India Metal Cutting Tools Market, 2028
  • Historical Data and Forecast of India Metal Cutting Tools Revenues & Volume for the Period 2018 - 2028
  • India Metal Cutting Tools Market Trend Evolution
  • India Metal Cutting Tools Market Drivers and Challenges
  • India Metal Cutting Tools Price Trends
  • India Metal Cutting Tools Porter's Five Forces
  • India Metal Cutting Tools Industry Life Cycle
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Product for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Machining Centers for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Lathe Machines for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Boring Machines for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Grinding Machines for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Milling Machines for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Others for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Application for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Automotive for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By General Machinery for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Precision Engineering for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Transport Machinery for the Period 2018 - 2028
  • Historical Data and Forecast of India Metal Cutting Tools Market Revenues & Volume By Others for the Period 2018 - 2028
  • India Metal Cutting Tools Import Export Trade Statistics
  • Market Opportunity Assessment By Product
  • Market Opportunity Assessment By Application
  • India Metal Cutting Tools Top Companies Market Share
  • India Metal Cutting Tools Competitive Benchmarking By Technical and Operational Parameters
  • India Metal Cutting Tools Company Profiles
  • India Metal Cutting Tools Key Strategic Recommendations
Frequently Asked Questions About the Market Study (FAQs):
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1 Executive Summary

2 Introduction

2.1 Key Highlights of the Report

2.2 Report Description

2.3 Market Scope & Segmentation

2.4 Research Methodology

2.5 Assumptions

3 India Metal Cutting Tools Market Overview

3.1 India Country Macro Economic Indicators

3.2 India Metal Cutting Tools Market Revenues & Volume, 2021 & 2028F

3.3 India Metal Cutting Tools Market - Industry Life Cycle

3.4 India Metal Cutting Tools Market - Porter's Five Forces

3.5 India Metal Cutting Tools Market Revenues & Volume Share, By Product, 2021 & 2028F

3.6 India Metal Cutting Tools Market Revenues & Volume Share, By Application, 2021 & 2028F

4 India Metal Cutting Tools Market Dynamics

4.1 Impact Analysis

4.2 Market Drivers

4.3 Market Restraints

5 India Metal Cutting Tools Market Trends

6 India Metal Cutting Tools Market, By Types

6.1 India Metal Cutting Tools Market, By Product

6.1.1 Overview and Analysis

6.1.2 India Metal Cutting Tools Market Revenues & Volume, By Product, 2018 - 2028F

6.1.3 India Metal Cutting Tools Market Revenues & Volume, By Machining Centers, 2018 - 2028F

6.1.4 India Metal Cutting Tools Market Revenues & Volume, By Lathe Machines, 2018 - 2028F

6.1.5 India Metal Cutting Tools Market Revenues & Volume, By Boring Machines, 2018 - 2028F

6.1.6 India Metal Cutting Tools Market Revenues & Volume, By Grinding Machines, 2018 - 2028F

6.1.7 India Metal Cutting Tools Market Revenues & Volume, By Milling Machines, 2018 - 2028F

6.1.8 India Metal Cutting Tools Market Revenues & Volume, By Others, 2018 - 2028F

6.2 India Metal Cutting Tools Market, By Application

6.2.1 Overview and Analysis

6.2.2 India Metal Cutting Tools Market Revenues & Volume, By Automotive, 2018 - 2028F

6.2.3 India Metal Cutting Tools Market Revenues & Volume, By General Machinery, 2018 - 2028F

6.2.4 India Metal Cutting Tools Market Revenues & Volume, By Precision Engineering, 2018 - 2028F

6.2.5 India Metal Cutting Tools Market Revenues & Volume, By Transport Machinery, 2018 - 2028F

6.2.6 India Metal Cutting Tools Market Revenues & Volume, By Others, 2018 - 2028F

7 India Metal Cutting Tools Market Import-Export Trade Statistics

7.1 India Metal Cutting Tools Market Export to Major Countries

7.2 India Metal Cutting Tools Market Imports from Major Countries

8 India Metal Cutting Tools Market Key Performance Indicators

9 India Metal Cutting Tools Market - Opportunity Assessment

9.1 India Metal Cutting Tools Market Opportunity Assessment, By Product, 2021 & 2028F

9.2 India Metal Cutting Tools Market Opportunity Assessment, By Application, 2021 & 2028F

10 India Metal Cutting Tools Market - Competitive Landscape

10.1 India Metal Cutting Tools Market Revenue Share, By Companies, 2021

10.2 India Metal Cutting Tools Market Competitive Benchmarking, By Operating and Technical Parameters

11 Company Profiles

12 Recommendations

13 Disclaimer

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