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    Global High Speed Steels Market Analysis

    Global High Speed Steels Market Analysis
    Report code - SRAM292 Delivery - 2 Weeks
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    High Speed Steels Market Size, Share, Trend, Forecast, & Competitive Analysis.
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    Market Insights

    The High Speed Steels Market was estimated at USD 2.1Billion in 2021 and is likely to grow at a CAGR of 6.83% from 2022-2028 to reach USD 3.36 Billion in 2028.

     

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    What are high speed steels?

    High speed steels are mainly tool steels that are used as a cutting tools. It is much superior in properties in comparison to traditional steel.

    High speed steels can be metal cutting tools, cold working tools, and others. The automotive, plastic, aerospace, energy sector, and others are the industries where high-speed steels are used.

    Drivers

    The growing demand for equipment built from high speed steels in various end-use industries, such as automotive, aerospace, and plastics is driving the market globally.

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    Key Players

    Market Share Analysis

    By Product Type

    The market is segmented as metal cutting tools, cold working tools, and others. The metal-cutting tools segment is estimated to register the highest growth in the coming five years. The growth is attributed to the practice that metal cutting tools built from high speed steels deliver proper manufacturing of intricate components marked with precision and effortlessness.

    By End-Use Industry Type

    The market is segmented into automotive, plastic, aerospace, energy sector, and others. The automotive segment is expected to lead the market during the forecast period. The growth of this segment is owing to the rising demand for high-end industrial equipment from the automotive sector. High speed steels are extensively employed in the manufacturing of components and spare parts for railways and of commercial and passenger vehicles, because of the numerous properties offered by them, such as elevated hardness, excellent strength, and high abrasion and wear resistance.

    By Region

    Asia-Pacific is expected to depict the highest growth of the high speed steel market in the coming five years. China, Japan, India, and South Korea are the growth engines of the region. The market is driven by the high consumption of high-speed steels in various end-use industries, such as automotive, aerospace, and plastic in the region. North America and Europe are also expected to offer considerable growth opportunities during the forecast period.

     

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    Segmentation

    This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market.

    Report – Features

    Market Segmentation

     3

    Regions Covered

     5

    Countries/Sub-Regions Covered

     15

    No. of Figures & Tables

    >150

    Company Profiles

     10

    The market is segmented into the following categories: 

    By Product Type:

    • Metal Cutting Tools
      • (Product Type Analysis: Drill Bits, Broachers & Reamers, Taps, End Mills, and Saws)
    • Cold Working Tools
      • (Product Type Analysis: Blanking & Fine Blanking Tools, Extrusion Tools, Drawing & Deep Drawing Tools, and Others)
    • Others
      • (Product Type Analysis: Screws & Barrels, Molds, and Pumps)

    By End-Use Industry Type:

    • Automotive 
    • Plastic 
    • Aerospace 
    • Energy Sector 
    • Others 

    By Region:

    • North America (Country Analysis: the USA, Canada, and Mexico) 
    • Europe (Country Analysis: Germany, France, the UK, Russia, and the Rest of Europe)
    • Asia-Pacific (Country Analysis: China, Japan, India, and the Rest of Asia-Pacific)
    • Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)
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    Research Methodology

    This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools. More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

    Report Features

    This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. The following are the key features of the report:

    • Overview, industry life cycle analysis, supply chain analysis
    • Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis
    • Trend and forecast analysis
    • Segment trend and forecast
    • Competitive landscape and dynamics: Market share, product portfolio, product launches, etc.
    • Attractive market segments and associated growth opportunities
    • Emerging trends
    • Strategic growth opportunities for the existing and new players
    • Key success factors

    High Speed Steels Market Features

    Market Size in 2028

    USD 2.1 billion 

    Market Size in 2021

    USD 3.36 billion

    Market Growth (2022-2028)

    6.83% CAGR

    Base Year of Study

    2021

    Trend Period

    2016-2020

    Forecast Period

    2022-2028

    Segments Covered

    By Product Type (Metal Cutting Tools, Cold Working Tools, and Others)

    By End-Use Industry Type (Automotive, Plastic, Aerospace, Energy Sector, and Others)

    By Region

    Top Companies in 2022

    • Nachi-Fujikoshi Corporation
    • Daido Steel Co., Ltd.
    • Voestalpine AG
    • Sandvik Materials Technology AB
    • Kennametal Inc.
    • Hudson Tool Steel Corporation
    • ArcelorMittal S.A.
    • Thyssenkrupp AG. 

    Dominant Region

    Asia-Pacific is expected to depict the highest growth during the forecast period.

     

    Report Customization Options

    With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

    Company Profiling

    • Detailed profiling of additional market players (up to 3 players)
    • SWOT analysis of key players (up to 3 players)

    Market Segmentation

    • Current market segmentation of any one of the product types by end-use industry type.  

    Competitive Benchmarking

    • Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

    Custom Research: Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry at sales@stratviewresearch.com

    General Frequently Asked Questions (FAQs)

    High speed steels are mainly tool steels that are used as a cutting tools. It is much superior in properties in comparison to traditional steel. High speed steels can be metal cutting tools, cold working tools, and others. The automotive, plastic, aerospace, energy sector, and others are the industries where high-speed steels are used.

    Some of the major players in the high-speed steels market are Nachi-Fujikoshi Corporation, Daido Steel Co., Ltd., Voestalpine AG, Sandvik Materials Technology AB, Kennametal Inc., Hudson Tool Steel Corporation, Arcelormittal S.A., and Thyssenkrupp AG.

    In terms of regions, Asia-Pacific is expected to depict the highest growth in the coming five years.

    The High Speed Steels Market was estimated at USD 2.1Billion in 2021 and are likely to reach USD 3.36 Billion in 2028.

    The High Speed Steels Market was estimated to grow at a CAGR of 6.83% from 2022-2028.

    The growing demand for equipment built from high speed steels in various end-use industries, such as automotive, aerospace, and plastics is driving the market globally.

    The metal-cutting tools segment is estimated to register the highest growth in the coming five years.

    The study period of this market report is 2016-28.