According to Stratistics MRC, the Global High Speed Steel (HSS) Tools Market is accounted for $5.19 billion in 2020 and is expected to reach $9.54 billion by 2028 growing at a CAGR of 7.9% during the forecast period. Efficiency and interoperability of HSS tools and increasing investments in mechanical equipment are the major factors propelling the market growth. However, HSS tools are less effective at creating good quality surface finishes is hampering the market growth.
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By geography, North America is going to have a huge demand during the forecast period due to the rising domestic manufacturing sector output indices and the emergence of DIY-based power tools. In addition, prominent end-use sectors such as the automotive and construction sectors in the U.S are expected to drive the market.
Some of the key players profiled in the High Speed Steel (HSS) Tools Market include CERATIZIT S.A., Gühring KG, Kennametal Inc., KYOCERA Corporation, Mitsubishi Materials Corporation, OSG Corporation, RUKO GmbH, Sandvik AB, Stanley Black & Decker, Inc, Sumitomo Electric Hartmetall GmbH, TDC Cutting Tools Inc., Tiangong International Co. Ltd., TTI Group, Walter AG, YG-1 Co., Ltd.
Fabrications Covered:
• Coated
• Non-Coated
Tool Types Covered:
• Drill Taps
• Mills
• Countersinks
• Drills
• Cutters
• Reamers
• Drill Blanks and Sets
• Square Tool Bits
• Counterbores
• Round Bits
• Rotary Burrs
• Hole Saws
Configurations Covered:
• Machine Based
• Hand Based
End User Covered:
• Metal Fabrication
• Automotive and Transportation
• Heavy Machinery
• Construction
• Furniture & Carpentry
• Oil & Gas
• Do It Yourself (DIY)
• Other Manufacturing
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
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