The Global External Turning Tools Market size is projected to grow from USD 3.70 billion in 2020 to USD X.XX billion by 2028, at a CAGR of 5%. The major drivers for the growth of this market include increased demand for machining equipment and the requirement of precision end-milling operations in various industries such as automotive, construction, and power plant projects.
External turning tools are cutting tools that are used to remove material from the surface of a workpiece. The tool makes contact with the rotating workpiece at its circumference, rather than through an edge as in traditional machining applications for materials such as steel or aluminum. External turning tools are a type of tool used in metalworking to create an object with external surfaces that have different geometry from the original piece. The major types of these tools include threading, grooving, parting off, and end milling. In general, each process can cut or remove material from a workpiece by either scraping across its surface (grinding) using cutting teeth attached to cylindrical wheels rotating about an axis concentric with that of the wheel itself; or abrading it away as small particles break free due to shear stresses induced at their contact points moving relative to one another along generally helical paths converging toward a common point on the same transverse line; or both together simultaneously as well as any combination thereof.
On the basis of Type, the global external turning tools market is segmented into Parting-off Tools, Grooving Tools, Threading Tools, and Drilling.
Parting-off tools are used for cutting and separating two separate parts in a single operation. They can be cylindrical, conical, or one of each shape. Parting-off tools are used to separate a workpiece from the stock. These types of turning tools have two cutting flutes that cut at an included angle and provide straight, flat, or tapered surfaces on both sides of the parting line. The main advantage with these products is their good stability while machine rigidity can be achieved through reducing vibrations in turn ensuring high productivity rates which allow for a substantial reduction in operating costs over time.
Grooving tools are used to create grooves or flutes on the external surfaces of workpieces. These can be straight, spiral, or even helical in nature. The main purpose of these types of external turning tools is to cut down metal material along its side length without removing too much thickness from it. They can be designed in such a way that they give specific chamfer dimensions and finish depending upon their application needs. Grooving tools generally have geometry similar to end mills, but with different angles and depths for generating desired groove features.
Threading tools are designed for cutting threads in the outer diameter of workpieces. This type is usually used when machining cylindrical surfaces such as bolts, screws, and nuts. There are various features of Threading Tools type, some key ones include: - Ability to use for high volume production. - Low operating costs due to its easy operation and maintenance. There are various benefits of the Threading Tools type of external turning tools, including: - High accuracy and high productivity.- Reduce cost for thread generation.- Ability to create multiple internal threads simultaneously in one setup time.
Drilling external turning tools are a form of end mill that cuts along the circumference. They’re typically used to drill holes in different materials, including wood and plastics. Drills may require internal or external cooling depending on their material and size. Additionally, drills can be divided into several groups based on various criteria such as shape (parabolic flute) or diameter range (smaller than 12 mm up to larger than 150 mm). There are many features of drilling external turning tools. These include: chamfering, tapered shank, and straight shank.
On the basis of Application, the global external turning tools market is segmented into Automotive Industry & Aerospace industry.
External turning tools are used in the automotive industry for various applications such as profiling, cutting, and removing excess material from a workpiece. These external turning tools have the advantage of being able to remove more amount of waste with less damage than internal lathe tooling. The increased number of vehicle production companies around the world coupled with demand for lighter-weight vehicles is expected to drive the growth of the global external turning tools market over the next few years.
External turning tools can be applied in various applications of the aerospace industry such as machining and manufacturing. These include: Aircraft Equipment: For example, they are used to machine parts for landing gear. Aft Fuselage Applications: Such as, aircraft skin panels which require extensive milling operations on their edges with low depth-of-cut (DOC) values and high feed rates. These tools give a clean and smooth surface finish on components which is necessary for aerospace applications.
On the basis of Region, the global external turning tools market is segmented into North America, Latin America, Europe, Asia Pacific, and Middle East & Africa. The North American region holds a significant share in the global external turning tools market due to increased demand for parts from various industries such as automotive and aerospace etc. The Asia Pacific has huge opportunities regarding new product development owing to increasing technological advancements in the field of manufacturing which will drive expansion over the forecast period also growing investments by key players in this region are expected to spur growth rate during forecast times 2028. Europe External Turning Tools Market accounted for majorly due to increasing use of metalworking lathe machine or equipment globally across different sectors like automotive construction engineering among others. The market for external turning tools in Latin America is estimated to grow at a CAGR of close to 11% during the forecast period. The growth is expected to be driven by the increasing demand for machine tools in countries such as Argentina and Brazil.
The main factors driving the growth of this market are growing manufacturing activities, an increase in demand for lightweight vehicles, and increasing exports from Asia Pacific countries such as China and India. Furthermore, the factors driving the growth of the global external turning tools market are a rise in demand for end milling and threading, increasing penetration of automation across various industries to improve production efficiencies, the need for miniaturization due to rapid advancements within technology & growing automotive industry which is demanding higher efficiency with minimal man-hours.
Up Market Research published a new report titled “External Turning Tools Market research report which is segmented by Types (Parting Off, Grooving, Threading, End Milling, Drilling), By Applications (Automotive, Construction), By Players/Companies Sandvik, Mitsubishi Materials, WhizCut, Ingersoll Cutting Tool, KOMET, KYOCERA, Kennametal, Winstar Cutting, Widia, IZAR CUTTING TOOLS, Arno, Sumitomo Electric, Swiss Tool Systems, ISCAR, Seco Tools, Shan Gin Cutting Tools, Palbit, Ceratizit”. As per the study the market is expected to grow at a CAGR of XX% in the forecast period.
|Report Attributes||Report Details|
|Report Title||External Turning Tools Market Research Report|
|By Type||Parting Off, Grooving, Threading, End Milling, Drilling|
|By Application||Automotive, Construction|
|By Companies||Sandvik, Mitsubishi Materials, WhizCut, Ingersoll Cutting Tool, KOMET, KYOCERA, Kennametal, Winstar Cutting, Widia, IZAR CUTTING TOOLS, Arno, Sumitomo Electric, Swiss Tool Systems, ISCAR, Seco Tools, Shan Gin Cutting Tools, Palbit, Ceratizit|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||229|
|Number of Tables & Figures||161|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Parting Off, Grooving, Threading, End Milling, Drilling and By Application Automotive, Construction.
Some of the companies that are profiled in this report are:
External Turning Tools Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
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Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the External Turning Tools Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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