Global Boring Tools Industry (2020 to 2027) - Market Trajectory & Analytics

News provided by

Oct 23, 2020, 12:15 ET

DUBLIN, Oct. 23, 2020 /PRNewswire/ -- The "Boring Tools - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.

The publisher brings years of research experience to the 7th edition of this report. The 188-page report presents concise insights into how the pandemic has impacted production and the buy side for 2020 and 2021. A short-term phased recovery by key geography is also addressed.

Global Boring Tools Market to Reach $4.9 Billion by 2027

Amid the COVID-19 crisis, the global market for Boring Tools estimated at US$3.3 Billion in the year 2020, is projected to reach a revised size of US$4.9 Billion by 2027, growing at a CAGR of 5.8% over the analysis period 2020-2027.

Transportation, one of the segments analyzed in the report, is projected to record a 6.2% CAGR and reach US$2.6 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the General Machinery segment is readjusted to a revised 5.3% CAGR for the next 7-year period.

The U.S. Market is Estimated at $894.6 Million, While China is Forecast to Grow at 8.9% CAGR

The Boring Tools market in the U. S. is estimated at US$894.6 Million in the year 2020. China, the world`s second largest economy, is forecast to reach a projected market size of US$1 Billion by the year 2027 trailing a CAGR of 8.9% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.1% and 5.2% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.7% CAGR.

Precision Engineering Segment to Record 5.5% CAGR

In the global Precision Engineering segment, USA, Canada, Japan, China and Europe will drive the 5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$469.9 Million in the year 2020 will reach a projected size of US$663.2 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$660.7 Million by the year 2027, while Latin America will expand at a 6.7% CAGR through the analysis period.

Competitors identified in this market include, among others:

Advanced Carbide Tool Company
Alesa AG
Allegheny Technologies, Inc. (ATI)
AMAMCO Tool
Asahi Diamond Industrial Co., Ltd.
BECKER Diamantwerkzeuge GmbH
BIG KAISER Precision Tooling, Inc.
Boehlerit GmbH & Co. KG
CeramTec GmbH
CERATIZIT Deutschland GmbH
Cerin S. p. A.
DAPRA Corporation
DIJET Industrial Co., Ltd.
Dorian Tool International Incorporated
Dura-Mill, Inc.
Elenco Carbide Tool Corporation
Ferguson Enterprises, Inc.
Five Star Tool Company
Forbes & Company Limited
Fullerton Tool Company
Guhring KG
Harvey Tool Company, LLC
Higred Tools Co. Ltd.
IMCO Carbide Tool Inc.
Internal Tool, Inc.
ISCAR Ltd.
Jarvis Cutting Tools
Kennametal Inc.
KOMET GROUP GmbH
KYOCERA SGS Precision Tools
LMT TOOLS
LUKAS-ERZETT Vereinigte Schleif- und Fraswerkzeugfabriken GmbH & Co. KG
M. A. Ford Mfg. Co., Inc.
MAPAL Dr. Kress KG
Mastercut Tool Corporation
Melin Tool Company
Miranda Tools
Mitsubishi Materials Corporation
Morgood Tools, Inc.
Nachi-Fujikoshi Corporation
OSG Corporation
Rigibore Ltd.
Rock River Tool Inc.
Sandvik AB
SECO Tools AB
Swiss Tool Systems AG
Walter AG

Key Topics Covered:

I. INTRODUCTION, METHODOLOGY & REPORT SCOPE

II. EXECUTIVE SUMMARY

1. MARKET OVERVIEW

Global Competitor Market Shares
Boring Tools Competitor Market Share Scenario Worldwide (in %): 2019 & 2025
Impact of Covid-19 and a Looming Global Recession

2. FOCUS ON SELECT PLAYERS

3. MARKET TRENDS & DRIVERS

4. GLOBAL MARKET PERSPECTIVE

III. MARKET ANALYSIS

IV. COMPETITION

Total Companies Profiled: 47

For more information about this report visit https://www.researchandmarkets.com/r/niapg

Research and Markets also offers Custom Research services providing focused, comprehensive and tailored research.

Media Contact:

Research and Markets
Laura Wood, Senior Manager
[email protected]

For E.S.T Office Hours Call +1-917-300-0470
For U.S./CAN Toll Free Call +1-800-526-8630
For GMT Office Hours Call +353-1-416-8900

U.S. Fax: 646-607-1907
Fax (outside U.S.): +353-1-481-1716

SOURCE Research and Markets