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
Allegheny Technologies, Inc. (ATI)
Asahi Diamond Industrial Co., Ltd.
BECKER Diamantwerkzeuge GmbH
BIG KAISER Precision Tooling, Inc.
Boehlerit GmbH & Co. KG
CERATIZIT Deutschland GmbH
Cerin S. p. A.
DIJET Industrial Co., Ltd.
Dorian Tool International Incorporated
Elenco Carbide Tool Corporation
Ferguson Enterprises, Inc.
Five Star Tool Company
Forbes & Company Limited
Fullerton Tool Company
Harvey Tool Company, LLC
Higred Tools Co. Ltd.
IMCO Carbide Tool Inc.
Internal Tool, Inc.
Jarvis Cutting Tools
KOMET GROUP GmbH
KYOCERA SGS Precision 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
Mitsubishi Materials Corporation
Morgood Tools, Inc.
Rock River Tool Inc.
SECO Tools AB
Swiss Tool Systems 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
Total Companies Profiled: 47
For more information about this report visit https://www.researchandmarkets.com/r/ykpxss
View source version on businesswire.com: https://www.businesswire.com/news/home/20201021005627/en/
Laura Wood, Senior Press Manager
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