Boring Tools Market Analysis 2021-2025: 53% Growth Rate will Develop from APAC
The boring tools market share is expected to grow by USD 1.07 billion, accelerating at a CAGR of 6.22% during the forecast period. The emergence of CNC-based boring tools is a key driver influencing the boring tools market growth. However, the stringent regulations will hamper the market growth. The growth trajectory of the market is traced through a detailed analysis of the prevalent market forces, trends, and drivers along with competitive benchmarking
Boring Tools Market Analysis 2021-2025: View Free Sample Report
Boring Tools Market: APAC to lead market growth during the forecast period
- The boring tools market is segmented by end-user (transportation, general machinery, precision engineering, and others) and geography (APAC, Europe, North America, South America, and MEA).
- Factors such as the growing demand for the automotive, heavy trucks, and manufacturing sectors will facilitate the boring tools market growth in APAC.
- 53% of the market growth will originate from APAC during the forecast period. China and Japan are the key markets for the boring tools market in APAC.
- The rise in demand for fabricated metal in the automotive industry sector is the major boring tools market trend that will influence market growth significantly.
Boring Tools Market: Key Competitors
The market is fragmented due to the presence of several players. To survive and succeed in such an intensely competitive market, players must distinguish their product and service offerings through clear and unique value propositions.
Allied Machine & Engineering Corp., Berkshire Hathaway Inc., BIG KAISER Precision Tooling Inc., CERATIZIT SA, Cogsdill-Nuneaton Ltd., Kennametal Inc., Mitsubishi Materials Corp., NACHI-FUJIKOSHI Corp., OSG Corp., and Sandvik AB are some of the major market participants.
To make the most of the opportunities, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their position in the slow-growing segments. The growth of the players depends on several factors such as market conditions, government support, and industry development. Download the Free PDF Sample Report
Boring Tools Market: Key Highlights of the Report for 2021-2025
- CAGR of the market during the forecast period 2021-2025
- Detailed information on factors that will drive boring tools market growth during the next five years
- Precise estimation of the boring tools market size and its contribution to the parent market
- Accurate predictions on upcoming trends and changes in consumer behavior
- The growth of the boring tools market industry across APAC, Europe, North America, South America, and MEA
- A thorough analysis of the market’s competitive landscape and detailed information on vendors
- Comprehensive details of factors that will challenge the growth of boring tools market vendors
The report provides insights into the following FAQs:
- What is the market CAGR?
The market is accelerating at a CAGR of 6.22%.
- What is the incremental growth of the market?
The market is expected to grow by USD 1.07 billion.
- What is a key factor driving this market?
The emergence of CNC-based boring tools will drive market growth over the forecast period.
- What are the key regions covered in this market research report?
APAC, Europe, North America, South America, and MEA are the key regions featured in this research report.
- Which is the leading geographic region for this market?
53% growth will originate from APAC.
- Who are the leading market vendors?
The leading vendors in this market are Allied Machine & Engineering Corp., Berkshire Hathaway Inc., BIG KAISER Precision Tooling Inc., CERATIZIT SA, Cogsdill-Nuneaton Ltd., Kennametal Inc., Mitsubishi Materials Corp., NACHI-FUJIKOSHI Corp., OSG Corp., and Sandvik AB.
- What are the market segments covered in this report?
The market is segmented by End-user (Transportation, General machinery, Precision engineering, and Others) and Geography (APAC, Europe, North America, South America, and MEA).