Wilmington, Delaware, Nov. 28, 2023 (GLOBE NEWSWIRE) -- According to RationalStat’s most recent industry analysis, the Global Diamond Tools Market value is estimated at US$ 2.3 billion in 2023 and is expected to rise at a strong CAGR of over 6.3% over the forecast period of 2023-2030.
Market Definition, Market Scope, and Report Overview
Diamond tools are cutting, grinding, and drilling tools that have diamond grains on their working surfaces. These tools are widely used in various industries for cutting, shaping, and finishing hard materials such as stone, concrete, glass, ceramics, and metal. The use of diamond in these tools is due to its exceptional hardness and abrasion resistance, making it ideal for working with materials that are difficult to cut or shape using traditional tools.
Diamond tools find applications in manufacturing and processing industries such as automotive, aerospace, electronics, and more. The precision and efficiency offered by diamond tools contribute to their increasing use in these sectors.
According to a deep-dive market assessment by RationalStat, the global diamond tools market has been analyzed on the basis of market segments, including type, manufacturing method, application and geography/regions (including North America, Latin America, Western Europe, Eastern Europe, Middle East & Africa, and Asia Pacific). The report also offers global and regional market sizing for the historical period of 2019-2022 and the forecast period of 2023-2030.
- Market intelligence for the global Diamond Tools market covers market sizes on the basis of market value (US$/EUR Million), volume (Units) by various products/services/equipment, demand assessment across the key regions, customer sentiments, price points, cost structures, margin analysis across the value chain, financial assessments, historical and forecast data, key developments across the industry, import-export data, trade overview, components market by leading companies, etc.
- In addition, the long-term sector and products/services 10-year outlook and its implications on the global Diamond Tools market. It also includes the industry's current state – Production Levels, Capacity Utilization, Tech quotient, etc. Key information will be manufacturing capacity by country, installed base, import volumes, market size, key players, market size, dynamics, market data, insights, etc.
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Global Diamond Tools Market: Segmental and Market Share Analysis
- On the basis of type, abrasive segment held the highest revenue share with over US$ 2.5 billion in 2022. The segment is witnessing growth owing to the growing demand for floor finishing in the construction industry.
- On the basis of application, diamond tools segment accounted for over 22% in 2022. Due to rising spending on construction activities across the globe.
Report Synopsis
| Report Metrics | Details |
| Base Year | 2023 |
| Forecast Period | 2023-2030 |
| Base Year Market Size | US$ 2.3 billion |
| Market Size Forecast | US$ 3.5 billion |
| Growth Rate | 6.3% |
| Dominant Segment | Abrasive |
| Dominant Region | Asia Pacific |
| Key Market Drivers |
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| Companies Profiled |
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Competition Analysis and Market Structure
Some leading players adopt various strategies in order to reinforce their market share and gain a competitive edge over other competitors in the market. Mergers & and acquisitions, partnerships and collaborations, and product launches are some of the strategies followed by industry players. Some of the key developments in the global diamond tools market include.
- In April 2023, Husqvarna introduced a new Ulti-Grit series of diamond flat saw blades. The new segment has a redesigned design that makes use of Husqvarna's most recent advances in controlled diamond dispersion.
Some of the prominent players and suppliers operating and contributing significantly to the global diamond tools market growth include Husqvarna Group, Ehwa Industrial Co., Ltd., Asahi Diamond Industrial Co., Ltd., Hilti Corporation, Blount International Inc., Saint Gobain, Robert Bosch, OX Group International, and MK Diamond Products Inc., among others.
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RationalStat has segmented the global diamond tools market based on type, manufacturing method, application and region
- Global Diamond Tools Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Type
- Abrasive
- Cutting Tools
- Drilling Tools
- Sawing Tools
- Global Diamond Tools Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Manufacturing Method
- Metal Bonded
- Resin Bonded
- Electroplated
- Global Diamond Tools Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Application
- Stone Processing
- Transportation
- Machining
- Geological Prospecting
- Construction
- Global Diamond Tools Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Region
- North America Diamond Tools Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- US
- Canada
- Latin America Diamond Tools Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- Brazil
- Mexico
- Rest of Latin America
- Western Europe Diamond Tools Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- Germany
- UK
- France
- Spain
- Italy
- Benelux
- Nordic
- Rest of Western Europe
- Eastern Europe Diamond Tools Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- Russia
- Poland
- Hungary
- Other CIS Countries
- Rest of Eastern Europe
- Asia Pacific Diamond Tools Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- China
- Japan
- India
- South Korea
- Australia
- ASEAN
- Indonesia
- Thailand
- Philippines
- Vietnam
- Malaysia
- Rest of ASEAN
- Rest of Asia Pacific
- Middle East & Africa Diamond Tools Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
- GCC
- Saudi Arabia (KSA)
- United Arab Emirates (UAE)
- Rest of the GCC
- South Africa
- Nigeria
- Turkey
- Rest of the Middle East & Africa
- GCC
- North America Diamond Tools Market Value (US$ Million), Volume (Units) and Market Share (2019-2030) Analysis by Country
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Key Questions Answered in the Diamond Tools Report:
- What will be the market value of the global Diamond Tools market by 2030?
- What is the market size of the global Diamond Tools market?
- What are the market drivers of the global Diamond Tools market?
- What are the key trends in the global Diamond Tools market?
- Which is the leading region in the global Diamond Tools market?
- What are the major companies operating in the global Diamond Tools market?
- What are the market shares by key segments in the global Diamond Tools market?
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Research Methodology
RationalStat has developed a state-of-the-art research methodology to crunch numbers and provide the best possible real-time insights to clients. We combine a varied range of industry experience, data analytics, and experts’ viewpoint to create a research methodology for market sizing and forecasting.
RationalStat combines a mix of secondary sources as well as primary research to assess the market size and develop a forecast. Key steps involved in accurately deriving the market numbers are:
- Defining the problem by understanding the type of market and data required by the client.
- Data gathering and collection through relevant paid databases, publicly available sources, company reports, annual reports, surveys, and interviews.
- Formulating a hypothesis to create market numbers, forecasts, influencing factors, and their relevance.
- Evaluating and analyzing the data by referring to data sources utilized and leveraged.
- Validating, interpreting, and finalizing the data by combining the details gathered from primary and secondary sources with the help of experienced analysts.
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About RationalStat LLC
RationalStat is an end-to-end global market intelligence and consulting company that provides comprehensive market research reports, customized strategy, and consulting studies. The company has sales offices in India, Mexico, and the US to support global and diversified businesses. The company has over 80 consultants and industry experts, developing more than 850 market research and industry reports for its report store annually.
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