Dublin, Oct. 19, 2020 (GLOBE NEWSWIRE) -- 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/j7gi5b
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