The Business Research Company’s report goes into great detail on the cutting tool and machine tool accessory market size and growth, cutting tool and machine tool accessory market regional analysis, cutting tool and machine tool accessory market competitive landscape, and other critical information needed to excel in the cutting tool and machine tool accessory industry.

Major players in the cutting tool and machine tool accessory market include Sandvik AB, Kennametal Inc, Okuma Corporation, Lincoln Electric Holdings Inc, Asahi Diamond Industrial Co. Ltd, NGK Spark Plug Co Ltd, and American Outdoor Brands Corporation.

TBRC’s comprehensive market report based on extensive research will assist you in seamlessly devising your approaches in order to match key market player strategies.

The global cutting tool and machine tool accessory market size is expected to grow from $71.81 billion in 2021 to $79.66 billion in 2022 at a compound annual growth rate (CAGR) of 10.9%. The global cutting tools and machine tool accessories market size is expected to grow to $115.5 billion in 2026 at a CAGR of 9.7%.

Western Europe was the largest region in the cutting tool and machine tool accessory market in 2021.

The cutting tool and machine tool accessory market consists of sales of cutting tool and machine tool accessories by entities (organizations, sole traders, or partnerships) that produce accessories and attachments for metal cutting and metal forming machine tools including knives and bits for metalworking lathes, planers, and shapers, measuring attachments (e.g., sine bars) for machine tools, metalworking drill bits, and taps and dies (i.e., machine tool accessories).

Rapid advances in technology are expected to drive innovation in cutting tool and machine tool accessory manufacturing, thus driving the market during the forecast period.

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Machine tool manufacturers are producing 3D laser processing machines to reduce processing time for laser cutting and welding applications. 3D laser is a 5-axle laser machine that cuts sheet-metal components in three dimensions. Metals including mild steel, stainless less and aluminum can be cut using lasers. Laser cutting significantly reduces the processing time required for cutting applications and thus reduces costs. Other benefits include localized laser energy input, high feed rate, and minimal heat input. 3D lasers are typically used in the automotive and aerospace industry for cutting or welding of aluminum parts, drilling of engine parts, and laser surfacing of used parts.

TBRC’s Global Cutting Tool And Machine Tool Accessory Market Report Is Segmented:
By Type: Metalworking Knives and Bits, Measuring Attachments, Metalworking Drill Bits, Machine Tool Taps and Dies

By Application: Automotive, Manufacturing, Others

By Sales Channel: Direct, Indirect

By Geography: North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa.

The Cutting Tool And Machine Tool Accessory Global Market Report 2022 is one of a series of new reports from The Business Research Company that provides an overview of the cutting tool and machine tool accessory market globally and regionally, analyzes and forecasts market size, share, cutting tool and machine tool accessory market players, cutting tool and machine tool accessory market segments, leading competitor revenues, profiles and market shares.

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