What is Global Annular Cutters Market?
The Global Annular Cutters Market is a vast and dynamic sector that deals with the production, distribution, and sale of annular cutters. These are specialized types of cutting tools used in drilling operations, particularly in the metalworking industry. They are designed to cut a clean and precise hole in the workpiece, leaving a solid core or slug at the end of the drilling process. The global market for these tools is quite extensive, encompassing a wide range of industries and applications. The market's value was estimated at US$ 118.5 million in 2022, and it is projected to grow to US$ 153.2 million by 2029. This represents a compound annual growth rate (CAGR) of 3.6% during the forecast period from 2023 to 2029.
HSS Type, TCT Type in the Global Annular Cutters Market:
The Global Annular Cutters Market is segmented based on the type of cutters, primarily into HSS (High-Speed Steel) Type and TCT (Tungsten Carbide Tipped) Type. The HSS Type cutters are the most popular, accounting for about 60% of the market share. These cutters are made from high-speed steel, a type of tool steel known for its ability to withstand higher temperatures without losing its hardness. This makes them ideal for cutting through tough materials like stainless steel and cast iron. On the other hand, TCT Type cutters are tipped with tungsten carbide, a material known for its extreme hardness and resistance to wear. These cutters are typically used for cutting through harder materials and for applications that require a higher level of precision.
General Industrial, Construction Industrial in the Global Annular Cutters Market:
The Global Annular Cutters Market finds its usage in various areas, notably in the General Industrial and Construction Industrial sectors. In the General Industrial sector, these cutters are used in a variety of applications, including the manufacture of machinery, equipment, and other industrial goods. They are particularly useful in situations where a high level of precision and accuracy is required. In the Construction Industrial sector, annular cutters are used in the fabrication of structural components, such as beams and columns, as well as in the construction of buildings and other structures. They are valued for their ability to cut through tough materials quickly and cleanly, making them an essential tool in the construction industry.
Global Annular Cutters Market Outlook:
To rephrase the market outlook for the Global Annular Cutters Market, it can be said that the market was worth US$ 118.5 million in 2022 and is expected to increase to US$ 153.2 million by 2029. This suggests a growth rate of 3.6% CAGR during the forecast period from 2023 to 2029. When it comes to the type of annular cutters, the HSS type holds the majority of the market share, accounting for approximately 60%.
| Report Metric | Details |
| Report Name | Annular Cutters Market |
| Accounted market size in 2023 | US$ 124.2 million |
| Forecasted market size in 2029 | US$ 153.2 million |
| CAGR | 3.6 |
| Base Year | 2023 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Sales by Region |
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| By Company | Hougen, Milwaukee, Nitto Kohki, Fein, BDS, Ruko, EVOLUTION, Zhejiang Xinxing Tools, DEWALT, Euroboor, CHAMPION, ALFRA, Powerbor, KARNASCH, Lalson |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
