Cutting tool and machine tool accessory
manufacturing industry includes establishments manufacturing accessories and
attachments for metal cutting and metal forming machine tools. Industry
products include blade cutters, small knives and drilling bits, as well as
clampers, holders and tapering attachments. Machine shops, automotive
manufacturers and heavy equipment manufacturers use these cutting and machine
tools and their accessories.
The market was valued
at $32 billion in 2017, and is expected to be driven by the increasing
popularity of 3D laser processing machines. Asia Pacific was the largest
geographic region in the market, accounting for more than half of the global
market share.
The cutting tool and machine tool
accessory manufacturing market in the report is split into the following
segments: metalworking knives and bits, measuring attachments, metalworking
drill bits, and machine tool taps and dies.
China was the largest
country in the market accounting for one-fifth of the global cutting tool and
machine tool accessory manufacturing market.
The top five competitors in the market
are Doosan Machine Tools, Allied Machine & Engineering, Sandvik, Amada Co
Ltd, and Kennametal Inc. Doosan Machine Tools was the largest player in cutting
tool and machine tool accessory market. Doosan’s core businesses are based on
ISB (Infrastructure Support Business).
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