Portugal Cutting Tools Market Forecast to 2028

Report Code : TIPRE00029288 | Region : Europe | Industry : Manufacturing and Construction | Published Date : 24/May/2022
Portugal Cutting Tools Market Forecast to 2028 - COVID-19 Impact and Country Analysis By Type (Turning Tools, Drilling Tools, Milling Tools, Threading & Grooving Tools, and Others), Material [High-Speed Steel (HSS), Carbides, Ceramics, and Others], and End User (Manufacturing, Automotive, Aerospace & Defense, Marine, Metal & Wood, and Others)

The Portugal cutting tools market is expected to grow from US$ 90.90 million in 2021 to US$ 119.24 million by 2028; it is estimated to grow at a CAGR of 4.2% from 2022 to 2028.

The increasing demand from the automobile industry is a primary driver of the Portugal cutting tools market growth. Cutting tools are used for milling, grinding, and broaching automotive car parts and have a large market share in the automotive industry. With their high precision, durability, and repeatability throughout manufacturing activities, the cutting tools market is an efficient and cost-effective way to boost total productivity. The latest techniques such as high-speed cutting, dry machining, hard machining, and new cutting technology have modified the traditional approach. The vehicle industry covers various professional tool applications. In the automotive industry, carbide cutters are now commonly employed.

Portugal's economy is completely integrated with the European Union (EU). The automotive industry is a major contributor to the Portuguese economy. The automotive sector in Portugal consists of 32,200 firms that manufacture automobiles and components, employ 152,000 people directly, and generates €33.7 billion in sales, accounting for 21% of the country's total tax revenue. According to ACAP, the automotive industry accounts for 11% of Portugal's overall exports and contributes 4.8% to the manufacturing sector. Over ~220 automotive suppliers and four major automobile manufacturers—Toyota/Salvador Caetano, PSA Peugeot Citroen, Mitsubishi Trucks, and Volkswagen AutoEuropa—are all based in Portugal. Interface and Industry 4.0 are two public programs that provide incentives to encourage industry innovation. Due to this scenario, cutting tools and other production equipment are projected to be in high demand. Moreover, with 1,360 electric vehicles (BEV—Battery Electric Vehicle) sold in June 2021—the month set an absolute record for monthly sales of 100% electric vehicles, indicating a growing interest among buyers for electric vehicles, which offer greater autonomy, efficiency, and coverage across all market segments. Compared to May 2021, sales of 100% electric vehicles (BEV) increased by 53% and by 168% in May 2021. Thus, increasing usage of cutting tools in the automotive industry will drive the demand for cutting tools in Portugal.

The market for cutting tools market in Portugal is predicted to develop during 2020-2028. The country's industrial production is growing at 3.5%, and the industry accounts for ~22% of the national GDP. Portugal is located between the Atlantic Ocean and its land border with Spain, making it a great location for trade. Moreover, the World Bank Doing Business Dataset ranks Portugal first for ease of cross-border trading. Various cutting tools, including saw blades, taps, reamers, hobs, chasers, broaches, rolling dies, drills, end mills, cutters, burrs, gear cutting tools, tool bits, and tips/inserts, are produced in Portugal. Construction, automotive, railway network, engineering, and defense industries have bolstered cutting tools market. Further, the diamond cutting tools market is the one of the fastest growing consumer of cutting tools.

In the machining sector, a cutting tool or cutter is a hardened metal tool used to cut, shape, and remove material from a workpiece using machining tools and abrasive tools via shear deformation. The majority of these instruments are made specifically for working with metals. Cutting tools are used in several industries, such as construction, carpentry, automotive, and manufacturing, to perform various material cutting operations. There is a wider range of cutting tools in the market with new and unique supplied standards. These tools are frequently packaged in improved formats that incorporate additional technical and application information, making tool selection simple and intuitive. Cutting tools and clamping devices are widely used in boring operations and manufacturing multiple pieces with geometrically complex surfaces, which requires expert explanation. The increased use of cutting tools in various industries has profoundly altered market dynamics.

The automotive manufacturing industry is the primary user of cutting tools. With the changing market situation, cutting tool manufacturers have boosted their efforts to develop and manufacture more innovative designs to meet rising client needs. Technological advancements drive the cutting tools market with workpiece production technologies such as metal injection molding, 3D printing, investment casting, and close-tolerance forging. The Portugal cutting tools market appears to be quite promising, owing to the constantly developing manufacturing industries around the country. Cutting tool usage is predicted to increase tremendously as industrial sectors grow, meeting the changing needs of clients. As a result, the share of the Portugal cutting tools market is expected to grow during the forecast period.

The overall Portugal cutting tools market size has been derived using both primary and secondary sources. Exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the Portugal cutting tools market. The process also serves the purpose of obtaining an overview and forecast for the Portugal cutting tools market with respect to all the segments. Also, multiple primary interviews have been conducted with industry participants and commentators to validate the data and gain more analytical insights into the topic. The participants of this process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers—along with external consultants such as valuation experts, research analysts, and key opinion leaders–specializing in the Portugal cutting tools market.

Company Profiled:

• DANOBATGROUP

• HS TOOLS Europa, Lda

• Ingersoll Werkzeuge Gmbh

• IZAR CUTTING TOOLS S.A.L

• KYOCERA Portugal

• MEFexport.com

• Palbit; Seco Tools AB

• Tungaloy Corporation

• UT Austin Portugal United Parcel Service of America, Inc.

• Frezite Cutting Tools, SA

• Walter Tools

• ISCAR Ltd

TABLE OF CONTENTS

1. Introduction

1.1 Study Scope

1.2 The Insight Partners Research Report Guidance

1.3 Market Segmentation

2. Key Takeaways

3. Research Methodology

3.1 Coverage

3.2 Secondary Research

3.3 Primary Research

4. Cutting Tools Market Landscape

4.1 Market Overview

4.2 PEST Analysis

4.2.1 Portugal

4.3 Ecosystem Analysis

4.4 Expert Opinions

5. Cutting Tools Market – Key Market Dynamics

5.1 Market Drivers

5.1.1 Growing Automotive Industry

5.1.2 Increasing Demand for High-Speed Cutting Tools

5.2 Market Restraints

5.2.1 Raw Material Shortage

5.3 Market Opportunities

5.3.1 Increasing Adoption of Industry 4.0 Solutions

5.4 Future Trends

5.4.1 Advancements in Cutting Tools

6. Cutting Tools– Portugal Market Analysis

6.1 Cutting Tools: Portugal Market Overview

6.2 Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

6.3 Market Positioning – PORTUGAL Market Players Ranking

7. Cutting Tools Market Analysis – By Type

7.1 Overview

7.2 Cutting Tools Market, By Type (2021 and 2028)

7.3 Turning Tools

7.3.1 Overview

7.3.2 Turning Tools: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

7.4 Drilling Tools

7.4.1 Overview

7.4.2 Drilling Tools: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

7.5 Milling Tools

7.5.1 Overview

7.5.2 Milling Tools: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

7.6 Threading and Grooving Tools

7.6.1 Overview

7.6.2 Threading and Grooving Tools: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

7.7 Others

7.7.1 Overview

7.7.2 Others: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

8. Cutting Tools Market Analysis – By Material

8.1 Overview

8.2 Cutting Tools Market, By Material (2021 and 2028)

8.3 High-Speed Steel (HSS)

8.3.1 Overview

8.3.2 High Speed Steel (HSS): Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

8.4 Carbides

8.4.1 Overview

8.4.2 Carbides: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

8.5 Ceramics

8.5.1 Overview

8.5.2 Ceramics: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

8.6 Others

8.6.1 Overview

8.6.2 Others: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

9. Cutting Tools Market Analysis – By End user

9.1 Overview

9.2 Cutting Tools Market, By End User (2021 and 2028)

9.3 Manufacturing

9.3.1 Overview

9.3.2 Manufacturing: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

9.4 Automotive

9.4.1 Overview

9.4.2 Automotive: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

9.5 Aerospace and Defence

9.5.1 Overview

9.5.2 Aerospace and Defence: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

9.6 Marine

9.6.1 Overview

9.6.2 Marine: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

9.7 Metal and Wood

9.7.1 Overview

9.7.2 Metal and Wood: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

9.8 Mould Industry

9.8.1 Overview

9.8.2 Mould Industry: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

9.9 Others

9.9.1 Overview

9.9.2 Others: Cutting Tools Market – Revenue and Forecast to 2028 (US$ Million)

10. Cutting Tools Market - COVID-19 Impact Analysis

10.1 Overview

11. Industry Landscape

11.1 Market Initiative

11.2 Merger and Acquisition

11.3 New Development

12. Company Profiles

12.1 DANOBATGROUP

12.1.1 Key Facts

12.1.2 Business Description

12.1.3 Products and Services

12.1.4 Financial Overview

12.1.5 SWOT Analysis

12.1.6 Key Developments

12.2 HS Tools Europa, Lda

12.2.1 Key Facts

12.2.2 Business Description

12.2.3 Products and Services

12.2.4 Financial Overview

12.2.5 SWOT Analysis

12.2.6 Key Developments

12.3 Ingersoll Werkzuge Gmbh

12.3.1 Key Facts

12.3.2 Business Description

12.3.3 Products and Services

12.3.4 Financial Overview

12.3.5 SWOT Analysis

12.3.6 Key Developments

12.4 IZAR CUTTING TOOLS S.A.L.

12.4.1 Key Facts

12.4.2 Business Description

12.4.3 Products and Services

12.4.4 Financial Overview

12.4.5 SWOT Analysis

12.4.6 Key Developments

12.5 KYOCERA Portugal

12.5.1 Key Facts

12.5.2 Business Description

12.5.3 Products and Services

12.5.4 Financial Overview

12.5.5 SWOT Analysis

12.5.6 Key Developments

12.6 CERATIZIT S.A.

12.6.1 Key Facts

12.6.2 Business Description

12.6.3 Products and Services

12.6.4 Financial Overview

12.6.5 SWOT Analysis

12.6.6 Key Developments

12.7 Palbit S.A.

12.7.1 Key Facts

12.7.2 Business Description

12.7.3 Products and Services

12.7.4 Financial Overview

12.7.5 SWOT Analysis

12.7.6 Key Developments

12.8 Seco Tools AB

12.8.1 Key Facts

12.8.2 Business Description

12.8.3 Products and Services

12.8.4 Financial Overview

12.8.5 SWOT Analysis

12.8.6 Key Developments

12.9 Tungaloy Corporation

12.9.1 Key Facts

12.9.2 Business Description

12.9.3 Products and Services

12.9.4 Financial Overview

12.9.5 SWOT Analysis

12.9.6 Key Developments

12.10 Ibercut

12.10.1 Key Facts

12.10.2 Business Description

12.10.3 Products and Services

12.10.4 Financial Overview

12.10.5 SWOT Analysis

12.10.6 Key Developments

12.11 Sandvik Coromant

12.11.1 Key Facts

12.11.2 Business Description

12.11.3 Products and Services

12.11.4 Financial Overview

12.11.5 SWOT Analysis

12.11.6 Key Developments

12.12 Kennametal Inc.

12.12.1 Key Facts

12.12.2 Business Description

12.12.3 Products and Services

12.12.4 Financial Overview

12.12.5 SWOT Analysis

12.12.6 Key Developments

12.13 ISCAR LTD

12.13.1 Key Facts

12.13.2 Business Description

12.13.3 Products and Services

12.13.4 Financial Overview

12.13.5 SWOT Analysis

12.13.6 Key Developments

12.14 Walter Tools

12.14.1 Key Facts

12.14.2 Business Description

12.14.3 Products and Services

12.14.4 Financial Overview

12.14.5 SWOT Analysis

12.14.6 Key Developments

12.15 Frezite Cutting Tools, SA

12.15.1 Key Facts

12.15.2 Business Description

12.15.3 Products and Services

12.15.4 Financial Overview

12.15.5 SWOT Analysis

12.15.6 Key Developments

13. Appendix

13.1 About The Insight Partners

13.2 Word Index

LIST OF TABLES.

Table 1. Cutting Tools Market – Revenue, and Forecast to 2028 (US$ Million)

Table 2. List of Abbreviation

Company Profiled:

• DANOBATGROUP

• HS TOOLS Europa, Lda

• Ingersoll Werkzeuge Gmbh

• IZAR CUTTING TOOLS S.A.L

• KYOCERA Portugal

• MEFexport.com

• Palbit; Seco Tools AB

• Tungaloy Corporation

• UT Austin Portugal United Parcel Service of America, Inc.

• Frezite Cutting Tools, SA

• Walter Tools

• ISCAR Ltd

Reason To Buy

• To understand the Portugal cutting tools market landscape and identify market segments that are most likely to guarantee a strong return

• To stay ahead of the race by comprehending the ever-changing competitive landscape for the Portugal cutting tools market

• To efficiently plan M&A and partnership deals in the Portugal cutting tools market by identifying market segments with the most promising probable sales

• To help in taking knowledgeable business decisions from perceptive and comprehensive analysis of the market performance of various segments in the Portugal cutting tools market

• To obtain the Portugal cutting tools market revenue forecast by various segments from 2021 to 2028.

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