North America Cutting Tools Market

North America Cutting Tools Market 2023-2033 by Tool Type (Solid Round, Indexable), Product (Groovers, Reamers, Milling Cutters, Drills), Material (Cemented Carbide, HSS, Ceramics, CBN), Chip Breaker (Step, Ridge, Universal, Separate), Application, Industry Vertical, Distribution Channel (Offline, Online), and Country: Trend Forecast and Growth Opportunity

North America Cutting Tools Market

North America Cutting Tools Market 2023-2033 by Tool Type (Solid Round, Indexable), Product (Groovers, Reamers, Milling Cutters, Drills), Material (Cemented Carbide, HSS, Ceramics, CBN), Chip Breaker (Step, Ridge, Universal, Separate), Application, Industry Vertical, Distribution Channel (Offline, Online), and Country: Trend Forecast and Growth Opportunity


The Global North America Cutting Tools Market investigation report contains Types, Application & all logical and factual briefs about market Overview, CAGR, Production Volume, Sales, Revenue with the regional analysis covers North America, Europe, Asia-Pacific, South America, Middle East & Africa & The top Players like {playerNamesStr}

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North America cutting tools market is projected to grow by 4.2% annually in the forecast period and reach $12.24 million by 2033. The growth is driven by the increasing production and manufacturing activities, improved operational efficiency and innovative design, and an increasing demand for power tools for DIY activities.

Highlighted with 64 tables and 44 figures, this 140-page report “North America Cutting Tools Market 2023-2033 by Tool Type (Solid Round, Indexable), Product (Groovers, Reamers, Milling Cutters, Drills), Material (Cemented Carbide, HSS, Ceramics, CBN), Chip Breaker (Step, Ridge, Universal, Separate), Application, Industry Vertical, Distribution Channel (Offline, Online), and Country: Trend Forecast and Growth Opportunity” is based on comprehensive research of the entire North America cutting tools market and all its sub-segments through extensively detailed classifications. Profound analysis and assessment are generated from premium primary and secondary information sources with inputs derived from industry professionals across the value chain. The report is based on studies on 2021-2023 and provides forecast from 2024 till 2033 with 2023 as the base year. (Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)

In-depth qualitative analyses include identification and investigation of the following aspects:

• Market Structure

• Growth Drivers

• Restraints and Challenges

• Emerging Product Trends & Market Opportunities

• Porter’s Fiver Forces

The trend and outlook of North America market is forecast in optimistic, balanced, and conservative view by taking into account of COVID-19 and Russia-Ukraine conflict. The balanced (most likely) projection is used to quantify North America cutting tools market in every aspect of the classification from perspectives of Tool Type, Product, Material, Chip Breaker, Application, Industry Vertical, Distribution Channel, and Country.

Based on Tool Type, the North America market is segmented into the following sub-markets with annual revenue ($ mn) and volume (million units) for 2023-2033 included in each section.

• Solid Round Tools

• Indexable Cutting Tools

Based on Product, the North America market is segmented into the following sub-markets with annual revenue ($ mn) and volume (million units) for 2023-2033 included in each section.

• Groovers

• Reamers

• Milling Cutters

• Drills

• Other Products

By Material, the North America market is segmented into the following sub-markets with annual revenue ($ mn) and volume (million units) for 2023-2033 included in each section.

• Cemented Carbide

• High-speed Steel (HSS)

• Ceramics

• Cubic Boron Nitride (CBN)

• Other Materials

By Chip Breaker, the North America market is segmented into the following sub-markets with annual revenue ($ mn) and volume (million units) for 2023-2033 included in each section.

• Step/Shelf Chip Breaker

• Groove/Ridge Chip Breaker

• Universal Chip Breaker

• Separate Chip Breaker

By Application, the North America market is segmented into the following sub-markets with annual revenue ($ mn) and volume (million units) for 2023-2033 included in each section.

• Threading & Milling

• Shearing & Parting

• Grooving & Drilling

• Boring

By Industry Vertical, the North America market is segmented into the following sub-markets with annual revenue ($ mn) and volume (million units) for 2023-2033 included in each section.

• Automotive Industry

• General Manufacturing

• Aerospace & Defense

• Oil & Gas

• Electronics Industry

• Construction

• Energy & Power

• Medical Industry

• Other Industry Verticals

By Distribution Channel, the North America market is segmented into the following sub-markets with annual revenue ($ mn) and volume (million units) for 2023-2033 included in each section.

• Offline Sales

• Online Sales

Geographically, the following national/local markets are fully investigated:

• U.S.

• Canada

• Mexico

For each key country, detailed analysis and data for annual revenue ($ mn) are available for 2023-2033. The breakdown of national markets by Tool Type, Material, and Industry Vertical over the forecast years are also included.

The report also covers the current competitive scenario and the predicted trend; and profiles key vendors including market leaders and important emerging players.

Selected Key Players:

Ceratizit Group

Fraisa SA

Hikoki

Hilti Corporation

ICS Cutting Tools Inc.

Ingersoll Cutting Tools

Iscar Ltd.

J Schneeberger Maschinen AG

Kelin Tools

Kennametal Inc.

Kyocera

Makita Corporation

Mapal

OSG Corporation

OTTO BAIER GmbH

Robert Bosch

Sandvik AG

Snap-on Incorporated

Stanley Black & Decker

Vollmer

(Please note: The report will be updated before delivery so that the latest historical year is the base year, and the forecast covers at least 5 years over the base year.)

1 Introduction 8

1.1 Industry Definition and Research Scope 8

1.1.1 Industry Definition 8

1.1.2 Research Scope 9

1.2 Research Methodology 12

1.2.1 Overview of Market Research Methodology 12

1.2.2 Market Assumption 13

1.2.3 Secondary Data 13

1.2.4 Primary Data 13

1.2.5 Data Filtration and Model Design 14

1.2.6 Market Size/Share Estimation 15

1.2.7 Research Limitations 16

1.3 Executive Summary 17

2 Market Overview and Dynamics 20

2.1 Market Size and Forecast 20

2.1.1 Impact of COVID-19 on World Economy 22

2.1.2 Impact of COVID-19 on the Market 26

2.1.3 Impact of Russia-Ukraine Conflict 28

2.1.4 Impact of Israel-Palestine War 30

2.2 Major Growth Drivers 32

2.3 Market Restraints and Challenges 35

2.4 Emerging Opportunities and Market Trends 38

2.5 Porter’s Fiver Forces Analysis 42

3 Segmentation of North America Market by Tool Type 46

3.1 Market Overview by Tool Type 46

3.2 Solid Round Tools 50

3.3 Indexable Cutting Tools 51

4 Segmentation of North America Market by Product 52

4.1 Market Overview by Product 52

4.2 Groovers 56

4.3 Reamers 57

4.4 Milling Cutters 58

4.5 Drills 59

4.6 Other Products 60

5 Segmentation of North America Market by Material 61

5.1 Market Overview by Material 61

5.2 Cemented Carbide 65

5.3 High-speed Steel (HSS) 66

5.4 Ceramics 67

5.5 Cubic Boron Nitride (CBN) 68

5.6 Other Materials 69

6 Segmentation of North America Market by Chip Breaker 70

6.1 Market Overview by Chip Breaker 70

6.2 Step/Shelf Chip Breaker 74

6.3 Groove/Ridge Chip Breaker 75

6.4 Universal Chip Breaker 76

6.5 Separate Chip Breaker 77

7 Segmentation of North America Market by Application 78

7.1 Market Overview by Application 78

7.2 Threading & Milling 82

7.3 Shearing & Parting 83

7.4 Grooving & Drilling 84

7.5 Boring 85

8 Segmentation of North America Market by Industry Vertical 86

8.1 Market Overview by Industry Vertical 86

8.2 Automotive Industry 90

8.3 General Manufacturing 91

8.4 Aerospace & Defense 92

8.5 Oil & Gas 93

8.6 Electronics Industry 94

8.7 Construction 95

8.8 Energy & Power 96

8.9 Medical Industry 97

8.10 Other Industry Verticals 98

9 Segmentation of North America Market by Distribution Channel 99

9.1 Market Overview by Distribution Channel 99

9.2 Offline Sales 103

9.3 Online Sales 104

10 North America Market 2023-2033 by Country 105

10.1 Overview of North America Market 105

10.2 U.S. 108

10.3 Canada 111

10.4 Mexico 113

11 Competitive Landscape 115

11.1 Overview of Key Vendors 115

11.2 New Product Launch, Partnership, Investment, and M&A 118

11.3 Company Profiles 119

Ceratizit Group 119

Fraisa SA 121

Hikoki 122

Hilti Corporation 123

ICS Cutting Tools Inc. 124

Ingersoll Cutting Tools 125

Iscar Ltd. 126

J Schneeberger Maschinen AG 127

Kelin Tools 128

Kennametal Inc. 129

Kyocera 130

Makita Corporation 131

Mapal 132

OSG Corporation 133

OTTO BAIER GmbH 134

Robert Bosch 135

Sandvik AG 136

Snap-on Incorporated 137

Stanley Black & Decker 138

Vollmer 139

RELATED REPORTS 140

Tables & Figures:
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Research Methodology:
This research study involved the extensive usage of both primary and secondary data sources. The research process involved the study of various factors affecting the industry, including the government policy, market environment, competitive landscape, historical data, present trends in the market, technological innovation, upcoming technologies and the technical progress in related industry, and market risks, opportunities, market barriers and challenges. The following illustrative figure shows the market research methodology applied in this report.
North America Cutting Tools Market Size Estimation

To estimate market size and trends, we use a combination of top-down and bottom-up methods. This allows us to evaluate the market from various perspectives—by company, region, product type, and end users.

Our estimates are based on actual sales data, excluding any discounts. Segment breakdowns and market shares are calculated using weighted averages based on usage rates and average prices. Regional insights are determined by how widely a product or service is adopted in each area.

Key companies are identified through secondary sources like industry reports and company filings. We then verify revenue estimates and other key data points through primary research, including interviews with industry experts, company executives, and decision-makers.

We take into account all relevant factors that could influence the market and validate our findings with real-world input. Our final insights combine both qualitative and quantitative data to provide a well-rounded view. Please note, these estimates do not account for unexpected changes such as inflation, economic downturns, or policy shifts.

Data Source

Secondary Sources

This study draws on a wide range of secondary sources, including press releases, annual reports, non-profit organizations, industry associations, government agencies, and customs data. We also referred to reputable databases and directories such as Bloomberg, Wind Info, Hoovers, Factiva, Trading Economics, Statista, and others. Additional references include investor presentations, company filings (e.g., SEC), economic data, and documents from regulatory and industry bodies.

These sources were used to gather technical and market-focused insights, identify key players, analyze market segmentation and classification, and track major trends and developments across industries.

Market Size
  • Segmental value
  • Geographic Penetration
  • Product Adoption Rate for Different market
  • Journals, Websites, and Press Releases
  • Annual Reports and SEC Filings
  • Company Websites and Press Releases
  • Public and Paid Databases
  • Market Intellix Data Repository
Market Position of Top Company
  • Product Financials
  • Geographic value Mix
  • Total Company value
  • Business/Segmental value Mix
Qualitative Analysis
  • Influence Factors
  • Market Potential
  • Market Risks and Opportunities
  • Industry Trends
  • Geographical Features
  • Government Policies
  • Company Websites and Press Releases
  • Public and Paid Databases
  • Annual Reports
  • Industry Associations
  • Market Intellix Data Repository

Primary Sources

As part of our primary research, we interviewed a variety of stakeholders from both the supply and demand sides to gather valuable qualitative and quantitative insights.

On the supply side, we spoke with product manufacturers, competitors, industry experts, research institutions, distributors, traders, and raw material suppliers. On the demand side, we engaged with business leaders, marketing and sales heads, technology and innovation directors, supply chain executives, and end users across key organizations.

These conversations helped us better understand market segmentation, pricing, applications, leading players, supply chains, demand trends, industry outlook, and key market dynamics—including risks, opportunities, barriers, and strategic developments.

Key Data Information from Primary Sources

Primary Sources Parameters Key Data
Market Segments(by Application, by Type)
  • Value by Type
  • Status and Forecast
  • Value by Application
  • Value by Regions, Status and Forecast (2025-2031)
  • Value Market Share by Type
  • Value Growth Rate by Type
  • Value by Application
  • Percentage and Growth Rate by Application
  • Value Growth Rate and Market Share by Regions
  • Market Size Status and Forecast (2025-2031)
Total Market
  • Overall Size, Status and Forecast
  • Market Size Status and Forecast (2025-2031)
Frequently asked questions(FAQ's):
Is the North America Cutting Tools Market shifting its focus from growth to value?
Recognize the areas along the North America Cutting Tools Market's value chain where players are generating value. To get a complete picture, kindly read the entire report.
How big is the North America Cutting Tools Market by 2030?
It is expected that the North America Cutting Tools Market will reach USD XX million by 2030.
What are the underlying opportunities in the North America Cutting Tools Market?
The influx of capital into the North America Cutting Tools Market, as well as the deployment of technologies designed to increase efficiency and yield high volume, are paving the way for promising market opportunities.
How is the North America Cutting Tools Market's changing dynamics captured?
The North America Cutting Tools analysis provides high-level qualitative commentary on market dynamics, including information on growth drivers, influential trends, challenges, and opportunities.