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.
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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.
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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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