HSS Cutting Tool Market Size to Reach $10.7B by 2028, Driven by Manufacturing Demand for Precision and Quality Machining
• Market size valued at $8.5B in 2022, projected to reach $10.7B by 2028, growing at a CAGR of 3.9%
• Driven by growth in manufacturing industry and demand for precision, consistency, high-quality, and efficiency
• Automotive sector major adopter of HSS cutting tools for manufacturing with accuracy and repeatability
• Market divided into key segments like milling, drilling, tapping, reaming, broaching; conventional vs CNC technology
• North America, Asia Pacific, Europe leading regions amid healthy competition between major players like Sandvik, Kennametal, Nachi America