Product Code: A13668
The global high speed steels market is anticipated to reach $9,387.00 million by 2032, growing from $5,342.90 million in 2022 at a CAGR of 6.2% from 2023 to 2032.
High speed steel (HSS) is an iron alloy made with tungsten, molybdenum, chromium, vanadium, carbon, cobalt, manganese, nickel, silicon, titanium, and niobium (also known as columbium). High speed steel is one of the most popular materials used in the manufacturing of cutting tools owing to its combination of hardness and longevity. This factor makes it perfect for cutting and drilling operations.
The increasing use of high-speed steel in various industrial applications, as well as the growing demand from the aerospace industry, are the primary growth factors for the market. The rising demand for high speed steel in the shipbuilding and energy sectors is another major driver for the industry growth. The increased knowledge of the advantages of high-speed steel is also increasing the demand for its use in various industries. The growing usage of high-speed steel in the production of cutting tools is driving the growth in this market.
However, factors such as increased competition and the availability of product alternatives such as carbide-based cutting tools are projected to hamper market expansion. As demand for cutting tools and related applications grows, more companies enter the market, leading to increase in competition. Customers may be drawn away from high-speed steel products if new players offer competitive pricing, creative product designs, or enhanced performance qualities. These factors are anticipated to restrain the market growth in the upcoming years.
The global highspeed steels market is primarily driven by increased manufacturing operations to balance demand for a variety of items such as aircraft, automobiles, and heavy equipment. These instruments have significantly improved the capacity to cut heavy metals. The development in production and manufacturing activities in automobile, aircraft, infrastructural equipment, and industrial machinery has had a significant impact on the highspeed steels (HSS) market. Several factors, including rising need for new aircraft manufacturing, air travel, and the growing business of the jet industry, are influencing high speed steel demand in the aerospace sector. Furthermore, customer demand has increased as a result of upgraded cabin design, improved operational efficiency, and other facilities. All these factors are anticipated to create several growth opportunities in the high-speed steels market during the forecast years.
The COVID-19 pandemic had a significant impact on various industries worldwide. The pandemic disrupted global supply chains, affecting the availability of raw materials, components, and finished products. High-speed steel manufacturers faced challenges in procuring raw materials and ensuring a smooth production process. This led to supply shortages and delays in delivering high-speed steel products to customers. Many industries experienced temporary shutdowns or reduced operations during the pandemic due to lockdowns, social distancing measures, and reduced consumer demand. This decline in industrial activities directly impacted the demand for high-speed steel products, as their primary applications are in manufacturing, construction, and automotive sectors.
The key players profiled in this report include Sandvik AB, NIPPON KOSHUHA STEEL CO., LTD., Proterial, Ltd., ArcelorMittal, Amada Co., Ltd, OSG corporation, Kennametal, Kyocera, Walter AG, and RUKO GmbH.
Key Benefits For Stakeholders
- This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the high speed steels market analysis from 2022 to 2032 to identify the prevailing high speed steels market opportunities.
- The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the high speed steels market segmentation assists to determine the prevailing market opportunities.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global high speed steels market trends, key players, market segments, application areas, and market growth strategies.
Additional benefits you will get with this purchase are:
- Quarterly Update and* (only available with a corporate license, on listed price)
- 5 additional Company Profile of client Choice pre- or Post-purchase, as a free update.
- Free Upcoming Version on the Purchase of Five and Enterprise User License.
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- 15% Free Customization* (in case the scope or segment of the report does not match your requirements, 15% is equivalent to 3 working days of free work, applicable once)
- Free data Pack on the Five and Enterprise User License. (Excel version of the report)
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- Free Industry updates and white papers.
Possible Customization with this report (with additional cost and timeline, please talk to the sales executive to know more)
- Product Benchmarking / Product specification and applications
- Technology Trend Analysis
- Go To Market Strategy
- New Product Development/ Product Matrix of Key Players
- Regulatory Guidelines
- Strategic Recommedations
- Additional company profiles with specific to client's interest
- Additional country or region analysis- market size and forecast
- Criss-cross segment analysis- market size and forecast
- Expanded list for Company Profiles
- Historic market data
- Key player details (including location, contact details, supplier/vendor network etc. in excel format)
- Market share analysis of players at global/region/country level
- SWOT Analysis
Key Market Segments
By Grade
- M Grade
- T Grade
- Advance Grade
By End User
- Automotive
- Manufacturing
- Aerospace
- Mechanical Engineering
- Construction
- Others
By Type
- Tungsten High Speed Steel
- Molybdenum High Speed Steel
- Cobalt High Speed Steel
- Others
By Production Method
- Conventional HSS
- Powder Metallurgy (PM) HSS
- Spray Forming (SF) HSS
By Region
- North America
- Europe
- Germany
- UK
- France
- Switzerland
- Italy
- Rest of Europe
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia-Pacific
- LAMEA
- Brazil
- Saudi Arabia
- United Arab Emirates
- South Africa
- Rest of MENA
Key Market Players:
- Sandvik AB
- NIPPON KOSHUHA STEEL CO., LTD.
- Proterial, Ltd.
- ArcelorMittal
- Amada Co., Ltd
- OSG corporation
- Kennametal
- Kyocera
- Walter AG
- RUKO GmbH
TABLE OF CONTENTS
CHAPTER 1: INTRODUCTION
- 1.1. Report description
- 1.2. Key market segments
- 1.3. Key benefits to the stakeholders
- 1.4. Research methodology
- 1.4.1. Primary research
- 1.4.2. Secondary research
- 1.4.3. Analyst tools and models
CHAPTER 2: EXECUTIVE SUMMARY
CHAPTER 3: MARKET OVERVIEW
- 3.1. Market definition and scope
- 3.2. Key findings
- 3.2.1. Top impacting factors
- 3.2.2. Top investment pockets
- 3.3. Porter's five forces analysis
- 3.4. Market dynamics
- 3.4.1. Drivers
- 3.4.2. Restraints
- 3.4.3. Opportunities
- 3.5. Average Selling Price
- 3.6. Market Share Analysis
- 3.7. Brand Share Analysis
- 3.8. Trade Data Analysis
- 3.9. Product Consumption
- 3.10. Value Chain Analysis
- 3.11. Key Regulation Analysis
- 3.12. Patent Landscape
- 3.13. Regulatory Guidelines
- 3.14. Reimbursement Scenario
CHAPTER 4: HIGH SPEED STEELS MARKET, BY TYPE
- 4.1. Overview
- 4.1.1. Market size and forecast
- 4.2. Tungsten High Speed Steel
- 4.2.1. Key market trends, growth factors and opportunities
- 4.2.2. Market size and forecast, by region
- 4.2.3. Market share analysis by country
- 4.3. Molybdenum High Speed Steel
- 4.3.1. Key market trends, growth factors and opportunities
- 4.3.2. Market size and forecast, by region
- 4.3.3. Market share analysis by country
- 4.4. Cobalt High Speed Steel
- 4.4.1. Key market trends, growth factors and opportunities
- 4.4.2. Market size and forecast, by region
- 4.4.3. Market share analysis by country
- 4.5. Others
- 4.5.1. Key market trends, growth factors and opportunities
- 4.5.2. Market size and forecast, by region
- 4.5.3. Market share analysis by country
CHAPTER 5: HIGH SPEED STEELS MARKET, BY PRODUCTION METHOD
- 5.1. Overview
- 5.1.1. Market size and forecast
- 5.2. Conventional HSS
- 5.2.1. Key market trends, growth factors and opportunities
- 5.2.2. Market size and forecast, by region
- 5.2.3. Market share analysis by country
- 5.3. Powder Metallurgy (PM) HSS
- 5.3.1. Key market trends, growth factors and opportunities
- 5.3.2. Market size and forecast, by region
- 5.3.3. Market share analysis by country
- 5.4. Spray Forming (SF) HSS
- 5.4.1. Key market trends, growth factors and opportunities
- 5.4.2. Market size and forecast, by region
- 5.4.3. Market share analysis by country
CHAPTER 6: HIGH SPEED STEELS MARKET, BY GRADE
- 6.1. Overview
- 6.1.1. Market size and forecast
- 6.2. M Grade
- 6.2.1. Key market trends, growth factors and opportunities
- 6.2.2. Market size and forecast, by region
- 6.2.3. Market share analysis by country
- 6.3. T Grade
- 6.3.1. Key market trends, growth factors and opportunities
- 6.3.2. Market size and forecast, by region
- 6.3.3. Market share analysis by country
- 6.4. Advance Grade
- 6.4.1. Key market trends, growth factors and opportunities
- 6.4.2. Market size and forecast, by region
- 6.4.3. Market share analysis by country
CHAPTER 7: HIGH SPEED STEELS MARKET, BY END USER
- 7.1. Overview
- 7.1.1. Market size and forecast
- 7.2. Automotive
- 7.2.1. Key market trends, growth factors and opportunities
- 7.2.2. Market size and forecast, by region
- 7.2.3. Market share analysis by country
- 7.3. Manufacturing
- 7.3.1. Key market trends, growth factors and opportunities
- 7.3.2. Market size and forecast, by region
- 7.3.3. Market share analysis by country
- 7.4. Aerospace
- 7.4.1. Key market trends, growth factors and opportunities
- 7.4.2. Market size and forecast, by region
- 7.4.3. Market share analysis by country
- 7.5. Mechanical Engineering
- 7.5.1. Key market trends, growth factors and opportunities
- 7.5.2. Market size and forecast, by region
- 7.5.3. Market share analysis by country
- 7.6. Construction
- 7.6.1. Key market trends, growth factors and opportunities
- 7.6.2. Market size and forecast, by region
- 7.6.3. Market share analysis by country
- 7.7. Others
- 7.7.1. Key market trends, growth factors and opportunities
- 7.7.2. Market size and forecast, by region
- 7.7.3. Market share analysis by country
CHAPTER 8: HIGH SPEED STEELS MARKET, BY REGION
- 8.1. Overview
- 8.1.1. Market size and forecast By Region
- 8.2. North America
- 8.2.1. Key market trends, growth factors and opportunities
- 8.2.2. Market size and forecast, by Type
- 8.2.3. Market size and forecast, by Production Method
- 8.2.4. Market size and forecast, by Grade
- 8.2.5. Market size and forecast, by End User
- 8.2.6. Market size and forecast, by country
- 8.2.6.1. U.S.
- 8.2.6.1.1. Market size and forecast, by Type
- 8.2.6.1.2. Market size and forecast, by Production Method
- 8.2.6.1.3. Market size and forecast, by Grade
- 8.2.6.1.4. Market size and forecast, by End User
- 8.2.6.2. Canada
- 8.2.6.2.1. Market size and forecast, by Type
- 8.2.6.2.2. Market size and forecast, by Production Method
- 8.2.6.2.3. Market size and forecast, by Grade
- 8.2.6.2.4. Market size and forecast, by End User
- 8.2.6.3. Mexico
- 8.2.6.3.1. Market size and forecast, by Type
- 8.2.6.3.2. Market size and forecast, by Production Method
- 8.2.6.3.3. Market size and forecast, by Grade
- 8.2.6.3.4. Market size and forecast, by End User
- 8.3. Europe
- 8.3.1. Key market trends, growth factors and opportunities
- 8.3.2. Market size and forecast, by Type
- 8.3.3. Market size and forecast, by Production Method
- 8.3.4. Market size and forecast, by Grade
- 8.3.5. Market size and forecast, by End User
- 8.3.6. Market size and forecast, by country
- 8.3.6.1. Germany
- 8.3.6.1.1. Market size and forecast, by Type
- 8.3.6.1.2. Market size and forecast, by Production Method
- 8.3.6.1.3. Market size and forecast, by Grade
- 8.3.6.1.4. Market size and forecast, by End User
- 8.3.6.2. UK
- 8.3.6.2.1. Market size and forecast, by Type
- 8.3.6.2.2. Market size and forecast, by Production Method
- 8.3.6.2.3. Market size and forecast, by Grade
- 8.3.6.2.4. Market size and forecast, by End User
- 8.3.6.3. France
- 8.3.6.3.1. Market size and forecast, by Type
- 8.3.6.3.2. Market size and forecast, by Production Method
- 8.3.6.3.3. Market size and forecast, by Grade
- 8.3.6.3.4. Market size and forecast, by End User
- 8.3.6.4. Switzerland
- 8.3.6.4.1. Market size and forecast, by Type
- 8.3.6.4.2. Market size and forecast, by Production Method
- 8.3.6.4.3. Market size and forecast, by Grade
- 8.3.6.4.4. Market size and forecast, by End User
- 8.3.6.5. Italy
- 8.3.6.5.1. Market size and forecast, by Type
- 8.3.6.5.2. Market size and forecast, by Production Method
- 8.3.6.5.3. Market size and forecast, by Grade
- 8.3.6.5.4. Market size and forecast, by End User
- 8.3.6.6. Rest of Europe
- 8.3.6.6.1. Market size and forecast, by Type
- 8.3.6.6.2. Market size and forecast, by Production Method
- 8.3.6.6.3. Market size and forecast, by Grade
- 8.3.6.6.4. Market size and forecast, by End User
- 8.4. Asia-Pacific
- 8.4.1. Key market trends, growth factors and opportunities
- 8.4.2. Market size and forecast, by Type
- 8.4.3. Market size and forecast, by Production Method
- 8.4.4. Market size and forecast, by Grade
- 8.4.5. Market size and forecast, by End User
- 8.4.6. Market size and forecast, by country
- 8.4.6.1. China
- 8.4.6.1.1. Market size and forecast, by Type
- 8.4.6.1.2. Market size and forecast, by Production Method
- 8.4.6.1.3. Market size and forecast, by Grade
- 8.4.6.1.4. Market size and forecast, by End User
- 8.4.6.2. Japan
- 8.4.6.2.1. Market size and forecast, by Type
- 8.4.6.2.2. Market size and forecast, by Production Method
- 8.4.6.2.3. Market size and forecast, by Grade
- 8.4.6.2.4. Market size and forecast, by End User
- 8.4.6.3. India
- 8.4.6.3.1. Market size and forecast, by Type
- 8.4.6.3.2. Market size and forecast, by Production Method
- 8.4.6.3.3. Market size and forecast, by Grade
- 8.4.6.3.4. Market size and forecast, by End User
- 8.4.6.4. South Korea
- 8.4.6.4.1. Market size and forecast, by Type
- 8.4.6.4.2. Market size and forecast, by Production Method
- 8.4.6.4.3. Market size and forecast, by Grade
- 8.4.6.4.4. Market size and forecast, by End User
- 8.4.6.5. Australia
- 8.4.6.5.1. Market size and forecast, by Type
- 8.4.6.5.2. Market size and forecast, by Production Method
- 8.4.6.5.3. Market size and forecast, by Grade
- 8.4.6.5.4. Market size and forecast, by End User
- 8.4.6.6. Rest of Asia-Pacific
- 8.4.6.6.1. Market size and forecast, by Type
- 8.4.6.6.2. Market size and forecast, by Production Method
- 8.4.6.6.3. Market size and forecast, by Grade
- 8.4.6.6.4. Market size and forecast, by End User
- 8.5. LAMEA
- 8.5.1. Key market trends, growth factors and opportunities
- 8.5.2. Market size and forecast, by Type
- 8.5.3. Market size and forecast, by Production Method
- 8.5.4. Market size and forecast, by Grade
- 8.5.5. Market size and forecast, by End User
- 8.5.6. Market size and forecast, by country
- 8.5.6.1. Brazil
- 8.5.6.1.1. Market size and forecast, by Type
- 8.5.6.1.2. Market size and forecast, by Production Method
- 8.5.6.1.3. Market size and forecast, by Grade
- 8.5.6.1.4. Market size and forecast, by End User
- 8.5.6.2. Saudi Arabia
- 8.5.6.2.1. Market size and forecast, by Type
- 8.5.6.2.2. Market size and forecast, by Production Method
- 8.5.6.2.3. Market size and forecast, by Grade
- 8.5.6.2.4. Market size and forecast, by End User
- 8.5.6.3. United Arab Emirates
- 8.5.6.3.1. Market size and forecast, by Type
- 8.5.6.3.2. Market size and forecast, by Production Method
- 8.5.6.3.3. Market size and forecast, by Grade
- 8.5.6.3.4. Market size and forecast, by End User
- 8.5.6.4. South Africa
- 8.5.6.4.1. Market size and forecast, by Type
- 8.5.6.4.2. Market size and forecast, by Production Method
- 8.5.6.4.3. Market size and forecast, by Grade
- 8.5.6.4.4. Market size and forecast, by End User
- 8.5.6.5. Rest of MENA
- 8.5.6.5.1. Market size and forecast, by Type
- 8.5.6.5.2. Market size and forecast, by Production Method
- 8.5.6.5.3. Market size and forecast, by Grade
- 8.5.6.5.4. Market size and forecast, by End User
CHAPTER 9: COMPETITIVE LANDSCAPE
- 9.1. Introduction
- 9.2. Top winning strategies
- 9.3. Product mapping of top 10 player
- 9.4. Competitive dashboard
- 9.5. Competitive heatmap
- 9.6. Top player positioning, 2022
CHAPTER 10: COMPANY PROFILES
- 10.1. Sandvik AB
- 10.1.1. Company overview
- 10.1.2. Key executives
- 10.1.3. Company snapshot
- 10.2. NIPPON KOSHUHA STEEL CO., LTD.
- 10.2.1. Company overview
- 10.2.2. Key executives
- 10.2.3. Company snapshot
- 10.3. Proterial, Ltd.
- 10.3.1. Company overview
- 10.3.2. Key executives
- 10.3.3. Company snapshot
- 10.4. ArcelorMittal
- 10.4.1. Company overview
- 10.4.2. Key executives
- 10.4.3. Company snapshot
- 10.5. Amada Co., Ltd
- 10.5.1. Company overview
- 10.5.2. Key executives
- 10.5.3. Company snapshot
- 10.6. OSG corporation
- 10.6.1. Company overview
- 10.6.2. Key executives
- 10.6.3. Company snapshot
- 10.7. Kennametal
- 10.7.1. Company overview
- 10.7.2. Key executives
- 10.7.3. Company snapshot
- 10.8. Kyocera
- 10.8.1. Company overview
- 10.8.2. Key executives
- 10.8.3. Company snapshot
- 10.9. Walter AG
- 10.9.1. Company overview
- 10.9.2. Key executives
- 10.9.3. Company snapshot
- 10.10. RUKO GmbH
- 10.10.1. Company overview
- 10.10.2. Key executives
- 10.10.3. Company snapshot