Europe Cutting Tools Market Outlook, 2029

The Europe Cutting Tools Market is estimated at USD 10 billion in 2020, driven by growth in the aerospace and defense sector .

According to publisher, Here is the Europe Cutting Tools Market Report. Market Insights Europe's cutting tools market holds the second-largest position globally, driven by a robust manufacturing sector. Key industries like automotive (e.g., Germany's car manufacturing), aerospace (e.g., France's Airbus), and machinery heavily rely on cutting tools for precise machining and production. In 2020, the market size was estimated at around USD 10 billion, and is expected to grow at a CAGR of 4.3% by 2030.

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Asia-Pacific dominates the market and is the largest and fastest-growing market in the animal growth promoters industry globally

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Market Dynamics Growth Drivers: Rising demand for automation and advanced manufacturing techniques, particularly CNC machining, is propelling the market for high-precision cutting tools. Growth in the aerospace and defense sector, which requires high-performance and specialty cutting tools for complex parts, is another growth factor. Restraints: Fluctuations in raw material prices can impact production costs and profitability for manufacturers. Competition from low-cost producers in Asia puts pressure on pricing and margins. Market Segments By Product Type: Milling tools hold the largest share due to their versatility in various applications. Other significant segments include turning tools, drilling tools, and grinding tools. By Material Type: Cemented carbide remains the dominant material for its superior wear resistance and machining capabilities. High-speed steel offers a cost-effective alternative for less demanding applications. Growing demand for high-performance cutting tools is driving the adoption of advanced materials like cubic boron nitride and diamond. By Application: Automotive is the leading consumer segment, followed by aerospace & defense, construction, and electronics. Regional Analysis Germany is the European leader, accounting for a significant market share due to its strong manufacturing base and technological advancements. The UK and France are other prominent markets, with the UK witnessing steady growth, and France experiencing a significant rise in demand from the aerospace sector.

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Manmayi Raval

Manmayi Raval

Research Consultant

Key Developments Manufacturers are focusing on developing innovative cutting tools with improved wear resistance, longer tool life, and better machinability. Sustainability is gaining traction, with companies introducing eco-friendly cutting tools made from recycled materials and with optimized coatings to reduce environmental impact. The rise of e-commerce platforms is providing new avenues for distribution and facilitating easier access to cutting tools for smaller businesses. Competitive Landscape The market is characterized by a mix of established players and emerging companies. Leading players include Sandvik (Sweden), Kennametal (US), Seco Tools (Sweden), and Mapal (Germany). These companies are investing in R&D to develop new technologies and expand their product portfolios. Mergers and acquisitions are also shaping the competitive landscape, with companies aiming to consolidate their market positions and gain access to new technologies and markets. In conclusion, the European cutting tools market presents promising growth prospects driven by advancements in manufacturing and growing demand from key industries. As technology evolves and sustainability considerations gain importance, market participants will need to adapt and innovate to maintain their competitive edge.

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Manmayi Raval

Table of Contents

  • 1.1 Industry Definition and Research Scope 9
  • 1.1.1 Industry Definition 9
  • 1.1.2 Research Scope 10
  • 1.2 Research Methodology 13
  • 1.2.1 Overview of Market Research Methodology 13
  • 1.2.2 Market Assumption 14
  • 1.2.3 Secondary Data 14
  • 1.2.4 Primary Data 14
  • 1.2.5 Data Filtration and Model Design 15
  • 1.2.6 Market Size/Share Estimation 16
  • 1.2.7 Research Limitations 17
  • 1.3 Executive Summary 18
  • 2 Market Overview and Dynamics 21
  • 2.1 Market Size and Forecast 21
  • 2.1.1 Impact of COVID-19 on World Economy 23
  • 2.1.2 Impact of COVID-19 on the Market 27
  • 2.1.3 Impact of Russia-Ukraine Conflict 29
  • 2.1.4 Impact of Israel-Palestine War 31
  • 2.2 Major Growth Drivers 33
  • 2.3 Market Restraints and Challenges 36
  • 2.4 Emerging Opportunities and Market Trends 39
  • 2.5 Porter’s Fiver Forces Analysis 43
  • 3 Segmentation of Europe Market by Tool Type 47
  • 3.1 Market Overview by Tool Type 47
  • 3.2 Solid Round Tools 51
  • 3.3 Indexable Cutting Tools 52
  • 4 Segmentation of Europe Market by Product 53
  • 4.1 Market Overview by Product 53
  • 4.2 Groovers 57
  • 4.3 Reamers 58
  • 4.4 Milling Cutters 59
  • 4.5 Drills 60
  • 4.6 Other Products 61
  • 5 Segmentation of Europe Market by Material 62
  • 5.1 Market Overview by Material 62
  • 5.2 Cemented Carbide 66
  • 5.3 High-speed Steel (HSS) 67
  • 5.4 Ceramics 68
  • 5.5 Cubic Boron Nitride (CBN) 69
  • 5.6 Other Materials 70
  • 6 Segmentation of Europe Market by Chip Breaker 71
  • 6.1 Market Overview by Chip Breaker 71
  • 6.2 Step/Shelf Chip Breaker 75
  • 6.3 Groove/Ridge Chip Breaker 76
  • 6.4 Universal Chip Breaker 77
  • 6.5 Separate Chip Breaker 78
  • 7 Segmentation of Europe Market by Application 79
  • 7.1 Market Overview by Application 79
  • 7.2 Threading & Milling 83
  • 7.3 Shearing & Parting 84
  • 7.4 Grooving & Drilling 85
  • 7.5 Boring 86
  • 8 Segmentation of Europe Market by Industry Vertical 87
  • 8.1 Market Overview by Industry Vertical 87
  • 8.2 Automotive Industry 91
  • 8.3 General Manufacturing 92
  • 8.4 Aerospace & Defense 93
  • 8.5 Oil & Gas 94
  • 8.6 Electronics Industry 95
  • 8.7 Construction 96
  • 8.8 Energy & Power 97
  • 8.9 Medical Industry 98
  • 8.10 Other Industry Verticals 99
  • 9 Segmentation of Europe Market by Distribution Channel 100
  • 9.1 Market Overview by Distribution Channel 100
  • 9.2 Offline Sales 104
  • 9.3 Online Sales 105
  • 10 European Market 2023-2033 by Country 106
  • 10.1 Overview of European Market 106
  • 10.2 Germany 109
  • 10.3 U.K. 111
  • 10.4 France 113
  • 10.5 Spain 115
  • 10.6 Italy 117
  • 10.7 Netherlands 119
  • 10.8 Rest of European Market 121
  • 11 Competitive Landscape 123
  • 11.1 Overview of Key Vendors 123
  • 11.2 New Product Launch, Partnership, Investment, and M&A 126
  • 11.3 Company Profiles 127
  • Ceratizit Group 127
  • Fraisa SA 129
  • Hikoki 130
  • Hilti Corporation 131
  • ICS Cutting Tools Inc. 132
  • Ingersoll Cutting Tools 133
  • Iscar Ltd. 134
  • J Schneeberger Maschinen AG 135
  • Kelin Tools 136
  • Kennametal Inc. 137
  • Kyocera 138
  • Makita Corporation 139
  • Mapal 140
  • OSG Corporation 141
  • OTTO BAIER GmbH 142
  • Robert Bosch 143
  • Sandvik AG 144
  • Snap-on Incorporated 145
  • Stanley Black & Decker 146
  • Vollmer 147
  • RELATED REPORTS 148



Table 1. Snapshot of Europe Cutting Tools Market in Balanced Perspective, 2023-2033 19
Table 2. World Economic Outlook, 2024-2036 24
Table 3. World Economic Outlook, 2022-2024 26
Table 4. Scenarios for Economic Impact of Ukraine Crisis 30
Table 5. Scenarios for Economic Impact of Israel-Palestine War 31
Table 6. Main Product Trends and Market Opportunities in Europe Cutting Tools Market 39
Table 7. Europe Cutting Tools Market by Tool Type, 2023-2033, $ mn 47
Table 8. Europe Cutting Tools Market by Tool Type, 2023-2033, million units 49
Table 9. Europe Cutting Tools Market by Tool Type: Solid Round Tools, 2023-2033, $ mn and million units 51
Table 10. Europe Cutting Tools Market by Tool Type: Indexable Cutting Tools, 2023-2033, $ mn and million units 52
Table 11. Europe Cutting Tools Market by Product, 2023-2033, $ mn 53
Table 12. Europe Cutting Tools Market by Product, 2023-2033, million units 55
Table 13. Europe Cutting Tools Market by Product: Groovers, 2023-2033, $ mn and million units 57
Table 14. Europe Cutting Tools Market by Product: Reamers, 2023-2033, $ mn and million units 58
Table 15. Europe Cutting Tools Market by Product: Milling Cutters, 2023-2033, $ mn and million units 59
Table 16. Europe Cutting Tools Market by Product: Drills, 2023-2033, $ mn and million units 60
Table 17. Europe Cutting Tools Market by Product: Other Products, 2023-2033, $ mn and million units 61
Table 18. Europe Cutting Tools Market by Material, 2023-2033, $ mn 62
Table 19. Europe Cutting Tools Market by Material, 2023-2033, million units 64
Table 20. Europe Cutting Tools Market by Material: Cemented Carbide, 2023-2033, $ mn and million units 66
Table 21. Europe Cutting Tools Market by Material: High-speed Steel (HSS), 2023-2033, $ mn and million units 67
Table 22. Europe Cutting Tools Market by Material: Ceramics, 2023-2033, $ mn and million units 68
Table 23. Europe Cutting Tools Market by Material: Cubic Boron Nitride (CBN), 2023-2033, $ mn and million units 69
Table 24. Europe Cutting Tools Market by Material: Other Materials, 2023-2033, $ mn and million units 70
Table 25. Europe Cutting Tools Market by Chip Breaker, 2023-2033, $ mn 71
Table 26. Europe Cutting Tools Market by Chip Breaker, 2023-2033, million units 73
Table 27. Europe Cutting Tools Market by Chip Breaker: Step/Shelf Chip Breaker, 2023-2033, $ mn and million units 75
Table 28. Europe Cutting Tools Market by Chip Breaker: Groove/Ridge Chip Breaker, 2023-2033, $ mn and million units 76
Table 29. Europe Cutting Tools Market by Chip Breaker: Universal Chip Breaker, 2023-2033, $ mn and million units 77
Table 30. Europe Cutting Tools Market by Chip Breaker: Separate Chip Breaker, 2023-2033, $ mn and million units 78
Table 31. Europe Cutting Tools Market by Application, 2023-2033, $ mn 79
Table 32. Europe Cutting Tools Market by Application, 2023-2033, million units 81
Table 33. Europe Cutting Tools Market by Application: Threading & Milling, 2023-2033, $ mn and million units 83
Table 34. Europe Cutting Tools Market by Application: Shearing & Parting, 2023-2033, $ mn and million units 84
Table 35. Europe Cutting Tools Market by Application: Grooving & Drilling, 2023-2033, $ mn and million units 85
Table 36. Europe Cutting Tools Market by Application: Boring, 2023-2033, $ mn and million units 86
Table 37. Europe Cutting Tools Market by Industry Vertical, 2023-2033, $ mn 87
Table 38. Europe Cutting Tools Market by Industry Vertical, 2023-2033, million units 89
Table 39. Europe Cutting Tools Market by Industry Vertical: Automotive Industry, 2023-2033, $ mn and million units 91
Table 40. Europe Cutting Tools Market by Industry Vertical: General Manufacturing, 2023-2033, $ mn and million units 92
Table 41. Europe Cutting Tools Market by Industry Vertical: Aerospace & Defense, 2023-2033, $ mn and million units 93
Table 42. Europe Cutting Tools Market by Industry Vertical: Oil & Gas, 2023-2033, $ mn and million units 94
Table 43. Europe Cutting Tools Market by Industry Vertical: Electronics Industry, 2023-2033, $ mn and million units 95
Table 44. Europe Cutting Tools Market by Industry Vertical: Construction, 2023-2033, $ mn and million units 96
Table 45. Europe Cutting Tools Market by Industry Vertical: Energy & Power, 2023-2033, $ mn and million units 97
Table 46. Europe Cutting Tools Market by Industry Vertical: Medical Industry, 2023-2033, $ mn and million units 98
Table 47. Europe Cutting Tools Market by Industry Vertical: Other Industry Verticals, 2023-2033, $ mn and million units 99
Table 48. Europe Cutting Tools Market by Distribution Channel, 2023-2033, $ mn 100
Table 49. Europe Cutting Tools Market by Distribution Channel, 2023-2033, million units 102
Table 50. Europe Cutting Tools Market by Distribution Channel: Offline Sales, 2023-2033, $ mn and million units 104
Table 51. Europe Cutting Tools Market by Distribution Channel: Online Sales, 2023-2033, $ mn and million units 105
Table 52. Europe Cutting Tools Market by Country, 2023-2033, $ mn 108
Table 53. Germany Cutting Tools Market by Tool Type, 2023-2033, $ mn 110
Table 54. Germany Cutting Tools Market by Material, 2023-2033, $ mn 110
Table 55. Germany Cutting Tools Market by Industry Vertical, 2023-2033, $ mn 110
Table 56. U.K. Cutting Tools Market by Tool Type, 2023-2033, $ mn 112
Table 57. U.K. Cutting Tools Market by Material, 2023-2033, $ mn 112
Table 58. U.K. Cutting Tools Market by Industry Vertical, 2023-2033, $ mn 112
Table 59. France Cutting Tools Market by Tool Type, 2023-2033, $ mn 114
Table 60. France Cutting Tools Market by Material, 2023-2033, $ mn 114
Table 61. France Cutting Tools Market by Industry Vertical, 2023-2033, $ mn 114
Table 62. Spain Cutting Tools Market by Tool Type, 2023-2033, $ mn 116
Table 63. Spain Cutting Tools Market by Material, 2023-2033, $ mn 116
Table 64. Spain Cutting Tools Market by Industry Vertical, 2023-2033, $ mn 116
Table 65. Italy Cutting Tools Market by Tool Type, 2023-2033, $ mn 118
Table 66. Italy Cutting Tools Market by Material, 2023-2033, $ mn 118
Table 67. Italy Cutting Tools Market by Industry Vertical, 2023-2033, $ mn 118
Table 68. Netherlands Cutting Tools Market by Tool Type, 2023-2033, $ mn 120
Table 69. Netherlands Cutting Tools Market by Material, 2023-2033, $ mn 120
Table 70. Netherlands Cutting Tools Market by Industry Vertical, 2023-2033, $ mn 120
Table 71. Cutting Tools Market in Rest of Europe by Country, 2023-2033, $ mn 122
Table 72. Ceratizit Group: Company Snapshot 127
Table 73. Ceratizit Group: Business Segmentation 128
Table 74. Ceratizit Group: Product Portfolio 128



Figure 1. Research Method Flow Chart 13
Figure 2. Bottom-up Approach and Top-down Approach for Market Estimation 16
Figure 3. Europe Market Forecast in Optimistic, Conservative and Balanced Perspectives, 2023-2033 18
Figure 4. Europe Cutting Tools Market by Value, 2023-2033, $ mn 21
Figure 5. Europe Cutting Tools Market by Volume, 2023-2033, million units 22
Figure 6. Impact of COVID-19 on Business 27
Figure 7. Primary Drivers and Impact Factors of Europe Cutting Tools Market 33
Figure 8. Primary Restraints and Impact Factors of Europe Cutting Tools Market 36
Figure 9. Investment Opportunity Analysis 40
Figure 10. Porter’s Fiver Forces Analysis of Europe Cutting Tools Market 43
Figure 11. Breakdown of Europe Cutting Tools Market by Tool Type, 2023-2033, % of Revenue 48
Figure 12. Europe Addressable Market Cap in 2024-2033 by Tool Type, Value ($ mn) and Share (%) 48
Figure 13. Breakdown of Europe Cutting Tools Market by Tool Type, 2023-2033, % of Sales Volume 50
Figure 14. Europe Addressable Market Cap in 2024-2033 by Tool Type, Volume (million units) and Share (%) 50
Figure 15. Breakdown of Europe Cutting Tools Market by Product, 2023-2033, % of Sales Revenue 54
Figure 16. Europe Addressable Market Cap in 2024-2033 by Product, Value ($ mn) and Share (%) 54
Figure 17. Breakdown of Europe Cutting Tools Market by Product, 2023-2033, % of Sales Volume 56
Figure 18. Europe Addressable Market Cap in 2024-2033 by Product, Volume (million units) and Share (%) 56
Figure 19. Breakdown of Europe Cutting Tools Market by Material, 2023-2033, % of Sales Revenue 63
Figure 20. Europe Addressable Market Cap in 2024-2033 by Material, Value ($ mn) and Share (%) 63
Figure 21. Breakdown of Europe Cutting Tools Market by Material, 2023-2033, % of Sales Volume 65
Figure 22. Europe Addressable Market Cap in 2024-2033 by Material, Volume (million units) and Share (%) 65
Figure 23. Breakdown of Europe Cutting Tools Market by Chip Breaker, 2023-2033, % of Revenue 72
Figure 24. Europe Addressable Market Cap in 2024-2033 by Chip Breaker, Value ($ mn) and Share (%) 72
Figure 25. Breakdown of Europe Cutting Tools Market by Chip Breaker, 2023-2033, % of Sales Volume 74
Figure 26. Europe Addressable Market Cap in 2024-2033 by Chip Breaker, Volume (million units) and Share (%) 74
Figure 27. Breakdown of Europe Cutting Tools Market by Application, 2023-2033, % of Revenue 80
Figure 28. Europe Addressable Market Cap in 2024-2033 by Application, Value ($ mn) and Share (%) 80
Figure 29. Breakdown of Europe Cutting Tools Market by Application, 2023-2033, % of Sales Volume 82
Figure 30. Europe Addressable Market Cap in 2024-2033 by Application, Volume (million units) and Share (%) 82
Figure 31. Breakdown of Europe Cutting Tools Market by Industry Vertical, 2023-2033, % of Revenue 88
Figure 32. Europe Addressable Market Cap in 2024-2033 by Industry Vertical, Value ($ mn) and Share (%) 88
Figure 33. Breakdown of Europe Cutting Tools Market by Industry Vertical, 2023-2033, % of Sales Volume 90
Figure 34. Europe Addressable Market Cap in 2024-2033 by Industry Vertical, Volume (million units) and Share (%) 90
Figure 35. Breakdown of Europe Cutting Tools Market by Distribution Channel, 2023-2033, % of Revenue 100
Figure 36. Europe Addressable Market Cap in 2024-2033 by Distribution Channel, Value ($ mn) and Share (%) 101
Figure 37. Breakdown of Europe Cutting Tools Market by Distribution Channel, 2023-2033, % of Sales Volume 102
Figure 38. Europe Addressable Market Cap in 2024-2033 by Distribution Channel, Volume (million units) and Share (%) 103
Figure 39. Breakdown of European Cutting Tools Market by Country, 2023 and 2033, % of Revenue 107
Figure 40. Contribution to Europe 2024-2033 Cumulative Market by Country, Value ($ mn) and Share (%) 108
Figure 41. Cutting Tools Market in Germany, 2023-2033, $ mn 109
Figure 42. Cutting Tools Market in U.K., 2023-2033, $ mn 111
Figure 43. Cutting Tools Market in France, 2023-2033, $ mn 113
Figure 44. Cutting Tools Market in Spain, 2023-2033, $ mn 115
Figure 45. Cutting Tools Market in Italy, 2023-2033, $ mn 117
Figure 46. Cutting Tools Market in Netherlands, 2023-2033, $ mn 119
Figure 47. Cutting Tools Market in Rest of Europe, 2023-2033, $ mn 121
Figure 48. Growth Stage of Europe Cutting Tools Industry over the Forecast Period 123
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Europe Cutting Tools Market Outlook, 2029

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