Global Micro Tool Market Infographics Description:
- The global micro tool market is estimated at US$ 861.3 Mn in 2020.
- Worldwide micro tool market is projected to reach US$ 1,233.0 Mn in 2030 at a CAGR of 3.7% from 2021 to 2030.
- Among all the product type segments, the steel grade carbide is expected to register the highest CAGR of over 4.1%, followed by other product types.
- Amongst application segments, the milling segment in the global micro tool market is estimated to account for a majority revenue share of 38.0% in 2020 end. It is expected to account for the largest market revenue share as compared to that of other application segments.
- APAC market is expected to dominate the target market owing to the rapid іnduѕtrіаlіzаtіоn аnd the robust grоwth оf thе mаnufасturіng ѕесtоr іn еmеrgіng есоnоmіеѕ such as Сhіnа аnd Іndіа. It is expected to account for the largest market revenue share as compared to that of markets in other regions.
- Companies profiled in the report are Mitsubishi Corporation, Kyocera Corp., Sandvik AB, ARCH Global Precision LLC, NS Tool Co., Ltd., Ingersoll Cutting Company, Garr Tool Company, Hobe GmbH, Rock River Tool Inc., Tunco Manufacturing Inc., and others.