Cutting Tool And Machine Tool Accessory Global Market Report 2021 by The Business Research Company is the most comprehensive report available on this market and will help gain a truly global perspective as it covers 60 geographies. The chapter on the impact – both negative and positive – of COVID-19 on the cutting tool and machine tool accessory industry gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. This includes revised market numbers according to the effects of the coronavirus and the expected cutting tool and machine tool accessory market growth numbers 2021-2030.
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The Cutting Tool And Machine Tool Accessory Global Market Report 2020-30 by The Business Research Company provides an in-depth analysis of the global cutting tool and machine tool accessory market and covers both the historic period, 2015 to 2020, and the forecast period, 2020 to 2030. The report evaluates the market and major economies across the regions Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The Cutting Tool And Machine Tool Accessory Global Market Report 2021 covers cutting tool and machine tool accessory market drivers, cutting tool and machine tool accessory market trends, cutting tool and machine tool accessory market growth rate, cutting tool and machine tool accessory market major players, player-adopted strategies in the market, and cutting tool and machine tool accessory market size.
The global cutting tool and machine tool accessory market is expected to grow from $69.47 billion in 2020 to $74.95 billion in 2021 at a compound annual growth rate (CAGR) of 7.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $101.09 billion in 2025 at a CAGR of 8%.
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The report covers the cutting tool and machine tool accessory market segments-
1) By Type: Metalworking Knives And Bits, Measuring Attachments, Metalworking Drill Bits, Machine Tool Taps And Dies
2) By Application: Automotive, Manufacturing, Others
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