The Business Research Company’s latest report Cutting Tool And Machine Tool Accessory Global Market Report 2020 covers Cutting Tool And Machine Tool Accessory market drivers, Cutting Tool And Machine Tool Accessory market trends, Cutting Tool And Machine Tool Accessory market segments, Cutting Tool And Machine Tool Accessory market growth rate, Cutting Tool And Machine Tool Accessory market major players, and Cutting Tool And Machine Tool Accessory market size. The report provides in-depth analysis of the impact of COVID-19 on the Cutting Tool And Machine Tool Accessory industry, along with revised market numbers due to the effects of the coronavirus.
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Cutting Tool And Machine Tool Accessory Global Market Report 2020 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 of COVID-19 gives valuable insights on supply chain disruptions, logistical challenges, and other economic implications of the virus on the market. The chapter also covers markets which have been positively affected by the pandemic.
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The global cutting tool and machine tool accessory market is expected to decline from $76.2 billion in 2019 to $72.5 billion in 2020 at a compound annual growth rate (CAGR) of -4.8%. The decline is mainly due to economic slowdown across countries owing to the COVID-19 outbreak and the measures to contain it. The market is then expected to recover and grow at a CAGR of 9% from 2021 and reach $91 billion in 2023.
The report covers the Cutting Tool And Machine Tool Accessory market’s 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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