Report Description Table of Contents The high-speed steel (HSS) tools market was worth USD 5.9 billion in 2023 and will be worth USD 9.4 billion by 2030, growing at a CAGR of 6% during the forecast period. The key drivers for high-speed steel (HSS) tools concern the growing need for precision tools in applications like automotive, aerospace and industrial manufacturing. By 2023, there is an increasing demand for the HSS tools attributed to the high cutting performance and durability in its application areas with automotive industries contributing to most of the demand as it is growing at about 4-5% annually. For instance, engine components manufacturing requires high accuracy and production of tools that can withstand tough heat conditions; this is where HSS tools come naturally. Other advancements include the emergence of new coatings for HSS like Titanium Nitride (TiN) and Titanium Aluminum Nitride (TiAlN), which further aid in increasing heat tolerance and tool durability, making them even more suitable for high performance purposes. Electric vehicle and sustainable manufacturing are two items that are trending in the automobile industry, and this means that high-quality tooling solution is important hence boosting the market. The high-speed steel (HSS) tools market poses lucrative opportunities as it has been observed that the need for efficient and cheap cutting tools has been rising in aerospace, automotive, and metal industries. As the global manufacturing industry is expected to expand at the approximate rate of 4% per year through 2030, this signifies an increasing demand for specialized tools that are durable and accurate. One promising area is the increasing use of HSS tools in emerging markets including Asia-Pacific that is experienced rapid industrialization and investment in infrastructure projects. For instance, HSS tools are applied intensively in metal cutting operations in car parts and construction of heavy equipment. Newly introduced innovations include the use of HSS combined with other materials that give high wear resistance together with modern coatings such as diamond like carbon (DLC) to enhance the tool’s lifetime and cutting rate. This innovation makes this a good opportunity for manufacturers willing to satisfy the growing need for high performance and inexpensive tooling in many industries. Market Segmentation By Product Type Milling Tools Drilling Tools Tapping Tools Reaming Tools Broaching Tools By Coating Type Titanium Nitride (TiN) Titanium Carbon Nitride (TiCN) Titanium Aluminum Nitride (TiAlN) Diamond Coating Others (such as Zirconium Nitride, DLC coatings) By Application Automotive Aerospace Industrial Machinery Construction Metalworking Oil & Gas By End-User Automotive Manufacturing Aerospace and Defense Industrial Manufacturing Energy Sector Others (such as Consumer Goods) By Region North America US Mexico Canada Rest of North America Europe Switzerland Russia France Germany U.K Finland Turkey Netherlands Belgium Spain Italy Rest of Europe Asia Pacific India China South Korea Japan Singapore Thailand Indonesia Malaysia Philippines Australia Rest of Asia-Pacific LAMEA Brazil Argentina Uruguay Saudi Arabia Rest of LAMEA Asia-Pacific is the leading region in the high-speed steel (HSS) tools market taking more than 40% of the global market share in 2023. This is mainly attributed to the growing industrialization and increasing manufacturing industries across the globe most especially in china, India and Japan. For instance, the automotive industry and industrial machinery industries export large volumes of HSS tools from China primarily in precision cutting and drilling applications in mass production. Recent trends are shown by the growth of superior manufacturing technologies in Asia-Pacific area for instance CNC machining which uses HSS instruments for high-speed high accuracy metal slicing. Moreover, an increasingly growing emphasis in infrastructure development activity and the emergence of aerospace industry also push the HSS tools demand higher, ensuring the leadership of Asia-Pacific in the global market. Key Players Sandvik AB Kennametal Inc. OSG Corporation Nachi-Fujikoshi Corp. Mitsubishi Materials Corporation Tiangong International Sumitomo Electric Industries, Ltd. Guhring KG Dormer Pramet YG-1 Co., Ltd. Frequently Asked Question About This Report . Table of Contents 1. HIGH-SPEED STEEL (HSS) TOOLS MARKET – PRODUCTION VOLUME BY REGION, (2024 – 2030) 1.1. North America 1.2. Europe 1.3. Asia Pacific 1.4. Latin America 1.5. Middle East & Africa 2. HIGH-SPEED STEEL (HSS) TOOLS MARKET – REVENUE ($MILLION), BY REGION, (2024 – 2030) 2.1. North America 2.2. Europe 2.3. Asia Pacific 2.4. Latin America 2.5. Middle East & Africa 3. MARKET SHARE ANALYSIS – HIGH-SPEED STEEL (HSS) TOOLS MARKET 3.1. Top 20 Players with Product Mix, Revenue, and Sales Volume 3.2. Market Share, 2023 3.3. Market By Product Type of HIGH-SPEED STEEL (HSS) TOOLS and End Use Outlook Analysis 4. HISTORIC TRENDS IN HIGH-SPEED STEEL (HSS) TOOLS MARKET 5. EMERGING MARKET TRENDS 6. NORTH AMERICA HIGH-SPEED STEEL (HSS) TOOLS MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 6.1. North America HIGH-SPEED STEEL (HSS) TOOLS Historical Market ($MILLION), (2017 – 2023) 6.2. North America HIGH-SPEED STEEL (HSS) TOOLS Market ($MILLION) and Forecasts (2024 – 2030) 6.3. North America HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Product Type 6.3.1. Milling Tools 6.3.2. Drilling Tools 6.3.3. Tapping Tools 6.3.4. Reaming Tools 6.3.5. Broaching Tools 6.4. North America HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Coating Type 6.4.1. Titanium Nitride (TiN) 6.4.2. Titanium Carbon Nitride (TiCN) 6.4.3. Titanium Aluminum Nitride (TiAlN) 6.4.4. Diamond Coating 6.4.5. Others (such as Zirconium Nitride, DLC coatings) 6.5. North America HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By End-use 6.5.1. Automotive Manufacturing 6.5.2. Aerospace and Defense 6.5.3. Industrial Manufacturing 6.5.4. Energy Sector 6.5.5. Others (such as Consumer Goods) 6.6. North America HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 6.6.1. Automotive 6.6.2. Aerospace 6.6.3. Industrial Machinery 6.6.4. Construction 6.6.5. Metalworking 6.6.6. Oil & Gas 6.7. North America HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 6.7.1. USA 6.7.2. Canada 6.7.3. Rest of North America 7. USA HIGH-SPEED STEEL (HSS) TOOLS MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8. EUROPE HIGH-SPEED STEEL (HSS) TOOLS MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 8.1. Europe HIGH-SPEED STEEL (HSS) TOOLS Historical Market ($MILLION), (2017 – 2023) 8.2. Europe HIGH-SPEED STEEL (HSS) TOOLS Market ($MILLION) and Forecasts (2024 – 2030) 8.3. Europe HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Product Type 8.4. Europe HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Coating Type 8.5. Europe HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), ByEnd-use 8.6. Europe HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 8.7. Europe HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 8.7.1. Germany 8.7.2. France 8.7.3. UK 8.7.4. Italy 8.7.5. Spain 8.7.6. Rest of Europe 9. APAC HIGH-SPEED STEEL (HSS) TOOLS MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 9.1. APAC HIGH-SPEED STEEL (HSS) TOOLS Historical Market ($MILLION), (2017 – 2023) 9.2. APAC HIGH-SPEED STEEL (HSS) TOOLS Market ($MILLION) and Forecasts (2024 – 2030) 9.3. APAC HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Product Type 9.4. APAC HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Coating Type 9.5. APAC HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), ByEnd-use 9.6. APAC HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 9.7. APAC HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 9.7.1. China 9.7.2. Japan 9.7.3. South Korea 9.7.4. India 9.7.5. Australia 9.7.6. Rest of APAC 10. LATIN AMERICA HIGH-SPEED STEEL (HSS) TOOLS MARKET ANALYSIS BY SEGMENT (COUNTRY-LEVEL ANALYSIS) 10.1. Latin America HIGH-SPEED STEEL (HSS) TOOLS Historical Market ($MILLION), (2017 – 2023) 10.2. Latin America HIGH-SPEED STEEL (HSS) TOOLS Market ($MILLION) and Forecasts (2024 – 2030) 10.3. Latin America HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Product Type 10.4. Latin America HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Coating Type 10.5. Latin America HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), ByEnd-use 10.6. Latin America HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Application 10.7. Latin America HIGH-SPEED STEEL (HSS) TOOLS Market Type ($MILLION), and Forecasts (2024 – 2030), By Geography 10.7.1. Brazil 10.7.2. Argentina 10.7.3. Rest of Latin America 11. COMPANY PROFILES: 11.1. Sandvik AB 11.1.1. Company Overview 11.1.2. Company Snapshot 11.1.3. Operating business segments 11.1.4. Product offered and Revenue 11.1.5. Production & Sales 11.2. Kennametal Inc. 11.3. OSG Corporation 11.4. Nachi-Fujikoshi Corp. 11.5. Mitsubishi Materials Corporation 11.6. Tiangong International 11.7. Sumitomo Electric Industries, Ltd. 11.8. Guhring KG 11.9. OTHER MARKET PLAYERS