Global External Turning Tools
Market Report
2025
The global External Turning Tools market size will be USD 6142.5 million in 2024. Increasing demand for precision machining in industries like automotive and aerospace is expected to boost sales to USD 9236.04 million by 2031, with a Compound Annual Growth Rate (CAGR) of 6.00% from 2024 to 2031.
The base year for the calculation is 2024. The historical will be 2021 to 2024. The year 2025 will be estimated one while the forecasted data will be from year 2025 to 2033. When we deliver the report that time we updated report data till the purchase date.
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According to Cognitive Market Research, the global External Turning Tools market size will be USD 6142.5 million in 2024. It will expand at a compound annual growth rate (CAGR) of 6.00% from 2024 to 2031.
2024 | 2025 | 2032 | 2033 | CAGR | |
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Global External Turning Tools Market Sales Revenue | $ 6142.5 Million | 121212 | 121212 | 121212 | 6% |
North America External Turning Tools Market Sales Revenue | $ 2457 Million | 121212 | 121212 | 121212 | 4.2% |
Mexico External Turning Tools Market Sales Revenue | $ 223.59 Million | 121212 | 121212 | 121212 | 4.7% |
Canada External Turning Tools Market Sales Revenue | $ 294.84 Million | 121212 | 121212 | 121212 | 5% |
United States External Turning Tools Market Sales Revenue | $ 1938.57 Million | 121212 | 121212 | 121212 | 4% |
Europe External Turning Tools Market Sales Revenue | $ 1842.75 Million | 121212 | 121212 | 121212 | 4.5% |
Germany External Turning Tools Market Sales Revenue | $ 364.86 Million | 121212 | 121212 | 121212 | 4.7% |
France External Turning Tools Market Sales Revenue | $ 169.53 Million | 121212 | 121212 | 121212 | 3.7% |
Spain External Turning Tools Market Sales Revenue | $ 151.11 Million | 121212 | 121212 | 121212 | 3.6% |
United Kingdom External Turning Tools Market Sales Revenue | $ 309.58 Million | 121212 | 121212 | 121212 | 5.3% |
Russia External Turning Tools Market Sales Revenue | $ 285.63 Million | 121212 | 121212 | 121212 | 3.5% |
Italy External Turning Tools Market Sales Revenue | $ 158.48 Million | 121212 | 121212 | 121212 | 3.9% |
Rest of Europe External Turning Tools Market Sales Revenue | $ 285.63 Million | 121212 | 121212 | 121212 | 3.2% |
Asia Pacific External Turning Tools Market Sales Revenue | $ 1412.78 Million | 121212 | 121212 | 121212 | 8% |
India External Turning Tools Market Sales Revenue | $ 169.53 Million | 121212 | 121212 | 121212 | 9.8% |
Korea External Turning Tools Market Sales Revenue | $ 141.28 Million | 121212 | 121212 | 121212 | 7.1% |
Japan External Turning Tools Market Sales Revenue | $ 194.96 Million | 121212 | 121212 | 121212 | 6.5% |
China External Turning Tools Market Sales Revenue | $ 635.75 Million | 121212 | 121212 | 121212 | 7.5% |
Australia External Turning Tools Market Sales Revenue | $ 73.46 Million | 121212 | 121212 | 121212 | 7.7% |
Rest of APAC External Turning Tools Market Sales Revenue | $ 100.31 Million | 121212 | 121212 | 121212 | 7.8% |
South America External Turning Tools Market Sales Revenue | $ 307.13 Million | 121212 | 121212 | 121212 | 5.4% |
Argentina External Turning Tools Market Sales Revenue | $ 51.6 Million | 121212 | 121212 | 121212 | 6.3% |
Brazil External Turning Tools Market Sales Revenue | $ 131.45 Million | 121212 | 121212 | 121212 | 6% |
Chile External Turning Tools Market Sales Revenue | $ 22.11 Million | 121212 | 121212 | 121212 | 5.7% |
Peru External Turning Tools Market Sales Revenue | $ 25.18 Million | 121212 | 121212 | 121212 | 5.6% |
Colombia External Turning Tools Market Sales Revenue | $ 27.33 Million | 121212 | 121212 | 121212 | 5.2% |
Rest of South America External Turning Tools Market Sales Revenue | $ 49.45 Million | 121212 | 121212 | 121212 | 4.5% |
Middle East External Turning Tools Market Sales Revenue | $ 122.85 Million | 121212 | 121212 | 121212 | 5.7% |
Turkey External Turning Tools Market Sales Revenue | $ 10.57 Million | 121212 | 121212 | 121212 | 5.2% |
Egypt External Turning Tools Market Sales Revenue | $ 12.9 Million | 121212 | 121212 | 121212 | 6% |
Rest of MEA External Turning Tools Market Sales Revenue | $ 14.5 Million | 121212 | 121212 | 121212 | 4.7% |
Base Year | 2024 |
Historical Data Time Period | 2021-2024 |
Forecast Period | 2025-2033 |
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List of Competitors |
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Report scope is customizable as we have a huge database of External Turning Tools industry. We can deliver an exclusive report Edition/Consultation as per your data requirements. Request for your Free Sample Pages.
External Turning Tools Market is Segmented as below. Particular segment of your interest can be provided without any additional cost. Download the Sample Pages!
The external turning tools market involves cutting tools designed for turning operations in machining, where a workpiece is rotated against a stationary tool to remove material and shape it. These tools are primarily used in industries like automotive, aerospace, metalworking, and manufacturing to produce precision parts such as shafts, gears, and components with tight tolerances. External turning tools come in various forms, including inserts, blades, and bars, made from materials like high-speed steel (HSS), carbide, ceramics, and cermets, each offering different advantages in terms of hardness, wear resistance, and cutting efficiency. The market is driven by the increasing demand for high-precision and efficient machining tools, especially in sectors like automotive and aerospace, which require complex, high-performance parts. Technological advancements, such as the development of coated and customizable tools, are fueling the market's growth. Additionally, the rise of automation and CNC (computer numerical control) machining is further expanding the demand for external turning tools, driving innovation in design and materials.
The increasing demand for precision machining in the automotive and aerospace industries is a key driving factor for the external turning tools market. Both sectors require high-quality, durable components, often with complex geometries that demand advanced turning processes. External turning tools are essential for producing precision parts such as engine components, transmission systems, and turbine blades. The shift towards lightweight materials, such as aluminium and composites in these industries, also necessitates the use of specialized external turning tools designed to handle these harder and more abrasive materials. As global automotive production continues to grow and the aerospace sector invests in newer, more efficient aircraft designs, the need for external turning tools to support these industries will remain strong, boosting demand for these products.
Advancements in manufacturing technology, such as automation, CNC (Computer Numerical Control) machines, and robotics, are driving the growth of the external turning tools market. These innovations have enabled faster, more precise, and cost-efficient production processes. CNC machines, in particular, have become widespread across industries, increasing the demand for high-performance external turning tools capable of maintaining accuracy during high-volume operations. The ability to produce complex parts with tight tolerances, combined with improvements in tool material technology (such as carbide and ceramic tools), has expanded the application of external turning tools in sectors beyond traditional manufacturing, such as medical device production and electronics. Additionally, automation enhances the productivity of turning operations, further stimulating the demand for reliable and long-lasting external turning tools.
The high cost of advanced materials used in external turning tools, such as carbide, ceramic, and cubic boron nitride (CBN), is a significant restraining factor. These materials offer superior durability, cutting efficiency, and resistance to wear and heat, which are critical for high-precision machining applications. However, they are expensive to produce and process, which increases the overall cost of the tools. Small and medium-sized enterprises (SMEs) with limited budgets may find it challenging to invest in such high-quality tools, limiting their accessibility and adoption. Moreover, the frequent need for replacement or sharpening of these tools due to wear further raises the cost for manufacturers.
The COVID-19 pandemic significantly impacted the external turning tools market, causing disruptions in production and supply chains. Lockdowns and restrictions led to temporary shutdowns of manufacturing facilities, delaying the production and delivery of cutting tools. Additionally, decreased demand from industries like automotive, aerospace, and manufacturing, which were hit hard by the pandemic, resulted in a slowdown in tool purchases. The market also faced challenges related to labour shortages and disruptions in raw material supply, increasing lead times and costs. However, the market showed signs of recovery as industries resumed operations, with a surge in demand for high-precision tools driven by the need for manufacturing efficiency and automation.
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The external turning tools market is highly competitive, with key players focusing on innovation, offering advanced cutting tools with improved durability, wear resistance, and precision. Competitive strategies include product diversification, mergers and acquisitions, and expanding their presence in emerging markets. Additionally, the adoption of automation and digital solutions in manufacturing is shaping market dynamics, with companies striving to develop tools compatible with modern CNC machinery to meet the increasing demand for high-precision and efficient machining.
Top Companies Market Share in External Turning Tools Industry: (In no particular order of Rank)
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According to Cognitive Market Research, North America currently dominates the External Turning Tools market, and the region is expected to have significant growth during the projected period. This is due to its strong manufacturing base, particularly in the automotive, aerospace, and machinery sectors.
Asia-Pacific is expected to make significant gains during the projected period, with the greatest compound annual growth rate (CAGR). Countries like China, India, and Japan are increasing their demand for high-precision tools to support growing production needs, infrastructure development, and technological advancements in machining.
The current report Scope analyzes External Turning Tools Market on 5 major region Split (In case you wish to acquire a specific region edition (more granular data) or any country Edition data then please write us on info@cognitivemarketresearch.com
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According to Cognitive Market Research, the global External Turning Tools market size was estimated at USD 6142.5 Million, out of which North America held the major market share of more than 40% of the global revenue with a market size of USD 2457.00 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.2% from 2024 to 2031.
According to Cognitive Market Research, the global External Turning Tools market size was estimated at USD 6142.5 Million, out of which Europe held the market share of more than 30% of the global revenue with a market size of USD 1842.75 million in 2024 and will grow at a compound annual growth rate (CAGR) of 4.5% from 2024 to 2031.
According to Cognitive Market Research, the global External Turning Tools market size was estimated at USD 6142.5 Million, out of which Asia Pacific held the market share of around 23% of the global revenue with a market size of USD 1412.78 million in 2024 and will grow at a compound annual growth rate (CAGR) of 8.0% from 2024 to 2031.
According to Cognitive Market Research, the global External Turning Tools market size was estimated at USD 6142.5 Million, out of which Latin America held the market share of around 5% of the global revenue with a market size of USD 307.13 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.4% from 2024 to 2031.
According to Cognitive Market Research, the global External Turning Tools market size was estimated at USD 6142.5 Million, out of which the Middle East and Africa held the major market share of around 2% of the global revenue with a market size of USD 122.85 million in 2024 and will grow at a compound annual growth rate (CAGR) of 5.7% from 2024 to 2031..
Global External Turning Tools Market Report 2025 Edition talks about crucial market insights with the help of segments and sub-segments analysis. In this section, we reveal an in-depth analysis of the key factors influencing External Turning Tools Industry growth. External Turning Tools market has been segmented with the help of its Type Outlook:, Application Outlook: Distribution Channel Outlook:, and others. External Turning Tools market analysis helps to understand key industry segments, and their global, regional, and country-level insights. Furthermore, this analysis also provides information pertaining to segments that are going to be most lucrative in the near future and their expected growth rate and future market opportunities. The report also provides detailed insights into factors responsible for the positive or negative growth of each industry segment.
How are Segments Performing in the Global External Turning Tools Market?
According to Cognitive Market Research, grooving external turning tools are likely to dominate the External Turning Tools Market over the forecast period due to their essential role in creating grooves, slots, and intricate profiles in machining operations. These tools offer high precision and are widely used in industries like automotive and aerospace for producing complex components. Their versatility and efficiency drive strong demand in precision machining.
The end-milling tools are the fastest-growing segment in the External Turning Tools Market due to their versatility in machining complex geometries, improved precision, and higher material removal rates. Their ability to handle diverse materials, including hard metals, along with advancements in coating and tool design, boosts their demand in various industries.
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According to Cognitive Market Research, the automotive segment holds the largest share of the market due to its high demand for precision components such as engine parts, shafts, and gears. The need for efficient, high-precision machining in automotive manufacturing drives the continuous use of external turning tools, particularly in mass production and advanced manufacturing processes.
In the External Turning Tools Market, the construction sector has been expanding at a rapid pace due to increased demand for heavy machinery, infrastructure projects, and precision-engineered components. As construction projects become more complex, the need for high-performance turning tools to manufacture durable, precise parts for equipment and structures accelerates market growth.
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According to Cognitive Market Research, the offline segment holds the largest market share due to traditional manufacturing practices, where tools are purchased through physical stores or direct sales channels. This method allows for hands-on selection, immediate product availability, and personalized customer service, which are preferred by many manufacturers, especially in regions with limited internet access.
In the External Turning Tools market, the rapidly growing sector is the online category due to the convenience of online purchasing, wider product selection, and competitive pricing. E-commerce platforms allow manufacturers and consumers to easily access a range of tools, compare prices, and enjoy quick delivery, driving market growth.
Senior Research Analyst at Cognitive Market Research
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights.
Catering to tailored needs of clients in Consulting, Business Intelligence, Market Research, Forecasting, Matrix-Modelling, Data Analytics, Competitive Intelligence, Primary research and Consumer Insights. Experience in analyzing current trends, market demand, market assessment, growth indicators, competitors' strategy, etc. to help top management & investors to make strategic and tactical decisions in the form of market reports and presentations. Successfully delivered more than 500+ client & consulting assignments across verticals. Ability to work independently as well as with a team with confidence and ease.
I am committed to continuous learning and staying at the forefront of emerging trends in research and analytics. Regularly engaging in professional development opportunities, including workshops and conferences, keeps my skill set sharp and up-to-date. I spearheaded research initiatives focused on market trends and competitive landscapes. I have a proven track record of conducting thorough analyses, distilling key insights, and presenting findings in a way that resonates with diverse stakeholders. Through collaboration with cross-functional teams, I played a pivotal role in shaping business strategies rooted in robust research.
Conclusion
Please note, we have not disclose, all the sources consulted/referred during a market study due to confidentiality and paid service concern. However, rest assured that upon purchasing the service or paid report version, we will release the comprehensive list of sources along with the complete report and we also provide the data support where you can intract with the team of analysts who worked on the report.
Disclaimer:
Type Outlook: | Parting Off, Grooving, Threading, End Milling, Drilling |
Application Outlook: | Automotive, Construction |
Distribution Channel Outlook: | Online, Offline |
List of Competitors | Sandvik, Mitsubishi Materials, WhizCut, Ingersoll Cutting Tool, KOMET, KYOCERA, Kennametal, Winstar Cutting, Widia, IZAR CUTTING TOOLS, Arno, Sumitomo Electric, Swiss Tool Systems, ISCAR, Seco Tools, Shan Gin Cutting Tools, Palbit, Ceratizit |
This chapter will help you gain GLOBAL Market Analysis of External Turning Tools. Further deep in this chapter, you will be able to review Global External Turning Tools Market Split by various segments and Geographical Split.
Chapter 1 Global Market Analysis
Global Market has been segmented on the basis 5 major regions such as North America, Europe, Asia-Pacific, Middle East & Africa, and Latin America.
You can purchase only the Executive Summary of Global Market (2019 vs 2024 vs 2031)
Global Market Dynamics, Trends, Drivers, Restraints, Opportunities, Only Pointers will be deliverable
This chapter will help you gain North America Market Analysis of External Turning Tools. Further deep in this chapter, you will be able to review North America External Turning Tools Market Split by various segments and Country Split.
Chapter 2 North America Market Analysis
This chapter will help you gain Europe Market Analysis of External Turning Tools. Further deep in this chapter, you will be able to review Europe External Turning Tools Market Split by various segments and Country Split.
Chapter 3 Europe Market Analysis
This chapter will help you gain Asia Pacific Market Analysis of External Turning Tools. Further deep in this chapter, you will be able to review Asia Pacific External Turning Tools Market Split by various segments and Country Split.
Chapter 4 Asia Pacific Market Analysis
This chapter will help you gain South America Market Analysis of External Turning Tools. Further deep in this chapter, you will be able to review South America External Turning Tools Market Split by various segments and Country Split.
Chapter 5 South America Market Analysis
This chapter will help you gain Middle East Market Analysis of External Turning Tools. Further deep in this chapter, you will be able to review Middle East External Turning Tools Market Split by various segments and Country Split.
Chapter 6 Middle East Market Analysis
This chapter will help you gain Middle East Market Analysis of External Turning Tools. Further deep in this chapter, you will be able to review Middle East External Turning Tools Market Split by various segments and Country Split.
Chapter 7 Africa Market Analysis
This chapter provides an in-depth analysis of the market share among key competitors of External Turning Tools. The analysis highlights each competitor's position in the market, growth trends, and financial performance, offering insights into competitive dynamics, and emerging players.
Chapter 8 Competitor Analysis (Subject to Data Availability (Private Players))
(Subject to Data Availability (Private Players))
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
Data Subject to Availability as we consider Top competitors and their market share will be delivered.
This chapter would comprehensively cover market drivers, trends, restraints, opportunities, and various in-depth analyses like industrial chain, PESTEL, Porter’s Five Forces, and ESG, among others. It would also include product life cycle, technological advancements, and patent insights.
Chapter 9 Qualitative Analysis (Subject to Data Availability)
Segmentation Type Outlook: Analysis 2019 -2031, will provide market size split by Type Outlook:. This Information is provided at Global Level, Regional Level and Top Countries Level The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 10 Market Split by Type Outlook: Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 11 Market Split by Application Outlook: Analysis 2021 - 2033
The report with the segmentation perspective mentioned under this chapters will be delivered to you On Demand. So please let us know if you would like to receive this additional data as well. No additional cost will be applicable for the same.
Chapter 12 Market Split by Distribution Channel Outlook: Analysis 2021 - 2033
This chapter helps you understand the Key Takeaways and Analyst Point of View of the global External Turning Tools market
Chapter 13 Research Findings
Here the analyst will summarize the content of entire report and will share his view point on the current industry scenario and how the market is expected to perform in the near future. The points shared by the analyst are based on his/her detailed in-depth understanding of the market during the course of this report study. You will be provided exclusive rights to interact with the concerned analyst for unlimited time pre purchase as well as post purchase of the report.
Chapter 14 Research Methodology and Sources
Why Parting Off have a significant impact on External Turning Tools market? |
What are the key factors affecting the Parting Off and Grooving of External Turning Tools Market? |
What is the CAGR/Growth Rate of Automotive during the forecast period? |
By type, which segment accounted for largest share of the global External Turning Tools Market? |
Which region is expected to dominate the global External Turning Tools Market within the forecast period? |
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Company Level |
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Additional Qualitative Data |
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Additional Quantitative Data |
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Service Level Customization |
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Report Format Alteration |
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