Published on : Sep 10, 2019
Recently, a new research report, titled “Global Market Study on Diamond Tools: Rising Usage with CNC Machines at Automotive Production Plants Propels Demand,” has been added to the vast repository of ResearchMoz.us. This research study presents a deep insight into the existing trends and the future prospects of the global diamond tools market.
The widening application base of diamond tools across a number of industries is the main factor that has been boosting the global diamond tools market. According to the research, the market, which was worth US$7.92 bn in 2013, will rise at a healthy CAGR of approximately 8.0% during the period from 2018 to 2028 and reach a value of US$10.00 bn by the end of the forecast period.
The competition within the global diamond tools market is low to medium. Although the market is crowded with a number of players but it is led by only a few. 35% to 40% of the overall market is captured by tier 1 players. Some of the key players in the market are:
• Dellas S.p.A.
• Kyocera Unimerco A/S
• Shinhan Diamond
• Texas Diamond Tools Inc.
• Sumitomo Electric Industries Ltd.
These players are actively focusing on increasing their footprint across the world, for which they are opening new sales offices and building novel product plants in various regions, states the report.
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Based on the region, the global diamond tools market is segmented into North America, South Asia, East Asia, Europe, Latin America, and the Middle East and Africa. The availability of better infrastructure and continued expansion in the construction, aerospace, and the automotive industries in developed regions point towards the dominance of North America and Europe. Other regional markets for diamond tools are also expected to report a decent hike in the near future, reports market study.