High-Speed Steel Twist Drill for Electric Drill Market was valued at USD 2.5 Billion in 2022 and is projected to reach USD 4.2 Billion by 2030, growing at a CAGR of 7.8% from 2024 to 2030.
The high-speed steel (HSS) twist drill market for electric drills has seen significant developments from 2018 to 2022, showing promising growth and transformation. The global demand for high-speed steel twist drills has been driven by the expanding construction and manufacturing sectors, as well as the increasing demand for power tools in various industries. As technological advancements continue, the focus has shifted to improving drill performance, durability, and cost-efficiency. Over the past few years, the market for electric drill accessories, especially HSS twist drills, has flourished due to higher-quality products and innovations in design, catering to both industrial and consumer segments.
Between 2018 and 2022, the high-speed steel twist drill market witnessed a steady increase in demand driven by the growing construction industry and the rising adoption of electric drills in DIY projects. Key factors such as the need for precision in drilling tasks and advancements in drill bit coatings, which improve speed and longevity, have contributed to this upward trend. Global construction booms, along with the automotive industry's increasing use of electric drills, have further fueled the growth of this market segment. The main consumers of these products during this period were the US, Europe, and parts of Asia, where industrial and residential construction projects were on the rise.
Looking ahead, the period from 2023 to 2033 is expected to see a shift in the market dynamics, with growth in demand being fueled by advancements in manufacturing processes, the increasing use of automation, and the demand for more energy-efficient products. The trend is moving toward smart electric drills with integrated features such as variable speed control, Bluetooth connectivity, and enhanced battery efficiency. As a result, manufacturers are focusing on creating high-speed steel twist drills that not only perform better but also adapt to these evolving technologies.
The outlook for this period indicates robust growth, with emerging markets such as Asia-Pacific, South America, and the Middle East seeing increased demand. The ongoing rise in home improvement projects, particularly DIY enthusiasts using electric drills, is expected to sustain the market’s momentum. Furthermore, the automotive, aerospace, and electronics sectors are anticipated to continue contributing significantly to demand for high-performance HSS twist drills, providing substantial market opportunities for key manufacturers.
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LEUCO
BOSCH
Rio Grande
Apex Tool Group
Hartner
OSG
Carmon
NACHI EUROPE GmbH
Dormer Pramet
Mitsubishi
Guhring Group
Sumitomo
Walter AG
Triumph
Tiangong International
Kyocera
Irwin Tool
TDC Cutting Tool
HARBIN TOOL WORKS
Feida
Greenfield Industries
Chengdu Chenliang
Alpen-Maykestag
Fangda Holding
Guangdong Baweishi Tools
Shanghai Tool Works
Changzhou Saimo Tools
By the year 2030, the scale for growth in the market research industry is reported to be above 120 billion which further indicates its projected compound annual growth rate (CAGR), of more than 5.8% from 2023 to 2030. There have also been disruptions in the industry due to advancements in machine learning, artificial intelligence and data analytics There is predictive analysis and real time information about consumers which such technologies provide to the companies enabling them to make better and precise decisions. The Asia-Pacific region is expected to be a key driver of growth, accounting for more than 35% of total revenue growth. In addition, new innovative techniques such as mobile surveys, social listening, and online panels, which emphasize speed, precision, and customization, are also transforming this particular sector.
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Growing demand for below applications around the world has had a direct impact on the growth of the Global High-Speed Steel Twist Drill for Electric Drill Market
Architecture
Metalworking
Electronic
Other
Based on Types the Market is categorized into Below types that held the largest High-Speed Steel Twist Drill for Electric Drill market share In 2023.
Straight Shank High Speed Steel Twist Drill
Taper Shank High Speed Steel Twist Drill
Global (United States, Global and Mexico)
Europe (Germany, UK, France, Italy, Russia, Turkey, etc.)
Asia-Pacific (China, Japan, Korea, India, Australia, Indonesia, Thailand, Philippines, Malaysia and Vietnam)
South America (Brazil, Argentina, Columbia, etc.)
Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria and South Africa)
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1. Introduction of the Global High-Speed Steel Twist Drill for Electric Drill Market
Overview of the Market
Scope of Report
Assumptions
2. Executive Summary
3. Research Methodology of Verified Market Reports
Data Mining
Validation
Primary Interviews
List of Data Sources
4. Global High-Speed Steel Twist Drill for Electric Drill Market Outlook
Overview
Market Dynamics
Drivers
Restraints
Opportunities
Porters Five Force Model
Value Chain Analysis
5. Global High-Speed Steel Twist Drill for Electric Drill Market, By Type
6. Global High-Speed Steel Twist Drill for Electric Drill Market, By Application
7. Global High-Speed Steel Twist Drill for Electric Drill Market, By Geography
Global
Europe
Asia Pacific
Rest of the World
8. Global High-Speed Steel Twist Drill for Electric Drill Market Competitive Landscape
Overview
Company Market Ranking
Key Development Strategies
9. Company Profiles
10. Appendix
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