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Historical Year
Forecast Year
The Mexico metal cutting tools market reached a value of approximately USD 1.62 billion in 2023. The market is projected to grow at a CAGR of 5% between 2024 and 2032, reaching a value of around USD 2.50 billion by 2032.
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Metal cutting tools remove excess material from metal objects through shear deformation. Integral to the machining industry, they are commonly used in manufacturing operations. Their high-precision technology ensures smooth operation, making the entire process quick and efficient.
As per the Mexican Automotive Industry Association (AMIA) and ITA Office of Transportation and Machinery, passenger vehicle production in Mexico has increased to 3,308 in 2022 from 2,979 in 2021. The need for precision machining tools, which are necessary for metal cutting, shaping, and finishing procedures that are important to the precise and effective manufacturing of automotive parts, grows along with the production of passenger vehicles.
Rising demand in automotive and aerospace industries, introduction of new technologies, and growing DIY tool demand in Mexico are the major trends impacting Mexico metal cutting tools market revenue.
February 1, 2024
The latest TSA 300 STIHL Cutquik is a professional-grade battery-powered cut-off machine using the STIHL AP battery system. It's designed for construction and landscaping professionals, capable of cutting through 4-inch concrete slabs.
January 23, 2024
Hilti introduced new cordless tools powered by the 22V Nuron battery platform, expanding its lineup with advancements in wood-cutting and other applications.
April 20, 2023
Seco Tools utilizes additive manufacturing (3D printing) to produce products that are challenging or unfeasible using traditional methods. This approach offers benefits like reduced lead times, enhanced tool longevity, and improved sustainability.
September 01, 2022
As per Mexico metal cutting tools industry analysis, Seco Tools has established a new production unit in Ramos Arizpe, Mexico, dedicated to manufacturing special tools. This strategic initiative aims to strengthen Seco Tools' foothold and operations in the Mexican market.
Rising Demand in Automotive and Aerospace Industries
Demand for high-performance cutting tools rises in the automotive and aerospace industries due to precision machining needs and stringent quality standards.
Rapid introduction of new technologies
The swift adoption of new technologies in manufacturing industries is increasing the Mexico metal cutting tools market value. These novel technologies have increased the applications of metal cutting tools across various industries including but not limited to construction, automotive, and electronics.
Growing DIY tool demand in Mexico
Rising demand for metal cutting tools for DIY projects and household applications is further contributing towards the growth of the metal cutting tools market in Mexico. Preference for DIY projects has increased as the expenditure on raw materials and tools is more affordable than labour costs that keep rising; additionally, the quality of product obtained is often far superior.
Increasing application of metal cutting tools
The use of metal cutting tools in welding and fabrication has grown due to their effective plasma cutting capabilities, thus enhancing their utilisation, and benefiting the market in the country.
Industrial automation is a significant driver as it increases the adoption of advanced tools to boost productivity and reduce costs in manufacturing processes. The automotive and aerospace sectors specifically drive demand due to their requirements for precision machining. Additionally, expansion into emerging markets, characterised by industrial growth and infrastructure development, presents new metal cutting tools market opportunities in Mexico.
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“Mexico Metal Cutting Tools Market Report and Forecast 2024-2032” offers a detailed analysis of the market based on the following segments:
Market Breakup by Product
Market Breakup by Application
Market Breakup by Region
Drilling machines are expected to account for a growing share in the market as they can drill holes in several solid materials, including concrete, copper, steel, and fibreglass.
Several manufacturing processes require accurate drilling of holes with precise dimensions and depths. Drilling holes with hands and other tools takes far longer and the result lacks the accuracy and precision a drilling machine provides.
The dependable performance and low maintenance costs of drilling machines have expanded their use across numerous industries, aiding the metal cutting tools demand growth. Their power-driven rotating shaft makes them increasingly valuable in mechanical structural analysis and drafting. The growing use of drilling machines has facilitated the automation of manual processes and the execution of various industrial tasks.
Automotive industry increasingly uses cutting tools where precise sizing and spacing of vehicle components are crucial.
They are favoured for their high-quality threading and drilling capabilities, fast feed and cutting speeds, and precise metal cutting performance. This preference is driving growth of the Mexico metal cutting tools market. These tools help remove excess material from metal components and provide a superior finish. Their toughness, hardness, and wear resistance make metal-cutting tools an ideal choice to meet the automotive industry's demands.
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The company manufactures power tools and provides all-inclusive metal cutting solutions, such as hole-making, stationary tools, milling, and tooling systems.
Makita Corporation: Founded in 1915, with its headquarters in Japan, focuses on manufacturing and selling portable electric planers, steadily establishing itself as a leading manufacturer of power tools.
Robert Bosch Tool Corporation: Founded in 1886, with its headquarters in the United States, the company is a provider of technology and services across Mobility Solutions, Industrial Technology, Consumer Goods, and Energy and Building Technology.
Hilti Corporation: Founded in 1941, with its headquarters in Liechtenstein, develops, manufactures, and markets products for construction, building maintenance, energy, and manufacturing industries, primarily targeting professional users.
Seco Tools AB: Founded in 1873, with its headquarters in Fagersta Sweden, offers complete solutions for metal cutting including milling, stationary tools, holemaking, and tooling systems.
Other Mexico metal cutting tools market key players are ISCAR LTD. among others.
Northern Mexico, including states such as Nuevo León, Coahuila, and Tamaulipas, occupy a significant portion of Mexico's automotive industry. In 2023, these states collectively produced over 1 million light vehicles, as reported by Mexico's INEGI.
As per Mexico metal cutting tools industry statistics, Central Mexico, particularly in states like Puebla and Guanajuato, also plays a prominent role in the automotive sector and likely accommodates various general-purpose metalworking industries.
| REPORT FEATURES | DETAILS |
| Base Year | 2023 |
| Historical Period | 2018-2023 |
| Forecast Period | 2024-2032 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Product |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Trade Data Analysis |
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| Competitive Landscape |
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| Companies Covered |
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Mexico Metal Cutting Tools Market Size
Mexico Metal Cutting Tools Market Growth
Mexico Metal Cutting Tools Market Trends
Mexico Metal Cutting Tools Market Share
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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The Mexico metal cutting tools market was valued at USD 1.62 billion in 2023.
The market is projected to grow at a CAGR of 5% between 2024 and 2032.
The revenue generated from the Mexico metal cutting tools market is expected to reach USD 2.50 billion in 2032.
The major market drivers include increasing research and development activities by key players, new product launches, growing requirements for high-speed cutting tools, and increasing construction activities.
The key trends fuelling the growth of the market include introduction of novel technologies, increasing popularity of DIY projects, and growing applications in the welding and fabrication industry.
Carbon steel, alloy steel, borazon, and cemented carbide, among others, are the materials commonly used for cutting tools.
Based on the application, the market is divided into automotive, industrial machinery manufacturing, energy and power, marine, aerospace and defence, and others.
The market is categorised according to the product, which includes a machining centre, lathe machine, boring machine, grinding machine, milling machine, drilling machine, and others.
The market is broken down into Baja California, Northern Mexico, Central Mexico, Pacific Coast, and Yucatan Peninsula.
The market key players are Makita Corporation, Robert Bosch Tool Corporation, Hilti Corporation, Seco Tools AB, and ISCAR LTD. among others.
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United States (Head Office)
30 North Gould Street, Sheridan, WY 82801
+1-415-325-5166
Australia
63 Fiona Drive, Tamworth, NSW
+61-448-061-727
India
C130 Sector 2 Noida, Uttar Pradesh 201301
+91-858-608-1494
Philippines
40th Floor, PBCom Tower, 6795 Ayala Avenue Cor V.A Rufino St. Makati City, 1226.
+63-287-899-028, +63-967-048-3306
United Kingdom
6 Gardner Place, Becketts Close, Feltham TW14 0BX, Greater London
+44-753-713-2163
Vietnam
193/26/4 St.no.6, Ward Binh Hung Hoa, Binh Tan District, Ho Chi Minh City
+84-865-399-124
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