"According to a market report by Lucintel, the future of the global indexable insert market looks promising with opportunities in the aerospace, automotive, medical devices, electronics, energy, general manufacturing, and heavy machinery markets. The global indexable insert market is expected to reach an estimated $9.4 billion by 2030 with a CAGR of 4.8% from 2024 to 2030. The major drivers for this market are expanding need for precise machining in sectors such general manufacturing, aerospace, and automotive, modernization of coatings and cutting tools, and offers an economical solutions for production environments with high volume demands.

A more than 150 – page report is developed to understand Trends, opportunity and forecast in indexable insert market to 2030 by cutting operation (rough machining, finishing machining, high-speed machining, and hard material machining), insert type (turning inserts, milling inserts, drilling inserts, threading inserts, and grooving & parting inserts), workpiece material (steel, stainless steel, cast iron, aluminum, exotic alloys, and non-ferrous metals), application (aerospace, automotive, medical devices, electronics, energy, general manufacturing, and heavy machinery), and region (North America, Europe, Asia Pacific, and the Rest of the World).

In this market, steel, stainless steel, cast iron, aluminum, exotic alloys, and non-ferrous metals are the major segments of indexable insert market by workpiece material. Lucintel forecasts that steel will remain the largest segment over the forecast period.

Within this market, automotive will remain the largest segment over the forecast period.

North America will remain the largest region over the forecast period due to its strong manufacturing industry and state-of-the-art machining technologies, existence of major industry participants, research and innovation hubs, and partnerships between manufacturers and technology suppliers.

Sandvik Coromant, Kennametal, Iscar, Mitsubishi Materials, Seco Tools, Walter, Kyocera, Tungaloy, Sumitomo Electric Industries, and Ceratizit are the major suppliers in the indexable insert market.

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This unique research report will enable you to make confident business decisions in this globally competitive marketplace. For a detailed table of contents, contact Lucintel at +1-972-636-5056 or write us at helpdesk@lucintel.com