The Indian cutting tools industry produces a wide variety of cutting tools such as drills, taps, end mills, reamers, cutters, chasers, rolling dies, saw blades, burrs, hobs, broaches, other gear cutting tools, tool bits, tips/inserts and so on. Broadly, the industry can be grouped HSS (High Speed Steel) cutting tool manufacturers and Carbide cutting tool manufacturers. The domestic cutting tools sector has expanded rapidly over the last two decades owing to strong growth posted by the automotive, heavy and light engineering sectors. Growth in the country’s power generating capacity, railways network and defence production have also acted as key demand drivers for cutting tools. Over the decades, carbide cutting tools have made sharp inroads into the HSS cutting tools’ markets; however, thanks to the overall growth of the engineering sector, the HSS cutting tools sector has also expanded. While bulk of the requirements of HSS and carbide tools are met through domestic production, some imports continue to take place.
The market for HSS and carbide cutting tools in India was valued around INR 15.6 billion in 2012-13. Th automotive segment (Auto OEMs and auto ancillaries) is the major user segment of cutting tools.
HSS & carbide cutting tools market in India (INR million)
MCG Research
Major manufacturers of HSS cutting tools include Addison & Co., BIPICO Industries, CMH Tools, Emkay Tools, Forbes & Company, Hittco Tools, Indian Tool Manufacturers, Jainex Aamcol, JK Files (India), Miranda Tools, Mitsubishi Heavy Industries India, Motherson Techno Tools and YG-1 Industries India. Some of the leading manufacturers of carbide cutting tools are Guhring India, Kennametal India, Sandvik Asia, Seco Tools and Taegutec India
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