Global Drill Bits Market Insights and Forecast to 2028

Drill bits are cutting tools used to remove material to create holes, almost always of circular cross-section. A commonly used twist drill is a tool for drilling a circular hole of a workpiece by its rotary cutting relative to a fixed axis. It is named because its chip groove is spiral and shaped like a twist.
Market Analysis and Insights: Global Drill Bits Market
Due to the COVID-19 pandemic, the global Drill Bits market size is estimated to be worth US$ 1795 million in 2022 and is forecast to a readjusted size of US$ 2475 million by 2028 with a CAGR of 5.5% during the review period. Fully considering the economic change by this health crisis, High-Speed Steel (HSS) accounting for % of the Drill Bits global market in 2021, is projected to value US$ million by 2028, growing at a revised % CAGR in the post-COVID-19 period. While Metal segment is altered to an % CAGR throughout this forecast period.
The major producers in this industry include Stanley Black & Decker, Bosch and Techtronic, etc. The top three producers account for more than 36% of the total revenue. From the regional perspective, the European revenue accounts for 34.67% in 2019, which is the highest.
In terms of production side, this report researches the Drill Bits capacity, production, growth rate, market share by manufacturers and by region (region level and country level), from 2017 to 2022, and forecast to 2028.
In terms of sales side, this report focuses on the sales of Drill Bits by region (region level and country level), by company, by Type and by Application. from 2017 to 2022 and forecast to 2028.
Global Drill Bits Scope and Segment
Drill Bits market is segmented by Type and by Application. Players, stakeholders, and other participants in the global Drill Bits market will be able to gain the upper hand as they use the report as a powerful resource. The segmental analysis focuses on production capacity, revenue and forecast by Type and by Application for the period 2017-2028.
Segment by Type
High-Speed Steel (HSS)
Carbon Steel
Carbide
Cobalt Steel
Others
Segment by Application
Metal
Wood
Construction Materials
Others
By Company
Stanley Black & Decker
Bosch
Techtronic
Makita
Hilti
ITW
Top-Eastern Group
Metabo
Regal Cutting Tools
IZAR Cutting Tools
Hartner
RUKO GmbH
Production by Region
United States
Europe
China
Japan
Consumption by Region
North America
U.S.
Canada
Europe
Germany
France
U.K.
Italy
Russia
Asia-Pacific
China
Japan
South Korea
India
Australia
Taiwan
Indonesia
Thailand
Malaysia
Philippines
Vietnam
Latin America
Mexico
Brazil
Argentina
Middle East & Africa
Turkey
Saudi Arabia
UAE