High Speed Steels Market Navigating Growth Opportunities and Forecasted Outlook from 2025-2034

Growing adoption of carbide-cutting tools in multiple industries, posing competitive challenges to HSS.

WILMINGTON, DE, UNITED STATES, December 3, 2025 /EINPresswire.com/ -- Allied Market Research has released its latest report, “High Speed Steels Market by Type, Production Method, Grade, End User, and Region: Global Opportunity Analysis and Industry Forecast, 2023–2032.” According to the study, the global high-speed steels (HSS) market was valued at $5.3 billion in 2022 and is projected to reach $9.4 billion by 2032, registering a CAGR of 6.2% during the forecast period.

Growing awareness of technological advancements and the superior performance benefits offered by high-speed steels are expected to fuel market growth in the coming years. North America is forecasted to retain the largest regional market share through 2032.

𝐃𝐨𝐰𝐧𝐥𝐨𝐚𝐝 𝐒𝐚𝐦𝐩𝐥𝐞 𝐏𝐚𝐠𝐞𝐬 𝐨𝐟 𝐑𝐞𝐬𝐞𝐚𝐫𝐜𝐡 𝐎𝐯𝐞𝐫𝐯𝐢𝐞𝐰: https://www.alliedmarketresearch.com/request-sample/A13668

Prime Determinants of Growth

The high-speed steel market is set for strong expansion driven by:-

Key Growth Drivers:

- Increasing demand from the aerospace and energy industries, where HSS tools are essential for precision and high-temperature performance.
- Rising global energy consumption and expanding renewable energy initiatives, generating new opportunities for advanced cutting tools and materials.

Market Opportunities:

- Heightened awareness of technological improvements in HSS and its reliability, toughness, and temperature resistance.
- Surging investment in renewable energy projects, creating additional demand for HSS in turbine, generator, and equipment manufacturing.

Market Restraints:

- Limited investment in R&D activities related to high-speed steel innovation.
- Growing adoption of carbide-cutting tools in multiple industries, posing competitive challenges to HSS.

Segmental Highlights:

By Grade: M Grade to Maintain Leadership Through 2032

- Held 45.7% share in 2022 and projected to increase to 47.5% by 2032.
- The popularity of M-series alloys known for lower tungsten content and wide applicability continues to support segment growth.

By End User: Automotive Sector to Remain Dominant

- Accounted for 28.9% share in 2022, expected to rise to 32.6% by 2032.
- The expansion of global electric vehicle (EV) manufacturing is fueling demand for HSS-based cutting and machining tools.

By Type: Molybdenum HSS Leads the Market

- Represented 38.2% of the market in 2022 and will maintain dominance through 2032.
- High-temperature strength and superior wear resistance keep molybdenum HSS in strong demand.

By Production Method: Powder Metallurgy (PM) HSS to Dominate

- Held 40.3% share in 2022, expected to grow to 42.5% by 2032.
- PM HSS provides a refined microstructure, enhanced dimensional stability, and superior toughness—ideal for CNC and precision mechanical applications.

Regional Analysis: North America at the Forefront

- North America led the market with 35.7% share in 2022 and is projected to reach 38.8% by 2032.
- The region’s strong industrial base, investment in high-performance materials, and adoption of advanced tooling technologies underpin its continued dominance.

Leading Market Players:-

Key companies shaping the global high-speed steels market include:

- Amada Co., Ltd
- Sandvik AB
- RUKO GmbH
- Walter AG
- ArcelorMittal
- OSG Corporation
- NIPPON KOSHUHA STEEL CO., LTD.
- Kyocera
- Kennametal
- Proterial, Ltd.

These players are actively pursuing strategies such as product innovation, partnerships, expansions, and joint ventures to strengthen their global presence.

𝐖𝐚𝐧𝐭 𝐭𝐨 𝐀𝐜𝐜𝐞𝐬𝐬 𝐭𝐡𝐞 𝐒𝐭𝐚𝐭𝐢𝐬𝐭𝐢𝐜𝐚𝐥 𝐃𝐚𝐭𝐚 𝐚𝐧𝐝 𝐆𝐫𝐚𝐩𝐡𝐬, 𝐊𝐞𝐲 𝐏𝐥𝐚𝐲𝐞𝐫𝐬' 𝐒𝐭𝐫𝐚𝐭𝐞𝐠𝐢𝐞𝐬: https://www.alliedmarketresearch.com/high-speed-steels-market/purchase-options

About Us:

Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

David Correa
Allied Market Research
+ + + + + + + + + + + +1 800-792-5285
email us here
Visit us on social media:
LinkedIn
Facebook
YouTube
X

Legal Disclaimer:

EIN Presswire provides this news content "as is" without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the author above.