High Speed Steels Market Share: In-Depth Analysis, Growth Opportunities, Key Trends and Forecast till 2032

Rising demand from aerospace and energy sectors is significantly fueling market expansion.

WILMINGTON, DE, UNITED STATES, October 7, 2025 /EINPresswire.com/ -- According to the report, 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% from 2023 to 2032.

Prime Determinants of Growth:

- The high-speed steels market is witnessing strong momentum driven by multiple growth factors:
- Rising demand from aerospace and energy sectors is significantly fueling market expansion.
- Increasing global energy consumption and the growing emphasis on renewable energy projects are further accelerating demand.

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

However, limited R&D investment and the growing adoption of carbide-cutting tools across various industries may restrain market growth.

On the brighter side, greater awareness of technological advancements and benefits of HSS presents lucrative opportunities for manufacturers in the coming years.

Key Market Drivers:

- Growing modernization of the global aircraft industry
- Rising investments in renewable energy projects

Opportunities:

- Increasing awareness of technological advancements and HSS advantages
- Expansion of renewable energy infrastructure globally

Restraints:

- Insufficient R&D funding and limited innovation in HSS development

Segmental Insights:-

By Grade: M Grade to Continue Dominance by 2032:

- The M grade segment held the largest market share of 45.7% in 2022 and is projected to reach 47.5% by 2032.
- The segment’s dominance is attributed to lower tungsten content and versatile applications in tooling, driving its consistent demand across industries.

By End User: Automotive Industry to Lead by 2032:

- The automotive segment accounted for 28.9% of the market in 2022 and is expected to capture 32.6% by 2032.
- Rising adoption of HSS cutting tools in vehicle component manufacturing, along with the expanding electric vehicle (EV) sector, continues to bolster demand.

By Type: Molybdenum High-Speed Steel to Retain Lead:

- The molybdenum HSS segment dominated in 2022 with 38.2% share and is expected to maintain a 38.0% share by 2032.
- This growth is driven by its superior high-temperature strength, wear resistance, and durability.

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

- The PM HSS segment led with 40.3% share in 2022, projected to rise to 42.5% by 2032.
- Its fine and uniform microstructure, coupled with enhanced toughness and dimensional stability, makes it ideal for precision and CNC applications.

Regional Insights:-

North America to Maintain Market Leadership

- North America accounted for 35.7% of the global market in 2022 and is forecasted to grow to 38.8% by 2032.
- The region’s robust industrial infrastructure, technological progress, and high investments in HSS applications especially across automotive and manufacturing sectors are driving this dominance.

Leading Market Players:-

Key players 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 Corporation
- Kennametal Inc.
- Proterial, Ltd.

These companies are focusing on strategic collaborations, product innovation, geographic expansion, and mergers & acquisitions to strengthen their global presence and competitive edge.

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 (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. 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.