Portland, OR, Sept. 16, 2021 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global hacksaw blades market generated $0.9 billion in 2020, and is projected to reach $1.5 billion by 2030, witnessing a CAGR of 4.7% from 2021 to 2030. The report provides a detailed analysis of changing market dynamics, top segments, value chain, key investment pockets, regional scenario, and competitive landscape.
Rise in utilization of hacksaw blades within the process of sawmill manufacturing and industrialization coupled with increase in infrastructural spending drive the growth of the global hacksaw blades market. However, growth in popularity of laser cutting and water cutting technologies restrain the market to some extent. On the other hand, growth of machinery and equipment in manufacturing sector presents new opportunities in the upcoming years.
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COVID-19 scenario:
- The outbreak of COVID-19 pandemic led to halted manufacturing activities across the world. At the same time, construction and transportation activities, along with their supply chains, were also hampered significantly. This gave way to declined demand for hacksaw blades in the market.
- However, the global situation is getting better at a slow & steady pace, and the market is anticipated to revive soon.
The report offers detailed segmentation of the global hacksaw blades market based on consumer type, threads per inch, application, and region.
Based on consumer type, the professionals segment held the highest market share in 2020, holding more than four-fifths of the total market share, and is expected to continue its leadership status during the forecast period. However, the DIY segment is estimated to register the highest CAGR of 5.7% from 2021 to 2030.
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Based on application, the manual segment held the largest market share in 2020, holding nearly three-fourths of the total market share, and is expected to continue its leadership status during the forecast period. However, the electric segment is projected to register the highest CAGR of 5.3% from 2021 to 2030.
Based on region, Asia-Pacific contributed to the highest share in terms of revenue in 2020, holding more than one-third of the total market share, and is estimated to continue its dominant share by 2030. However, LAMEA is projected to manifest the fastest CAGR of 5.5% during the forecast period.
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Leading Players:
Leading players of the global hacksaw blades market analyzed in the research include Apex Tool Group LLC, Chronos, Disston Company, Gedore, HABUR-SAWS GmbH, Klein Tools, Inc., Snap-on Incorporated, Stanley Black & Decker, Inc., Starrett, and Thomas Flinn & Co.
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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.
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