Rockville, Dec. 05, 2022 (GLOBE NEWSWIRE) -- As per this new study by Fact.MR, a market research and competitive intelligence provider, the global plunge saw market is likely to touch US$ 765 million in 2023 and expand at a CAGR of 3.6% during the forecast years of 2023 to 2033.
A plunge saw is a handheld circular saw that spins and cuts high-strength materials such as glass, wood, etc. There are two types of powered plunge saws available - electrical powered, which has a brushless DC motor installed, battery powered, which has a lithium ion battery installed.
Material advancements in plunge saws in terms of motor, blades, blade guard, and base have reduced the demand for conventional saws. The blade in a plunge saw is installed within the machinery, which reduces the risk of injury, improves dust extraction efficiency, and provides accuracy while cutting the material. The use of plunge saws will see high commercial use because of rising infrastructural development happening around the world.
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Moreover, many people like to indulge in DIY activities at home during their free time. This has also created substantial demand for plunge saws under the individual category. The 'Do it Yourself' trend will create lucrative opportunities for the market over the coming years.
Key Takeaways from Market Study
- The global plunge saw market is projected to grow 3.6% and reach US$ 1.09 billion by 2033.
- The market witnessed 2.7% CAGR between 2018 and 2022.
- The market will be valued at US$ 765.0 million in 2023.
- North America leads the global market with 27.2% share in 2023.
- Offline sales account for the highest market share of 71.3% in 2023.
“Rising DIY trend will pave the path of the market for plunge saws,” says a Fact.MR analyst.
Segmentation of Plunge Saw Industry Research
- By Power Source:
- Electrically Powered (Corded)
- Upto 18 V
- 20 V
- Above 20 V
- Battery Powered (Cordless)
- Upto 12 Amp
- 12-14 Amp
- Above 14 Amp
- Electrically Powered (Corded)
- By Track Length:
- Up to 60 Inches
- 60 - 100 Inches
- Above 100 Inches
- By End User:
- Individual / DIY Users
- Commercial Users
- By Sales Channel:
- Online Sales
- Company Owned Platforms
- E-Commerce Platforms
- Offline Sales
- Modern Trade Channels
- Specialty Stores
- Others
- Online Sales
- By Region:
- North Americas
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- Middle East & Africa
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Market Development
Costs of production for plunge saws are high as compared to conventional saws. New entrants are likely to profit much more if they operate by maintaining their operating costs at low levels from the start.
Additionally, fixed costs, variable costs, and semi-variable costs are three additional areas where current manufacturers can save expenses. Plunge saw manufacturers are actively developing long-term collaborations with end users to create consistency in demand. In addition, companies are focused on offering tailored solutions to capture a significant share of the market.
Key Companies Profiled
- Bora Tools
- CHERVON Co., Ltd (Skil)
- Emerson Electric Co (Ridgid)
- Evolution Power Tools Ltd
- Festool GmbH
- Freud America, Inc (Diablo)
- Genesis Power Tools
- Hilti Corporation
- Koki Holdings America Ltd (Metabo)
- Kreg Tools
- Makita Corporation
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global plunge saw market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights based on Power Source (Electrically Powered (Corded), Battery Powered (Cordless)), Track Length (Up to 60 Inches, 60 - 100 Inches, Above 100 Inches), End User (Individual / DIY Users, Commercial Users), and Sales Channel (Online Sales, Offline Sales), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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