NEWARK, Del, Aug. 12, 2024 (GLOBE NEWSWIRE) -- According to a Future Market Insights (FMI), the global circular saw blade market is expected to reach a valuation of USD 6,409.9 Million in 2024, with a projected compound annual growth rate (CAGR) of 5.5% from 2024 to 2034. The market is forecasted to grow significantly, achieving a value of USD 10,936.1 Million by 2034. This expansion reflects a 1.7-fold increase in sales by the end of the forecast period.
The circular saw blade market has been experiencing steady growth, fueled by increasing demand across various industries such as construction, woodworking, and metalworking. Circular saw blades are highly valued for their precision cutting capabilities and are essential tools in these sectors. The market's expansion is closely linked to the overall growth of these industries.
Several factors are driving the growth of the circular saw blade market. One significant factor is the rapid pace of urbanization and infrastructure development, especially in emerging economies. This has led to an increase in construction activities, which in turn has boosted the demand for saw blades used in cutting various building materials. Additionally, the global woodworking industry is expanding, driven by the growing demand for furniture, interior décor, and wooden artifacts. This trend has increased the need for high-quality saw blades that can provide clean and accurate cuts.
Technological advancements have also played a crucial role in market growth. Innovations in blade materials and designs have resulted in more efficient, durable, and specialized saw blades. For example, carbide-tipped and diamond-tipped blades offer superior performance, longer life, and the ability to cut through tougher materials. These advancements have made circular saw blades more appealing to both professionals and DIY enthusiasts.
Furthermore, the rise of automation in manufacturing and the increasing adoption of CNC (Computer Numerical Control) machines in woodworking and metalworking industries have driven the demand for high-precision saw blades.
The rise of the do-it-yourself (DIY) culture has also contributed to the market's growth. The DIY trend, particularly in home improvement and crafting, has fueled the demand for circular saw blades among hobbyists and small-scale users. The availability of affordable, easy-to-use tools has made woodworking and metalworking more accessible to a broader audience. Moreover, the expansion of e-commerce platforms has made it easier for consumers and professionals to access a wide range of circular saw blades. Online platforms offer extensive product selections, competitive pricing, and convenient delivery options, further contributing to market growth.
Key Takeaways from Report:
- India: Leading growth at 6.4% CAGR, fueled by rapid industrialization and construction.
- Japan: Strong 6.1% CAGR driven by demand for precision tools in advanced manufacturing.
- China: Expanding steadily with a 5.3% CAGR, supported by major infrastructure projects.
- U.S.: Consistent 5% CAGR, driven by construction growth and DIY trends.
- Germany: Stable 4.1% CAGR, reflecting steady demand in established manufacturing sectors.
- The ripping saw blades segment is projected to lead in 2024, holding a 32.8% market share by product type.
“Woodworking remains a major application for saw blades, with this segment expected to maintain its dominance in the global market. The growth is largely driven by increasing demand for saw blades in the production of wooden furniture and construction materials.” – opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Analysis:
The circular saw blade market is characterized by a mix of well-established global brands and numerous regional and local players, creating a fragmented competitive landscape.
Major manufacturers are strategically expanding their portfolios, particularly in high-growth product categories, to enhance their market position. This diversity in the market intensifies competition, as companies vie for dominance through superior product quality, performance, and competitive pricing. The presence of both large multinational firms and smaller regional businesses drives a dynamic and highly competitive industry environment.
View the Detailed Report Here! https://www.futuremarketinsights.com/reports/circular-saw-blade-market
Key Manufacturers of Circular Saw Blades
- Kyocera Corporation
- Bosch
- Makita Corp
- Techtronic Industries Company
- Hilti Corporation
- Hangzhou Wagen Precision Tooling Co., Ltd. (Ferrotech)
- Milwaukee Tool
- Stanley Black & Decker
- Metabo HPT
- Amana Tool
- JK Files & Engineering Limited
- Freud Tools
- Electrex India Ltd
- Kulkarni Power Tools Ltd.
- Hangzhou FUWEISI Saw Industry Co.
Circular Saw Blade Market Segmentation Analysis:
By Blade Type:
- Ripping
- Combination
- Crosscut
- Specialty blades
By Diameter:
- Up to 6 inches
- 7 to 12 inches
- Above 12 inches
By Material Type:
- High-speed steel (HSS)
- Carbide-tipped, and others
By Sales Channel:
- Direct sales
- Indirect sales
By Application:
- Woodworking
- Metalworking
- Masonry, and others
By Region:
- North America
- Latin America
- East Asia
- South Asia
- Western Europe
- Eastern Europe
- The Middle East and Africa
About the Industrial Automation Domain at Future Market Insights:
The Industrial Automation team at Future Market Insights offers expert analysis, time-efficient research, and strategic recommendations with an objective to provide authentic insights and accurate results to help clients worldwide. With a repertoire of over 100+ reports and 1 Billion+ data points, the team has been analyzing the industry lucidly in 50+ countries for over a decade. The team provides a brief analysis of key trends including competitive landscape, profit margin, and research development efforts.
Authored by:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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