Dublin, Sept. 25, 2024 (GLOBE NEWSWIRE) -- The "Power Saw & Blade Market - Global Outlook & Forecast 2024-2029" report has been added to ResearchAndMarkets.com's offering.
The Power Saw & Blade Market was valued at USD 24.77 billion in 2023, and is expected to reach USD 34.09 billion by 2029, rising at a CAGR of 5.47%
The global power saw & blade market is highly competitive due to several factors, such as technological innovation, product quality, brand reputation, distribution channels, and companies' pricing strategies. Well-established companies in the global power saw & blade market, such as Robert Bosh, Techtronic Industries, Koki Holdings, and Stanley Black & Decker, are at the forefront of the market and have built strong brand equity over decades of delivering reliable and high-performance power tools.
These companies invest heavily in research and development to introduce cutting-edge features and technologies, such as brushless motors for improved efficiency, ergonomic designs for enhanced user comfort, and advanced safety mechanisms to reduce the risk of accidents. Additionally, they maintain extensive networks of distributors and retailers, ensuring widespread availability of their products in physical stores and online marketplaces.
North America emerged as the largest revenue contributor in the global power saw & blade market, valued at over USD 6 billion in 2023. In North America, the construction sector is buoyed by investments in infrastructure projects, residential construction, and renovation activities. The housing market, particularly in the U.S. and Canada, is robust, leading to increased demand for power saws and blades for various applications such as framing, flooring, and roofing. Furthermore, the forestry and logging industry significantly impact the demand for power saws, especially in regions with extensive forestry resources, such as the Pacific Northwest in the U.S. and Canada. Power saws are indispensable for tree felling, logging, and processing wood into lumber. The need for productivity, safety, and environmental sustainability drives this sector's demand for efficient and powerful saws.
Meanwhile, the APAC region experienced the fastest growth in the global power saw & blade market due to rapid urbanization and the production of metal and stone. Government initiatives like "Make in India" further boosted industry demand for power saws and blades. Europe also stood out as a major revenue contributor in the power saw & blade market due to its sawmill industry and being the second-largest wood producer globally. In 2022, Germany alone approved 23,539 residential buildings for wood construction.
Moreover, Latin America's demand-driving factors included home renovation and economic growth, with Brazil and Mexico leading as top revenue contributors in the region due to their furniture and marble production manufacturing. The Middle East, particularly countries like the UAE and Saudi Arabia, witnessed rapid urbanization and infrastructure development, leading to increased demand for power saws and blades in construction activities.
MARKET TRENDS & OPPORTUNITIES
Increasing Demand for Polycrystalline Diamond (PCD) Saw Blades
The demand for polycrystalline diamond (PCD) saw blades, particularly in the power saw & blade market has significantly increased in recent years, driven by various factors that underscore their superior performance, durability, and efficiency compared to traditional saw blades. As the global population grows, the demand for wooden materials drives considerable consumption. Industries, including the furniture sector, turn to polycrystalline diamond (PCD) for machining various materials like chipboard, laminates, MDF, HDF, PVC, and CORIAN.
Increasing Demand for Customized Products
The driver behind the increasing demand for customization in the power saw & blade market is the rising emphasis on efficiency and precision in various industries such as construction, woodworking, and metalworking. As these industries continue to evolve and demand higher levels of accuracy and performance, there is a growing need for tools that can be tailored to specific requirements and applications. Customized power saws and blades offer users the flexibility to choose features such as blade material, tooth configuration, size, and cutting speed, allowing them to optimize performance based on their unique needs.
INDUSTRY RESTRAINTS
Lack of Skilled Labour
The primary driver of the labor shortage is the rapid evolution of power saw technology itself. In recent years, materials science, engineering, and automation advancements have propelled the power saw & blade market into a new era of precision and efficiency. However, these innovations come with a steep learning curve, requiring specialized knowledge and training to harness their full potential.
As such, the traditional pool of skilled laborers, already strained by retirement and attrition, struggles to keep pace with the demands of this rapidly evolving landscape. In 2023, the construction industry faced a gap of 5,00,000 skilled labor in the United States. With fewer workers available for construction projects, there may be a decrease in demand for power saws and blades since fewer projects are being undertaken or completed.
KEY QUESTIONS ANSWERED:
- How big is the global power saw & blade market?
- What is the growth rate of the global power saw & blade market?
- Which region dominates the global power saw & blade market share?
- What are the significant trends in the power saw & blade market?
- Who are the key players in the global power saw & blade market?
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 317 |
| Forecast Period | 2023 - 2029 |
| Estimated Market Value (USD) in 2023 | $24.77 Billion |
| Forecasted Market Value (USD) by 2029 | $34.09 Billion |
| Compound Annual Growth Rate | 5.4% |
| Regions Covered | Global |
SEGMENTATION INSIGHTS
Saw Blade:
- Accounted for the highest revenue in 2023.
- Valued for durability, longevity, and reliability across various applications.
- Continuous technological advancements have improved performance and efficiency.
- Noise reduction efforts make saw blades appealing for use in noise-sensitive environments, broadening their applicability across industries.
Metal:
- Emerges as the fastest-growing segment during the forecast period.
- Driven by the expansion of metal fabrication and steel framing activities.
- Increasing infrastructure development projects (e.g., bridges, highways, railways) heighten the demand for metal-cutting tools.
- Highlights the essential role of metalworking tools in enhancing growth and efficiency within the construction and industrial sectors.
Online Channel:
- Recorded the highest CAGR during the forecast period.
- Growth attributed to the wider reach of online platforms and convenience of shopping from anywhere at any time.
- Consumers benefit from easy price and feature comparisons, access to detailed product information, and lower distribution costs that lead to competitive pricing.
- The seamless purchasing process through online channels boosts the popularity and demand for power saws and blades.
MARKET DYNAMICS
Market Opportunities & Trends
- Increasing Demand for Pcd Saw Blades
- Growing Demand for Electric Chainsaws
- Rising Demand of Compact and Lightweight Power Saws & Blades
- Growing Demand for Brushless Motors
Market Growth Enablers
- Technological Advances
- Rising Demand for Multi-Functionality and Versatility
- Increasing Demand in Construction and Woodworking Industries
- Increasing Demand for Customized Products
Market Restraints
- Rise in Raw Material Prices
- Alternative Products
- Lack of Skilled Labour
Industry Overview
- Brushless and Brushed Motor
- Key Insights of Wood Industry
- Construction Industry
- Regulatory Compliance
Scope & Coverage
- Market Definition
- Inclusions
- Exclusions
- Market Estimation Caveats
- Segments Covered & Definition
- Market Segmentation by Product
- Market Segmentation by Applications
- Market Segmentation by Distribution Channel
- Regions & Countries Covered
- Market Derivation
- Historic, Base, & Forecast Years
Premium Insights
- Opportunity Pockets
- Market Maturity Indicator
- Regional Insights
- Market Definition
- Report Overview
- Opportunities & Challenges Analysis
- Segment Analysis
- Regional Analysis
- Competitive Landscape
- Vendor Activities
COMPETITIVE LANDSCAPE
Key Company Profiles
- Husqvarna AB
- Koki Holdings
- Makita
- Robert Bosch
- Stanley Black & Decker
- Techtronic Industries
Other Prominent Vendors
- Albert Knebel
- Amada Machinery America
- Atlas Copco
- CHERVON
- CMT Orange Tools
- CUMI
- Chengdu Yibai Technology
- DoAll Saws
- Delta Power Equipment
- Einhell Germany AG
- Emerson Electric
- Freud
- Forrest Manufacturing Company
- FEIN
- FELDER KG
- Greenworks
- Hangzhou Accurate International Co., Ltd.
- Hilti
- Ingersoll Rand
- IBISE SAW CO., LIMITED
- IRWIN Tools
- KPT Industries
- Karnasch Professional Tools
- Kinkelder B.V.
- Kasco
- KANEFUSA CORPORATION
- King Canada
- Leitz
- M.K. Morse Company
- Metabowerke
- McCulloch
- Oregon Tool
- Panasonic Industry Europe
- Positec Group
- PILANA Group
- Ronix
- STIHL
- Simonds International
- Triton Tools
- TENRYU SAW MFG. CO., LTD
- Zhejiang SALI Abrasive Technology
- 3M
For more information about this report visit https://www.researchandmarkets.com/r/7dpnmh
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
