The global circular saw blade market was estimated at USD 10.09 billion in 2021 and is projected to surpass USD 14.53 billion by 2030, representing impressive CAGR of 4.1% during the forecast period 2022 to 2030. Automotive industry makes extensive usage of circular saw blades for cutting metals and for shaping the car, engine body, and wheels which is fueling growth of global industry.
Key market Insights:
Increasing adoption of circular saw blade for the various emerging applications is estimated to create gainful growth opportunities for the key companies functioning in the global circular saw blade market. Emerging economies across the globe are focusing on the technological development of circular saw blade in order to enhance position in the global industry. For instance, LENOX a leading key player in the global industry new innovative blades including reciprocating saw blades of demolition CT, lazer CT, and carbide tipped hole saws, in 2019. Also, the same company launched range of jig saw blades in 2018. Additionally, in the developed countries like United States and Canada, growth in the adoption of electrical vehicles and growing automotive sector are boosting adoption of circular saw blade which is augmenting growth of the target industry. Also, emerging countries across the globe are focusing on increasing circular saw blade production in order to cater the increasing global demand of the circular saw blade. This trend is expected to continue and will enhance growth of the global industry in the near future.
Vital factors responsible for market progress are:
COVID-19 Impact on Global Circular Saw Blade Market
Outburst of COVID-19 has impacted on most of the key markets across the globe. COVID-19 is have adverse impact on the target market. North America is the biggest market for the circular saw blade, but to the spread of coronavirus and lockdown situations in U.S. supply and demand for the circular saw blade decreased. Due to COVID-19, supply chain disruption, fluctuations in the raw material supply, insufficient man power in the manufacturing facility and low demand form the end use costumers hampered target industry growth in the developed as well as emerging economies worldwide. However, COVID-19 situation is resolving slowly and most of the industries are started their facilities at full capacity.
Future of Global Circular Saw Blade Market
Key companies of the target industry such as Wagen (Ferrotec) and LENOX, Stanley Black & Decker are focusing in the business growth by adopting strategies such as advanced product launches, capacity expansion, and heavy investments in the production in their facilities that is expected to flourish the global circular saw blade market growth in the near future. This trend is expected to continue and will augment growth of the global circular saw blade industry in the next 10 years. Further, demand from automotive, furniture and construction sectors for circular saw blade are boosting growth of the circular saw blade in the coming years.
Report Scope of the Circular Saw Blade Market
|Market Size||USD 14.53 Billion by 2030|
|Growth Rate||CAGR of 4.1% From 2022 to 2030|
|Historic Data||2017 to 2021|
|Forecast Period||2022 to 2030|
|Segments Covered||Type, Application|
|Regional Scope||North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)|
|Companies Mentioned||STARK SpA, Tangshan Metallurgical Saw Blade, General Saw, Lenox, HUANGHE WHIRLWIND, BOSUN, Kinkelder, KANEFUSA, PILANA, Diamond Products, Wagen(Ferrotec)|
Carbide Saw Blades segment is projected to dominate the Type Segment of Circular Saw Blade Market Revenue
The carbide saw blades product segment is expected to dominate in terms of revenue over the forecast time frame. The growth is attributed to the growing demand carbide saw blades in automotive and furniture industries across the globe. Diamond saw blades segment will expand at a significant CAGR during the forecast time-frame.
Stone Cutting Segment Is Anticipated To Dominate the Application Segment of Circular Saw Blade Market By Revenue
The stone cutting segment is expected to dominate in terms of revenue over the forecast time frame. The growth is attributed to increasing demand for circular blades for stone cutting in construction applications across the globe. Differed types of stones including marble, granite, sandstone, quartzite & slate, etc. are widely used in the various construction activities across the globe. Natural stone or sand stone are the most widely adopted for flooring, front elevation or decoration of outer walls, kitchen slabs, toilets, and various in house constructions. Artistic use of stones not only increases the beauty of the construction but also reduces the cost of construction. This is the major factor owing to which the circular saw blades are extensively used for the stone cuttings.
North America is projected to be the Biggest Market for Circular Saw Blade
The research report covers key trends and prospects of circular saw blade products across different geographical regions including North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. Geographically, circular saw blade market is captured by North America owing to growing demand for circular blades in the automotive and construction sectors of the region, especially in the U.S. and Canada of the region. Asia Pacific is expected to register the fast growth rate, on account of huge investment by automotive market players and growing construction sector. Also, increasing demand for the furniture in the Asian countries and rapid industrialization in the emerging economies of Asia Pacific are other factors anticipated to propel growth of the target industry in the countries of region.
Top Players contending in the Market:
The companies focusing on research and development are expected to lead the global circular saw blade market. Leading competitors contending in global circular saw blade market are as follows:
For the better understanding the recent situation of the global market and for most policies of the country, Precedence Research forecast the future evolution of the target industry. This research study offers qualitative and measureable insights on global market and valuation of market size and development trends for global market segments.
Key Market Developments:
Major Market Segments Covered:
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