Published Date : 29 Dec 2023
The global circular saw blade market size reached USD 10.6 billion in 2022 and is expected to reach USD 15.92 billion by 2032, growing at a CAGR of 4.2% during the forecast period 2023 to 2032.
A circular saw blade is a tool used in the mechanical sector. It is made up of an abrasive disc or blade to cut a different material using a motor placed in the center to support a spinning motion of the saw blade that provides speedy circular motion. A circular saw is used to cut a variety of materials like wood, metal, plastic, etc. It can be hand-operated or mounted on a machinery tool driven by electricity or a hydraulic motor so that a different energy source is not needed to operate a circular saw.
The modern-day circular saw blades have a coating of zirconium or titanium and are manufactured with sharp tooth edges to get smooth and keen cuts for needed materials. These coatings further enhance the blades' quality and durability, making them highly demandable tools in the current market as they can be extensively used in industrial fields like furnishing, construction sites, mining processes, and automotive sectors.
Fast-paced industrialization and revolutionary urbanization, coupled with technological advancements in manufacturing circular saw blades, are major contributing factors to this market's positive impact. The rise in remodeling and renovation work of homes and construction sites, particularly for luxurious looks and aesthetic purposes, has also fueled the demand for these advanced tools. As the market seeks decorative items like a variety of furniture and interiors with different angles to meet high standard living expectations, the need for high-quality saw blades with sharp edges for cutting complex designs has grown. This, in turn, propels the growth of the circular saw blade market worldwide.
North America exhibited significant growth over forecasted years due to the increasing demand for residential and commercial applications in the US market. The aim of key manufacturers is to provide various tools that can be used for sharp cutting and precise shapes for any material. Versatile production in circular saw blades is a crucial factor for the acceleration of the market's turnover. For instance, BOSCH Ltd is a leading manufacturer that provides wood circular saw blades with sharp edges to cut wooden material. These products are made of rigid material called carbide grains, which further extend their toughness and durability. The protective coating is anti-corrosive and friction-reducing with low noise.
Europe is an emerging market projected to be one of the leading manufacturers and distributors in the saw blades market. Activities like reconstruction and renovation of residences conducted in the major cities of Europe continuously aid the increase in demand for circular saw blades. For instance, AKE Knebel is a German manufacturer and provider of several types of circular saw blades, ranging from conventional saw blade types to the newest version for industrial as well as commercial purposes.
Asia Pacific is expected to witness exponential growth in the market due to the rising population creating human resources that accelerate growth factors, leading to new opportunities in the manufacturing of saw blades market as residential uses have increased over the last few decades. Thus, the increasing population causes more urbanization and industrialization, which will further accelerate the demand for various high-tech tools in the circular saw blades market. For instance, Shine Peak Group Ltd, located in Hong Kong, China, is a manufacturer and exporter of various cutting tools used for diamonds. The presence of such impactful manufacturers with a wide range of product supplies can further lead to rising market turnover in the Asian Pacific region.
Middle East is projected to witness fast growth due to the rapid development of construction businesses and the real estate market. Construction activities will also fuel the various types of saw blade demand in the forecast period. Thus, manufacturers are also focusing on expanding their business in this region.
|Market Revenue in 2023
|USD 10.99 Billion
|Projected Forecast Revenue by 2032
|USD 15.92 Billion
|Growth Rate from 2023 to 2032
|CAGR of 4.2%
|2023 to 2032
|North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa
Rampancy in renovation and construction
Due to the rapid changes happening in the past few decades in terms of living standards of growing nations like India, China causes revolutionary urbanization and fast-paced constructions in many countries. As circular saw blades are essential tools used in construction, the demand for saw blades globally is increasing. Developing countries like India and China have major industrial key players like BOSCH impacts the overall economic turnover of the saw blades market.
Furniture manufacturers utilize equipment that can be used to cut materials like wood and metals to create the best possible furniture design for aesthetic looks in commercial buildings and renovation purposes. Circular saw blades play a vital role in creating a significant demand for a variety of crafts that are used for rebuilding and residencies, which is a significant factor driving the market.
Technical advancement in saw blades
Technical advancements in circular saw blades are more innovative, less time-consuming, and less subject to accidents in the manufacturing industries. As there is rampant growth in the construction businesses all over the world, this leads to high demand for saw blades equipped with technical tools such as automatic table saws equipped with sensors and monitors. Such an integration of technological devices and saw blades can further fuel the saw blade market across the globe.
Considering the market needs, manufacturers indulge in creating innovative saw blades to expand their business. For instance, the automobile industry demands more powerful saw blades operated by an energy supply at high speed and are used to cut metal parts or rubber material, which is needed to fabricate the vehicle's outer design. All such factors aid in expanding the saw blade market across the globe.
Lack of skilled human resources with safety standards
Safety standards and regulations are major concerns requiring manufacturers to invest a large amount of their budget in research and development to meet essential needs. To regulate the proper use and management of waste material, manufacturers must address energy requirements, waste disposal, and eco-friendly material uses to not harm the environment. Manufacturers must take training programs for laborers to understand and apply safety rules, which also requires time and money. However, economic fluctuations and a lack of human resources can hinder the market.
Automation in furniture and woodworking manufacturing process
The implementation of advanced furniture and woodworking manufacturing technologies is continuously growing, leading to the enhancement of saw blade production in the market. Machines equipped with different types of saw blades can reduce working time and physical effort, thereby increasing overall output. These factors create opportunities for manufacturing saw blades with technological advancement in the market.
Muti-functionality creates an excellent opportunity for saw blade providers to expand their business and increase the employment rate in the market. For instance, in the Indian market, key players like Mirage Machines Ltd and Freud India Pvt Ltd are leading providers of a wide range of circular saw blades for different materials and their applications with durability and cost-effectiveness.
Major Market Segments Covered:
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