May 17, 2023 17:00 ET | Source: CONSEGIC BUSINESS INTELLIGENCE PRIVATE LIMITED CONSEGIC BUSINESS INTELLIGENCE PRIVATE LIMITED
New York, May 17, 2023 (GLOBE NEWSWIRE) -- The global Circular Saw Blade Market is expected to witness significant growth at a CAGR of 4.5% during the forecast period of 2023-2030. This growth is attributed to the increasing demand for circular saw blade in various home remodeling and renovation activities. In addition, the growing automotive industry due to various technological advancements in key regions such as Asia Pacific, North America, and others are accelerating the demand for circular saw blade. Metal Cutting Oscillating Blade
According to a recent report by Consegic Business Intelligence, the circular saw blade market is poised for strong expansion and is expected to reach USD 14,597.78 million by 2030. The market, which was valued at USD 10,340.99 million in 2022, is predicted to grow at a compound annual growth rate of 4.5% during the period 2023-2030. The report highlights the increasing adoption of circular saw blades for efficient wood and metal cutting that is proliferating the global market growth. Consegic Business Intelligence study also provides insights into the market's competitive landscape, market segmentation, regional outlook, and emerging technologies in the circular saw blade market.
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Global Circular Saw Blade Market Size, Share & Trends Analysis, By Type (Crosscut Saw Blades, Ripping Saw Blades, Combination Saw Blades, Diamond Saw Blade, and Others), Blade Diameter (5-1/2 Inches, 7-1/4 Inches, and Others), Application (Wood Cutting, Metal Cutting, Steel Cutting, Stone Cutting, and Others), By Region, Forecast Period 2023 – 2030.
Consegic Business Intelligence Pvt. Ltd. provided an inclusive research report on the circular saw blade market that evaluates multiple factors, such as market size, value, supply chain, regulatory environment, and trends. The report analyzes significant segments such as type, blade diameter, application, and region, to identify emerging trends and potential opportunities. By leveraging this information, market players have the opportunity to improve their competitive edge against other manufacturers by engaging in strategic collaborations, mergers, and acquisitions, and introducing innovative products to strengthen their market position.
Circular saw blades are one of the most common power tools that are used to cut wood, metal, ceramic tile, and masonry. Such saw blades consist of a blade guard, footplate, depth adjustment, and bevel adjustment to make straight cuts across a board. Circular saw blades are versatile tools used in various industries such as furniture, automobiles, and building and construction for a wide range of applications including wood cutting, metal cutting, and stone cutting, among others.
Moreover, the construction industry is the major consumer of circular saw blades as these blades are used to cut various construction materials such as wood, stone, and metal. Therefore, the rising infrastructural activities are driving the circular saw blade market growth. Additionally, the increasing demand for power tools due to their versatility, ease of use, and efficiency is also contributing to the circular saw blade market growth.
Furthermore, the development of new materials and coatings to increase the operational life of the tools along with the integration of monitors and sensors to enhance efficiency and safety is projected to propel the market growth over the forecast period. Hence, the rising technological advancements to make these power tools more durable and long-lasting are anticipated to offer lucrative opportunities for the key players operating in the circular saw blade market.
Global Circular Saw Blade Market: Report Attributes
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Global Circular Saw Blade Market Segmentation Details:
Based on Type, the combination saw blades segment dominated the circular saw blade market in 2022. Combination saw blades are the most commonly utilized blades as these are multipurpose blades that could be used for ripping and cross cutting. The blades are widely used for hardwoods, softwoods, veneers, and plywood. For instance, Dimar Tooling, a global cutting tools group, offers Combination Multipurpose Cut Saw Blade that could be used for plastics, solid surface materials, and aluminum composites. The rising demand for these blades due to their versatile and efficient nature is contributing to the growth of the circular saw blade market.
Based on Blade Diameter, in 2022, the 7-1/4 inches segment held the highest market share in terms of revenue. Various circular saw blades accept blades of 7-1/4 diameter as these blades can cut three-fourth inch thick plywood and lumber. For instance, M. K. Morse, headquartered in the U.S., offers 14" CSM14MB that has a 7-1/4 blade diameter for wood and metal cutting purposes. Therefore, the above-mentioned factors contributed to the growth of the circular saw blade market.
Based on Application, the wood-cutting segment held the highest market share of the circular saw blade market. The wide range of applications of wood in various end-use industries such as construction and furniture manufacturing is increasing the demand for circular saw blades to cut wood effectively and efficiently. Therefore, the growing wood industry due to increasing home renovation and remodeling projects across the globe is driving market growth.
Based on Region, in the year 2022, Asia Pacific is expected to register the fastest CAGR of 5.7% in the market during the forecast period. The rising infrastructure along with the wood industry is expected to boost the circular saw blade market in the region. Additionally, the growing automotive industry owing to technological advancements such as the development of electric vehicles is anticipated to propel the market growth in the region.
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Bosch Limited, AKE Knebel GmBH, Dimar Tooling, and AMADA CO., LTD. are major market players that comprise the latest market circumstances. These companies are continuously leveraging new technologies such as advanced equipment to develop innovative solutions that are more efficient, lightweight, and cost-effective as compared to conventional equipment. Further, the circular saw blade market is expected to grow steadily due to rising demand from the building and construction industry, especially in the Asia Pacific, North America, and Europe regions are estimated to boost the market statistics in the coming years. Additionally, the trend towards increasing adoption of circular saw blade to ensure safety is also estimated to drive demand for circular saw blade that is anticipated to increase the competition in the market.
List of Major Global Circular Saw Blade Market:
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Global Circular Saw Blade Market Segmentation:
Frequently Asked Questions in the Circular Saw Blade Market Report
- In 2022, the market size of circular saw blade was USD 10,340.99 million
- In 2030, the market size of circular saw blade will be expected to reach USD 14,597.78 million.
-Increasing demand for power saws from the automobile industry is serving as the major driver for the circular saw blade market.
-In 2022, the 7-1/4 segment accounted for the highest market share of 52.45% in the overall circular saw blade market.
- Asia Pacific is expected to be the fastest-growing region in the market during the forecast period.
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