by The circular saw blade market has witnessed significant growth over the past few years owing to rising demand from the construction industry. Circular saw blades are essential cutting tools utilized for various applications in woodworking and metal cutting. They provide clean cuts and precision that helps complete projects efficiently. The blades are made up of carbide or carbon steel and come in various sizes and tooth configurations suitable for different materials. Rapid urbanization and infrastructure developments around the world have fueled the demand for circular saw blades from the construction sector.
The Global circular saw blade market is estimated to be valued at US$ 17.12 Bn in 2024 and is expected to exhibit a CAGR of 6.0% over the forecast period 2024 to 2031.
Key Takeaways
Key players operating in the circular saw blade market are AKE Knebel GmbH & Co. KG, AMADA Holdings Co., Bosun, Dimar Tooling, Freud America Inc., Illinois Tool Works Inc., Ingersoll Rand Inc., Kinkelder B.V., Ledermann GmbH & Co. KG, Leuco Tool Corporation, OSTAR Tools, Pilana Knives A.S., Simonds International LLC, Stanley Black & Decker Inc., and The M K Morse Company. These players are focusing on new product launches and strategic collaborations to gain a competitive advantage in the market.
The major opportunities in the global Circular Saw Blade Market Demand include rising demand from woodworking and sheet metal fabrications. Additionally, increasing spending on home improvement and remodeling activities is also fueling market growth.
The market is witnessing rapid expansion in the Asia Pacific region owing to growing construction activities in countries such as China and India. Furthermore, expansion of manufacturing units of key market players is helping drive the circular saw blade market revenues in the region.
Market Drivers
The key driver influencing the circular saw blade market is the increasing construction spending globally. According to the Global Construction 2030 report, the total construction output is expected to grow by 85% to $15.5 trillion worldwide by 2030. This rising investment in building buildings, highways, bridges, and other infrastructure development projects is generating high demand for circular saw blades. Rapid urbanization is another major factor augmenting market growth as more residential and commercial construction takes place to accommodate the growing urban population.
PEST Analysis
Political: The circular saw blade market is affected by regulations pertaining to industrial safety and environmental standards. New rules regarding worker safety and waste disposal impact product demand and design.
Economic: Changes in disposable income and industrial output influence the purchasing power of end-users in construction and woodworking industries. Market dynamics shift with economic cycles.
Social: Population growth and urbanization trends drive the need for residential and commercial construction. Hobbies like woodworking are popular amid increased leisure time.
Technological: Advances in metallurgy and diamond abrasives enable higher cutting speeds and precision. Integrated electronics and sensors allow for automated functions and enhanced safety. Connected tools facilitate remote monitoring and predictive maintenance.
The geographical region where the market in terms of value is concentrated currently is North America. Countries like the United States have well-established woodworking and construction industries. Growing infrastructure investment and renovation activities support circular saw blade demand.
The fastest growing region for the circular saw blade market in the forecast period from 2024 to 2031 is expected to be Asia Pacific. Countries like China, India, and others are urbanizing rapidly, fueling residential and non-residential construction. Increasing disposable incomes are enabling hobbyists in the region. With developing industrial bases, Asia Pacific represents substantial future opportunities.
*Note:
1. Source: Coherent Market Insights, Public Source, Desk Research
2. We have leveraged AI tools to mine information and compile it.
About Author:
Money Singh is a seasoned content writer with over four years of experience in the market research sector. Her expertise spans various industries, including food and beverages, biotechnology, chemical and materials, defense and aerospace, consumer goods, etc. (https://www.linkedin.com/in/money-singh-590844163)
