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Circular Saw Blades Market: Research Insights, Size Overview, and Growth Trends
Circular Saw Blades Global Market Report 2024
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According to The Business Research Company's, The circular saw blades market size has grown steadily in recent years. It will grow from $10.21 billion in 2023 to $10.49 billion in 2024 at a compound annual growth rate (CAGR) of 2.8%. The growth in the historic period can be attributed to growth in construction and woodworking industries, industrialization and urbanization, introduction of specialized blades, increased adoption of power tools, globalization of manufacturing.
The circular saw blades market size is expected to see strong growth in the next few years. It will grow to $13.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%. The growth in the forecast period can be attributed to growing demand for sustainable materials, rise of smart manufacturing, increasing focus on safety features, focus on lightweight and ergonomic designs. Major trends in the forecast period include integration of iot in cutting tools, product innovations, collaborations and partnerships, customization and specialization.
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Market Drivers and Trends:
The increasing demand for wood in the building and construction industries is expected to propel the growth of the circular saw blades market going forward. Wood refers to the raw material that is used for various purposes including construction activities. Circular saw blades offer precise and efficient wood-cutting capabilities, making them essential for the building and construction industries and enabling accurate shaping and sizing of various materials, such as wood and wood-related products, to meet construction requirements. For instance, in September 2022, according to the Department of Agriculture, Fisheries and Forestry (ABARES), an Australia-based governmental organization, by 2030, global consumption of roundwood is expected to rise by around 10% to 2.2 billion cubic meters. Therefore, increasing demand for wood in the building and construction industries drives the circular saw blades market.
Technological advancements are a popular trend in the circular saw blade market. Major companies operating in the circular saw blades market are focused on technological advancements to meet demand and sustain their position in the market. For instance, in August 2022, LENOX tools, a Stanley Black & Decker company, an India-based tools manufacturing company, introduced WAVE EDGE, a reciprocating saw blade technology. The WAVE EDGE technology offers a new tooth form and design to enhance the cutting process and give smoother results with the saw. Additionally, the company also introduced products that include METALWOLF
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Major Key Players of the Market:
Robert Bosch GmbH, Stanley Black and Decker Inc., General Saw Corporation, Makita Corporation, Festool Group GmbH & Co. KG, The Milwaukee Electric Tool Corporation, Ridge Carbide Tool, Henan Huanghe Whirlwind Co. Ltd., Lenox Corporation, Leitz Tooling Systems LP, Simonds International Corporation, KANEFUSA CORPORATION, Tenryu Saw Mfg Co. Ltd., Irwin Industrial Tools, The Leitz Group, Amana Tool Corporation, Jiangsu Fengtai Tools Co. Ltd., SKIL tools, Kinkelder BV, Diamond Products Limited, Everede Tool Co., Dimar Cutting Tools Ltd., Hangzhou Wagen Precision Tooling Co. Ltd., Stark S.p.A, LEUCO AG, Tangshan Metallurgical Saw Blade Co. Ltd., AKE Knebel GmbH & Co. KG, Freud Produzioni Industriali S.P.A., PILANA a.s.
Circular Saw Blades Market 2024 Key Insights:
• The circular saw blades market size is expected to see strong growth in the next few years. It will grow to $13.5 billion in 2028 at a compound annual growth rate (CAGR) of 6.5%.
• Increased Demand For Wood And Building Construction
• Technological Advancement To Enhance Market Position
• North America was the largest region in the circular saw blades market in 2023
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