According to a recent report published by Allied Market Research, titled, “Hacksaw Blades Market by Consumer Type, Thread per Inch, and Application: Global Opportunity Analysis and Industry Forecast, 2021–2030,” the hacksaw blades market size was valued at $0.9 billion in 2020, and is expected to reach $ 1.5 billion by 2030, registering a CAGR of 4.7% from 2021 to 2030.
The hacksaw blade is made of nitrated steel, cast iron, aluminum brass, and stainless steel. The teeth on the hacksaw blades are the major cutting elements on the blades. These blades are fixed in a hacksaw under tension in a frame and used for cutting materials such as metal, wood, and plastic. The hacksaw blades are available in 10 TPI, 14 TPI, 18TPI, 24 TPI, and 32 TPI range. These hacksaws are manually and electrically operated and used by DIY and professional consumers.
Rise in utilization of hacksaw blades within the process of sawmill manufacturing is one of the prominent factors driving the growth of the global hacksaw blades market. In addition, rise in demand for furniture in newly constructed infrastructures as well as in renovated buildings has boosted the production of wood cut into pieces through sawmill, which, in turn, contributes toward the market growth. In addition, rapid industrialization has led to increased infrastructural spending on machinery, which propels the hacksaw blades market growth. However, laser cutting technology and water cutting technology consume less time and power compared to tradition hacksaws and can cut wood and metal into complex shapes, which restrain the growth of the hacksaw blades market. Furthermore, the outbreak of COVID-19 has led to halt in logistic and manufacturing activities across the globe, which, in turn, has led to interruption of supply chain, thereby hindering growth of the hacksaw blades market. However, this situation is expected to improve as government is relaxing norms around the world for resuming business activities.
On the contrary, the development of the machinery and equipment in manufacturing sector, majorly in the emerging economies such as China, India, and Brazil, is anticipated to open new avenues for the hacksaw blades market during the forecast period.
The hacksaw blades market is segmented into consumer type, thread per inch, application, and region. By consumer type, the market is segregated into DIY and professionals. On the basis of thread per inch, it is divided into 14 TPI, 24 TPI, and others. The applications covered in the study include manual hacksaw and electric hacksaw. Region wise, the market is analyzed across North America (the U.S., Canada, and Mexico), Europe (Germany, France, Italy, Spain, and rest of Europe), Asia-Pacific (China, Japan, South Korea, India, and rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
KEY FINDINGS OF THE STUDY
- By consumer type, the professionals segment was the highest revenue contributor in 2020.
- Depending on thread per inch, the others segment dominated the market in 2020.
- On the basis of application, the manual hacksaw led the market in 2020.
- Region, Asia-Pacific generated the highest revenue in 2020.
The major players profiled in the Hacksaw Blades market include Apex Tool Group LLC, Chronos, Disston Company, Gedore, HABUR-SAWS GmbH, Klein Tools, Inc., Snap-on Incorporated, Stanley Black & Decker, Inc., Starrett, and Thomas Flinn & Co. Major companies in the market have adopted product launch and business expansion as their key developmental strategies to offer better products and services to customers in the hacksaw blades market.