Saw Blades Market

The global saw blade market is experiencing significant growth and is expected to grow considerably in the next few years. Saws are a vital tool and are extensively used for various activities, especially in the construction and manufacturing industries. They are versatile tools which can cut, grind, and finish any type of object, owing to the availability of many different types of saw blades. Saw blades are of many types based on the task they need to perform. For example, the blade made with High-Speed Steel (HSS) is stronger and more durable than ordinary steel, so they can cut copper, aluminum, and other hard to cut materials. On the other hand, carbide tip blades are preferred over HSS blades owing to their higher strength, but they are more expensive. Hence, to achieve the optimality between price and strength, saw blades are generally coated with different materials to obtain optimal durability, performance, and cut quality. These features make them suitable for cutting and grinding a wide variety of materials such as wood, metal, and stones. Moreover, saw blades are common machinery equipment, and major players in the saw blade industry adopt advanced technologies to increase the durability and strength of their products to sustain the competition in the saw blade market.

Market Scope and Structure Analysis

Description

Saw blades are a component of a saw that is used to cut hard materials. A saw blade in itself can’t be used. They are paired with their drivers or with their handles to be functional. Hence, based on the type of saw, the saw blades are categorized as circular saw blade, band saw blade, chain saw blade, hand saw blade, and others.

COVID-19 Impact analysis

• The COVID-19 pandemic ceased the production of various products in the saw blade industry, which is attributed to the global lockdown. This has hampered the growth of the saw blade market in the years and a similar trend is expected to be seen in the first half of 2022.
• The major demand for saw blades was previously noticed from giant developed and developing countries including the U.S., Germany, Italy, the UK, and China, which are negatively affected by the spread of the coronavirus, thereby declining the demand for saw blades.
• Further, the long-term impact of the lockdown is currently vague and the financial recovery of companies is totally based on their cash reserves. Saw blade manufacturers can afford a lockdown only for a few months, after which the players have to modify their investment plans. For instance, various players in the market halted their production activities for several weeks to reduce their expenses. On the contrary, few players adopted employee lay-offs to sustain themselves during the COVID-19 health crisis.
• Saw blade manufacturers are expected to focus on protecting their workforce, operations, and supply chains to respond to immediate crises and find new ways of working after COVID-19. For instance, provision of sanitizers, maintaining social distance, as well as ensuring the vaccination of every employee in the company can assist in promoting the health and safety of the workforce.

Top Impacting Factors

The rise in disposable income of people in general is positively influencing the furniture manufacturing industry. This trend is anticipated to increase the demand for saw blades. Further, the increased investment in the infrastructure industry is expected to increase the demand for all the supporting industries, including the saw blade industry, thereby increasing the demand for the saw blade market. Furthermore, the construction sector is also experiencing a rise due to rapid urbanization. since the construction sector is one of the major users of saws. Its rise is likely to increase demand in the saw blade market. However, the fluctuating cost of raw materials used in the manufacturing of saw blades is one of the restraining factors hindering the growth of the saw blade market. Contrarily, technological developments in saw blade products such as adoption of stronger and lighter materials, artificial intelligence (AI) in the saws themselves, and others can not only boost the efficiency of the equipment but also result in better handling and a lower number of accidents caused due to mishandling of saws. This is expected to create lucrative opportunities for the growth of the saw blade market during the forecast period.

Market Trends

• New products that contain improved capabilities are launched by leading market players. They take the necessary steps to improve the overall functionality of the products. For instance, in January 2020, the South Korea-based saw blade manufacturer, IBCHE Corporation, launched a new circular saw blade brand, "Cuttra". This new brand will compete with the overseas market. This move has helped the company to expand its product portfolio and sustain the competition in the highly competitive saw blade market.
• Similarly, businesses in the saw blade market adopted business expansion strategies by expanding their facilities to enhance their presence in new regions. For instance, in September 2019, LEUCO hosted an opening ceremony for its new 7,000 square feet of office area and 3,000 square feet of production floor space. This facility includes a training area and an employee lounge, along with increased office space that will enable the company to offer the highest quality and care to customers.
• Moreover, business expansion strategies assist in enhancing the geographic footprint of the company and help in gaining significant market share for saw blade products. For instance, in May 2020, DGI Supply, a supplier and distributer of industrial equipment in Wheeling, Ill., US, announced the acquisition of certain assets of Production Tool & Supply of Rockford, Ill., US. DGI Supply will continue to operate under the PT & S brand for its customers in the Rockford area. This move has strengthened the position of DGI Supply in Rockford.

Key Benefits of the Report

• This study presents the analytical depiction of the saw blades industry along with the current trends and future estimations to determine the future investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the saw blades market share.
• The current market is quantitatively analyzed to highlight the saw blades market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed saw blades market analysis based on competitive intensity and how the competition will take shape in coming years.

 Saw Blades Market Report Highlights