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The global hacksaw blades market size is estimated to grow by USD 304.01 million between 2022 and 2027, accelerating at a CAGR of 4.94%.
The growth of the market depends on several factors, including increasing residential and commercial construction, growing demand for furniture, and increased demand for automobiles.
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The market share growth of the power hacksaw segment will be significant during the forecast period. The demand is majorly driven by the rising number of commercial infrastructure construction projects around the world. Governments around the world are investing significantly in the development of sports infrastructure and facilities. Spending on capital-intensive projects and infrastructure is expected to grow significantly over the next decade, thus driving the demand for power tools, which, in turn, will spur demand during the forecast period.
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The power hacksaw blades segment was valued at USD 578.23 million in 2017 and continue to grow by 2021. Wood, metal, and alloys are used in houses for making doors and windows. Additionally, the growing wooden furniture market also spurs the demand for lumber. Demand for furniture, such as beds, chairs, and tables, is increasing proportionally to the growth in the construction of buildings. Demand for wood, metal, and alloys from all these applications is met by wood that is produced or processed in sawmills. This, in turn, translates into higher demand for sawmill machinery. Thus, an increase in all the above applications of wood, metal, and alloys will lead to the growth of the market during the forecast period.
Europe is estimated to contribute 33% to the growth of the global market during the forecast period. Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The increasing rate of immigration in Europe is resulting in rapid urbanization. It is expected that around 80% of the population of Europe will be concentrated in urban areas by 2050. The rising pressure on fast-growing cities, such as London, Barcelona, Amsterdam, and Paris, to accommodate the growing urban population is spurring the rise in residential and commercial construction activities. The rising construction spending in countries such as Russia, France, and Germany is increasing the demand in Europe. The market is expected to grow in countries such as Germany, Italy, France, and the UK during the forecast period due to the rising number of construction projects. Some of the major companies in the market, based in Europe, are C. and E. Fein GmbH and Pilana Metal sro.
The governments of various countries are investing in the construction of infrastructure projects to cater to the needs of the growing population. The government of Russia announced investments of USD 40 billion in infrastructure development, including the reconstruction of the 1,167.56-mile M5 motorway and the 839.47-mile M7 motorway, both of which connect Moscow with several cities. Such infrastructure projects are expected to drive the growth of the market in Europe during the forecast period.
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Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the Hacksaw Blades Market.
Magicut Tools Ltd. - The company offers hacksaw blade solutions such as Hard High-Speed Steel, Flexible High-Speed Steel, High Carbon Steel, and Bimetal High-Speed Steel. They also manufacture a wide range of hand tools, power tool accessories, and cutting tools.
The report also includes detailed analyses of the competitive landscape of the market and information about 15 market companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Our researchers analyzed the data with 2022 as the base year and the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
The growing demand for furniture is notably driving the market growth. Hacksaw blades are extensively used in furniture manufacturing for cutting and shaping wood. Wood is used in almost all kinds of furniture, including doors, windows, cabinets, interiors, and many other products. Increasing disposable income and the bandwagon effect are creating the demand for fancy interiors, which, in turn, is creating a higher demand for good-quality furniture. The construction of new houses and renovation of older houses have led to increased demand for furniture, thereby driving the market.
Moreover, improving consumer demand at the global level, real estate development, and the growing residential and commercial construction activities worldwide are expected to drive the demand for furniture during the forecast period. Along with government initiatives, such as the Smart Cities Mission in India, growing foreign and domestic investments in improving infrastructure are driving the growth of the real estate sector in emerging economies such as India, China, Brazil, and Indonesia. Office spaces and business parks in these countries, including India, are on the rise. These factors can drive the demand during the forecast period.
The growing trend of online sales is the primary trend in the market. Online shopping is gaining popularity across the world as it is convenient and saves time for customers. Leading retailers of hand tools like The Home Depot Inc. offer a wide range through their websites. Many of the major companies operating in the market, including C. and E. Fein, Snap-On .and others, also sell their products through their official websites as well as through other e-commerce websites like amazon.com.
Moreover, the advent of social media, increasing Internet penetration, and the growing adoption of smartphones have allowed customers to get reliable access to a wide range of products and have helped them to choose from a wide variety of hacksaw blade products available from different manufacturers. In the next five years, the online market will grow, owing to increasing Internet penetration, growing technological advances, and rising awareness about these products. Moreover, constructive steps being undertaken by key companies to collaborate with major online retailers will also enhance their sales and, in turn, their profits. Thus, all these factors will drive the market in focus during the forecast period.
Volatility in raw material prices is the major challenge impeding the market growth. The prices of the raw materials used in the manufacturing of hacksaw blades, such as steel, aluminum, and copper, do not remain constant but fluctuate continuously based on their availability. Also, the growing gap between the demand for and supply of these raw materials has led to a considerable increase in their prices. Any increase in the price of raw materials increases the manufacturing cost and leads to lower profit margins for companies. Furthermore, to remain competitive in the market, manufacturers are experimenting with low-cost substitutes, which may compromise the quality of the product. Also, raw material suppliers are compelled to increase their prices based on demand, which increases the manufacturing cost.
As the availability of these metals is vital for the production of tools, any surge in the prices of these raw materials could impact the profit margins of hacksaw blade manufacturers, which is a major challenge for the market during the forecast period.
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The report includes the adoption lifecycle of the market, covering from the innovator’s stage to the laggard’s stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their growth strategies.
Global Market Customer Landscape
The report forecasts market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2017 to 2027.
The market caters to various industries, including sawmill manufacturing, hotel, and tourism industries, where professionals and DIY customers alike rely on durable blades for cutting through materials like nitrated steel, cast iron, and stainless steel. With the surge in demand for hacksaw blades, manufacturers are leveraging advanced technologies like laser cutting and water cutting to enhance precision and efficiency. Developing countries such as China, India, and Brazil witness significant sawmill production, driving the need for quality blades with optimal TPI (Threads per inch). Market players focus on product launches, business expansion, and Porter's five forces analysis to navigate the competitive landscape and capitalize on current trends. Profit-oriented business decisions, supported by estimations and market growth strategies, ensure a robust supplier-buyer network across various application areas, from machinery and equipment to tension and frame structures.
Market Scope |
|
Report Coverage |
Details |
Page number |
164 |
Base year |
2022 |
Historic period |
2017-2021 |
Forecast period |
2023-2027 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.94% |
Market growth 2023-2027 |
USD 304.01 million |
Market structure |
Fragmented |
YoY growth 2022-2023(%) |
3.99 |
Regional analysis |
Europe, APAC, North America, Middle East and Africa, and South America |
Performing market contribution |
Europe at 33% |
Key countries |
US, China, Japan, Germany, and UK |
Competitive landscape |
Leading companies, Market Positioning of companies, Competitive Strategies, and Industry Risks |
Key companies profiled |
ABM Tools, Bipico Industries (Tools) Pvt. Ltd., C. and E. Fein GmbH, Capri Tools, Chronos, Disston Co., Drill America, GEDORE Werkzeugfabrik GmbH and Co. KG, Gwalior Tools Ltd., HABUR SAWS GMBH, Klein Tools Inc., Magicut Tools Ltd., Pilana Metal Sro, Robert Bosch GmbH, Sandvik AB, Snap On Inc., Stanley Black and Decker Inc., Techtronic Industries Co. Ltd., The L.S. Starrett Co., and Thomas Flinn and Co. |
Market dynamics |
Parent market analysis, Market forecasting, market growth and trends, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period. |
Customization purview |
If our market research report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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