The global circular saw blade market size is projected to reach USD 6,409.9 million in 2024. It is anticipated to surge at a CAGR of 5.5% during the forecast period ranging from 2024 to 2034. The industry is estimated to attain a value of USD 10,936.1 million by 2034. This growth is anticipated to result in an expansion of sales 1.7 times by the end of the forecast period.
Circular saw blades are circular discs that can cut a variety of materials with a spinning motion. These blades are set to be increasingly used in power saws to cut a wide range of materials, including wood and plastic.
| Attributes | Description |
|---|---|
| Estimated Global Circular Saw Blade Market Size (2024E) | USD 6,409.9 million |
| Projected Global Circular Saw Blade Market Value (2034F) | USD 10,936.1 million |
| Value-based CAGR (2024 to 2034) | 5.5% |
Saw blades are available in a variety of forms, including crosscut, rip, combination, and specialized blades, catering to specialized industry needs. These are set to be used for a wide range of applications in a variety of end-use industries, including automotive, woodworking, and furniture manufacturing.
The rapid growth of the construction industry across developed and developing regions is the primary factor driving demand for power tools, such as circular saws for various cutting applications. The industry is anticipated to witness steady growth on account of the rising infrastructure development projects globally.
The construction industry worldwide has witnessed constant expansion in recent years, and this trend is projected to continue. Several countries across the globe are rapidly urbanizing as people shift to urban areas in search of greater economic prospects. This has resulted in an increased demand for residential and commercial buildings.
All of these buildings necessitate substantial woodworking that includes framing, flooring, and furniture. These saw blades have become an essential power tool for woodworkers and carpenters working on construction sites. Their ability to accurately and efficiently cut numerous types of wood and other construction materials makes them a preferable choice.
Circular saws are set to be used for activities, such as creating door and window frames, roof framing, and laying wooden floors in small residential buildings. Large commercial and industrial buildings require a lot more woodwork. This necessitates heavy-duty circular saw blades capable of cutting through thick timber and plywood.
The use of circular saws has proportionally increased with the growth of the worldwide construction industry. As the world's urban population rises, the demand for circular saws is projected to remain high. The renovation and remodeling sector has emerged as a key consumer of circular saw blades.
In several industrialized countries, the current housing stock is aging. Consumers therefore have a greater discretionary means to invest in home upgrades. Homeowners frequently embark on projects that involve substantial woodworking, such as kitchen makeovers, bathroom facelifts, basement finishing, deck building, and fence installation. The evolving design trends are resulting in people remodeling various aspects of their houses frequently compared to earlier.
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The table below presents a comparative assessment of the variation in the anticipated CAGR for the circular saw blade industry over the semi-annual periods spanning from the base year (2023) to the current year (2024). The examination of the compound annual growth rate showcases the shifts in the performance and divulges its revenue realization patterns.
The examination also helps businesses gain a better understanding of the industry and its growth trajectory over the period. The first half of the year, or H1, spans from January to June. The second half, H2, includes the months from July to December.
Figures provided in the table showcase the projected CAGR over the semi-annual period starting from 2024 to 2034. In the first half (H1) of 2023 to 2033, growth is estimated to surge at a CAGR of 5% followed by a noticeable spike during the second half (H2), taking the CAGR to 5.6%.
| Particular | Value CAGR |
|---|---|
| H1 | 5% (2023 to 2033) |
| H2 | 5.6% (2023 to 2033) |
| H1 | 5.2% (2024 to 2034) |
| H2 | 5.8% (2024 to 2034) |
Progressing in the following period, from H1 2024 to H2 2034, the CAGR is anticipated to fall to 5.2% in the first half (H1) and then rise considerably to 5.8% in the second half (H2). In the first half (H1), it is projected to experience an increase of 20 BPS while in the second half (H2), it is estimated to witness a slight surge of 20 BPS.
Rising Construction of Residential and Commercial Structures Boosts Demand
Rapid industrialization across the globe, especially in countries like India and China, presents immense growth potential for the circular saw blade market. The increasing population is raising the need for residential and commercial structures. Manufacturers in the industry are therefore launching novel and advanced circular saws.
Popular Mechanics, in an article, testified Bosch's GKS18V-25GC circular saw and termed it as one of the most premium saw blades with nimble precision and accuracy statistics. It boasts a factory-standard 24-tooth blade, which is likely to emerge as a popular choice in the construction and furniture industry.
High Popularity of DIY Projects is Propelling Expansion Globally
The growing popularity of do-it-yourself (DIY) projects and home repair activities is a prominent driver of the saw blade industry. As people undertake home renovations and personal projects, the demand for user-friendly and inexpensive saw blades is expected to rise. This trend is aided by the abundance of home improvement content and tools available online, which allow people to take on their projects individually.
Ryobi, among a few key players, focuses on the DIY segment by offering a range of circular saw blades that are affordable and easy to use. The company’s products are designed for non-professional users who seek reliable and cost-effective solutions for home improvement projects.
Another key player, Craftsman's Blades caters to the DIY segment with an emphasis on user-friendly designs and value for money. Its marketing strategies target homeowners and hobbyists engaged in DIY projects.
Slow Adoption of Unique Cutting Technologies Paving the Path for Expansion
The slow adoption of new cutting technology is a significant challenge for circular saw blade manufacturers. Traditional methodologies continue to dominate because of industry inertia and the perceived complexity of modern technologies. This hesitancy, however, creates an opportunity for expansion through instructional efforts.
Manufacturers and industry stakeholders are focusing on educating consumers about the benefits and ease of using contemporary cutting technologies. They are conducting workshops, seminars, and online resources that teach about the efficiency, precision, and cost-effectiveness of current cutting methods. By simplifying these technologies, stakeholders can improve consumer interest and confidence, resulting in their increased adoption.
Slow acceptance encourages producers to constantly enhance and refine cutting technologies. This iterative approach promotes innovation and expansion as consumers eventually adopt the efficiency benefits and competitive advantages provided by upgraded saw blades.
Launch of Carbide-tipped and Diamond Blades to Create Novel Opportunities
Technological developments, expanding applications, and geographical expansion are helping to drive growth in the circular saw blade market. Innovations in blade materials and designs, such as carbide-tipped and diamond blades, improve cutting performance and longevity, fulfilling the demands of a wide range of industrial and DIY applications.
The growing construction and infrastructure industries across the globe provide significant opportunities owing to the rising demand for precise and efficient cutting equipment in woodworking, metals, and masonry. The rise of DIY culture and home renovation projects is propelling expansion, as customers seek high-quality, user-friendly tools for their projects.
In 2022, Freud launched the new Premier Fusion series of circular saw blades that are designed for smooth and rapid cuts in a variety of materials. These blades use Freud's proprietary TiCo Hi-Density carbide for long life and have a unique anti-kickback design for added safety.
Rising Popularity of Diamond-coated Tools to Hinder Growth Potential
Diamond-coated tools, in recent times, have gained significant popularity over carbide-coated ones as these offer higher abrasion resistance and longer tool life. This is projected to adversely affect the demand for saw blades over the forecast year.
The high cost of diamond-coated tools, however, is a huge hurdle that manufacturers haven’t figured out how to tackle. This is a relief for carbide-coated tool manufacturers. Presently, diamond-coated tools have a minimal impact on the growth of saw blades but this may change in the coming years as prices of diamond-coated tools get competitive.
Principal Consultant
The global circular saw blade market recorded a CAGR of 2.5% during the historical period ranging from 2019 to 2023. It attained a size of USD 6,117.7 million in 2019.
The COVID-19 pandemic caused a slowdown in production and supply chain activities due to lockdowns and transport restrictions worldwide. This crisis significantly impacted the global economy, including the circular saw blade industry as it experienced a notable drop in demand in 2020.
The supply chain was adversely affected due to the pandemic. Supply capabilities, however, surged steadily from 2023 onward as lockdown restrictions eased and transport regulations relaxed.
The circular saw blade market is likely to reach a value of USD 6,409.9 million in 2024. It is projected to surge at a CAGR of 5.5% throughout the assessment period to reach a size of USD 10,936.1 million by 2034.
The demand for circular saw blades is projected to rise significantly in the coming decade. It is prominently pushed by factors such as the expansion of end-use industries, infrastructure development, and an emphasis on efficient cutting solutions. Advances in blade materials and coatings are driving up the global demand for saw blades.
The industry experienced a slight dip in demand owing to project delays and disruptions in industrial activities during the COVID-19 lockdowns. The industry, however, is expected to experience increased use of circular saw blades in critical construction and repair projects in the forecast period.
Tier 1 comprises industry leaders with annual revenue exceeding USD 500 million. These companies capture a significant share ranging from 25% to 30% globally. These frontrunners are often characterized by high production capacity and a wide product portfolio.
They are distinguished by their expertise in manufacturing and a broad geographical reach that is underpinned by a robust consumer base. These firms provide a wide range of products and utilize the latest technology to meet regulatory standards. Prominent companies within Tier 1 include Kyocera Corporation, Bosch, Makita Corp, Techtronic Industries Company, Hilti Corporation, and Hangzhou Wagen Precision Tooling Co., Ltd (Ferrotech).
Tier 2 consists of small-scale companies operating in specific locations. These enterprises are renowned in the international industries. They have a big impact on the local economy and boast a wealth of business expertise.
Tier 3 consists of medium-to small-sized companies with regional headquarters. They serve niche circular saw blade vendors with low revenue. These companies are notably oriented toward fulfilling local demands.
They have a limited geographical reach. Tier 3, within this context, is recognized as an unorganized segment, denoting a sector characterized by a lack of extensive structure and formalization compared to organized competitors.
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The section provides businesses with an overview of the industry on a country-by-country basis. It contains a detailed examination of the potential trends and opportunities. This country-specific analysis of the dynamics is likely to provide organizations with an in-depth understanding of the complex nature.
The examination comprises key factors, potential challenges, and forecasts impacting the demand, production, and consumption of the product within each country. The section aims to assist companies in making informed decisions and developing effective strategies customized to individual countries.
India is expected to emerge as a dominating country during the forecast period with an estimated CAGR of 6.4%. Japan, China, and the United States are anticipated to follow behind India to become the prominent countries with projected CAGRs of 6.1%, 5.3%, and 5%, respectively.
| Countries | CAGR 2024 to 2034 |
|---|---|
| India | 6.4% |
| Japan | 6.1% |
| China | 5.3% |
| United States | 5% |
| Germany | 4.1% |
India is projected to account for 49.9% of the value share in South Asia in 2034. The booming construction industry in the country is likely to spur demand for these saw blades. These blades are set to be used to cut wood, metal, and other materials in building and infrastructure projects.
Rising disposable income and changing consumer preferences are boosting India's furniture business. The country’s population has witnessed an increasing demand for modular furniture for their homes.
Customized and modular furniture requires high-quality, accurate cutting tools. Circular saw blades, particularly ripping saw blades, have a high demand for wood cutting and engineered wood products in the country.
The furniture industry in the country is projected to reach USD 2.02 billion by the end of 2024. Revenue is estimated to surge at a CAGR of 8.6% in the estimated period. It is further projected to reach a size of USD 3.06 billion by 2034.
The United States is projected to account for a value share of 60.4% in North America in 2034. The country is set to experience significant growth during the forecast period owing to the increasing demand for circular saw blades in residential and commercial applications. Leading manufacturers are focusing on providing a diverse product range for various applications.
For instance, Bosch USA is a specialist manufacturer of saw blades with excellent cutting performance. The company’s products are made of highly strong carbide grains for maximum endurance, as well as robust Microtech teeth with an ATB (Alternate Top Bevel) tooth geometry. The protective layer helps in avoiding corrosion and friction. The anti-vibration slots allow for smooth cutting with minimal noise and vibration, contributing to the product's ease of use.
Snap-on Inc., headquartered in Kenosha, Wisconsin, United States, manufactures, designs, and markets high-end tools and equipment for professional use in industries such as automotive, heavy-duty, and others. The company manufactures a variety of metal-cutting equipment under the legendary European Bahco brand. Its product line comprises high-performance bi-metal and carbide bandsaw blades for general purpose and other production-cutting applications.
Germany is projected to experience a CAGR of 4.1% during the forecast period. The country’s market is anticipated to experience substantial growth owing to rising reconstruction and renovation activities in Germany.
The government of Germany is rebuilding and renovating the country’s old and high-rise buildings. This activity is expected to surge sales of circular saw blades in the country.
For instance, AKE Knebel GmBH, headquartered in Germany, manufactures saw blades for all types of materials like wood and wood-based, plastic, metal, and composite materials. They are designed for suitable tools for each application and usage.
The section below offers companies with insightful data and an examination of the two leading segments. Segmentation of these categories assists businesses in gaining a better understanding of the dynamics and investing in the beneficial zones.
Analysis of the growth helps organizations attain a better understanding of the trends, opportunities, and challenges. This examination is likely to assist organizations to navigate the complex business environment and make informed decisions.
In terms of blade type, ripping saw blades are projected to lead the industry with a value share of 32.8% in 2024. Woodworking is anticipated to dominate the application segment with a value share of 56.3% in the same year.
| Segment | Ripping Saw Blade (Blade Type) |
|---|---|
| Value Share (2024) | 32.8% |
Based on product type, the ripping saw blades segment is estimated to dominate, accounting for a value share of 32.8% in 2024. Innovations in the material and design of saw blades, including carbide-tipped blades and laser-cut stabilizers have improved the performance and longevity of ripping saw blades. These developments play a crucial role in making these blades extra appealing to DIY enthusiasts, thereby increasing their demand.
The rise of DIY culture and home renovation projects, spurred partly by the COVID-19 pandemic, has increased sales of power tools and accessories, including ripping saw blades. Homeowners taking up woodworking projects desire high-quality blades that deliver clean and efficient cuts.
Woodworking is becoming popular as a hobby and a professional craft. Woodworkers require dependable and precise tools. Ripping saw blades, are, therefore, an essential component in their toolboxes.
| Segment | Woodworking (Application) |
|---|---|
| Value Share (2024) | 56.3% |
By application, the woodworking segment is projected to dominate the circular saw blade industry in the forecast period. Sales accelerated at a CAGR of 1.9% between 2019 and 2023. It is further projected to register a CAGR of 4.5% during the forecast period spanning from 2024 to 2034.
Woodworking is one of the leading uses of saw blades. The segment is projected to continue dominating the global market. This expansion is highly spurred by the growing demand for saw blades in wooden furniture and construction materials. Innovations in technology have resulted in the development of specialized saw blades for cutting several varieties of wood, thereby driving the expansion of the global circular saw blade market.
Key players in the industry include Kyocera Corporation, Bosch, Makita Corp, Techtronic Industries Company, and Hilti Corporation. They are witnessing robust growth with the increasing demand from woodworking, metalworking, and construction industries. The industry is also witnessing opportunities from the renovation and remodeling sector.
Established players have a fairly good position in the industry. Despite this, it remains highly fragmented with the presence of regional and local manufacturers. Businesses are focusing on portfolio expansion, especially in fast-growing product types to maintain their competitive edge.
The industry is dominated by several manufacturers, ranging from multinational organizations to small regional businesses. This fragmentation increases competition as enterprises vouch for market share based on product quality, performance, and pricing.
The expansion of e-commerce platforms has enhanced the accessibility of circular saw blades. Consumers can choose from a wide range of products, compare their prices and features, and make informed purchasing decisions, all from the convenience of their homes.
The rise of DIY projects has led to manufacturers introducing easy-to-use, efficient, and versatile saw blades for non-professionals taking up their home renovation. Brands are also leveraging the power of social media to showcase the use of their saw blades through tutorials.
Manufacturers are further integrating automation in the woodworking and furniture manufacturing industry to bolster growth. Integration of these technologies leads to substantial enhancement in production efficiency. Continuous optimization of saw blades is contributing to the sustained expansion of the market.
Industry Updates
Based on blade type, the industry is divided into ripping, combination, crosscut, and specialty blades.
By diameter, the industry is segregated into up to 6 inches, 7 to 12 inches, and above 12 inches.
Based on material type, the industry is segmented into high-speed steel (HSS), carbide-tipped, and others.
By sales channel, the industry is segmented into direct and indirect sales.
The product has applications in woodworking, metalworking, masonry, and others.
The industry is spread across North America, Latin America, East Asia, South Asia, Western Europe, Eastern Europe, and the Middle East and Africa.
The industry is estimated to reach USD 6,409.9 million by 2024.
The market is anticipated to reach USD 10,936.1 million by 2034.
Kyocera Corporation, Bosch, Makita Corp, Techtronic Industries Company, and Hilti Corporation are the key players.
India is estimated to dominate the industry with a CAGR of 6.4% through 2034.
Ripping saw blades, combination saw blades, and crosscut saw blades are the three types.
Saw blades with 7 to 1/4 inches diameter are likely to gain impetus.
Circular saws are picked by categorizing the diameter of their blade.
A circular saw is set to be utilized in the woodworking industry.
The industry is projected to surge at a CAGR of 5.5% from 2024 to 2034.
1. Executive Summary
2. Industry Introduction, including Taxonomy and Market Definition
3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
4. Global Market Demand Analysis 2019 to 2023 and Forecast 2024 to 2034, including Historical Analysis and Future Projections
5. Pricing Analysis
6. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034
6.1. Blade Type
6.2. Diameter
6.3. Material Type
6.4. Sales Channel
6.5. Application
7. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Blade Type
7.1. Ripping saw blades
7.2. Combination saw blades
7.3. Crosscut saw blades
7.4. Specialty blades
8. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Diameter
8.1. Up to 6 inches
8.2. 7-12 inches
8.3. above 12 inches
9. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Material Type
9.1. High-Speed Steel (HSS)
9.2. Carbide-Tipped
9.3. Others
10. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Sales Channel
10.1. Direct
10.2. Indirect
10.2.1. Online
10.2.2. Offline
11. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Application
11.1. Woodworking
11.2. Metalworking
11.3. Masonry
11.4. Others
12. Global Market Analysis 2019 to 2023 and Forecast 2024 to 2034, By Region
12.1. North America
12.2. Latin America
12.3. Western Europe
12.4. Eastern Europe
12.5. South Asia Pacific
12.6. East Asia
12.7. MEA
13. North America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
14. Latin America Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
15. Western Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
16. Eastern Europe Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
17. South Asia Pacific Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
18. East Asia Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
19. MEA Sales Analysis 2019 to 2023 and Forecast 2024 to 2034, by Key Segments and Countries
20. Sales Forecast 2024 to 2034 by Blade Type, Diameter, Material Type, Sales Channel, and Application for 30 Countries
21. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
22. Company Profile
22.1. Kyocera Corporation
22.2. Bosch
22.3. Makita Corp
22.4. Techtronic Industries Company
22.5. Hilti Corporation
22.6. Hangzhou Wagen Precision Tooling Co.,Ltd (Ferrotech)
22.7. Milwaukee Tool
22.8. Stanley Black & Decker
22.9. Metabo HPT
22.10. Amana Tool
22.11. JK Files & Engineering Limited
22.12. Freud Tools
22.13. Electrex India Ltd
22.14. Kulkarni Power Tools Ltd.
22.15. Hangzhou FUWEISI Saw Industry Co
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Circular Saw Blade Market
