PUBLISHER: Allied Market Research | PRODUCT CODE: 1193042
PUBLISHER: Allied Market Research | PRODUCT CODE: 1193042
The hacksaw blades market was valued at $1,043.9 million in 2021, and is expected to reach $ 1,667.1 million by 2031, registering a CAGR of 4.7% from 2021 to 2031. A hacksaw is an equipment used for cutting materials such as metal, wood, and plastic. The hacksaw consists of a blade with fine-tooth saw that is attached in a frame with under tension. The teeth on the hacksaw blades are the major cutting elements on the blades. The hacksaw blades are available in 10 TPI, 14 TPI, 18TPI, 24 TPI, and 32 TPI range, which indicate the number of teeth per inch of the blades. The hacksaw blades are made of nitrated steel, cast iron, aluminum brass, and stainless steel. These hacksaws are manually operated as well as electrically operated. The hacksaw blades are used by professionals for cutting activities in wood and metal industries as well as DIY customers.
The growth of the hacksaw blades market is majorly driven by rapid industrialization and increase in infrastructural spending in emerging countries. This further led to increase in investment on tools and machines. This, in turn, led to increased requirement of hacksaw blades in the market. For instance, in February 2022, the U.S. President Joe Biden has sanctioned around million $450 through (PIDP) Port Infrastructure Development Program to expand capacity of port and improve the logistics and goods movement of the port. These instances are expected to increase demand of hacksaw blade. In addition, construction of new residential and nonresidential infrastructure has led to rise in demand for wood and metals, which utilize hacksaw blades in manufacturing process.
However, laser cutting and water cutting methods are superior in technology as well as accuracy and they take less time for carrying out complex cutting operations and have a low maintenance cost. Thus, these factors act as the major restraints of the global hacksaw blades market. However, countries such as China, India, and Brazil, are rapidly developing, which will further lead to surge in demand for machinery and equipment such as hacksaws and their blades in the manufacturing sector, which is anticipated to offer remunerative opportunities for the expansion of the hacksaw blades market during the forecast period.
The global hacksaw blades market is segmented into consumer type, thread per inch, application, and region. By consumer type, the market is bifurcated into DIY and professionals. On the basis of thread per inch, it is segregated 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).
Competition analysis
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.
Key Benefits For Stakeholders
By Consumer type
By Threads per inch
By Application
By Region