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Power Cutter Market Size, Share, Trends Analysis Report by End-user (Industrial (Construction, Aerospace, Automotive, Ship Building, Energy, and Electronics) Residential, and Commercial), Ring Cutter (Ring and Chain), Fuel Type (Battery-Powered, Electronic-Powered, Pneumatic-Powered, Gas-Powered, and Hydraulic-Powered), and Geography (APAC, North America, Europe, Latin America, and the Middle East & Africa), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020–2025
|Market Size (Revenue)||USD 7 BILLION (2025)|
|Market Size (Volume)||5.2 MILLION UNITS (2025)|
|Market Segments||End-user (Industrial (Construction, Aerospace, Automotive, Ship building, Energy, and Electronics) Residential, and Commercial), Ring Cutter (Ring and Chain), Fuel Type (Battery-Powered, Electric-Powered, Pneumatic-Powered, Gas-Powered, and Hydraulic-Powered)|
|Geographic Analysis||North America, Europe, APAC, Latin America, and Middle East & Africa|
|Countries Covered||US, Canada, UK, Germany, France, Italy, Spain, China, Japan, South Korea, India, Australia, Brazil, Mexico, South Africa, UAE, and Saudi Arabia|
The global power cutter market size to cross USD 7 billion by 2025, growing at a CAGR of 5% during the forecast period. The global power cutter market is expected to witness steady growth during the forecast period. Increasing industrialization across the world and the growing application in household and commercial sectors are primarily driving the industry. Power cutters are primarily used in industries such as automobile, aerospace, construction, electronics, and shipbuilding. They are also having several household applications, which include removing of paint, soldering of wire, thawing of pipes, and other DIY projects. The growth in Li-ion battery along with the rise in infrastructural developments has paved way for the growth in demand for cutting tools.
The global power tool accessories market suffered a downfall during the COVID-19 crisis as most economic activities were halted during Q1 and Q2 2020. Most major revenue-generating end-users such as construction, automotive, commercial renovation, and home improvement activities were affected, leading to a decline in the sale of power tools and associated accessories. Despite operational efforts from certain major vendors with high restrictions, supply chain disturbances and distribution through retail and e-commerce sites have been highly challenging for vendors to function optimally during the pandemic.
This research report includes a detailed segmentation by
The industrial end-user segment was the largest revenue contributor to the market in 2019 and is more likely to remain dominant throughout the forecast period. Rising pressure on the global manufacturing sector to increase production volume and maintain quality standards is necessitating effective cutting tools. Moreover, the dynamic requirements precision cutting can enhance the demand for the power cutters during the forecast period.
Power cutters are widely used in the commercial sector for metal cutting, maintenance, and repair works. The growth of commercial construction activities is witnessing growth as organizations are expanding their footprint and manufacturing plants in developed and developing countries, thereby increasing the scope of power cutter tools. Furthermore, the increase in retrofit tasks in several developing countries such India is increasingly influencing the market growth. The commercial power cutter market is expected to reach USD 1.3 billion by 2025.
The gas-powered cutters dominated the global market with its 42% market share in terms of revenue in 2019. The increasing demand for construction and automotive industry will help this segment to gain some market share during the forecast period. The other segments will grow owing to the growing demand for eco-friendly power cutters during the forecast period. Factors such as storage, portability, performance, and safety are usually the deciding factors for choosing power cutters.
The growth in the global construction sector drives the market growth of hydraulic equipment. Rapid industrialization, coupled with the increase in infrastructural spending, fuels the demand for these devices. A surge in demand for material handling equipment in industries such as oil & gas, marine, automotive, and others, is expected to offer lucrative growth opportunities for the key players during the forecast period. However, the higher cost of hydraulic cylinders than pneumatic ones is expected to hamper the market growth.
The battery powered segment is expected to witness a steady growth during the forecast period. Increasing industrialization across the world and the growing application in household and commercial sectors are primarily driving the battery-powered segment. They are primarily used in industries such as, automobile, aerospace, construction, electronics, shipbuilding. The growth in Li-ion battery along with the rise in infrastructural developments have paved way for the growth in demand for the power cutter.
Ring cutters are used to cut materials such as wood, masonry, plastic, or metal. They are commonly powered by electricity; however, they are also powered by a gasoline engine or a hydraulic motor, which allows them to be fastened to heavy equipment, eliminating the need for a separate energy source. Cordless circular power cutters are increasing in adoption as they are convenient to use, and they work well in confined spaces. Cordless saws are best suited to cutting wood and wood products.
Power cutters help in cutting ice, felling tree, bucking, pruning, and cutting firebreaks in wildland fire suppression, harvesting of firewood, and cutting concrete during construction developments. Gasoline-powered chain power cutters expose operators to harmful carbon monoxide (CO) gas, especially indoors. This is expected to hinder the growth of the market in developing and underdeveloped counties due to the lack of proper guidelines and safety measures. Hence, stringency in environmental regulations is expected to hamper the growth of gasoline-powered chain cutters.
With the surge of Li-ion battery technology, which is expected to grow at a CAGR of over 9% during 2019–2024, the North American power cutter industry is expected to grow.The growth in the US cutting tool market has been about 1.5% annually for the last five years — approximately in line with GDP. The industry has begun to expand during the same period, with cutting-tool firms carrying out more than 200 mergers and acquisitions, accounting for more than $4 billion in sales since 2000. The prevalence of DIY culture is still prevalent in North America. Cutting power tools continue to use in domestic application, including maintenance, paint scrapping, and several other tasks. With growing technical innovations and rising people's buying power, the North American power cutter market is projected to expand significantly in residential, commercial, and industrial sectors during the forecast period. However, the APAC region is expected to grow at the highest CAGR during the forecast period. Owing to the increase in urban spaces, coupled with the rising robust construction activities, is expected to drive the APAC market. The APAC construction market is expected to grow at a phenomenal rate till 2021.
The global power cutter market is characterized by low market concentration, with high competition among players. The present scenario is driving vendors to alter and refine their unique value proposition to achieve a strong market presence. Currently, the industry is moderately fragmented and is dominated by vendors such as Stanley Black & Decker, Bosch and TTI. All these major vendors have a global presence in three major geographical regions: North America, APAC, and Europe.
Segmentation by Fuel Type
By Ring Cutter
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