Power Saw & Blade Market - Global Outlook & Forecast 2024-2029

MARKET OUTLOOK

The global power saw & blade market size was valued at USD 24.77 billion in 2023 and is expected to reach USD 34.09 billion by 2029, growing at a CAGR of 5.46% during the forecast period. The market is deeply intertwined with several key industries and factors influencing its demand and growth trajectory. Renovation of homes stands as one of the primary drivers propelling the market forward. In 2023, the saw blade segment accounted for the highest revenue due to noise reduction and material innovation. The power saw & blade market is experiencing steady growth, driven by several key factors, such as the rise in housing construction projects globally, fueling the need for efficient cutting tools for tasks such as framing, roofing, and finishing work. Infrastructure development initiatives, including road construction, bridges, and buildings, also contribute to the demand for power saws and blades. Furniture and parquet flooring production also rely heavily on precise cutting equipment, supporting the market's expansion. Alongside population growth, urbanization trends amplify the demand for housing and infrastructure, consequently driving the sales of power saws and blades. Moreover, the increasing adoption of DIY culture and renovation projects among homeowners adds to the demand from the residential sector.

The power saw is referred to as the electric motorized saw designed for cutting wood, metal, concrete, and other materials. This includes chainsaws, circular saws, and reciprocating saws, among others. These tools cater to many users, from professional contractors and carpenters to DIY enthusiasts. Key factors driving this market include ongoing construction activities, renovation projects, forestry operations, and increasing adoption of power tools in various industries. Technological advancements such as improved safety features, enhanced efficiency, and ergonomic designs contribute to market growth. Moreover, the demand for eco-friendly and energy-efficient saws is rising, prompting manufacturers to develop innovative solutions. Furthermore, the saw blade is used in various cutting applications in construction, woodworking, and metalworking industries. These blades come in various types, including circular saw blades, jigsaw blades, reciprocating saw blades, and more, each designed for specific materials and cutting techniques. Key factors driving this market include advancements in cutting technologies, increasing demand for precision cutting tools, and growth in end-user industries. Additionally, factors such as material selection, tooth design, and coating technologies play significant roles in determining the quality and effectiveness of saw blades, influencing purchasing decisions for both professional and DIY users. Also, technological advancements play a pivotal role in shaping the power saw & blade market. The advent of precision-engineered saws equipped with cutting-edge features has revolutionized the woodworking and construction industries.

MARKET TRENDS & OPPORTUNITIES

Increasing Demand for Polycrystalline Diamond (PCD) Saw Blades

The demand for polycrystalline diamond (PCD) saw blades, particularly in power saw & blade market, has significantly increased in recent years, driven by various factors that underscore their superior performance, durability, and efficiency compared to traditional saw blades. As the global population grows, the demand for wooden materials drives considerable consumption. Industries, including the furniture sector, turn to polycrystalline diamond (PCD) for machining various materials like chipboard, laminates, MDF, HDF, PVC, and CORIAN. PCD's exceptional hardness, resistance to abrasion, heat conductibility, and other properties make it a preferred choice for ensuring efficient and precise machining processes in the face of escalating demand for wooden products worldwide.

Increasing Demand for Customized Products

The driver behind the increasing demand for customization in the power saw & blade market is the rising emphasis on efficiency and precision in various industries such as construction, woodworking, and metalworking. As these industries continue to evolve and demand higher levels of accuracy and performance, there is a growing need for tools that can be tailored to specific requirements and applications. Customized power saws and blades offer users the flexibility to choose features such as blade material, tooth configuration, size, and cutting speed, allowing them to optimize performance based on their unique needs. For instance, Hangzhou Accurate International provides Thin Kerf Ripping Blade with innovative features suitable for ripping soft or hardwood, increasing yield rates, producing less swarf, and more. Furthermore, the organization provides customization in the market in terms of diameter (140 to 300), teeth number (24 to 60), kerf (1.0 to 2.0), and others. The firm gains a competitive advantage, increasing its market profitability through this.

INDUSTRY RESTRAINTS

Lack of Skilled Labour

The primary driver of the labor shortage is the rapid evolution of power saw technology itself. In recent years, materials science, engineering, and automation advancements have propelled the power saw & blade market into a new era of precision and efficiency. However, these innovations come with a steep learning curve, requiring specialized knowledge and training to harness their full potential. As such, the traditional pool of skilled laborers, already strained by retirement and attrition, struggles to keep pace with the demands of this rapidly evolving landscape. In 2023, the construction industry faced a gap of 5,00,000 skilled labor in the United States. With fewer workers available for construction projects, there may be a decrease in demand for power saws and blades since fewer projects are being undertaken or completed.

SEGMENTATION INSIGHTS

INSIGHTS BY PRODUCT

The global power saw & blade market by product is segmented into saw blade and saw. In 2023, the saw blade accounted for the highest revenue in the product segment. This dominance can be attributed to several key demand-driving factors. Moreover, saw blades are valued for their durability, ensuring longevity and reliability in various applications. Additionally, continuous technological advancements have enhanced the performance and efficiency of saw blades, further bolstering demand. In addition, efforts toward noise reduction have made saw blades more appealing in noise-sensitive environments, expanding their utility across industries.

INSIGHTS BY APPLICATIONS

The global power saw & blade market by applications is segmented into stone, wood, metal, and others. During the forecasted period, the metal segment emerges as the fastest-growing within the application segment, propelled by various demand-driving factors. Key contributors include metal fabrication and steel framing activities, which are significantly expanding. Moreover, the surge in infrastructure development projects, such as bridges, highways, and railways, amplifies the need for metal-cutting tools. This heightened demand underscores the pivotal role of metalworking tools and technologies in facilitating the growth and efficiency of construction and industrial sectors, positioning them at the forefront of the market's evolution.

INSIGHTS BY DISTRIBUTION CHANNEL

The online channel distribution channel accounted for the highest CAGR in the global power saw & blade market during the forecast period. This significant growth can be attributed to various demand-driving factors, including the wider reach facilitated by online platforms, the convenience of shopping from anywhere at any time, the ability for consumers to easily compare prices and features, access to comprehensive product information, lower distribution costs translating to competitive pricing, and the seamless purchasing process offered by online channels. These factors collectively contribute to the increasing popularity and demand for power saws and blades in the online marketplace.

GEOGRAPHICAL ANALYSIS

North America emerged as the largest revenue contributor in the global power saw & blade market, valued at over USD 6 billion in 2023. In North America, the construction sector is buoyed by investments in infrastructure projects, residential construction, and renovation activities. The housing market, particularly in the U.S. and Canada, is robust, leading to increased demand for power saws and blades for various applications such as framing, flooring, and roofing. Furthermore, the forestry and logging industry significantly impact the demand for power saws, especially in regions with extensive forestry resources, such as the Pacific Northwest in the U.S. and Canada. Power saws are indispensable for tree felling, logging, and processing wood into lumber. The need for productivity, safety, and environmental sustainability drives this sector's demand for efficient and powerful saws.

Meanwhile, the APAC region experienced the fastest growth in the global power saw & blade market due to rapid urbanization and the production of metal and stone. Government initiatives like "Make in India" further boosted industry demand for power saws and blades. Europe also stood out as a major revenue contributor in the power saw & blade market due to its sawmill industry and being the second-largest wood producer globally. In 2022, Germany alone approved 23,539 residential buildings for wood construction. Moreover, Latin America's demand-driving factors included home renovation and economic growth, with Brazil and Mexico leading as top revenue contributors in the region due to their furniture and marble production manufacturing. The Middle East, particularly countries like the UAE and Saudi Arabia, witnessed rapid urbanization and infrastructure development, leading to increased demand for power saws and blades in construction activities.

COMPETITIVE LANDSCAPE

The global power saw & blade market is highly competitive due to several factors, such as technological innovation, product quality, brand reputation, distribution channels, and companies' pricing strategies. Well-established companies in the global power saw & blade market, such as Robert Bosh, Techtronic Industries, Koki Holdings, and Stanley Black & Decker, are at the forefront of the market and have built strong brand equity over decades of delivering reliable and high-performance power tools. These companies invest heavily in research and development to introduce cutting-edge features and technologies, such as brushless motors for improved efficiency, ergonomic designs for enhanced user comfort, and advanced safety mechanisms to reduce the risk of accidents. Additionally, they maintain extensive networks of distributors and retailers, ensuring widespread availability of their products in physical stores and online marketplaces.

Vendor Activities in the Global Power Saw & Blade Market

1. In 2023, Zhejiang SALI Abrasive Technology launched the SALI cordless chain saw, with key features such as an adjustable blade from 1.2in/30mm to 0.6in/15mm for different cutting needs, a safety switch, equipped with SK5 high carbon steel blade, and others. Moreover, the organization has stringent adherence to the ISO9001 quality system, ensuring products consistently meet the highest standards. With MPA certification and compliance with EN12413 and EU safety regulations, the firm guarantees product offerings' safety and reliability. This commitment safeguards products and strengthens customer trust, driving sustainable growth and success in the industry.
2. In 2024, Hilti launched the SM 60-22 Miter Saw, with innovative features such as a compound 12" miter saw designed for precision cutting in wood, PVC, and aluminum, providing accuracy and reliability for various applications. Easily accessible controls across the entire saw make operation convenient, and a dark shadow cut line allows for quick and accurate cuts. The compact design features all-in-one front handle controls and a small footprint, eliminating the need for extra backspace and maximizing efficiency in tight workspaces.