Circular Saw Blade Market Forecast 2023 - 2030

By Type :

The type segment is categorized into crosscut saw blades, ripping saw blades, combination saw blades, diamond saw blade, and others. In 2022, the combination saw segment accounted for the highest market share in the circular saw blade market. The ability of combination blades to provide effective chip clearance and deep cuts without frequent blade change is expected to drive the demand for combination saw blades. In addition, the combination blades offer integration of rip and crosscuts with large gullets that are deployed to cut plastics, metals, and wood effectively. For instance, Dimar Tooling, headquartered at Germany, offers a Combination Multipurpose Cut Saw Blade, that is used to cut plastics, solid surface materials, and aluminum composites. Therefore, the rising demand for these tools due to their high operational life and efficiency is contributing to segment growth.

Furthermore, the crosscut saw blades segment is expected to register the fastest CAGR over the forecast period. The capability of crosscut blades to make the cutting process easier owing to the kerfed teeth present in blades that give a smooth, safe, and clean finish is anticipated increase the demand for crosscut saw blades. The rising need for functional saw blades from various end-use industries such as automotive and construction to get a smoother cut finish is expected to drive market growth over the forecast period.

By Blade Diameter :

The blade diameter segment is categorized as 5-1/2 inches, 7-1/4 inches, and others. In 2022, the 7-1/4 inches segment accounted for the highest share of 52.45% in the circular saw market in 2022. The wide adoption of circular saw blade consisting blades of 7-1/4 diameter to cut thick plywood, iron plates lumbers, among others is driving the demand for such blades in the wood and metal industry. For instance, M. K. Morse, a global manufacturer of saw blades and power tool accessories, offers 14" CSM14MB that has a 7-1/4 blade diameter for wood and metal cutting purposes. Therefore, the rising adoption of such blades to attain high functionality is further required by various end use industries such as building & construction, metal, and wood is propelling the market growth.

However, the 5-1/2 segment is expected to witness the fastest CAGR in the circular saw blade market over the forecast period. The extensive application of circular saw blade of 5-1/2 diameter due to the small size and ability to put less stress on the saw motor is anticipated to drive the demand for such blades in complex cutting applications including aesthetic furniture. Hence, the rising furniture industry due to increasing remodeling and renovation activities is projected to drive the segment growth.

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By Application :

The application segment is categorized into wood cutting, metal cutting, steel cutting, stone cutting, and others. In 2022, the wood cutting segment held the highest market share. The increasing home renovation and remodeling activities to revamp the space and make them more functional and beautiful is driving the growth of the wood industry that proliferates the demand for circular saw blade. For instance, according to the report published by Forest Research, in UK, the wood products imported in 2021 were valued at USD 10.7 billion. Therefore, the rising consumption of wood in various end use industries such as furniture and building & construction is contributing to the segment growth.

However, the metal cutting segment is expected to witness the fastest CAGR in the circular saw blade market during the forecast period, owing to the growing automotive industry. In addition, the shifting trend for the adoption of electric vehicles is anticipated to surge the demand for circular saw blades in the automotive industry, in turn, accelerating the segment growth.

By Region :

The regional segment includes North America, Europe, Asia Pacific, the Middle East and Africa, and Latin America.

In 2022, North America accounted for the highest market share at 39.75% and was valued at USD 4,110.55 million, and is expected to reach USD 5,823.05 million in 2030. In North America, the U.S. accounted for the highest market share of 67.05% during the base year of 2022. The presence of various major manufacturers in the region such as Simonds International, M.K. Morse, and Stanley Black & Decker, among others, is expected to drive the revenue growth of the circular saw blade market in the region. In addition, the growing automotive and construction industries is another significant factor propelling the market growth.

However, Asia Pacific is expected to register the fastest CAGR in the market during the forecast period. The increasing investments in the automotive sector due to the growing demand of automobiles in the region is expected to surge the need for circular saw blade. For instance, in April 2023, Volkswagen invested USD 1.1 billion in the electric car business and development center in China. Additionally, the growing construction industry owing to the significant rise in commercial and residential infrastructure is expected to propel the circular saw blades market.