Hacksaw Blades Market Research, 2031
The hacksaw blades market size 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 a fine-tooth saw with a blade under tension in a frame, used for cutting materials such as metal, wood, and plastic. The hacksaw blades are made of nitrated steel, cast iron, aluminum brass, and stainless steel. The teeth on the hacksaw blades are the key cutting elements. The hacksaw blades are available in 10 TPI, 14 TPI, 18TPI, 24 TPI, and 32 TPI range. These blades are used by professionals for cutting activities in wood & metal industries and by DIY customers. These hacksaw are manually operated as well as electrically operated.
Market Dynamics
The major driving factor of the global market is rise in utilization of hacksaw blades in the process of sawmill manufacturing. In addition, surge in demand for furniture and increase in usage of hacksaw blades in the sawmill production where it used to cut & shape wood are expected to contribute toward the hacksaw blades market growth.
Moreover, rapid industrialization coupled with increase in infrastructural spending leads to construction of new residential and commercial infrastructure where new furniture and cabinets are being used, which, in turn, propels the market growth. However, laser cutting technology and water cutting technology are technologically advanced, consume lower time & power compared to tradition hacksaws, and can achieve cutting complex shapes. Therefore, laser cutting technology and water cutting technology are being rapidly adopted in manufacturing industries is the past few years, which significantly hampers the hacksaw blades market share.
Furthermore, during the outbreak of the COVID-19 pandemic, construction, manufacturing, hotel, and tourism industries were majorly affected. Manufacturing activities were halted or restricted. Construction and transportation activities, along with their supply chains, were hampered on a global level. This led to decline in manufacturing of hacksaw blades as well as their demand in the market, thereby restraining the growth of the hacksaw blades market. Conversely, industries are gradually resuming their regular manufacturing and services. This led to re-initiation of hacksaw blades companies at their full-scale capacities, which helped the market to recover by end of 2021.
On the contrary, increase in adoption of machinery and equipment in the manufacturing sector, majorly in the developing countries such as China, India, and Brazil, is anticipated to open new avenues for the hacksaw blades market during the forecast period.
The hacksaw blades market report is segmented into Consumer type, Threads per inch and Application. On the basis of consumer type, the market is bifurcated into DIY and professionals. Depending on 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, it 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).
On the basis of consumer type, in 2021, the professionals segment dominated the market, in terms of revenue, whereas the DIY segment is expected to witness growth at the highest CAGR during the forecast period. As per thread per inch, in 2021, the others segment led the hacksaw blades market, however, the 14 TPI segment is expected to exhibit highest CAGR in the near future. By application, the manual hacksaw segment led the market in 2021, in terms of revenue; however, the electric hacksaw segment is anticipated to register highest CAGR during the forecast period. Region wise, Asia-Pacific garnered the highest revenue in 2021; however, LAMEA is anticipated to register highest CAGR during the forecast period.
Competition analysis
The major players profiled in the hacksaw blades market overview includes 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 industry.
Key Benefits For Stakeholders
This report provides a quantitative analysis of the market segments, current trends, estimations, and dynamics of the hacksaw blades market analysis from 2021 to 2031 to identify the prevailing hacksaw blades market opportunities.
The market research is offered along with information related to key drivers, restraints, and opportunities.
- Porter's five forces analysis highlights the potency of buyers and suppliers to enable stakeholders make profit-oriented business decisions and strengthen their supplier-buyer network.
- In-depth analysis of the hacksaw blades market forecast from 2022 to 2031.
- Major countries in each region are mapped according to their revenue contribution to the global market.
- Market player positioning facilitates benchmarking and provides a clear understanding of the present position of the market players.
- The report includes the analysis of the regional as well as global hacksaw blades market trends, key players, market segments, application areas, and market growth strategies.
Hacksaw Blades Market Report Highlights
| Aspects | Details |
 Market Size By 2031 | USD 1.7 billion |
 Growth Rate | CAGR of 4.7% |
 Forecast period | 2021 - 2031 |
 Report Pages | 240 |
 By Consumer type |
|
 By Threads per inch |
|
 By Application |
|
 By Region |
|
 Key Market Players | GEDORE Werkzeugfabrik GmbH & Co. KG, Klein Tools, Inc., Thomas Flinn & Co., Apex Tool Group, LLC, Chronos, Stanley Black & Decker, Inc., DISSTON COMPANY, HABUR-SAWS GmbH, Snap-On Incorporated, Starrett |
Analyst Review
The hacksaw blades market was valued at $1,043.9 million in 2021, and is projected to reach $1,667.1 million by 2031, registering a CAGR of 4.7% from 2022 to 2031. The growth of the hacksaw blades market is majorly driven by rise in utilization of hacksaw blades in the process of sawmill manufacturing and rapid industrialization coupled with increase in infrastructural spending majorly in the developing countries such as China, India and Brazil.
However, availability of superior cutting technology such as laser cutting technology and water cutting technology act as a major restraint of the hacksaw blades market. On the contrary, growth in production of machinery and equipment in the manufacturing sector is expected to create opportunities for growth of the hacksaw blades market during the forecast period. Major companies in the market have adopted strategies such as product launch and business expansion to offer better services to customers in the hacksaw blades market.
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.
The forecast period considered for the global hacksaw blades market is 2022 to 2031, wherein, 2021 is the base year, 2022 is the estimated year, and 2031 is the forecast year.
The latest version of global hacksaw blades market report can be obtained on demand from the website.
The base year considered in the global hacksaw blades market report is 2021.
The top companies holding the market share in the global hacksaw blades market report 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.
The top ten market players are selected based on two key attributes - competitive strength and market positioning.
The report contains an exclusive company profile section, where leading companies in the market are profiled. These profiles typically cover company overview, geographical presence, market dominance (in terms of revenue and volume sales), various strategies and recent developments.
By consumer type, the professionals segment is the highest share holder of hacksaw blades market.
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