Demand for hacksaw blades is increasing considerably due to rapid growth of automobile sector, real estate, engineering sector, construction sector and industrialization. In every sector, the usage of hacksaw blades is mainly for the purpose of cutting materials such as rods, flat plates, channel and angle. The market for hacksaw blades is rising at a rapid pace along with increasing technological innovation, M&A activities and competition in the industry and several regional as well as local vendors are providing particular application tools for different end-users.
To meet the increasing demands, companies namely, Stanley, Dewalt, Blackhawk Industries, Disston, Klein Tools, Starrett, Milwaukee Hand Trucks, Apex Tool Group, CooperTools, Fein and Lenox are likely to lead the manufacturing of hacksaw blades in the forthcoming years. The latest study of Transparency Market Research has evaluated these companies as prominent players in the global market for hacksaw blades. The study forecasts a moderate growth in the demand of hacksaw blades for the valuation period, 2017-2026. Throughout this period, the global market for hacksaw blades is marked to expand at an assessed CAGR of 4.1%. The report also estimates that by 2026-end, hacksaw blades worth over US$ 1,400.9 Mn will be sold worldwide.
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Wavy Hacksaw Blade to Surpass US$ 500 Mn in Revenues by 2026
Majority of hacksaw blades tools adopted in global construction and metal industry is observed to be wavy hacksaw blades. The effectiveness of these blades throughout the heavy working processes will continue to instrument their growing adoption. By the end of 2026, nearly 37% of the overall market revenues will be accounted by global sales of wavy hacksaw blades. The report also evaluates a moderate demand for raker hacksaw blades. In 2017, raker hacksaw blades worth over US$ 300 million have been retailed in the global market for hacksaw blades.
18 TPI and 24 TPI Continue to Remain Sought-After Among End-Users
18 TPI hacksaw blades remain the highest-selling segment in the market. Their efficacy in cutting a wide range of materials, combined with their wide ranging applications across various end-use industries is likely to promote their growth during the assessment period. Collectively, 18 TPI and 24 TPI sales were valued at over US$ 600 Mn in 2017, and it is projected that these two segments will remain highly lucrative over the forecast period.
According to the report, hacksaw blades made of mild steel continue to witness higher growth than those made of aluminum and brass. The demand for hacksaw blades made from mild steel was valued at worth US$ 465 Mn in 2017. It is projected that mild steel will continue to be the leading material type during the assessment period, whereas hacksaw blades made of brass are likely to be the second highest selling material type in the market.
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The report further projects that manual hacksaw blades account for a higher revenue share than electric hacksaw blades. Low cost and familiarity of workers with manual hacksaw blades are the key factors driving adoption of manual hacksaw blades. However, efficacy and ease of use are driving adoption of electric hacksaw blades. The report projects electric hacksaw blades to grow at a higher CAGR than manual hacksaw blades during the assessment period.
Europe and North America are the two largest markets for hacksaw blades globally. Collectively, these two regions account for over US$ 677 Mn in revenues. The demand for hacksaw blades in Europe is likely to remain concentrated in EU5, whereas US accounts for majority revenue share in North America.
Overall, the outlook on the global hacksaw blades market remains positive, with Europe and North America likely to create lucrative growth opportunities for manufacturers. Shift from manual to electric hacksaw blades is likely to gain momentum during the assessment period.