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The report includes the market share of key vendors and market trends, providing a comprehensive overview of the industry landscape.
WILMINGTON, DE, UNITED STATES, December 27, 2024 /EINPresswire / -- The global concrete saw market , valued at $0.74 billion in 2023, is projected to reach $1.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.8% from 2024 to 2032. This growth is driven by various factors, including the increasing demand for
construction and renovation activities worldwide.
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Understanding Concrete Saws
A concrete saw is a powered device designed for cutting concrete, stone, and masonry. Safety is paramount when operating these tools, and the use of protective gear such as gloves, goggles, and dust masks is essential. Before using a concrete saw, it is crucial to thoroughly read the safety manual. These tools are used in various construction and renovation tasks, from creating precise cuts for expansion joints to forming openings in structures for doors and windows. Adhering to safety protocols not only ensures the operator's safety but also enhances the efficiency and precision of concrete cutting operations.
Market Insights for 2032
Key Takeaways of the Concrete Saw Market Report
Power Source: In 2023, the gasoline-powered segment dominated the concrete saw market in terms of revenue. However, the electric-powered segment is anticipated to grow at the fastest CAGR during the forecast period. This shift is driven by growing environmental awareness and regulatory pressures encouraging the adoption of environmentally friendly machinery. Electric saws offer lower emissions, quieter operation, and cost-effectiveness, making them a preferred choice over gasoline-powered counterparts.
Type: The walk-behind segment dominated the market share in 2023 due to its efficiency in various construction applications. Contractors and construction professionals favor walk-behind saws for their ability to handle a wide range of cutting tasks with ease and reliability, making them indispensable tools in the industry. However, hand-held saws are expected to grow at a higher CAGR during the forecast period due to increasing demand for portable and versatile cutting solutions in construction and renovation projects.
Application: The commercial segment dominated the market in 2023, driven by extensive demand from commercial construction projects that require efficient and precise concrete cutting solutions. However, the residential segment is expected to grow at a higher CAGR during the forecast period due to rising residential construction activities, renovation projects, and infrastructure development in urban and suburban areas.
Region: Asia-Pacific dominated the concrete saw market in 2023, with China leading the market size in the region. This dominance is attributed to China's robust construction industry, rapid urbanization, and extensive infrastructure development initiatives. The country's large-scale construction projects, including roads, bridges, buildings, and industrial facilities, require significant concrete cutting, driving substantial demand for concrete saws.
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Segment Overview
The concrete saw market is segmented into Power Source, Type, Application, and Region.
Power Source: The market is divided into electric-powered, gasoline-powered, and hydraulic-powered segments. In 2023, the gasoline-powered segment dominated the market in terms of revenue. However, the electric-powered segment is projected to manifest the highest CAGR during the forecast period due to growing environmental awareness and regulatory pressures.
Type: The market is classified into hand-held and walk-behind saws. In 2023, the walk-behind segment dominated the market in terms of revenue. However, hand-held saws are expected to grow at a higher CAGR during the forecast period due to increasing demand for portable and versatile cutting solutions.
Application: The market is classified into commercial, residential, and industrial applications. In 2023, the commercial application of concrete saws dominated the market in terms of revenue. However, the residential segment is expected to grow at a higher CAGR during the forecast period due to rising residential construction activities and infrastructure development.
Region: The market is analyzed across North America, Europe, Asia-Pacific, Latin America, and the Middle East and Africa. Asia-Pacific, specifically China, remains a significant participant in the concrete saw market outlook with a CAGR of 7.37% due to robust construction activities, infrastructure development projects, and stringent safety regulations.
Competitive Analysis
Major companies in the concrete saw market include Husqvarna Group, ANDREAS STIHL AG & Co. KG (STIHL Group), Makita Corporation, Hilti Corporation, Wacker Neuson SE, Norton Clipper (Saint-Gobain Abrasives), Bosch Power Tools, Milwaukee Tool (Techtronic Industries Co. Ltd.), Dewalt (Stanley Black & Decker), and TYROLIT Group. These companies have adopted various business strategies such as product launches, collaborations, and acquisitions to maintain their market share. For instance, in April 2022, Husqvarna Group's Construction Division acquired Heger, a company known for supplying professional-grade diamond tools to European contractors.
Market Dynamics
Growth in Construction Activities: The expansion of construction endeavors, including infrastructure development, residential, and commercial projects, significantly propels the concrete saw market growth. As urbanization escalates and global infrastructure needs surge, there is an amplified requirement for accurate and efficient cutting of concrete, stone, and masonry materials. Concrete saws are essential in various construction activities, including road building, structural renovations, bridge construction, and landscape design. The ongoing evolution of construction methodologies and materials demands advanced cutting solutions, driving the demand for innovative concrete saws equipped with enhanced features and technologies.
High Initial Cost: The concrete saw market encounters a challenge due to the high initial investment needed to obtain these tools. This cost deters many potential buyers, particularly smaller construction firms and individual contractors, from acquiring advanced models with modern features. Additional expenses such as accessories, maintenance tools, and safety gear contribute to this financial burden. Ongoing training and certification requirements add to the costs, especially for budget-constrained businesses. To overcome this obstacle, manufacturers and suppliers may need to explore alternatives such as offering financing options, leasing agreements, or introducing more affordable entry-level models to enhance market accessibility.
Rapid Urbanization and Population Growth in Developing Regions: The rapid urbanization and population growth in developing regions present substantial future prospects for the concrete saw market. As urbanization accelerates, construction activities surge to meet housing, infrastructure, and commercial demands, heightening the need for concrete saws. These tools are essential for various construction tasks, including road construction, building renovations, and infrastructure expansion. With urban landscapes expanding, the demand for precise cutting of concrete and masonry materials grows, driving the necessity for advanced concrete saw technologies.
Recent Developments in the Concrete Saw Industry
In January 2022, Makita launched new XGT releases spanning across trades and applications, including outdoor power equipment, concrete, fastening, and lighting. These releases were part of Makita XGT, an expanding system of 40V and 80V max cordless equipment and tools.
In June 2021, Husqvarna launched the K1 PACE cutter, offering customers a high-power battery cutter that can handle heavy-duty jobs. This was the first product launched on the company's new battery system, PACE, delivering high power and performance equivalent to petrol-powered cutters with the benefits of battery-powered equipment.
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Key Benefits for Stakeholders
This study comprises an analytical depiction of the market size along with the current concrete saw market trends and future estimations to depict the imminent investment pockets. The overall market analysis is determined to understand the profitable trends to gain a stronger foothold. The report presents information related to key drivers, restraints, and opportunities with a detailed impact analysis. The current global concrete saw market forecast is quantitatively analyzed from 2023 to 2032 to benchmark financial competency. The Porter's five forces analysis illustrates the potency of the buyers and suppliers in the concrete saw market. The report includes the market share of key vendors and market trends, providing a comprehensive overview of the industry landscape.
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