LONDON--(BUSINESS WIRE)--Technavio’s latest report on the global saw blades market provides an analysis of the most important trends expected to impact the market outlook from 2017-2021. Technavio defines an emerging trend as a factor that has the potential to significantly impact the market and contribute to its growth or decline.
The competitive nature of the market is expected to intensify during the forecast period due to the presence of many global and regional players. The regional players of countries such as China and India are benefitted owing to easy availability of the raw materials and low labor cost. This has helped these vendors gain a competitive advantage over their international counterparts. Such tensed market atmosphere will push regional and global saw blades manufacturers to put innovation at the helm of development.
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- Growing demand for furniture
- Increased commercial construction
- Growth in metal fabrication industry
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Growing demand for furniture
“Saw blades are extensively used in furniture manufacturing for cutting and shaping of wood. Wood is used in almost all kind of furniture such as doors, interiors, etc. Increasing disposable income and the bandwagon effect are creating demand for fancy interiors, which, in turn, is creating demand for furniture,” says Anju Ajay Kumar, a lead analyst at Technavio for research on tools and components.
The US has witnessed an increase in imports for furniture mainly because of the increased construction activities in the region in 2015. China, too, happens to have a significant share in the export market for furniture in the US. Increased imports and demand for furniture will have a significant impact on the global saw blades market.
Increased commercial construction
“Rapid urbanization and economic growth have led to an increased construction of malls, hospitals, commercial buildings, hotels, and manufacturing facilities. The expansion of commercial spaces and the demand for new office space, special economic zones, corporate hubs, and retail outlets have been driving the demand for construction tools such as saw blades,” adds Anju.
Infrastructure activities across emerging economies such as India have improved. Efficient and faster transit systems such as metro rail networks are being constructed in Indian cities, including Lucknow, Jaipur, Bangalore, and Hyderabad. These projects are expected to create a demand for construction equipment such as saw blades.
Growth in metal fabrication industry
Metal saw blades are used for core manufacturing applications such as cutting, assembling, and grinding of various metals that are further used to produce machines and structures. Saw blades are used in the metal fabrication industry for various purpose. Some of the most common applications include their use for cutting solid materials, heavy wall tubing, structural shapes, bundle cutting, and cutting of hard alloys.
APAC happens to be the base for many emerging economies, driven by the expansion of industrial and manufacturing sector, leading to increased demand for metal fabrication in the region. Countries such as China, India, and Vietnam are increasing expenditure on infrastructural development.
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