New York, Nov. 04, 2021 (GLOBE NEWSWIRE) — Bimetal Bandsaw Blades Market: Key Insights
According to our new research study on Bi-Metal Bandsaw Blades Market Size, Share, Revenue, Forecast to 2028 – Impact of COVID-19 and Global Analysis by Product Type (Carbide Tipped Steel and High Speed Steel); Application (steel, aluminum, cast iron, non-ferrous materials and others); and end-use industry (automotive, aerospace and defense, machinery manufacturing and others).
|Market size Value in||US$3,922.06 million in 2020|
|Market Size Value by||$5,907.52 million by 2028|
|Rate of growth||CAGR of 5.6% from 2021 to 2028|
|Number of pages||161|
|Number of tables||83|
|Number of graphs and figures||79|
|Historical data available||Yes|
|Segments Covered||Product type, application and end-use sector|
|Regional scope||North America; Europe; Asia Pacific; Latin America; AEM|
|Country Scope||United States, United Kingdom, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina|
|Report cover||Revenue Forecast, Business Ranking, Competitive Landscape, Growth Factors and Trends|
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Bimetal Bandsaw Blades Market: Competitive Landscape and Key Developments
Some of the players operating in the market are Bichamp Cutting Technology Co (hunan)., Ltd., Dalian Special Steel Products Co., Ltd., Eberle, Hakansson Saws India Pvt. Ltd., Lenox, Starrett, Wikus-sagenfabrik, Benxi Tools Group, Bahco and Amada Machine Tools Co., Ltd. In 2020, Bichamp Cutting Technology (Hunan) Co., Ltd designed and introduced saw blade for aluminum with the cooperation of China Aluminum Association. The product consists of four width specifications of 34mm, 41mm, 54mm and 80mm.
Bi-metal bandsaw blades are used to cut metals such as steel, aluminum, cast iron and non-ferrous materials in various industries such as machinery manufacturing, automotive, aerospace and defense , metal fabrication, among others. These blades are suitable for semi-automatic and fully automatic bandsaws. They are made of high speed steel and carbide and are an economical alternative to expensive precision and metal cutting equipment. The growing demand for bi-metal bandsaws for the manufacture of industrial equipment, automotive components, aircraft and defense equipment due to the ability of bi-metal bandsaw blades to cut harder metals by optimizing the cost and quality of cuts is mainly driving the growth of the market. Moreover, the increasing use of technologically advanced metal cutting equipment in machine shops is also expected to potentially boost the market growth over the forecast period.
Market opportunities for innovative products:
Bandsaw blade manufacturers are focused on developing new products that deliver high quality cuts in different metal cutting applications. The product innovation strategy is mainly focused on improving the performance and durability of blades for high-precision metal cutting. Intense competition in the metal machining market has been one of the major factors driving manufacturers to adopt a strategy of product innovation. Simonds Saw, LLC, a leading US-based manufacturer of bandsaw products and hand files, has launched a new line of bi-metal bandsaw blades designed with the specialized depth to meet all metal cutting applications, including general purpose. cutting, production cutting, structural steel cutting and tough exotic alloy cutting. Thus, the increasing development of new products with improved performance is expected to provide significant product and customer base expansion opportunities for market players in the coming years.
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Bimetal Bandsaw Blades Market: Segmental Overview
The Machinery Manufacturing segment includes manufacturers of machinery used in the construction, food and beverage, automation and controls industries. Rapid industrialization and urbanization, especially in developing economies, is fueling the proliferation of construction and manufacturing industries. The growth of these industries eventually accelerated the production of heavy machinery, subsequently creating a demand for bi-metal bandsaw blades for cutting metals and alloys.
Impact of COVID-19 on the Bimetal Bandsaw Blades Market:
The bi-metal bandsaw blades market has been negatively impacted due to insufficient supply of raw materials such as high speed steel and alloy steel tooth tips and disruptions in the production processes of bandsaw blades. bimetal tape. The bi-metal bandsaw blade is widely used in steelmaking applications and in several end-use industries such as automotive and machinery production. According to a survey conducted by the United Nations Industrial Development Organization (UNIDO), after the imposition of the lockdown last year, production in India had come to a halt. In manufacturing, motor vehicles, metals, chemicals, textiles, and machinery and equipment were among the hardest hit industries. The COVID-19 pandemic has had a severe impact on the integrated automotive sector globally. This led to a disruption of Chinese parts exports, the closure of assembly plants in the United States and large-scale production disruptions across Europe. The auto industry has seen a decline in passenger car sales. For example, according to McKinsey & Company, original equipment manufacturers (OEMs) have reduced their production volumes in Europe by 16% from their originally planned volumes for 2020.
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Key Questions To Ask For Bi-Metal Bandsaw Blades Market:
- Can you list some of the major players operating in the global bi-metal bandsaw blades market?
- During the forecast period, which region is expected to account for the largest share of the global Bimetal Bandsaw Blades market?
- Based on the end-use industry, why the machinery manufacturing segment accounted for the largest share of the global bi-metal bandsaw blades market?
- Which application segment dominated the global bimetal bandsaw blades market in 2020?
- Based on product type, which segment is experiencing the fastest growth in the global bi-metal bandsaw blades market?
- What is the key driver driving the growth of the Global Bi-Metal Bandsaw Blades Market?
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