In-depth Analysis and Data-driven Insights on the Impact of COVID-19 Included in this Global Power Cutter Market Report
The global power cutter market by revenue is expected to grow at a CAGR of over 5% during the period 2019–2025.
The global power cutter market is expected to witness steady growth during the forecast period. Increasing industrialization across the world and the growing application in household and commercial sectors are primarily driving the industry. Power cutters are primarily used in industries such as automobile, aerospace, construction, electronics, and shipbuilding. They are also having several household applications, which include removing of paint, soldering of wire, thawing of pipes, and other DIY projects. The growth in Li-ion battery along with the rise in infrastructural developments has paved way for the growth in demand for cutting tools.
The following factors are likely to contribute to the growth of the power cutter market during the forecast period:
- Increased Manufacturing in Developing Countries
- High Demand for Precision Cutting
- Exponential Growth in the Automotive Industry
The study considers the present scenario of the power cutter market and its market dynamics for the period 2019_2025. It covers a detailed overview of several market growth enablers, restraints, and trends. The report offers both the demand and supply aspect of the market. It profiles and examines leading companies and other prominent ones operating in the market.
Global Power Cutter Market Segmentation
This research report includes a detailed segmentation by End-user, Fuel Type, Ring Cutter, Geography. The industrial end-user segment was the largest revenue contributor to the market in 2019 and is more likely to remain dominant throughout the forecast period. Rising pressure on the global manufacturing sector to increase production volume and maintain quality standards is necessitating effective cutting tools. Moreover, the dynamic requirements precision cutting can enhance the demand for the power cutters during the forecast period.
The gas-powered cutters dominated the global market with its 42% market share in terms of revenue in 2019. The increasing demand for construction and automotive industry will help this segment to gain some market share during the forecast period. The other segments will grow owing to the growing demand for eco-friendly power cutters during the forecast period. Factors such as storage, portability, performance, and safety are usually the deciding factors for choosing power cutters.
Ring cutters are used to cut materials such as wood, masonry, plastic, or metal. They are commonly powered by electricity; however, they are also powered by a gasoline engine or a hydraulic motor, which allows them to be fastened to heavy equipment, eliminating the need for a separate energy source. Cordless circular power cutters are increasing in adoption as they are convenient to use, and they work well in confined spaces. Cordless saws are best suited to cutting wood and wood products.
By Fuel Type
By Ring Cutter
o Ship building
Insights by Geography
With the surge of Li-ion battery technology, which is expected to grow at a CAGR of over 9% during 2019–2024, the North American power cutter industry is expected to grow.The growth in the US cutting tool market has been about 1.5% annually for the last five years ? approximately in line with GDP. The industry has begun to expand during the same period, with cutting-tool firms carrying out more than 200 mergers and acquisitions, accounting for more than $4 billion in sales since 2000. The prevalence of DIY culture is still prevalent in North America. Cutting power tools continue to use in domestic application, including maintenance, paint scrapping, and several other tasks. With growing technical innovations and rising people’s buying power, the North American power cutter market is projected to expand significantly in residential, commercial, and industrial sectors during the forecast period. However, the APAC region is expected to grow at the highest CAGR during the forecast period. Owing to the increase in urban spaces, coupled with the rising robust construction activities, is expected to drive the APAC market. The APAC construction market is expected to grow at a phenomenal rate till 2021.
- North America
o South Korea
- Latin America
- Middle East & Africa
o Saudi Arabia
o South Africa
INSIGHTS BY VENDORS
The global power cutter market is characterized by low market concentration, with high competition among players. The present scenario is driving vendors to alter and refine their unique value proposition to achieve a strong market presence. Currently, the industry is moderately fragmented and is dominated by vendors such as Stanley Black & Decker, Bosch and TTI. All these major vendors have a global presence in three major geographical regions: North America, APAC, and Europe.
- Braun Maschinenfabrik
- Bosch Tools
- Stanley Black & Decker
Other Prominent Vendors
- Ferm International
- Apex Tool Group
- Atlas Copco
- CUMI (Carborundum Universal India Ltd)
- Spartech Construction Equipments
- Akshar Industries
- Taizhou NAIBO
- ARM Sangyo
- Koki Holding
- MARUYAMA MFG
- Reed Manufacturing
- B. M. Tools Centre
- Jepson Power Inc.
- SNA Europe
- Texas Curb Cut
Key Questions Answered
1. What is the power cutter market size and growth rate during the forecast period?
2. What are the factors impacting the growth of the power cutter market shares?
3. What is the growth of the Asia Pacific power cutter market share during the forecast period?
4. Who are the leading vendors and what are their market shares?
5. What is the impact of COVID-19 in the power cutter market share?