Bi-Metal Band Saw Blades Market Revenue to Cross USD 5,907.52 Mn by 2028

Cost-Effectiveness of Tools that Enable High-Performance In-House Metal Sawing is Expected to Drive the Product Demand

NEW YORK, UNITED STATES, February 1, 2022 /EINPresswire.com/ -- According to our latest market study on “Bi-Metal Band Saw Blades Market Forecast to 2028 – COVID-19 Impact and Global Analysis – by Product Type (Carbide Tipped and High Speed Steel), Application (Steel, Aluminum, Cast Iron, Non-Ferrous Material, and Others), and End-Use Industry (Automotive, Aerospace & Defense, Machine Manufacturing, and Others),’’ the market was valued at US$ 3,922.06 million in 2020 and is projected to reach US$ 5,907.52 million by 2028; it is expected to grow at a CAGR of 5.6% from 2021 to 2028.

Strategic Insights

Market Size Value in - US$ 3,922.06 million in 2020
Market Size Value by - US$ 5,907.52 million by 2028
Growth rate - CAGR of 5.6% from 2021 to 2028
Forecast Period - 2021-2028
Base Year - 2021
No. of Pages - 161
No. Tables - 83
No. of Charts & Figures - 79
Historical data available - Yes
Segments covered - Product Type, Application, and End Use Industry
Regional scope - North America; Europe; Asia Pacific; Latin America; MEA
Country scope - US, UK, Canada, Germany, France, Italy, Australia, Russia, China, Japan, South Korea, Saudi Arabia, Brazil, Argentina
Report coverage - Revenue forecast, company ranking, competitive landscape, growth factors, and trends

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Bi-metal band saw blades are made of two metal, primarily high strength steel (HSS) and spring steel. These blades are commonly used in the metalworking industries to cut cast iron; structural steel; pipelines; and non-ferrous materials such as brass, bronze, aluminium, copper, and other metals. Bi-metallic band saw blades are a cost-effective solution for a variety of metal cutting applications. The blades offer high cutting performance at High-Speeds and high output, and address production efficiency challenges. They are particularly suggested for industrial metal cutting operations on semiautomatic and automated machines. Furthermore, bi-metal band saw blades provide a number of advantages, such as better cutting performance, longer tool life, superior wear resistance, and excellent cutting-edge stability.

Rising demand from various end-user industries is propelling the market growth

Impact of COVID-19 Pandemic on Bi-Metal Band Saw Blades Market

The bi-metal band saw blade market has been negatively impacted due to the insufficient supply of raw materials such as high-speed steel tooth tips and alloy steel and disruptions in bi-metal band saw blade production processes. Bi metal band saw blade is extensively used in steel applications and several end-use industries such as automotive and machinery production. As per a survey conducted by the United Nations Industrial Development Organization (UNIDO), after the lockdown was imposed last year, production in India had stopped. In manufacturing, motor vehicles, metals, chemical products, textiles, and machinery & equipment were among the most affected industries. The COVID-19 pandemic has had a severe impact on the globally integrated automotive sector. This resulted in disruption in Chinese parts exports, the closure of assembly plants in the US, and large-scale production interruptions across Europe. The automotive industry has been witnessing declining sales of passenger cars. For instance, according to McKinsey & Company, Original equipment manufacturers (OEMs) lessened their production volumes in Europe by 16% compared with their originally planned 2020 volumes.

Consequently, vehicle sales decreased massively. In April 2020, the UK, Spain, and Italy sales were over 95% below the previous year’s levels, while Germany lost 61% and France lost 89% of new car sales compared to last year. However, the industry has started to gain momentum and is expected to witness significant growth in the coming years with the increasing sale of electric vehicles. Thus, initially the COVID-19 pandemic has had a negative impact on the growth of the global bi-metal band saw blade market; however, the market is expected to regain growth during the upcoming years.

Download the Latest COVID-19 Analysis on Bi-Metal Band Saw Blades Market Growth Research Report at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00025552/?utm_source=EINPressWire&utm_medium=10357

Bi-Metal Band Saw Blades Market: By End-Use Industry

Based on end-use industry, the bi-metal band saw blades market is segmented into automotive, aerospace & defense, machine manufacturing, and others. The machine manufacturing segment accounted for the largest market share in 2020, and the automotive segment is expected to register the highest CAGR in the market during the forecast period. The machine manufacturing segment includes manufacturers of machines that are used in the construction, food & beverages, and automation and controls industries. Rapid industrialization and urbanization, especially in developing economies, are fueling the proliferation of the construction and manufacturing industries. The growth of these industries eventually accelerates the production of heavy machinery, subsequently creating a demand for bi-metal band saw blades to cut metals and alloys. As per the China Construction Machinery Association (CCMA), in 2020, the sales of excavators and other heavy machinery sales grew by 39%, compared to the previous year, and over 300,000 units of 327,605 units were sold in that year.

Bi-Metal Band Saw Blades Market: Competitive Landscape and Key Developments

A few players operating in the bi-metal band saw blades 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.

Order a Copy of Bi-Metal Band Saw Blades Market Shares, Strategies and Forecasts 2021-2028 Research Report at https://www.theinsightpartners.com/buy/TIPRE00025552/

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