Global demand for hacksaw blades continues to be influenced by a range of broader and industry-specific factors. On a broader level, resurgence in the construction sector and steady recovery of industrial sector in major economies is creating growth opportunities. Affordability and easy availability of hacksaw blades continue to ramp up adoption in key industries, whereas highly fragmented nature of the marketplace continues to pose challenges for manufacturers.
Overall, the outlook on global hacksaw blades market is positive, and it is projected that demand will continue to grow at a steady pace during the assessment period. Hacksaw blades have traditionally been used across a range of end-use industries, and steady demand from these sources is likely to provide an impetus to growth during the assessment period. Hacksaw blades remain an efficient tool for carrying out basic and slightly complex cutting tasks, and their affordability and cost-effectiveness make then an appealing option, especially in small- and medium-scale industries.
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The broader trends pertaining to use of advanced equipment in end-use industries is also influencing the hacksaw blades industry. A significant percentage of end-users are making the transition from manual hacksaw blades to electric hacksaw blades. In a bid to cater to the evolving demand, manufacturers are focusing on broadening their product portfolio, and incorporating electric hacksaw blades in their offerings. It is highly likely that demand for electric hacksaw blades will grow at higher rate vis-à-vis manual hacksaw blades during the assessment period. In addition to rising preference for electric hacksaw blades, manufacturers are also focusing on reducing the limitations of manual blades, including fast blunting and teeth breaking.
Macroeconomic factors have a significant impact on the demand for hacksaw blades. Economic slowdown and sluggishness in industrial growth have a limiting impact on the growth of the market. In addition to macroeconomic factors, limitations of hacksaw blades, such as fast blunting and teeth breaking continue to pose challenges for both end-users and manufacturers. Manufacturers are focusing on addressing these challenges, however, the current demand is impacted due to these impediments.
Bimetal Hand Hacksaw Blades Likely To Gain Traction in the Forthcoming Years
Bimetal hand hacksaw blades are known mainly for their flexible features. Manufacturers are seen to increase the manufacturing of these tools due to its increasing demand especially amongst the residential sectors, due to their faster cutting quality. These blades are advancing with special variable TPIs. Apart from this, leading manufacturers are stepping up their efforts in offering highly acclaimed tools in order to experience accurate dimensions and superior cutting performance. However, the increasing demand for 18 TPI hacksaw blades will continue to remain dominant during the forecast period.
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Hacksaw blades manufacturers, namely, Fein and Lenox, Apex Tool Group, Starrett, Disston, Dewalt, CooperTools, Milwaukee Hand Trucks, Klein Tools, Blackhawk Industries and Stanley are profiled as the significant players in global hacksaw blades market. These companies will be actively working in the global production of hacksaw blades during the forecast period. Considering the structure of customer needs and assessing the reason behind lack of performance of the tools will be the strategic factors impelling product development amongst these players.
On account of evolving end-user demand, power hacksaws are steadily gaining traction in the market. Manufacturers are focusing on advancing the performance of power hacksaw blades, and spending on innovation is likely to gain momentum during the assessment period.