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.
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.
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.
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.
Key Topics Covered:
1 Research Methodology
2 Research Objectives
3 Research Process
4 Scope & Coverage
4.1 Market Definition
4.2 Base Year
4.3 Scope Of The Study
4.4 Market Segmentation
5 Report Assumptions & Caveats
5.1 Key Caveats
5.2 Currency Conversion
5.3 Market Derivation
6 Market at a Glance
7.1 Covid-19 Impact
7.2 Covid-19 Impact On Global Trade
7.3 Covid-19 Impact On Power Tools
8 Market Opportunities & Trends
8.1 Increased Manufacturing In Developing Countries
8.2 Increase In Demand For Precision Cutting
8.3 Increased Construction In Developing Countries
8.4 Exponential Growth In Automotive Industry
9 Market Growth Enablers
9.1 Surge In Popularity Of Diy Techniques
9.2 Innovation In Li-Ion Battery
9.3 Increasing Labor Cost In Developed Countries
9.4 Rise In Disposable Income
10 Market Restraints
10.1 Fluctuating Raw Material Prices
10.2 End-User Variability
10.3 Availability Of Power Cutters & Low-Cost Labor In Developing Countries
11 Market Landscape
11.1 Market Size & Forecast
11.2 Five Forces Analysis
12.1 Market Snapshot & Growth Engine - Revenue
12.2 Market Snapshot & Growth Engine - Revenue
12.3 Market Overview
13.1 Market Snapshot & Growth Engine - Revenue
13.2 Market Snapshot & Growth Engine - Unit Shipment
13.3 Market Overview
13.4 Market By Sub-Sectors
13.11 Other Sectors
14.1 Market Size & Forecast
15.1 Market Size & Forecast
16 Fuel Type
16.1 Market Snapshot & Growth Engine - Revenue
16.2 Market Snapshot & Growth Engine - Unit Shipment
16.3 Market Overview
16.4 Battery Powered
16.5 Electric Powered (Plugged-In)
16.6 Pneumatic Powered
16.7 Gas Powered
16.8 Hydraulic Powered
17 Cutter Type
17.1 Market Snapshot & Growth Engine
17.2 Market Snapshot & Growth Engine - Unit Shipment
17.3 Market Overview
18.1 Market Snapshot & Growth Engine - Revenue
18.2 Market Snapshot & Growth Engine - Unit Shipment