Concrete Cutting Market
Growth Factors of Concrete Cutting Market
The concrete cutting market size was valued at USD 5.48 billion in 2022, and the market is now projected to grow from USD 5.67 billion in 2023 to USD 7.83 billion by 2030, exhibiting a CAGR of 4.7% during the forecast period of 2023-2030.
Government has put restrictions on social gatherings, events and moving out from home which make the people homesick. Numerous companies are encountering hurdles due to covid pandemic as the outbreak situation has curtailed production and supply chain which has hindered the pneumonia testing market switched to treating covid patients as priority over the other procedures which led the blood transfusion diagnostics market growth.
Growing activities associated with infrastructure will fuel market growth during projected period. Roads, electricity, dams, bridges, and urban infrastructure comprise the majority of the infrastructure industry. These infrastructure projects mostly use the equipment. It is therefore anticipated that the demand for diamond blades would rise as long as these projects continue to raise the need for cutters. All of these elements work together to raise the market share of concrete cutting globally.
Increasing propensity to use diamond blades for masonry cutting to spur industry Growth during projected period. To improve their position in the market, major companies like Tyrolit, Stihl Group, and Husqvarna Group are releasing concrete discs and blades with cutting-edge technology. For example, the husqvarna group unveiled new ulti-grit diamond blades in april 2023 for cutting walls, masonry, and concrete. The blade is made using cutting-edge technology and boasts features like precise cutting, long durability, and fast cutting speeds. Diamond blades not only offer greater durability but also faster and smoother cutting. The inlaid diamonds' sharp edges enable the blade to perform accurate cuts with little to no chipping or breaking.
Comprehensive Analysis of Concrete Cutting Market
The concrete cutting market and machinery and equipment industry is rising at an exponential rate due to its market segmentation. This market expansion effectively provides a detailed regional assessment considering the dominant supply and demand forces that impact the machinery and equipment benefit management industry. These segmentations are methodically segregated by product types, by attachment application, by payload capacity for application, by end users and by sales channel. The product types segmentations include, Equipment and Attachment, By Attachment Application segmentations include Wheel Loader, Skid Steer, and Excavators, By Payload Capacity for Attachment Application segmentations include Less than 1 Ton, 1-5 Ton, 5-15 Ton, 15-20 Ton, and More than 20 Ton, By End Use Vertical segmentations include Demolition and Refurbishment. However, the By Sales Channel segmentations include OEM and Aftermarket.
The Asia Pacific region lead the concrete cutting market by benefitting a market size of USD 2.16 billion in 2023 due to raising government spending on new construction, infrastructure development, and demolition projects.
The top players in the market play a crucial role in the machinery and equipment industry assuring industrial prospectus growth and setting market standards. These players include, Abortech (Australia), Atlas Copco (Sweden), Cedima GmbH (Germany), Hilti Corporation (Liechtenstein), Husqvarna Group (Sweden), iQ Power Tools (U.S.), Makita Corporation (Japan), Stanley Black & Decker Inc (U.S.), Stihl Group (Germany) and Tyrolit (Austria) these market players provide a level-playing competitive landscape.
In August 2022, Tyrolit said that it would be bolstering its position in the worldwide abrasive market by acquiring Turkish company Egeli Egesan, which produces grinding tools for various uses. Enhancing the concrete cutters product line was the primary goal of the acquisition.
Segmentation Table
ATTRIBUTE DETAILS
Study Period 2019-2030
Base Year 2022
Estimated Year 2023
Forecast Period 2023-2030
Historical Period 2019-2021
Growth Rate CAGR of 4.7% from 2023 to 2030
Unit Value (USD Billion)
Segmentation By Product Type, By Attachment Application, By Payload Capacity for Attachment Application, By End Use Vertical, By Sales Channel, and By Region
By Product Type
Equipment
Handheld Cut-off
Walk-behind Push
Attachment
Hammer
Concrete Saws
Others (Hammers)
By Attachment Application
Wheel Loader
Compact Loader
Mid-Size Loader
Large Loader
Skid Steer
Small Frame
Medium Frame
Large Frame
Excavators
By Payload Capacity for Attachment Application
Less than 1 Ton
5-15 Ton
15-20 Ton
More than 20 Ton
By End Use Vertical
Demolition
Refurbishment
By Sales Channel
OEM
Aftermarket
By Region
North America (By Product Type, By Attachment Application, By Payload Capacity for Attachment Application, By End Use Vertical, By Sales Channel, and By Country)
U.S. (By Product Type)
Canada (By Product Type)
Europe (By Product Type, By Attachment Application, By Payload Capacity for Attachment Application, By End Use Vertical, By Sales Channel, and By Country)
Asia Pacific (By Product Type, By Attachment Application, By Payload Capacity for Attachment Application, By End Use Vertical, By Sales Channel, and By Country)
Middle East & Africa (By Product Type, By Attachment Application, By Payload Capacity for Attachment Application, By End Use Vertical, By Sales Channel, and By Country)
South America (By Product Type, By Attachment Application, By Payload Capacity for Attachment Application, By End Use Vertical, By Sales Channel, and By Country)
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