Bi-Metal and Carbide Tipped 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 Indust

Bi-Metal and Carbide Tipped 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 bi-metal and carbide tipped band saw blades market was valued at US$ 1,948.56 million in 2022 and is projected to reach US$ 2,589.57 million by 2028; it is expected to grow at a CAGR of 4.9% from 2022 to 2028.

Bi-metal and carbide tipped band saw blades are primarily made of 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, aluminum, and copper. These cost-effective blades offer high cutting performance at high speeds, along with delivering high output and addressing challenges related to production efficiency.

Based on end-use industry, the bi-metal and carbide tipped 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 2022, and the automotive segment is expected to register the highest CAGR in the market during the forecast period. The machine manufacturing segment entails 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 and carbide tipped 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.

Based on geography, the bi-metal and carbide tipped band saw blades market is segmented into North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South and Central America (SAM). In 2022, Asia Pacific accounted for the largest share of the market. The use of bi-metal and carbide tipped band saw blades has increased across the automotive, aerospace and military, and machine manufacturing industries in Asia Pacific. In addition, demand for bi-metal and carbide tipped band saw blades is surging in the region due to expanding construction projects and rising automobile production. Bi-metal and carbide tipped band saw blades are used to cut hard metals, such as structural steel, cast iron, and non-ferrous metals, to manufacture automotive components and spare parts. As a result, growing automotive production in the region is likely to drive the growth of the bi-metal and carbide tipped band saw blades market during the forecast period.

A few of the players operating in the bi-metal and carbide tipped 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.

The size of the overall bi-metal and carbide tipped band saw blades market has been derived using both primary and secondary sources. To begin the research process, exhaustive secondary research has been conducted using internal and external sources to obtain qualitative and quantitative information related to the market. Also, multiple primary interviews have been conducted with industry participants to validate the data, and to gain more analytical insights into the topic. The participants of this process include industry experts such as VPs; business development managers; market intelligence managers; national sales managers; and external consultants, including valuation experts, research analysts, and key opinion leaders, specializing in the bi-metal and carbide tipped band saw blades market.

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