Profitability of tools that enable high-performance metal sawing in-house is expected to drive product demand
NEW YORK, USA, Feb. 1, 2022 /EINPresswire.com/ — According to our latest market research on “Bi-Metal Bandsaw Blades Market Forecast to 2028 – Impact of COVID-19 and Global Analysis – by product type (carbide-tipped and high-speed steel), application (steel, aluminum, cast iron, nonferrous materials, and others), and end-use industry (automotive, aerospace and defense, machinery manufacturing, and others),” the market was valued at US$3,922.06 million in 2020 and is expected to reach US$5,907.52 million by 2028; it is expected to grow at a CAGR of 5.6% from 2021 to 2028.
Market size value in – 3,922.06 million US$ in 2020
Market size value of – US$5,907.52 million by 2028
Growth rate – CAGR of 5.6% from 2021 to 2028
Forecast Period – 2021-2028
Base year – 2021
Number of pages – 161
Number of paintings – 83
Number of graphs and figures – 79
Historical data available – Yes
Segments Covered- Product Type, Application and End-Use Industry
Regional scope – North America; Europe; Asia Pacific; Latin America; AEM
National reach – United States, United Kingdom, 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 bandsaw blades are made of two metals, primarily high tensile 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, copper and other metals. Bi-metal bandsaw blades are a cost effective solution for a variety of metal cutting applications. The blades provide high cutting performance at high speed and high efficiency, and meet production efficiency challenges. They are particularly suitable for industrial metal cutting operations on semi-automatic and automated machines. Additionally, bi-metal bandsaw blades offer a number of advantages, such as better cutting performance, longer tool life, superior wear resistance and excellent cutting stability. the cutting edge.
Growing demand from various end-user industries propels the growth of the market
Impact of the COVID-19 pandemic on the Bimetal Bandsaw Blades market
The bi-metal bandsaw blades market has been negatively impacted due to insufficient supply of raw materials such as high speed steel and alloy steel tooth tips and disruptions in the production processes of bandsaw blades. bimetal tape. The bi-metal bandsaw blade is widely used in steelmaking applications and in several end-use industries such as automotive and machinery production. According to a survey conducted by the United Nations Industrial Development Organization (UNIDO), after the imposition of the lockdown last year, production in India had come to a halt. In manufacturing, motor vehicles, metals, chemicals, textiles, and machinery and equipment were among the hardest-hit industries. The COVID-19 pandemic has had a severe impact on the integrated automotive sector globally. This led to a disruption of Chinese parts exports, the closure of assembly plants in the United States and large-scale production disruptions across Europe. The auto industry has seen a decline in passenger car sales. For example, according to McKinsey & Company, original equipment manufacturers (OEMs) have reduced their production volumes in Europe by 16% from their originally planned volumes for 2020.
Consequently, vehicle sales fell massively. In April 2020, sales in the UK, Spain and Italy were over 95% lower than the previous year’s levels, while Germany lost 61% and France lost 89% of sales of new cars compared to last year. However, the industry has started to gain momentum and is expected to experience significant growth in the coming years as electric vehicle sales increase. Thus, initially, the COVID-19 pandemic negatively impacted the growth of the global Bimetal Bandsaw Blades Market; however, the market is expected to resume growth in the next few years.
Download Latest COVID-19 Analysis of Bi-Metal Bandsaw Blades Market Growth Research Report at https://www.theinsightpartners.com/covid-analysis-sample/TIPRE00025552/?utm_source=EINPressWire&utm_medium= 10357
Bi-Metal Bandsaw Blades Market: By End-Use Industry
Based on end-use industry, the bi-metal bandsaw blade market is segmented into automotive, aerospace & defense, machinery manufacturing, and others. The machinery 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 Machinery Manufacturing segment includes manufacturers of machinery used in the construction, food and beverage, automation and controls industries. Rapid industrialization and urbanization, especially in developing economies, is fueling the proliferation of construction and manufacturing industries. The growth of these industries eventually accelerated the production of heavy machinery, subsequently creating a demand for bi-metal bandsaw blades for cutting metals and alloys. According to the China Construction Machinery Association (CCMA), in 2020, sales of excavators and other heavy machinery increased by 39% over the previous year, and more than 300,000 units out of 327,605 units were sold. this year.
Bimetal Bandsaw Blades Market: Competitive Landscape and Key Developments
A few players operating in the bi-metal bandsaw blades market are Bichamp Cutting Technology Co (Hunan)., Ltd.; Dalian Special Steel Products Co., Ltd. ; Eberle; Saws Hakansson India Pvt. ltd. ; Lenox; Starret; Wikus-Sagenfabrik; Benxi Tool Group; Bahco; and Amada Machine Tools Co., Ltd.
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