North America Bi-Metal Band Saw Blades Market

North America Bi-Metal Band Saw Blades Market Forecast to 2028 – COVID-19 Impact and 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 and Defense, Machine Manufacturing, and Others) 

Number of Pages: 106

Market Introduction

North America comprises countries such as the US, Canada, and Mexico. There have been many growth opportunities for the bi-metal band saw blade market in North America due to the presence of major market players operating in the region, along with continuous enhancements of the overall business processes. According to The International Trade Administration (ITA), the US is one of the largest automotive markets in the world. In 2018, the light vehicle sales in the US reached 17.2 million units, which is the fourth straight year in which the sales have reached or surpassed 17 million units. In 2019, North America's commercial vehicle production expanded by 3.6%. Further, there is a higher demand and production for large engine capacity vehicles in this region, such as extended cabs. In this region, the automotive market is inclined toward light trucks and SUVs, owing to better traction provided by such vehicles in changing weather conditions and off-road capabilities. Also, light commercial vehicle production in North America is increasing. Thus, the growing automotive sector in the region has increased the usage of bi-metal band saw blades in the automotive industry. Bi-metal band saw combines an excellent alloy steel backing, which permits maximum loading with a very high-quality high-speed steel (M51) cutting edge. This blade offers excellent performance both in cutting and penetration on automatic and semiautomatic machines. However, due to the COVID-19 pandemic, the automotive industry has been negatively impacted. The industry is expected to recover and become stable in the next few years, which would drive the bi-metal band saw blade market in North America.

In case of COVID-19, North America is highly affected specially the US, followed by Mexico and Canada. According to McKinsey & Company, by April 2020, automotive sales had fallen 47% in the US. The bi metal band saw blade market has been negatively impacted due to the insufficient supply of raw materials such as high-speed steel tooth tips and alloy steel and disruptions in bi metal band saw blade production processes. Bi metal band saw blade is extensively used in steel applications and several end-use industries such as automotive and machinery production. As per a survey conducted by the United Nations Industrial Development Organization (UNIDO), after the lockdown was imposed last year, production across the region had stopped. In manufacturing, motor vehicles, metals, chemical products, textiles, and machinery & equipment were among the most affected industries. The COVID-19 pandemic has had a severe impact on the integrated automotive sector. The unprecedented rise in the number of COVID-19 cases across the US and Canada, along with the subsequent lockdown of production facilities in the countries, has negatively influenced the growth of the various markets.

North America Bi-Metal Band Saw Blades Strategic Insights

Strategic insights for the North America Bi-Metal Band Saw Blades provides data-driven analysis of the industry landscape, including current trends, key players, and regional nuances. These insights offer actionable recommendations, enabling readers to differentiate themselves from competitors by identifying untapped segments or developing unique value propositions. Leveraging data analytics, these insights help industry players anticipate the market shifts, whether investors, manufacturers, or other stakeholders. A future-oriented perspective is essential, helping stakeholders anticipate market shifts and position themselves for long-term success in this dynamic region. Ultimately, effective strategic insights empower readers to make informed decisions that drive profitability and achieve their business objectives within the market.

North America Bi-Metal Band Saw Blades Report Scope

North America Bi-Metal Band Saw Blades Regional Insights

The geographic scope of the North America Bi-Metal Band Saw Blades refers to the specific areas in which a business operates and competes. Understanding local distinctions, such as diverse consumer preferences (e.g., demand for specific plug types or battery backup durations), varying economic conditions, and regulatory environments, is crucial for tailoring strategies to specific markets. Businesses can expand their reach by identifying underserved areas or adapting their offerings to meet local demands. A clear market focus allows for more effective resource allocation, targeted marketing campaigns, and better positioning against local competitors, ultimately driving growth in those targeted areas.

The North America bi-metal band saw blades market is expected to grow from US$ 428.09 million in 2021 to US$ 558.85 million by 2028; it is estimated to grow at a CAGR of 3.9% from 2021 to 2028. Manufacturers of band saw blades are focusing on developing new products that deliver high-quality cuts in different metal cutting applications. The product innovation strategy is primarily focused on improving the performance and durability of blades for high-precision metal cutting. Intense competition in the metal cutting market has been one of the key factors compelling the manufacturers to adopt product innovation strategy. One of the significant manufacturers of band saw and hand file products introduced a new range of bi-metal band saw blades that are designed with the specialized depth to meet all metal cutting applications including general purpose cutting, production cutting, structural steel cutting, and tough exotic alloy cutting. Thus, increasing development of new products with improved performance is expected to provide significant product and clientele expansion opportunities to the market players in the coming years across North America region.

Key Market Segments

In terms of product type, the high speed steel segment accounted for the largest share of the North America bi-metal band saw blades market in 2020. In terms of application, the steel segment held a larger market share of the North America bi-metal band saw blades market in 2020. Further, the others segment held a larger share of the North America bi-metal band saw blades market based on end use industry in 2020.   

Major Sources and Companies Listed

A few major primary and secondary sources referred to for preparing this report on the North America bi-metal band saw blades market are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AMADA MACHINERY CO., LTD.; BENXI TOOLS GROUP; BICHAMP CUTTING TECHNOLOGY CO(HUNAN).,LTD; EBERLE; Gebr. Lennartz GmbH & Co. KG; ROBERT RÖNTGEN GMBH & CO. KG; SNA Europe (BAHCO); Starrett; and WIKUS among others.

Reasons to buy report

• To understand the North America bi-metal band saw blades market landscape and identify market segments that are most likely to guarantee a strong return
• Stay ahead of the race by comprehending the ever-changing competitive landscape for North America bi-metal band saw blades market
• Efficiently plan M&A and partnership deals in North America bi-metal band saw blades market by identifying market segments with the most promising probable sales
• Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form North America bi-metal band saw blades market
• Obtain market revenue forecast for market by various segments from 2021-2028 in North America region. 

North America Bi-Metal Band Saw Blades Market Segmentation

North America Bi-Metal Band Saw Blades Market - By Product Type

• Carbide Tipped
• High Speed Steel

North America Bi-Metal Band Saw Blades Market -

By Application

• Steel
• Aluminum
• Cast Iron
• Non-Ferrous Material
• Others

North America Bi-Metal Band Saw Blades Market -

By End Use Industry

• Automotive
• Aerospace and Defense
• Machine Manufacturing
• Others

North America Bi-Metal Band Saw Blades Market - By Country

• US
• Canada
• Mexico

North America Bi-Metal Band Saw Blades Market - Company Profiles

• AMADA MACHINERY CO., LTD. 
• BENXI TOOLS GROUP
• BICHAMP CUTTING TECHNOLOGY CO(HUNAN).,LTD
• EBERLE
• Gebr. Lennartz GmbH & Co. KG
• ROBERT RÖNTGEN GMBH & CO. KG 
• SNA Europe (BAHCO)
• Starrett
• WIKUS