Report : North America Bi-Metal Band Saw Blades Market Forecast to 2028 - COVID-19 Impact and Regional 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)
High Speed Steel Segment to Dominate North America Bi-Metal Band Saw Blades Market During 2021–2028
According to a new market research study on “North America Bi-Metal Band Saw Blades Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, Application, and End Use Industry” is expected to reach US$ 558.85 million by 2028 from US$ 428.09 million in 2021. The market is estimated to grow at a CAGR of 3.9% from 2021 to 2028. The report provides trends prevailing in the North America bi-metal band saw blades market along with the drivers and restraints pertaining to the market growth. Several advantages of the blades and growing demand from various end-user industries are the major factor driving the growth of the North America bi-metal band saw blades market. However, expensive maintenance required for bi metal band saw blades hinders the growth of North America bi-metal band saw blades market.
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.
The North America bi-metal band saw blades market is segmented based on product type, application, end use industry, and country. Based on product type, the market is bifurcated into carbide tipped and high speed steel. The high speed steel segment dominated the market in 2020 and carbide tipped segment is expected to be fastest growing during forecast period. Based on application, the market is segmented into steel, aluminum, cast iron, non-ferrous material, and others. The steel segment dominated the market in 2020 and aluminum segment is expected to be fastest growing during forecast period. Based on end use industry, the market is segmented into automotive, aerospace and defense, machine manufacturing, and others. The others segment dominated the market in 2020 and automotive segment is expected to be fastest growing during forecast period. Based on country, the market has been segmented into the US, Canada, and Mexico.
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 are among the leading companies in the North America bi-metal band saw blades market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2017, Eberle had launched carbide-tipped blade CT-flex® Alu XS in Chicago, the US. The blade can be used both for manual and auto-feed for sawing metals.
Contact Us
Contact Person: Sameer Joshi
Phone: +1-646-491-9876
Email Id: sales@businessmarketinsights.com