MARKET OVERVIEW- FLOOR SAW MARKET
A floor saw, which is also referred to as a concrete saw or road saw, is a powerful tool used to cut through hard materials like concrete and asphalt. It has a circular blade with diamond-tipped teeth that rotate at high speeds to make clean, straight cuts in surfaces. Floor saws are commonly used in construction and roadwork projects to cut expansion joints, remove damaged sections, and make openings for pipes and other installations. They come in different types including hand-held, walk-behind, and ride-on saws. Hand-held saws are suitable for smaller jobs while walk-behind and ride-on saws are preferred for larger projects. The floor saw market pertains to the business of producing and vending floor saws, which are powerful cutting devices utilized for cutting concrete, asphalt, and other hard materials. Floor saws are frequently employed in construction and infrastructure projects to create accurate cuts in concrete and asphalt surfaces for various purposes, including laying utility lines, installing drainage systems, and repairing damaged surfaces. The growth of the floor saw market is spurred by the need for advanced cutting technologies that can boost efficiency and productivity in construction projects. The market offers a diverse selection of products, ranging from small handheld saws to large walk-behind machines, and it is intensely competitive, with numerous leading manufacturers and suppliers situated globally.
MARKET DRIVERS
The floor saw market can be affected by the rise in wages in various ways. One way is that higher wages can lead to an increase in consumer purchasing power, which can result in a higher demand for construction and renovation projects. As a result, the demand for floor saws, which are frequently used in cutting concrete and asphalt during construction, may also increase. Another way rising wages can impact the floor saw market is through the cost of production. As labor costs increase, manufacturers of floor saws may have to raise their prices or look for ways to reduce costs and increase productivity to remain competitive. In addition to rising wages, the floor saw market is also driven by increasing demand. The construction industry is a major contributor to the demand for floor saws, as they are used extensively in cutting concrete and other materials during building and renovation projects. The growing popularity of DIY projects and home renovations has also contributed to the increasing demand for floor saws. The floor saw market is expected to remain strong in the coming years due to the growth of the construction industry and increasing consumer demand for home improvement projects.
MARKET OPPORTUNITIES
The demand for floor saws is expected to rise as countries continue to develop their infrastructure, particularly in urban areas where infrastructure projects are prevalent. Furthermore, the use of floor saws in residential and commercial construction is increasing due to their speed, precision, and efficiency. The market for floor saws is anticipated to expand as technological advancements in engines, cutting blades, and dust collection systems continue to improve. The growth of the construction industry, driven by the need for more housing and commercial properties, is also expected to create new opportunities for floor saw manufacturers and suppliers. Finally, there is a growing awareness of safety in construction sites, which is likely to boost the demand for high-quality floor saws that meet safety standards.
MARKET RESTRAINTS
The market for floor saws may face challenges due to various factors. Firstly, the initial investment cost involved in purchasing and maintaining the equipment is high, which might discourage potential buyers. Secondly, the availability of alternative products like diamond wire saws and wall saws that can perform the same task may limit the demand for floor saws. Lastly, the use of floor saws is restricted to cutting concrete or asphalt surfaces in the construction industry, which limits their application and may hinder the growth of the floor saw market.
MARKET GROWTH CHALLENGES
The market for floor saws, which is closely linked to the construction sector, can be severely impacted by economic downturns as construction projects slow down or stop altogether. Furthermore, due to the increasing demand for these tools, manufacturers are facing tough competition, leading to pricing pressure and the need for constant innovation to stand out. In addition, many countries have imposed stringent environmental regulations on construction and demolition activities that generate excessive dust or noise, which can be a significant financial and administrative burden for businesses.
CUMULATIVE GROWTH ANALYSIS
The report provides an in-depth analysis of the Floor Saw market, market size, and compound annual growth rate (CAGR) for the forecast period of 2023-2029, considering 2022 as the base year. A rise in demand for Floor Saw in various applications is anticipated to stimulate the growth of the market and due to this factor, the market is expected to witness growth at a specific CAGR from 2023-2029.
FLOOR SAW MARKET SEGMENTAL OVERVIEW
The Floor Saw market comprises of different market segments like Type, Application and geography.
FLOOR SAW MARKET BY TYPE
By Type, the Floor Saw market includes key segments like
- Diesel Floor saw
- Petrol Floor saw
- Hydraulic Floor saw
- Other (Electric) Floor Saw
The diesel floor saw is a machine that is portable and used for cutting hard surfaces like concrete, marble, and metal. It can cut through materials up to 1/2" thick for metal and 8mm thick for wood. This tool is commonly used in construction but can also be used for smaller projects at home. Meanwhile, a petrol floor saw is a small portable power tool that has a handle and a carbon steel blade, capable of cutting through various materials, including wood, concrete, metal pipes, and bricks. Its portability makes it an advantage over traditional hand saws, and it can be used in tight spaces where other tools are not suitable. A hydraulic floor saw is a power tool that utilizes hydraulic pressure to cut through materials such as wood, metal, and even trees. These types of saws are often used in industrial and construction settings.
FLOOR SAW MARKET BY APPLICATION
By Application, Floor Saw Market finds major applications in
- Construction,
- Household and Commercial Buildings,
- Others
Floor saws are commonly used in the construction industry for cutting concrete, asphalt, and other hard materials. They are also used in household and commercial buildings for cutting through floors, walls, and other structures. Other applications of floor saws may include cutting channels for electrical wiring or water pipes. As the construction industry continues to grow, the demand for floor saws is expected to increase as well. The market growth for floor saws will be driven by factors such as increased construction activities, the need for efficient cutting methods, and advancements in technology.
According to a report, the global market for floor saws is expected to grow at a CAGR of 4.5% from 2022 to 2027. This growth is attributed to the increasing demand for floor saws in the construction industry, especially in developing countries such as India and China. Moreover, the report indicates that the market growth will also be influenced by the increasing adoption of electric and battery-operated floor saws due to their ease of use, reduced noise levels, and environmental benefits. Additionally, the demand for diamond blades, which are commonly used in floor saws, is expected to increase as well. The floor saw market is expected to continue its growth trajectory over the next few years, driven by various factors such as increasing construction activities, technological advancements, and demand for more efficient cutting methods.
FLOOR SAW MARKET BY REGION
The Floor Saw Market is Studied for the following region
- North America
- Europe
- Asia Pacific
- Rest of The World
Floor saws are in high demand in North America and Europe due to the increasing need for concrete cutting and drilling applications in the construction industry. The Asia-Pacific region, particularly China, India, and Japan, is also expected to experience significant growth in the floor saw market due to the surge in construction projects. Meanwhile, Latin America and the Middle East, and Africa are also anticipated to see growth in the market as their construction industries expand. It is projected that the global floor saw market will grow at a CAGR of approximately 4% between 2022 and 2027. The market's growth will be fueled by the growing demand for concrete cutting and drilling applications in the construction industry, as well as the increase in eco-friendly construction projects.
COVID-19 IMPACT ANALYSIS ON FLOOR SAW MARKET
Axiom MRC provides a 360-degree analysis of micro and macro-economic factors on the Floor Saw market. In addition, a complete analysis of changes in the Floor Saw market expenditure, and economic and international policies on the supply and demand side is provided in this exclusive report. The report also studies the impact of the pandemic on Global economies, international trade, business investments, GDP, and marketing strategies of key players present in the market.
The COVID-19 pandemic has had a noticeable influence on the global economy, including the floor saw market which is commonly used in construction and roadwork to cut through concrete, asphalt, and other materials. The pandemic has led to a disruption in supply chains, causing transportation difficulties and delivery delays of floor saws and associated products. Consequently, construction and roadwork companies have incurred higher costs and project delays. Moreover, there has been a decrease in demand for new construction projects due to public health measures and limitations on non-essential activities. However, the pandemic has also led to an increased demand for home renovation projects, which may benefit the residential construction sector by increasing the demand for floor saws and related products. In summary, the impact of COVID-19 on the floor saw market has been both positive and negative, but as the global economy recovers, the market is likely to return to its pre-pandemic levels.
COMPETITIVE LANDSCAPE ANALYSIS
The competitive landscape analysis of the Floor saw market is majorly focused on expanding the Europe growth of the Floor saw industry with new product innovation, and business expansion, the increasing presence of a range of manufacturers operating in the Floor Saw sector has led to the growing demand for the market. Besides, the market offers a range of products in different applications to fulfill the required consumer demand, further contributing to healthy growth in the market.
The key players studied in the market are
- ALTRAD Belle
- Chicago pneumatic
- Diamond Products
- Fairport Construction Equipment
- Husqvarna
- LISSMAC Maschinenbau gmbh
- Saint Gobain
- Simasa
- Tryolit
- Wacker Neuson SE
RECENT DEVELOPMENT:
In June 2021: Husqvarna introduced a new chainsaw model with a 90cc engine that aims to enhance the cutting experience for professionals. The primary objective of this chainsaw design was to surpass the achievements of its forerunners.
October 2020: On a Facebook Live event held in October 2020, Husqvarna debuted its T540i XP top-handle and 540i XP rear-handle chainsaws that are powered by batteries.
