Concrete Cutting Market Size to Hit USD 7.83 Billion by 2030 | Fortune Business Insights
According to Fortune Business Insights, the global Concrete Cutting Market size is projected to grow from USD 5.48 billion in 2022 to USD 7.83 billion in 2030 at CAGR of 4.7% during forecast period
Pune, India, Dec. 12, 2023 (GLOBE NEWSWIRE) — According to Fortune Business Insights, the global Concrete Cutting Market size was valued at USD 5.48 billion in 2022. The market is anticipated to grow from USD 5.67 billion in 2023 to USD 7.83 billion by 2030, exhibiting a CAGR of 4.7% over the estimated period. The demand for concrete cutting is closely tied to the overall growth of the construction industry. As construction activities increase, the need for cutting and modifying existing structures also rises. The demand for concrete cutting is also driven by renovation and remodeling projects. Fortune Business Insights™ provides this information in its research report, titled “Concrete Cutting Market, Forecast 2023-2030”.
Industry Development:
March 2020 – Echo Tools rolled out an Echo CSG-7410ES concrete cutter. The machine was claimed to depict high speed, high torque, and exhibit excellent performance.
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Report Scope & Segmentation:
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 4.7% |
| 2030 Value Projection | 7.83 billion |
| Base Year | 2022 |
| Concrete Cutting Market Size in 2022 | 5.48 billion |
| Historical Data for | 2019-2021 |
| No. of Pages | 219 |
| Segments covered | By Product Type, By Attachment Application, By Payload Capacity for Attachment Application, By End Use Vertical, By Sales Channel, and By Region |
COVID-19 Impact:
COVID-19 Pandemic Put Halt on Construction Activities Impacting Industry Expansion
The pandemic period resulted in supply chain disruptions, affecting the net sales of numerous companies. The crisis also led to a halt on construction-associated activities. However, the market growth was revived by the increasing spending in construction activities and the rising focus of manufacturers on the reduction of carbon emissions from machines deployed in concrete cutting.
Report Coverage:
- It assimilates key market drivers and restraints.
- It profiles the rankings of key market players accordingly.
- It includes key market developments and information on different market segments.
- It provides a comprehensive market assessment.
- It assesses the COVID-19 pandemic’s impact on the market.
Drivers and Restraints:
Rising Deployment of Diamond Blades for Masonry Cutting to Propel Industry Expansion
One of the major factors impelling concrete cutting market growth is the increasing usage of diamond blades for cutting masonry. The blades offer smoother and faster cutting performance.
However, the industry expansion may be hindered by the high cost pertaining to the procurement and maintenance of the equipment.
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Concrete Cutting Market Segmentation Analysis:
Equipment Segment to Lead Impelled by Rise in Construction Activities
Based on product type, the market is bifurcated into equipment and attachment. The equipment segment accounted for a major market share. The growth is propelled by a rise in the number of residential and commercial construction projects.
Excavator Segment to Record Notable Growth Impelled by Increasing Usage in Commercial Projects
Based on attachment application, the market is categorized into skin steer, excavator, and wheel loader. The excavator segment is slated to record highest CAGR over the projected period. This is due to the high efficiency exhibited by excavators.
Less than 1 Ton Segment to Exhibit Substantial Growth Owing to Strong Portfolio of Manufacturers
Based on payload capacity for attachment application, the market is segmented into more than 20 ton, 15-20 ton, 5-15 ton, and less than 1 ton. The less than 1ton segment is anticipated to expand at the highest CAGR over the study period. The expansion is driven by the growing product deployment in residential constructions and the strong portfolio of manufacturers.
Refurbishment Segment to Depict Lucrative Growth Impelled by Increasing Investment in New Projects
Based on end use vertical, the market is bifurcated into demolition and refurbishment. The refurbishment segment, which accounted for a major market share, is estimated to expand at a substantial CAGR over the anticipated period. The expansion is driven by increasing government investments in the construction of new residential and commercial buildings.
OEM Segment to Register Appreciable Expansion Owing to Numerous Benefits Offered by Concrete Cutting Equipment
By sales channel, the market is segmented into OEM and aftermarket. The OEM segment is anticipated to register an appreciable surge throughout the study period. The growth is impelled by the various benefits offered by the equipment such as high tolerance of the dimension, fast operation, accurate cuts, and saves time.
On the basis of geography, the market for concrete cutting is subdivided into Europe, North America, South America, Asia Pacific, and the Middle East and Africa.
Regional Insights:
Asia Pacific to Hold Major Share Driven by Presence of Pivotal Players
Asia Pacific concrete cutting market share is estimated to depict lucrative expansion over the projected period. The rise is propelled by increasing investments in infrastructure activities.
The Europe market is slated to exhibit appreciable growth throughout the study period. The surge is due to soaring investments in the development of commercial and residential sectors.
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Competitive Landscape:
Major Companies Ink Partnership Agreements to Strengthen Market Footing
Leading players in the concrete cutting market have been adopting strategic initiatives for strengthening the positions of their businesses. These comprise merger agreements, acquisitions, and partnership deals. Additional steps include an upsurge in research and development activities and the rollout of new products.
A List of Key Manufacturers Operating in the Global Market:
- Abortech (Australia)
- Atlas Copco (Sweden)
- Cedima GmbH (Germany)
- Hilti Corporation (Liechtenstein)
- Husqvarna Group (Sweden)
- iQ Power Tools (U.S.)
- Makita Corporation (Japan)
- Stanley Black & Decker Inc (U.S.)
- Stihl Group (Germany)
- Tyrolit (Austria)
Table of Content:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Concrete Cutting Key Players Market Share/Ranking, 2022
- Global Concrete Cutting Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Product Type (USD)
- Equipment
- Handheld Cut-Off
- Walk-behind Push
- Attachment
- Hammer
- Concrete Saws
- Others (Drills, etc.)
- Equipment
- By Attachment Application (USD)
- Wheel Loader
- Compact Loader
- Mid-Size Loader
- Large Loader
- Skid Steer
- Small Frame
- Medium Frame
- Large Frame
- Excavators
- Wheel Loader
- By Payload Capacity for Attachment Application (USD)
- Less than 1 Ton
- 1-5 Ton
- 5-15 Ton
- 15-20 Ton
- More than 20 Ton
- By End Use Vertical (USD)
- Demolition
- Refurbishment
- By Sales Channel (USD)
- OEM
- Aftermarket
- By Region (USD)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- South America
Continued….
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