Plunge Saw Market

Plunge Saw Market Has Positive Growth Outlook Due to Increasing Industrialization

From 2018 to 2022, the global plunge saw market registered a CAGR of 2.7%, according to Fact.MR, a market research and competitive intelligence provider. The market will reach a valuation of US$ 765 million in 2023 and is expected to increase at a CAGR of 3.6% to end up at US$ 1.09 billion by 2033.

Sales of plunge saws accounted for 31% share of the global saw machinery market at the end of 2022. Demand for plunge saws is significantly influenced by individual users in major urban areas around the world. Since a plunge saw helps cut high-strength materials such as wood, plastic, and glass, it increases the efficiency of the work. Due to the usage of these machines, the cutting of tough surface materials becomes easy.

Further, the usage of plunge saws is expected to increase in the industrial sector to meet production targets. Plunge saws follow a guide rail to cut the material, which increases efficiency while cutting a product. These saws are preferable as they reduce the risk of accidents as compared to conventional saws because the blades are installed inside the saw.

• The United States and China are projected to witness a comparatively higher plunge saw demand as these are two manufacturing hubs.
• Modified plunge saws in terms of design and features will be highly sought-after with more end users inclining towards aesthetic products.

Report Attributes	Details
Plunge Saw Market Size (2022A)	US$ 737.2 Million
Estimated Market Value (2023E)	US$ 765 Million
Forecasted Market Value (2033F)	US$ 1.09 Billion
Global Market Growth Rate (2023-2033)	3.6% CAGR
North America Market Share (2023)	27.2%
North America Market Value (2023)	US$ 208.1 Million
Europe Market Share (2023)	26.7%
Europe Market Value (2023)	US$ 204.3 Million
China Market Share (2023)	8.8%
China Market Value (2023)	US$ 95.8 Million
Market Share of Top 3 Countries	39.3%
Key Companies Profiled	Bora Tools CHERVON Co., Ltd (Skil) Emerson Electric Co (Ridgid) Evolution Power Tools Ltd Festool GmbH Freud America, Inc (Diablo) Genesis Power Tools Hilti Corporation Koki Holdings America Ltd (Metabo) Kreg Tools Makita Corporation

What’s Driving High Demand for Plunge Saws across the World?

“The Plunge Increases the Efficiency of Workers”

Industrial innovation increases the efficiency of work; plunge saws take less time as compared to other conventional saws. The advantage of the innovation of products improves productivity, reduces cost, increases competitiveness, improves brand recognition, and drives profitability.

“Manufacturers Expanding Production Capacities across Untapped Markets”

Urbanization and infrastructure development are intensifying in emerging economies such as China, India, the Philippines, Indonesia, Nigeria, and Vietnam, among others. Spending is rising in dynamic infrastructure sectors such as power, transportation, and water. In addition, these nations are becoming more urbanized as the balance of economic power shifts from the West to the East.

Manufacturers are expanding in these undeveloped markets as a result of shifting global demographics, rapid urbanization, and profitable prospects. As such, we will see an increase in the demand for a variety of industrial and commercial products, including plunge saws.

What Issues Do Plunge Saw Manufacturers Face?

“High Cost of Maintenance and Lack of Skilled Labour”

The designs of plunge saws have continuously evolved with changing consumer requirements. However, improving equipment design requires heavy investments, which leads to greater expenditure, making the equipment more expensive. Therefore, manufacturers face the challenge of making their products cost-effective while improving efficiency and productivity.

At the same time, material advancements in plunge saws with a wider range of electronic features require professional operators who need to be adequately trained. Inappropriate handling may lead to severe accidents. Operational and safety programs are mandatory for operators. Lack of skilled operators to operate such equipment is hampering their adoption, particularly in developing countries. Therefore, the manufacturers need to address on the above-mentioned problem and develop products accordingly to increase their sales growth.

Market share analysis of plunge saws based on power type and region. Under the power type segment, electrically powered plunge saws lead with 65.2% market share.

Country-wise Insights

How Will the China Plunge Saw will Bridge the Demand-Supply Gap?

The China plunge saw market is expected to account for a significant portion of the global share in the near future. East Asia currently accounts for more than 22.2% market share, and China is expected to reach a value of US$ 95.8 million by the end of 2023. This is due to the flourishing construction industry in China, which is primarily driven by the country's growing population and urbanization rate.

The government initiative of 'China Manufacturing 2025' is meant to strengthen the manufacturing capability of the country. Industry 4.0 has shown the path for the development of the industrial segment. Increasing efforts taken by China’s government for the development of the manufacturing industry will increase the usage of plunge saws over the coming years.

Why is the Germany Plunge Saw Market Highly Lucrative?

Germany is projected to dominate the demand for plunge saws in Europe due to quick adoption and growing infrastructure. To meet individualized demand, Germany has strengthened its local production capacity. A rise in industrial investments has been linked to an increase in the demand for plunge saws.

Germany announced US$ 198 billion in industrial investments between 2022 and 2026 for the expansion of electric vehicle infrastructure, climate protection, and hydrogen technology. Germany is planning to expand its renewable energy infrastructure.

The plunge saw market in Germany is anticipated accounts for a market share of 18% in 2023 and reach a valuation of US$ 29.8 million.

Category-wise Insights

Will Battery Powered Versions Lead the Growth for Plunge Saws?

Battery-powered plunge saws have created ample opportunities for manufacturers to increase their production volumes. Moreover, battery-powered plunge saws are environment-friendly since they work on lithium-ion batteries. These batteries are high in demand across the industrial sector due to their affordability and rising government initiatives. The battery-powered segment is likely to hold a market share of 34.8% and reach a valuation of US$ 266 million by the end of 2023.

• The United States Department of Energy has announced to invest US$ 335 million for the purpose of lithium-ion battery recycling.
• Furthermore, industrial manufacturers are also investing in lithium-ion batteries; recently, Exide announced an investment of around US$ 72 million for its cell unit of lithium-ion.

How are Online Sales Channels Expected to Aid Market Expansion?

It is now simple to establish an online presence and use e-Commerce platforms for the sales of goods due to advancements in technology and higher Internet connectivity. This distribution strategy is widely used by businesses to reach out to clients who are situated abroad or in remote places.

Businesses can generate revenue and sell goods without having a physical presence because of e-Commerce distribution. Companies have recently increased the number of customers they serve and the potential revenue they generate by developing websites, platforms, and mobile apps that make their products available to consumers across the globe.

Sales patterns are changing as a result of e-Commerce websites such as Amazon, Alibaba, Flipkart, and eBay, among others. The online sales channel is expected to reach a market valuation of US$ 219.4 million in 2023.

Competitive Landscape

Bora Tools, CHERVON Co., Ltd (Skil), Emerson Electric Co (Ridgid), Evolution Power Tools Ltd, Festool GmbH, Freud America, Inc (Diablo), Genesis Power Tools, Hilti Corporation, Koki Holdings America Ltd (Metabo), Kreg Tools, Makita Corporation, Milwaukee Electric Tool Corporation, Positec Tool Corporation (Rockwell), Powertec, Robert Bosch Tool Corporation, Stanley Black & Decker (DeWalt), Techtronic Industries (Rayobi), Triton Tools, WEN Product, and Woodstock International, Inc (Shop Fox) are key manufacturers of plunge saws.

One of the prominent factors for market survival is innovation. Companies develop and implement modern technology solutions at every stage of production, allowing them to manufacture products that meet customers' expectations and needs to the greatest extent possible. Firms believe in innovations that include the integrated application of professional knowledge, global experience, and modern technologies in the manufacturing of plunge saws.

• In 2022, Bosch included a new product in its plunge saw range. GKT 55 GCE provides a millimeter-accurate cut to cope with impressive strength tests.
• In March 2022, Festool launched a new track saw, which comes with durability, high power, and absolute precision.

Fact.MR has provided detailed information about the price points of key manufacturers of plunge saws positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

Segmentation of Plunge Saw Industry Research

• By Power Source:

  • Electrically Powered (Corded)
    • Upto 18 V
    • 20 V
    • Above 20 V
  • Battery Powered (Cordless)
    • Upto 12 Amp
    • 12-14 Amp
    • Above 14 Amp

• By Track Length:

  • Up to 60 Inches
  • 60 - 100 Inches
  • Above 100 Inches

• By End User:

  • Individual / DIY Users
  • Commercial Users

• By Sales Channel:

  • Online Sales
    • Company Owned Platforms
    • E-Commerce Platforms
  • Offline Sales
    • Modern Trade Channels
    • Specialty Stores
    • Others

• By Region:

  • North Americas
  • Latin America
  • Europe
  • East Asia
  • South Asia & Oceania
  • Middle East & Africa