Stand Tile Saw Market size is slated to cross USD 1 billion by 2028, according to a new research report by Global Market Insights Inc.
Tile saws are widely utilized in the construction industry as they save manpower & time while cutting tiles for various purposes, thus positively impacting the stand tile saw industry growth. Robust expansion in the housing construction business globally has fueled the demand for power & hand tools. Rapid urbanization and better economic conditions in emerging nations is also enhancing the market demand.
Rising residential construction in developed & developing economies is set to boost the stand tile saw market revenue. According to Oxford Economics, the global construction market size in 2020 valued at USD 10 trillion and over 50% of the construction output was recorded in developing markets. Furthermore, the global construction sector is likely to surpass USD 15 trillion by 2030.
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Below 2HP stand tile saws to generate huge revenue gains
The below 2HP segment is predicted to reach a value of around USD 350 million by 2028. The growing adoption in residential applications coupled with increasing kitchen & house remodeling activities in Europe and North America is poised to drive the below 2HP stand tile saws demand. Companies operating in this power segment are adopting new product development, merger & acquisition, and partnership strategies to strengthen their presence and gain an edge over other participants.
Browse key industry insights spread across 180 pages with 273 market data tables & 32 figures & charts from the report, “Stand Tile Saw Market Size By Power (Below 2HP, 2 - 5 HP), By End-user (Residential, Commercial), COVID-19 Impact Analysis, Regional Outlook, Application Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2028”, in detail along with the table of contents:
The commercial segment is anticipated to exhibit a CAGR of about 3.5% through 2028 led by the remodeling of offices, schools, retail, and hospitality as demonstrated by the investments in non-residential fixed structures. Increased government spending, home renovations, and remodeling activities are propelling the flooring industry statistics. Commercial floors are created to meet specific business needs. For example, to withstand more weight, the floor must be sturdy & lasting. Commercial rooms also require soundproofing and moisture resistance to prevent the rotting & bubbling of the floor. The increasing adoption of tiles in commercial space interiors in both developed & developing economies will augment the market growth.
The major stand tile saw market players include Robert Bosch GmbH, Stanley Black & Decker, Inc., MAKITA CORPORATION, General International Power Products LLC, Altendorf GmbH, Nanxing Machinery Co., Ltd., Hitachi Ltd, Powermatic, GERMANS BOADA SA, DEWALT, Equipment Development Co., Inc. (EDCO), Sawmaster Diamond Tools, Inc., Husqvarna AB, Eibenstock, and TECHTRONIC INDUSTRIES COMPANY LIMITED (TTI).