![Global Saw Blades Market](https://res.cloudinary.com/devmoveo/image/upload/v1709642918/skyquest/gallery/Global-Saw-Blades-Market.jpg)
Report ID: SQMIG15F2179
Report ID:
SQMIG15F2179 |
Region:
Global |
Published Date: March, 2024
Pages:
157
|
Tables:
93 |
Figures:
75
Drivers
Saw blades are commonly used in the automotive industry to cut metal and rubber, and to shape car or engine bodies or wheels. On the other hand, electric cars were gaining popularity through technological innovation. For example, the United States is expected to be a global leader in next-generation automotive technology. With economic incentives and R&D support, the country is confident of reducing reliance on petroleum products for transportation, and the future of electric vehicles (EV) looks promising. Such a growing trend of electric vehicles will drive the market growth of saw blades during the forecast period.
Advances in Physical Technology
Restraints
Basic ferrous raw materials such as iron, steel, and others have experienced significant price fluctuations. For example, in 2020, the prices of metals and precious stones rose sharply due to the COVID-19 pandemic. Steel prices rose 25% in the first quarter of 2021 compared to a year ago, mainly due to relentless Chinese demand. Additionally, raw material prices have reached a point where they are influencing raw material suppliers to pass the increased costs on to their downstream businesses. This will hamper the growth of the sawblades market during the forecast period.
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Report ID: SQMIG15F2179