Selbyville, Delaware, March 22, 2022 (GLOBE NEWSWIRE) --
The stand tile saw market is expected to surpass USD 1 billion by 2028, as reported in a research study by Global Market Insights Inc. Rising demand from the residential sector will augment the market growth.
The residential end-user segment dominated the global stand tile saw market in 2021 and is set to continue its dominancy through 2028. Global residential property values are growing, leading to strong industrialization in developing countries and improved overall economies in developed countries. In the last ten years, global residential property values have increased by 60%. Furthermore, mortgage rates are always shifting, making it difficult to apply for house loans and manage EMIs & budgets. People prefer to spend money on home renovations rather than buying new homes. This factor, in turn, encourages stand tile saw manufacturers to increase their production output to cater to the growing end-user requirement.
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Based on power, the 2 - 5HP segment is poised to exhibit a CAGR of about 3.5% through 2028. 2 - 5 horsepower stand tile saws are adequate in terms of power requirement and can be used to cut various forms of wood and tiles, among others. The growing need for wood construction is projected to positively affect the overall market revenue.
Asia Pacific stand tile saw market is predicted to generate around USD 340 million revenue by 2028. The expanding residential & commercial constructions coupled with product innovations by leading tile saw manufacturers in the region are likely to drive market demand. Rising disposable incomes in the region along with supportive government policies toward economic development are estimated to drive market expansion.
Furthermore, expanding foreign investments in China, India, Southeast Asia, and Japan are forecast to boost the residential & non-residential sectors. The market is slated to develop on account of low labor costs and the availability of raw materials.
Latin America stand tile saw market is projected to witness over 3% CAGR up to 2028. The regional construction sector is anticipated to grow at above 5% in 2022, notably in nations such as Brazil, Mexico, Argentina, Colombia, and Peru. Despite the continued rise in COVID-19 cases, the Latin America construction industry appears to be benefiting from a faster-than-expected economic recovery.
Some major findings of the global stand tile saw market report include:
- The industry growth can be attributed to the increasing residential construction globally.
- Growing requirement for 2 - 5HP stand tile saws mainly in China is set to generate significant revenue.
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Partial chapters of report table of contents (TOC):
Chapter 2 Executive Summary
2.1 Stand tile market 3600 synopsis, 2018 - 2028
2.1.1 Business trends
2.1.2 Regional trends
2.1.3 Power trends
2.1.4 End-user trends
Chapter 3 Stand Tile Saw Industry Insights
3.1 Industry segmentation
3.2 Industry landscape, 2018 – 2028
3.3 Industry ecosystem analysis
3.4 Industry mega trends
3.5 Innovation & sustainability
3.6 Industry impact forces
3.6.1 Growth drivers
3.6.1.1 Surging construction activities to open new avenues for the stand tile saw industry
3.6.2 Industry pitfalls and challenges
3.6.2.1 Environmental issues coupled with health hazards associated with tile saws
3.7 Regulatory trends
3.8 Growth potential analysis
3.9 Competitive landscape
3.10 Porter's analysis
3.11 Price trends
3.12 PESTEL analysis
3.13 COVID-19 impact on end user industry
About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy and biotechnology.
