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Stand Tile Saw Market Analysis
2HP - 5 HP power segment is slated to generate a revenue of above USD 680 million by 2028. Accuracy, efficiency, and technological developments in the 2hp - 5hp stand tile saw power range are boosting the market revenue. Stand tile saws with 2hp to 5 hp motors are capable of handling challenging materials. Additionally, the advanced spray systems and water filtration will add to the market growth.
Residential stand tile saw market is predicted to hold around 65% of the revenue share by 2028. The increasing residential construction in developed & developing economies will open new opportunities for tile saw manufacturers.
Europe stand tile saw market demand is set to account for nearly 550 thousand units by 2028. The increasing residential & commercial construction activities, followed by government-planned mega projects in European will provide new opportunities. According to the Economic Committee of the European Steel Association, the construction output in Europe rebounded by over 18% in the second quarter of 2021. In 2022, it is projected that the overall European construction output will cross 4.5%.
The European Commission unveiled a significant infrastructure investment strategy that aims to raise about USD 300 billion in development investments by 2027. The Global Gateway Approach aims to improve the physical infrastructure of the digital, climate & energy, transportation, health, education, and research sectors around the world. It will also make use of the EU's new financial tools in the 2021 - 2027 multi-annual financial framework. Europe can use these measures to attract public & private investments in the key regions. Infrastructure developments coupled with increasing residential & commercial construction spending in Germany, France, the UK, Spain, and Italy are estimated to propel market expansion.
The Middle East & Africa is forecast to reach USD 95 million by 2028, witnessing over 2% gains. Growing investments in construction activities in the region will fuel the regional industry statistics.
Why is the demand for 2 - 5 HP stand tile saws increasing?
2 - 5 HP stand tile saws segment could surpass USD 680 million over 2022-2028 in remuneration owing to their efficiency, accuracy, and constant technological developments.
How big is the stand tile saw market?
In 2021, the market size of stand tile saw crossed USD 800 billion and is poised to grow at 3.8% CAGR through 2028 driven by rapid urbanization and increase in construction activities.
How is stand tile saws industry gaining traction across the residential sector?
The residential sector is anticipated to account for nearly 65% of the overall market share by 2028 due to increasing construction activities in developed and developing nations.
What will be the size of Europe stand tile saw segment?
Stand tile saws demand in Europe is estimated to exceed 550 thousand units by 2028 owing to government-planned mega projects and rise in construction activities in residential and construction sector in the region.