The North America Rebar Cutting Tools Market is projected to witness market growth of 5.3% CAGR during the forecast period (2024-2031).
The US market dominated the North America Rebar Cutting Tools Market by Country in 2023, and is forecast to continue being a dominant market till 2031; thereby, achieving a market value of $1.87 billion by 2031. The Canada market is experiencing a CAGR of 7.7% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 6.8% during (2024 - 2031).
A reinforcing bar, or rebar, is a steel bar or a mesh of steel strands employed as a tension tool in masonry and reinforced concrete structures. Its purpose is to strengthen and maintain the concrete in compression. Buildings, bridges, highways, and other infrastructure projects require these bars to be cut to precise specifications to preserve their structural integrity and ensure the safety of the structures. Therefore, the tools designed to cut rebar are indispensable in construction activities.
The demand for infrastructure that is both resilient and robust has been higher as the population continues to expand and urbanize. This surge in construction activities has significantly increased the need for effective and efficient rebar cutting tools. The demand for sophisticated rebar cutting technologies is further fueled by the emphasis on upgrading aging infrastructure and complying with stringent safety and environmental regulations in developed markets such as North America.
Mexico's demand for rebar cutting tools is propelled by its expanding construction sector, which is driven by urbanization and industrialization. The National Infrastructure Program (PNI) 2020-2024 outlines investments worth approximately MXN 4.5 trillion to improve transportation, energy, and water infrastructure. This substantial investment necessitates using advanced construction tools, including rebar cutters, to meet the project's requirements.
Additionally, the growth of the automotive industry in regions like Guanajuato and Nuevo León has led to the construction of new manufacturing facilities, further boosting the demand for rebar cutting tools. Therefore, the region will present lucrative growth opportunities for the market throughout the forecast period.
The US market dominated the North America Rebar Cutting Tools Market by Country in 2023, and is forecast to continue being a dominant market till 2031; thereby, achieving a market value of $1.87 billion by 2031. The Canada market is experiencing a CAGR of 7.7% during (2024 - 2031). Additionally, The Mexico market would exhibit a CAGR of 6.8% during (2024 - 2031).
A reinforcing bar, or rebar, is a steel bar or a mesh of steel strands employed as a tension tool in masonry and reinforced concrete structures. Its purpose is to strengthen and maintain the concrete in compression. Buildings, bridges, highways, and other infrastructure projects require these bars to be cut to precise specifications to preserve their structural integrity and ensure the safety of the structures. Therefore, the tools designed to cut rebar are indispensable in construction activities.
The demand for infrastructure that is both resilient and robust has been higher as the population continues to expand and urbanize. This surge in construction activities has significantly increased the need for effective and efficient rebar cutting tools. The demand for sophisticated rebar cutting technologies is further fueled by the emphasis on upgrading aging infrastructure and complying with stringent safety and environmental regulations in developed markets such as North America.
Mexico's demand for rebar cutting tools is propelled by its expanding construction sector, which is driven by urbanization and industrialization. The National Infrastructure Program (PNI) 2020-2024 outlines investments worth approximately MXN 4.5 trillion to improve transportation, energy, and water infrastructure. This substantial investment necessitates using advanced construction tools, including rebar cutters, to meet the project's requirements.
Additionally, the growth of the automotive industry in regions like Guanajuato and Nuevo León has led to the construction of new manufacturing facilities, further boosting the demand for rebar cutting tools. Therefore, the region will present lucrative growth opportunities for the market throughout the forecast period.
List of Key Companies Profiled
- Toyo Kensetsu Kohki Co., Ltd.
- PEDAX GmbH
- Schnell S.p.A
- TJK Machinery (Tianjin) Co, Ltd.
- Gensco Equipment Inc.
- EUROBEND GmbH
- E.P. Macchine Elettroniche Piegatrici S.p.A.
- Hitachi, Ltd.
- Hilti AG
- Makita Corporation
Market Report Segmentation
By Application- Construction Site
- Steel Product Manufacturing
- Semi-automatic
- Fully Automatic
- US
- Canada
- Mexico
- Rest of North America
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market at a Glance
Chapter 3. Market Overview
Chapter 4. North America Rebar Cutting Tools Market by Application
Chapter 5. North America Rebar Cutting Tools Market by Type
Chapter 6. North America Rebar Cutting Tools Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- Toyo Kensetsu Kohki Co., Ltd.
- PEDAX GmbH
- Schnell S.p.A
- TJK Machinery (Tianjin) Co, Ltd.
- Gensco Equipment Inc.
- EUROBEND GmbH
- M.E.P. Macchine Elettroniche Piegatrici S.p.A.
- Hitachi, Ltd.
- Hilti AG
- Makita Corporation
Methodology
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