Global Electric Tile Cutter Market was valued at US$ 176.92 Million in 2021 and is expected to surpass US$ 332.83 Million by 2030, registering a CAGR of 7.4% during the forecast period (2022-2030), according to the Global Electric Tile Cutter Market Report, by Type (Wet Tile Cutter, Dry Tile Cutter)), by Application (Household, Commercial), and by Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa), published by Coherent Market Insights.
The market is studied across major geographies including North America, Europe, Asia Pacific, Latin America, Middle East, and Africa. Asia Pacific held dominant position in the global electric tile cutter market in 2017 and is projected to retain its dominance throughout the forecast period. China is the major growth engine in this region, owing to high production, consumption, and export of ceramic tiles in China. As per ’ analysis, China’s consumption of ceramic tiles is increasing at a growth rate of 7% to 8% yearly since 2016. Ceramic tiles consumption in China in 2016 was around 42.8% of the global consumption.
Additionally, booming construction industry in emerging economies, wherein the application of electric tile cutters is found the most, offers lucrative growth opportunities for key players. For instance, as per statistics by Make in India, construction industry in India is expected to witness considerable growth, owing to high investments in smart city initiatives. The investment of US$ 31.7 Bn has been proposed by 99 cities in India under this initiative by the end of 2019. Among application, commercial segment accounted for the largest market share in 2017 and is expected to retain its dominance throughout the forecast period. High investments in infrastructure and corporate development along with booming manufacturing industry in Asia Pacific are primary factors driving growth of this segment over the forecast period.
Global Electric Tile Cutter Market- Impact of Coronavirus (Covid-19) Pandemic:
The COVID-19 pandemic has affected the global electric tile cutter market significantly. Lockdown was imposed across the globe as a precautionary measure by governments of countries to stop the spread of coronavirus. This led to the temporary suspension of all businesses. Several commercial and residential construction projects were suspended due to financial crises and a lack of manpower, which affected the sales of electric tile cutters. Hence, the global electric tile cutter market witnessed slow growth during the pandemic.
To know the latest trends and insights prevalent in this market, click the link below:
Browse 150 market data tables* and 90 figures* on “Global Electric Tile Cutter Market- Global forecast to 2030”
Key Trends and Analysis of the Global Electric Tile Cutter Market: