The global safety knives market size accounted for a notable valuation in 2023. The market is poised to expand at a remarkable CAGR over the analysis period.
Safety knives are used for safely opening cartons or boxes and find application across numerous industries for the maximization of worker safety. The product deployment is rising owing to the non-conductive and non-rusting nature of zirconium oxide or stainless steel-based knives.
Fortune Business Insights™ provides this information in its research report, titled “Safety Knives Market, 2024-2032”.
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Segmentation:
Semi-Automatic Retractable Safety Knives Segment Accounted for Prominent Share Due to Surging Product Usage
Based on product type, the market is subdivided into semi-automatic retractable safety knives, fully automatic retractable safety knives, concealed blade safety knives, and others. In 2022, the semi-automatic retractable segment registered a dominating share in the market. This can be credited to the rising product deployment for cutting cardboard and other materials across numerous industries.
Home Center & Hardware Segment to Register Dominating Share Owing to Availability of an Array of Products
By distribution channel, the market is fragmented into mass retail, home center & hardware, e-commerce, and others. The home center & hardware segment is anticipated to hold a major share in the market. This is due to the escalating availability of a range of products in these stores, which enables consumers to choose the product of their preference.
Based on geography, the market for safety knives has been analyzed across North America, Europe, Asia Pacific, South America, and the Middle East & Africa.
Report Coverage:
The report presents an analysis of the prominent industry trends. It further gives an account of the major factors boosting the global business scenario over the study period. Additional aspects comprise an analysis of the industry based on numerous segments: product type, distribution channel, and region.
List of Key Players Mentioned in the Report:
- Martor AG (Germany)
- Slice Inc. (U.S.)
- The Safety Knife Company (U.K.)
- Techni Trade (Czech Republic)
- Hyde Tools Inc. (U.S.)
- Milwaukee Electric Tool Corporation (U.S.)
- Irwin Industrial Tools (U.S.)
- Apex Tools Group (U.S.)
- OLFA Corporation (Japan)
- Stanley Black & Decker Inc. (U.S.)
Drivers and Restraints:
Increasing Manufacturer Emphasis on Developing a Range of Products to Propel Industry Expansion
The safety knives market growth is impelled by the surging emphasis of manufacturers on the development of various types of blades catering to food, medical, and retail industries. Industry players focus on product affordability and design for enhancing the ease of handling. These factors are set to drive product adoption over the coming years.
Regional Insights:
North America to Dominate Due to Evolving Logistics Industry
North America safety knives market share is set to hold a leading position in the market over the analysis period. The product demand is rising in the region owing to the evolving logistics sector and the launch of various types of retractable knives.
The U.S. records an increasing manufacturer emphasis on the development of high-quality products equipped with quality blades and safety technologies. The equipment can help cut plastic-wrapped products, bagged goods, paper, and cardboard.
Competitive Landscape:
Industry Players Focus on Launching New Products to Strengthen Market Footing
Pivotal market players are focused on the development and launch of various products. In addition, they are entering joint ventures and partnerships for securing an edge over their competitors. Companies are adopting these steps to consolidate their market positions.
Key Industry Development:
June 2022 – OLFA Corporation announced the launch of stainless steel-based SK-16 Quick Change Concealed Blade Safety Knife. The range has been launched for providing the ease of knife usage to customers.
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