| Report Code: A09952 | Pages: 219 | Aug 2021 | 3190 Views | ||
| Author(s) : Priyanka K | Tables: 93 | Charts: 57 |
| |
Pandemic disrupted the entire world and affected many industries.
Get detailed COVID-19 impact analysis on the Mulcher Attachment Equipment Market
Request Now !The global mulcher attachment equipment market size was $482.7 million in 2020, and is expected to reach $806.5 million by 2030, with a CAGR of 5.0% from 2021 to 2030.
The COVID-19 outbreak has affected the growth of the global mulcher attachment equipment industry owing to the lockdown measure in different countries and delay in manufacturing and production of excavator mulcher, and compact track loaders.
Mulcher head is also known as forestry mulchers. Mulcher machine is used for cutting, grinding, chipping, land clearing, and vegetation applications. These machines can be assembled on excavators, skid steers, tractors, and graders. Mulcher attachment products are used in a variety of applications such as road side maintenance, agriculture, forestry, land clearing in the oil & gas industry, and clearing land after harvesting wood. It is available in horse power ranging from 50 HP to 250 HP.
Rise in residential and commercial construction buildings in countries such as India and Brazil has led to rise in demand for mulcher attachment equipment products for land clearing and vegetation applications, which, in turn, fuels the global mulcher attachment equipment market growth. For instance, the construction industry in Brazil is expected to grow at a rate of 4.2% from 2019 to 2021. In addition, in 2018, the government of Italy spent $6.2 billion on construction building activities, which led to rise in demand for mulching machines. This growth in manufacturing is expected to increase growth of the mulcher attachment equipment.
Increase in demand for wood production is expected to increase purchase of forestry mulching equipment, which fuels growth of the mulcher attachment equipment. Rise in forestry related activities such as forestry, wood production, harvesting, processing, wood pellets, and bucking trees is expected to propel demand for mulcher heads. Moreover, rise in demand for mulcher attachment equipment such as tractors, excavators, bulldozers, and skid steer loaders in applications such as land clearing and vegetation fuels growth of the market. Stump grinder and wood chipper are some of the mulcher attachment products used in public & private parks, agricultural land, and forest areas, which drive growth of the mulcher attachment equipment market.
Major players such as FAE Group S.p.A., Caterpillar Inc, and Bandit Industries Inc are adopting key developmental strategies such as product launch and acquisition to improve their geographic presence. For instance, in October 2019, Alamo Group Inc acquired Morbark LLC, based in the U.S., which deals in mulching attachment equipment. The acquisition was done for $352 million to improve its product portfolio for mulcher attachment equipment products.
However, fluctuations in raw material prices and high cost required for mulching machines are anticipated to restrain growth of the mulcher attachment equipment market. On the other hand, government support for development of agricultural activities is anticipated to provide lucrative opportunities for market growth.
The global mulcher attachment equipment market is segmented on the basis of vehicle type, capacity, application, and region. On the basis of vehicle type, the market is divided into excavators, skid steer loaders, and others. The skid steer loaders segment generated the highest revenue in 2020. By capacity, the market is divided into light-duty, medium-duty, and heavy-duty. The heavy-duty segment dominated the market in 2020. On the basis of application, the market is categorized into construction, agriculture, forestry, and others. The forestry segment generated the highest revenue in 2020.
Region wise, the global mulcher attachment equipment market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa).
In 2020, North America was the highest contributor to the global mulcher attachment equipment market share, and is anticipated to secure a leading position during the forecast period.
Key players profiled in this report include Bandit Industries Inc, Caterpillar Inc, Alamo Group Inc, Deere & Company, CNH Industrial N.V., Fecon LLC, Lamtrac Global Inc, FAE Group S.p.A, Tigercat International Inc, and Ventura Group Inc.
In addition, the COVID-19 pandemic has shut-down the production and sales of various products in mulcher attachment equipment, mainly owing to the prolonged lockdown in major global countries including the U.S., Italy, the UK, and others. This has hampered the growth of the mulcher attachment equipment market significantly within the last few months, and is likely to continue during 2020. Moreover, the lockdowns have also led to a halt in construction activities, and landscaping activities, thereby hampering the demand for mulcher attachment equipment market during 2020.
Major players are adopting product launch and business expansion as key developmental strategy to improve the product portfolio of mulcher attachment products. For instance, in January 2018, Bandit Industries Inc. launched a new BTC-300 track carrier for land clearing and agricultural applications. It has features such as powerful, innovative design, and comfortable cabin. It is best suitable for land clearing and agricultural application.
Key Benefits For Stakeholders
Global Key Segments
By Vehicle Type
By Capacity
By Application
By Region
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According to perspectives of CXOs of leading companies, the global mulcher attachment equipment market has witnessed huge demand in North America followed by Europe and Asia-Pacific. Highest share of the North America market is attributed to increase in demand in mulcher attachment products in construction and agricultural applications.
Mulching head is also known as forestry mulchers. Mulching is a machine used to cut, grind, vegetation, landscaping, and land clearing application. Mulcher attachment equipment are equipment that are attached to backhoe loaders, excavators, forestry tractors, and chippers. Mulching equipment is basically used for construction, forestry, and land clearing applications.
Rise in demand for superior quality wood and furniture is expected to increase demand for mulcher attachment products, which drives growth of the global mulcher attachment equipment market. Rise in construction related activities, which need to cuts trees and clearing land propel demand for mulcher attachment products, which drive the market growth. For instance, the construction industry in Africa is expected to grow at a rate of 7.4% from 2021 to 2026.
However, fluctuations in raw material prices and high initial capital investments are anticipated to restrain growth of the mulcher attachment equipment market. Moreover, technological advancements in mulcher products are anticipated to drive growth of the mulcher attachment equipment market.
A. The Global mulcher attachment equipment market size was $482.7 million in 2020 and is projected to reach $806.5 million in 2030, growing at a CAGR of 5.0% from 2021 to 2030.
A. The forecast period considered for the Global mulcher attachment equipment market is 2021 to 2030, wherein, 2020 is the base year, 2021 is the estimated year, and 2030 is the forecast year.
A. The base year considered in the Global mulcher attachment equipment market is 2021.
A. The report for Global mulcher attachment equipment market doesn’t provides Value Chain Analysis, but if there is a requirement for the same, it could be added as an additional customization.
A. On the basis of application, the forestry segment is expected to be the most influencing segment growing in the Global mulcher attachment equipment market report.
A. Based on capacity, heavy-duty segment generated the highest revenue, accounting for 53.20% of the market share, and is projected to grow at a CAGR of 4.7% from 2021 to 2030.
A. The report contains an exclusive company profile section, where the leading 10 companies in the market are profiled. These profiles typically cover company overview, geographical presence, and market dominance (in terms of revenue and volume sales).
A. North America is expected to provide more business opportunities for Global mulcher attachment equipment market in the future.
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