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A09952 | Pages: 300 | Charts: 62 | Tables: 194 |
The Global Mulcher Attachment Equipment Market Size was valued at $525.9 million in 2022, and is projected to reach $828.1 million by 2032, growing at a CAGR of 4.8% from 2023 to 2032. Mulchers are machines 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 roadside maintenance, agriculture, forestry, land clearing in the oil & gas industry, and clearing land after harvesting wood.
Mulching is a common gardening technique that involves covering the soil with mulches, such as bark, wood chips, leaves, and other organic matter. This process offers various advantages such as weed suppression, moisture retention, soil erosion prevention, temperature regulation, plant disease prevention, and enhanced root protection. These benefits of mulching can save you a lot of time in landscape maintenance activities. Thus, mulching is an effective and ecofriendly ground maintenance technique. Furthermore, mulchers can also be used for land clearance activities in construction projects. In addition, mulchers are built with high tensile steel and have a sturdy design, thereby enhancing its reliability and durability. Also, mulcher attachments can be used with a wide range of machinery such as excavators, tractors, skid steer, loaders, and other farming equipment. Thus, the benefits of mulching and technical advantages of mulcher attachments drive the mulcher attachment equipment market growth.
Furthermore, several initiatives by countries, such as India, South Korea, South Africa, and China, which focus on providing affordable housing are also expected to drive the growth of the building construction sector. In addition, the high disposable income of people across the globe has significantly boosted the number of large and small retail stores. Site clearance is a major activity in building construction. Mulchers can be extensively used for clearing vegetation from construction sites. Thus, the growth of the building construction industry drives the growth of the mulcher attachment equipment industry.
Precision farming includes information- & technology-based farm management, which identifies, analyzes, and manages crop production activities. Furthermore, implementation of precision farming enables sustainability, profitability, and protection of land resources. Technologies such as high-precision positioning systems, including GPS & GNSS, automated steering systems, geo-mapping, sensors & remote sensing, variable rate technology (VRT), and integrated electronic communications can be adopted in mulcher attachment equipment to achieve improved results from machine operations. For instance, Deere & Company, based in the U.S., offers Precision AG technology for its mulcher attachment equipment. It offers display systems, receivers for field preparation & tillage equipment, seed placement & planting, and harvesting equipment. Furthermore, forests require regular maintenance for tackling issues such as soil nutritional deficiencies, pest & diseases, sedimentation in watercourse, and controlling competing vegetation. Thus, introduction of advanced mulching solutions and rising forestry maintenance activities significantly contributes toward growth of the global mulcher attachment equipment market.
Furthermore, governments of various nations offer support for development of agricultural and landscaping activities including subsidies for acquiring equipment and seeds. Subsidies assist in ensuring sufficient food production, decrease food commodity inflation, safeguard farmer incomes, and strengthen construction and agricultural sectors. Developing nations, such as India, offer various subsidies, loan waiver schemes, and other such facilities to improve agriculture production. Furthermore, various international trade pacts across the globe have increased the import and export of agriculture products. For instance, in 2022, the U.S. agricultural and related product exports to Mexico reached $28.4 billion and accounted for about 70% of Mexico´s total food and agricultural food and agricultural import. Thus, the growth of global agriculture sector provide lucrative growth opportunities for the mulcher attachment equipment market.
The mulcher attachment equipment market has witnessed various obstructions in its regular operations due to COVID-19 pandemic and inflation. Manufacturers faced difficulties in sourcing raw materials that are needed for producing mulcher attachments. However, the COVID-19 has subsided, and the major manufacturers in 2023 have performed well. Contrarily, the rise in global inflation is a new major obstructing factor for the entire industry. The inflation, which is a direct result of the Ukraine-Russia war, and a few long-term impacts of the coronavirus pandemic, has introduced volatility in the prices of raw materials used for manufacturing mulcher attachments. However, India and China have performed well.
The mulcher attachment equipment market is segmented into Vehicle Type, Capacity and Application. On the basis of vehicle type, the market is divided into excavators, skid steer loaders, tractors, and others. By capacity, it is divided into light-duty, medium-duty, and heavy-duty. On the basis of application, the market is categorized into construction, agriculture, and forestry. 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 2022, 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).
[VEHICLETYPEGRAPH]
The mulcher attachment equipment market is categorized into excavators, skid steer loaders, tractors, and others. In 2022, the skid steer loaders segment dominated the mulcher attachment equipment market, in terms of revenue. However, the tractors segment is expected to grow with a higher CAGR during the forecast period. Moreover, tractors are typically powered by internal combustion engines, most commonly diesel engines. Thus, tractors have enough power to drive the tractor and attached equipment. Tractors can either drive on wheels or tracks. Tracked tractors are suitable where additional traction is required, such as in wet or muddy conditions. Thus, the powerful drivetrain and high traction makes tractors suitable for mulching activities. Thus, major players in the industry are offering mulcher attachments for tractors.
[CAPACITYGRAPH]
The mulcher attachment equipment market is divided into light-duty, medium-duty, and heavy-duty. In 2022, the heavy-duty segment dominated the mulcher attachment equipment market, in terms of revenue, and light-duty segment is expected to witness growth at a higher CAGR during the forecast period. Benefits associated with light-duty mulcher equipment such as simple design, compact design, cost effectiveness, low maintenance, low noise level, and high torque speed fuel growth of the mulcher attachment equipment market. Light-duty mulcher equipment are used in applications such as land clearing, roadside maintenance, and agricultural applications.
[APPLICATIONGRAPH]
The Mulcher attachment equipment are divided into construction, agriculture, and forestry. The forestry segment accounted for a higher market share in 2022 and the agriculture segment is anticipated to register a higher growth rate throughout the forecast period. The increased use of machinery in the agriculture sector positively influences the growth of the market.
[REGIONGRAPH]
North America accounted for the highest market share in 2022. Increase in demand for mulcher attachment equipment product in land clearing, vegetation and grass clearing application in North America is anticipated to cater to growth of the mulcher attachment equipment market. Moreover, new construction activities in Mexico have led to rise in demand for excavators and skid steer loaders, which are situated in prominent regions of North America are expected to boost growth of the mulcher attachment equipment market. In addition, the increasing popularity of gardening amongst homeowners has increased the demand for mulching solutions.
Competitive analysis and profiles of the major players are provided in the mulcher attachment equipment market forecast report. Major companies in the report includes Bandit Industries, Inc., Caterpillar Inc., Alamo Group Inc., Deere & Company, CNH Industrial N.V., Fecon, LLC, FAE Group S.p.A., Lamtrac Global Inc., Ventura Mquinas Forestales, and Tigercat International Inc. To remain competitive, major players adopt development strategies such as product launch, business expansion, and acquisition.
For instance, in February 2022, Caterpillar launched Cat D1 Mulcher, which is equipped with 77.6 kW (104 hp) Cat C3.6 Diesel Engine and closed-loop hydraulics. Cat D1 Mulcher is designed for high performance and efficiency.
In January 2022. Deere & Company launched ME36 and ME50 Mulchers and RE40 and RE50 Rotary Brush Cutters. These attachments are equipped with a controlled and metered cutting depth which enables the operator to maintain RPM and a high productive mulching rate.
In April 2022, FAE Group S.p.A. launched a new-BL4/EX/VT excavators with bite limiter technology for forestry mulcher. It has mulch logs up to 30 cm in diameter. It is compatible with 18-25 tons excavator.
Key Market Segments
Key Market Players