NEW YORK, June 26, 2019 /PRNewswire/ -- Persistence Market Research (PMR) released a new market study on the firewood processor market, which includes the global industry analysis 2014–2018 and forecast 2019–2029. The report studies the global firewood processor market and offers a thorough analysis for the next ten years.

According to PMR, the firewood processor market is expected to grow at a CAGR of around 2% between 2019 and 2029, and is estimated to reach a global value of US$ 300 Mn by the end of 2029.

Firewood Processor Market: Segment-wise Analysis

By product type, the global firewood processor market is segmented into portable and stationary. Most of the manufacturers of firewood processors prefer to manufacture portable type firewood processors as they come with an attached tire that can be used to conveniently move the processor from one place to another. Stationary type firewood processors are available in the global market, however, they have a lower market share as they are used on the basis of long-term contracts.

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By drive type, the global market is segmented into four segments such as tractor hydraulics, electric motor, tractor PTO, and combustion engine. The tractor PTO segment is projected to dominate the global market throughout the forecast period, owing to its high capacity and use in long-term as well as short-term projects. Furthermore, the combustion engine segment is expected to be the second most opportunistic segment in the global market, as some of the end users use combustion engines to operate firewood processors. Moreover, several firewood processor manufacturers are providing three types of processors such as tractor-operated, electric motor-operated, and combustion engine-operated processors. According to the global study, electric motor-operated processors are considered to be the future of the firewood processor market in the upcoming years.

By log diameter, the global market is categorized into less than 10 inch, 10 inch to 15 inch, and more than 15 inch. Less than 10 inch type firewood processors are expected to account for a very low share in the global market, despite the fact that several manufacturers are making 10 inch to 15 inch and more than 15 inch type firewood processors. Interestingly, the more than 15 inch segment is estimated to dominate throughout the forecast period. However, the 10 inch to 15 inch segment is projected to register substantial business opportunities over the upcoming decades.

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By region, the global firewood processor market study was conducted in seven regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa. According to the primary correspondence, most of the trees in North America are in bend shape, due to which they require high-power firewood processors. Whereas in Africa, most of the trees are straight, due to which they can be easily cut.

The global firewood processor market is characterized as fragmented owing to the presence of several players. Moreover, tier-2 players are estimated to account for a 70% share in the global firewood processor market. Most of these players are from Europe and North America. Besides, market leaders are adopting business expansion strategies in a bid to capture a significant share in the global market. Some of the key players in the global firewood processor market are Cord King, Hakki Pilke / Maaselän Kone Oy, Dyna Products, Ylistaron Terästakomo Oy, Tajfun Planina doo, RABAUD S.A., Multitek North America LLC, Fuelwood (Warwick) Limited, Officine Costruzioni Meccaniche S.p.A., Wallenstein Equipment Inc., Hud-Son Forest Equipment, Halverson Wood Products, Wood-Mizer LLC, Agromaster Oy, and Farmi Forest Corporation.

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Long-term Outlook: The global firewood processor market is projected to witness moderate growth in the upcoming years. The tractor PTO segment is expected to represent a significant opportunity for the manufacturers of firewood processors. However, the demand for firewood processors depends upon the season. For instance, the demand for firewood processors is high in winters. Furthermore, prominent manufacturers and small manufacturers are listing their products online with an intent to increase their share in the firewood processors market across the globe.

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