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Mulcher Attachment Equipment Market to reach $828.1 million, Globally, by 2032 at 4.8% CAGR: Allied Market Research

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Allied Market Research

30 Nov, 2023, 15:55 GMT

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Growth of the building construction industry, advantages of mulching, and advancements in farming & forest maintenance operations drive the growth of the global mulcher attachment equipment market.

PORTLAND, Ore., Nov. 30, 2023 /PRNewswire/ -- Allied Market Research published a report, titled, "Mulcher Attachment Equipment Market by Vehicle Type (Excavators, Skid Steer Loaders, Tractors, and Others), Capacity (Light-Duty, Medium-Duty, and Heavy-Duty), and Application (Construction, Agriculture, and Forestry): Global Opportunity Analysis and Industry Forecast, 2023–2032".

According to the report, the global mulcher attachment equipment industry generated revenue of $525.90 million in 2022 and is estimated to reach $828.10 million by 2032, exhibiting a CAGR of 4.8% from 2023 to 2032. Mulchers are agriculture equipment that are specially used for cutting, grinding, chipping, land clearing, and vegetation applications. These machines can be attached to excavators, skid steers, tractors, and graders. Mulchers 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.

Request For Sample:  https://www.alliedmarketresearch.com/request-sample/10317

Prime determinants of growth

Growth of the building construction industry, advantages of mulching, and advancements in farming and forest maintenance operations drive the growth of the global mulcher attachment equipment market. However, high initial cost of attachment restricts the market growth. Moreover, government initiatives for the development of agricultural activities present new opportunities in the coming years.

Report coverage & details:

Report Coverage

Details

Forecast Period

2023–2032

Base Year

2022

Market Size in 2020

$525.9 million

Market Size in 2032

$828.1 million

CAGR

4.8 %

No. of Pages in Report

190

Segments covered

Vehicle type, Capacity, Application, and Region.

Drivers

Growth of the building construction industry

Advantages of mulching

Advancements in farming and forest maintenance operations

Opportunities

Government initiatives for the development of agricultural activities

Restraints

High initial cost

COVID-19 Scenario

  • The outbreak of the COVID-19 pandemic had a negative impact on the global mulcher attachment equipment market, owing to temporary closure of manufacturing facilities.
  • Not only the production but also the sale of mulcher attachment equipment was hampered due to the closure of end-user industries across the world, especially in the initial period of the pandemic.

Buy This Research Report (300 Pages PDF with Insights, Charts, Tables, Figures) : 

https://www.alliedmarketresearch.com/checkout-final/173048e41ce8ee1c6a26a09579dda79b 

The skid steer loaders segment is expected to maintain its leadership status throughout the forecast period

By vehicle type, the skid steer loaders segment held the highest market share in 2022, accounting for nearly half of the global mulcher attachment equipment market revenue and is estimated to maintain its leadership status throughout the forecast period. Skid steer loaders are attachment of devices used for various applications such as roadside maintenance, canal, vegetation, and land clearing applications. Skid steer loaders have attachment such as forks, buckets, trenchers, and landscaping rakes. Skid steer loaders are designed for construction activities, where large vehicles do not reach or are difficult to operate.

The heavy-duty segment to maintain its leadership status throughout the forecast period

By capacity, the heavy-duty segment held the highest market share in 2022, accounting for nearly half of the global mulcher attachment equipment market, and is estimated to maintain its leadership status throughout the forecast period. The medium-duty segment is projected to manifest the highest CAGR from 2023 to 2032. Skid steer loaders are attachment of devices used for various applications such as roadside maintenance, canal, vegetation, and land clearing applications. Skid steer loaders have attachment such as forks, buckets, trenchers, and landscaping rakes. Skid steer loaders are designed for construction activities, where large vehicles do not reach or are difficult to operate.

The forestry segment to maintain its lead position during the forecast period

By application, the forestry segment accounted for the largest share in 2022, contributing to nearly half of the global mulcher attachment equipment market revenue, and is projected to maintain its lead position during the forecast period. The agriculture segment is expected to portray highest CAGR from 2023 to 2032. Rise in demand for skid steer loaders mulchers, excavators, and compact track loaders in various agriculture applications such as landscaping, vegetation, and land clearing application propels demand for mulcher attachment equipment. Increase in urbanization and industrialization in emerging countries such as Germany, France, and the U.S. drives demand for agriculture mulchers. This is expected to fuel demand for mulcher attachment equipment; thereby, driving growth of the mulcher attachment equipment globally.

North America to maintain its dominance by 2032

By region, North America held the highest market share in terms of revenue in 2022, accounting for nearly two-fifth of the global mulcher attachment equipment market revenue, and is likely to dominate the market during the forecast period. 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.

Inquire Before Buying: https://www.alliedmarketresearch.com/purchase-enquiry/10317

Leading Market Players: -

  • 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,
  • Tigercat International Inc.

The report provides a detailed analysis of these key players in the global mulcher attachment equipment market. These players have adopted different strategies such as new product launches, collaborations, expansion, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.

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About us:

Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Wilmington, Delaware. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

Contact us:

Wilmington, Delaware
1209 Orange Street,
Corporation Trust Center,
Wilmington, New Castle, Delaware 19801 USA.
Int'l: +1-503-894-6022
Toll Free: +1-800-792-5285
Fax: +1-800-792-5285
help@alliedmarketresearch.com

Logo: https://mma.prnewswire.com/media/636519/Allied_Market_Research_Logo.jpg

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