Market Insight-Global Mulcher Equipment Market Overview 2022-
The Global Mulcher Equipment Market Size Is Projected to Reach US$ 663.22 Million by 2028, from US$ 481.50 Million in 2021, at a CAGR of 4.60% during 2022-2028.– Bossonresearch.com
A mulching machine, also referred to as a forestry mulcher, forest masticator, or brushcutter, uses a rotary drum equipped with steel chipper tools ("teeth") or blades to shred vegetation. They are manufactured as application-specific tractors and as mulching attachments (“mulching heads”) for existing tracked and rubber-tired forestry tractors, skid steers, or excavators.
The global Mulcher Equipment market size is projected to reach US$ 663.22 Million by 2028, from US$ 481.50 million in 2021, at a CAGR of 4.60% during 2022-2028. The expansion of infrastructure and construction industries in developed as well as developing countries is a major factor to fuel the mulcher attachment equipment market. Due to increased spending on infrastructure development initiatives, the global construction business is expanding in the agricultural and industrial sectors, particularly in emerging nations. Furthermore, growth of the mulcher equipment is fueled by the expectation that demand for wood products will increase purchases of forestry mulching equipment. The need for mulcher heads is anticipated to increase as forestry-related activities such as forestry, wood production, harvesting, processing, wood pellets, and bucking trees increase. Other factors such as technological advancement, surge in adoption of precision farming, growing demand in residential area are anticipated to propel the growth of the market globally.
However, the global mulcher equipment market faces some challenges. First of all, rapid technological advancements have led to a threat of substitution in the mulcher equipment market. Second, high cost required for mulching machines are anticipated to restrain growth of the mulcher attachment equipment market. Worse still, fluctuations in raw material prices are driving the cost even higher. Finally, The safety concerns like flying objects thrown by the head and harmful dusts may stop some people from using it, thus restraining the demand.
The COVID-19 outbreak has affected the growth of the global mulcher attachment equipment industry owing to the lockdown measures in different countries and delays in the manufacturing and production of excavator mulchers, and compact track loaders.
Figure Global Mulcher Equipment Market Size
Source: Bossonresearch.com, 2022
Driving Factors
Expansion of infrastructure and construction industries
Expansion of infrastructure and construction industries in developed as well as developing countries is a major factor predicted to fuel the mulcher attachment equipment market in the near future. In developed countries, they continue to improve their infrastructure. In developing countries, the growing demand for constructing buildings and other infrastructure means the growing need for smooth land. As a result, they need to use mulcher equipment to level land in most cases. Countries such as India and Brazil have 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. This growth in manufacturing is expected to increase growth of the mulcher equipment.
Growing Demand for Wood Products
Growth of the mulcher equipment is fuelled by the expectation that demand for wood products will increase purchases of forestry mulching equipment.
The need for mulcher heads is anticipated to increase as forestry-related activities such as forestry, wood production, harvesting, processing, wood pellets, and bucking trees increase.
Technological Advancement
Incorporation of technology in the features of mulcher equipment and rising adoption of technologically advanced mulcher equipment in developing countries is anticipated to drive the global mulcher equipment market. Technology gives it better features and decrease its limitations, making it work in more diverse environments.
Advantages of Mulcher Equipment
There are several advantages of mulcher equipment that contribute to its wide use.
Mulcher equipment is cost-effective. It provides high productivity, easy maintenance, and convenient replacement of spare parts. It also has low noise pollution, low energy consumption, and a long lifecycle. This expected to propel the demand for mulcher attachment equipment during the forecast period.
Surge in Adoption of Precision Farming
The mulcher equipment can be used in agricultural field. Forestry mulchers can be reliable tools for extending agricultural plantations from forested areas while leaving the soil organically rich with shredded vegetation. In the last few years, people have paid more attention to precision farming and this equipment can be used to improve the land utilization rate and use other resources in a more efficient way. To be specific, using mulching machines that can cut, grind, and shred all types of vegetation including small unwanted trees so that instead of wasting these away these can serve as mulch to enrich the soil while leaving the good trees to thrive. Mulch acts as fertilizers for the plants as they are rich in nutrients (like nitrogen, potassium and phosphorous) and mulching decreases the growth of weeds. Surge in adoption of precision farming will continue to push the market to grow. Moreover, government support for development of agricultural activities is anticipated to provide lucrative opportunities for market growth.
Growing Demand in Residential Area
Nowadays, more and more mulcher machines are used in household. One of the most widely used equipment in household is leaf mulcher. A Leaf Mulcher will definitely ease people’s work as it collects the leaves, shred them and finally transferred to an attached bag. Bagging the leaves can later be mulched and used as compost. People having many trees do not need to spend hours of time cleaning the leaves or to pack them up. A Leaf Mulcher also incorporates mulching function where in the mulch produced can be further used to enrich the growth of flower beds and plants in gardens. With mulcher equipment, people can make their garden better without a lot of efforts. This need is expected to grow and drives the market.
Key Development Trends
Key Players Extend their Markets
Key players are expected to contribute a lot to the extension of the mulcher 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. Also, the key players in the market are making efforts in increasing the efficiency of hydraulic excavator by integrating it with intelligent power control that will help in optimization depending upon the load through computer aided power optimization. In addition, intelligent moving object detection system warns and senses operator when objects come near. Thus, these changes are expected to expand the potential of the mulcher equipment in the coming years.
New Regional Markets Arise
Asia Pacific is a dominant market for mulcher attachment equipment, where India and China are the key markets in the region. Demand for mulcher attachment equipment is rising in Middle East & Africa due to increasing infrastructural development and increasing aggressive farming techniques and oil & gas plants.
Fierce Competition
Numerous local, regional, and international players manufacture mulcher attachment equipment. Hence, the mulcher attachment equipment market is rather fragmented. As a result, intensity of competition is high among these players. North America dominated the global mulcher attachment equipment market and accounted for a notable share due to the presence of well-established and technologically advanced manufacturers in the region. However, more and more companies in the developing countries are joining this market and they are likely to take the market share away from the companies in the developed world, making the competition fiercer.
More Widely Used
Mulchers can be used for a variety of applications, including reclamation, land clearing, infrastructure measures, plantation agriculture, Extraction and access routes, forestry, etc. Whit the technology advancement, mulcher equipment has a larger cutting width for mulching more at once, more intuitive for workers to operate and produces a finer mulch. What’s more, it is safer to operate in populated areas and urban settings, as well as easy to operate in tight spaces. Thus, it can work in more diverse environments.
Global Mulcher Equipment Market: Competitive Landscape
At present, the market concentration of mulcher equipment is not high, and the whole market is relatively fragmented. In 2021, the market concentration index CR5 of Global mulcher equipment manufacturers is 47.93% and HHI is 6.32%. Although it has improved compared with 2020, it is still at a low level. The manufacturers must compete hard to gain more market share. Caterpillar is the market leader and its market share was 52.07% in 2021. Other key players in the market include PRINOTH GmbH, Alamo Group, FAE Group SpA, Bandit Industries, John Deere, Tigercat International Inc, CASE Construction Equipment, Fecon LLC, The Ventura Group, Spartan Equipment, Advanced Forest Equipment, Erskine Attachments LLC.
Key players in the Mulcher Equipment Market include:
Caterpillar
PRINOTH GmbH
Alamo Group
FAE Group SpA
Bandit Industries
John Deere
Tigercat International Inc
CASE Construction Equipment
Fecon LLC
The Ventura Group
Spartan Equipment
Advanced Forest Equipment
Erskine Attachments LLC
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