The global chainsaw market size was valued at US$ 3484.3 million in 2020 and is predicted to hit over US$ 5,010.5 million by the end of 2030, representing impressive CAGR of 3.5% during the forecast period 2021 to 2030.
Key market Insights:
Increasing adoption of chainsaw for the various emerging applications is projected to offer profitable growth prospects for the players in market. Rapid industrialization across the emerging economies is encouraging key operating players in the global industry to invest into the target industry. Further, on-going technological development of chainsaw are supporting to the industry growth. Moreover, in the leading countries, growth in the adoption of electrical vehicles and growing construction sector are enhancing adoption of chainsaw which is expanding industry. Likewise, evolving nations worldwide are concentrating on growing chainsaw industry to provide chainsaws to the end use sectors.
Crucial factors accountable for market growth are:
COVID-19 Impact on Global Chainsaw Market
The COVID-19 explosion has had an impact on most of the world's primary markets. The effect of COVID-19 on the target market is adverse. North America is the largest chainsaw market, but supply and demand for the chainsaw has decreased with the spread of coronavirus and lockout situations in the U.S.Because of COVID-19, instability of the supply chain, volatility in the supply of raw materials, inadequate manpower in the manufacturing facility and low demand for end-use customers have hindered the growth of the target industry in developed and developing economies worldwide. COVID-19, however, is increasingly resolving the situation and most companies are beginning their facilities at maximum capacity.
Future of Global Chainsaw Market
Main target-industry firms, such as Alfred Kärcher SE & Co. KG Firm, Koki Holdings Co. Among others focuses on business growth by implementing strategies such as advanced product launches, capacity expansion, and heavy production investments in their facilities that are expected to flourish in the near future with the global chain-saw market growth. In the next 10 years, this trend is projected to continue and to increase the growth of the global chainsaw industry. In addition, demand for chainsaw furniture and construction sectors is boosting the growth of the chainsaw in the coming years.
Fuel Operated segment is estimated to take over the Type Segment of Chainsaw Market Revenue
Fuel powered chainsaws are the most preferred chainsaws for huge tree cutting purposes owing to its high power output. These chainsaws are powered by the fuels including gas, petrol, etc. Fuel powered chainsaws offers some benefits over electric operated chainsaw including ability to cut large trees and branches, offers great power along with cutting speed. Decreasing price of gasoline, increasing global population are major factors creating huge demand for the fuel powered chainsaws worldwide.
Commercial Segment Is Foreseen To Lead the Application Segment of Chainsaw Market By Revenue
The commercial segment is dominant in terms of revenue during the forecast period of time. Increasing adoption of wood in the commercial construction applications, including flooring and wall & roof designing is in tern creating huge demand for chainsaw and driving growth of the segment. The modern chainsaw has proven to be one of the most beneficial tools in the forestry and logging industry. High-powered chainsaw’s are used in the lambing, size-up, felling, brushing and slashing of the trees and branches. Fuel-powered chainsaw is widely used in the commercial applications. Additionally, chainsaw is also used in the ice carvings. All above factors are boosting growth of the segment.
North America is projected to be the Biggest Market for Chainsaw
The research study deals with the industry prospects of chainsaw products around regions including Europe, North America, Latin America, Asia-Pacific, and Middle East and Africa. Chainsaw market is taken by North America owing to developing demand for chainsaws in the furniture and construction sectors of the region, particularly in the U.S. of the North America. Asia Pacific is likely to list the noteworthy CAGR, on account of enormous share in the commercial construction markets players.
Top Players contending in the Market:
The companies focusing on research and development are expected to lead the global chainsaw market. Leading competitors contending in global chainsaw market are as follows:
For the better understanding the recent situation of the global market and for most policies of the country, Precedence Research forecast the future evolution of the target industry. This research study offers qualitative and measureable insights on global market and valuation of market size and development trends for global market segments.
Key Market Developments:
Major Market Segments Covered:
No cookie-cutter, only authentic analysis – take the 1st step to become an Precedence client