According to a new market research report published by Credence Research “Wood Chippers Machines Market (By power Source: IC Engines and Electric motors; By Type: High-torque Roller, Drum and Disc); By End-use Industry: Forestry & Biomass, Paper & Pulp, Timber Factories & Sawmills, Construction and Other (Landfilling, Landscaping, Furniture, etc.)) – Growth, Future Prospects, and Competitive Landscape, 2018-2026”, the wood chipper machines market was valued US$ 302.4 Mn in 2017 and estimated to grow with a CAGR of 2.3% during the forecast period from 2018 to 2026.
Consistent growth in paper and pulp industry has made this industry as one of the largest industrial sectors that play a vital role in the growth of forestry and agricultural equipment industry. Approximately 40% of all industrial wood traded across the globe is consumed by this industry. Paper and pulp industry is now incorporating machines capable of producing maximum outputs with minimum input and wastage. This has boosted the demand for wood chippers and other forestry equipment in recent years. In addition, wood chipper machines come very handy in clearing out fallen trees and branches after natural calamities. Frequent hurricanes, tornados, and wildfires, especially in North America, have forced governments and municipal corporations to procure wood chipper machines for fast and effective disposable of forest and garden wastes.
A wide range of power and easy availability is also one of the major factors driving the overall wood chippers market. Although wood chipper machines offer numerous services to several end-use industries, safety concerns associated with using wood chipper machines has affected the market growth. Inadequate safety features and negligences during operations are the main inhibitors affecting the growth of wood chipper machines market. However, manufacturers are striving continuously to improve the safety features and make machines more user-friendly and efficient. This is expected to bolster the demand for wood chipper machines market in coming years.
A highly fragmented market consisting of a number of local as well as international players has made the overall wood chipper machines market intensely competitive. These companies toil hard to expand their reach to the customer base and expand their existing business. Continuous innovations and new designs are the key strategies adopted by the leading players. Providing extended warranties and extensive after-sales services are few of the many efforts implemented by the manufacturers to emerge as leading players in this highly competitive market. In addition, long-term partnerships with municipal corporations and acquiring government contracts is a vital strategy observed by the leading companies.
The complete report is available at http://www.credenceresearch.com/report/wood-chipper-machines-market
Key Analysis Covered:
- Latest trends in wood chipper machines market and growth opportunities for wood chipper machines manufacturers
- Long-term agreements and partnership between manufacturers and government agencies stimulating the overall wood chipper machines market
- Different range of products offered by leading manufacturers for several end-use applications
- Largest and fastest growing segments in terms of power source, type, and end-use industries
- Most prominent geographical regions/ countries for the wood chipper machines market
- Introduction of new designs, power variations and advanced safety features in wood chipper machines by manufacturers