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

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.

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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:

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.

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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.

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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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SOURCE Allied Market Research