Growing Need for Land Clearing Equipment by a Single Machine Driving Demand for Mulching Heads, States Fact.MR
Published : 23 Feb 2022 Industry: Industrial Goods
As per the latest industry survey published by Fact.MR, a market research and competitive intelligence provider, the global mulching heads market is anticipated to grow 1.9X over the next ten years to reach US$ 936 Mn.
With rising urbanization, the need for clear land is increasing, which is driving demand for compact track loaders as they can be used in house and municipal offices. As such, compact track loaders are estimated to reach a market value of more than US$ 323 Mn by the end of 2032.
North America and Europe hold major portion of the market share due to rising construction industries and increasing spending on gardening. Growing need for mulching material is escalating the sales of mulching heads. Another reason for the high percentage share is the presence of leading mulching head manufacturers in these regions.
Key Takeaways from Market Study
- Under drive type, direct drive accounts for 66% of the global market share, and the segment is estimated to expand at a CAGR of 7.1% over the forecast period (2022-2032).
- Under carrier capacity, the 20 – 30 tons segment is estimated to reach a market value of US$ 166 Mn by the end of 2022.
- 100 – 200 HP in mounting equipment capacity accounted for 33% market share in 2021.
- By mounting capacity, out of 100 mulching heads sold more than 30 belong to the category of compact track loaders.
- Europe is a major shareholder in the global mulching heads market. The region is slated to account for 30% market share over the forecast period, with Spain leading the way.
“Demand for mulching heads set to increase from both, agricultural and construction sector, over the years to come,” says a Fact.MR analyst.
Majority of market participants are constantly modifying their mulching head offerings. Development is accomplished by tailoring products according to the needs of consumers. Market leaders have started this to extend their customer base and generate new revenue streams.
Long-term partnerships and advertising through competitive and recreational events are anticipated to provide brands with opportunities to expand their reach and consumer base over the coming years.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global mulching heads market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study revels essential insights on basis of drive type (direct drive and belt drive), carrier capacity (up to 10 tons, 10 – 20 tons, 20 – 30 tons, 30 – 40 tons, and above 40 tons), mounting equipment capacity (up to 100 HP, 100 – 200 HP, 200 – 300 HP, 300 – 400 HP, and above 400 HP), max. shredding diameter (below 25cm, 25 – 40 cm, and above 40 cm), max. cutting width (up to 48 inches, 48 – 56 inches, and above 56 inches), mounting equipment (skid steer loaders, compact track loaders, excavators, and tractors), and region ( North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East and Africa).
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Consultant – Industrial