Bucking Machine Market Forecast and CAGR
According to the latest research by Fact.MR, bucking machine market is set to witness steady growth during 2021-2031 with an expected CAGR of approximately 6%. Demand for bucking machines will witness steady recovery in short term, with an optimistic growth outlook in the long run. Increasing awareness regarding the medical use of cannabis and the growing popularity of hemp-based products among millennia is likely to take the machine demand in a northward direction.
What is Driving Demand for Bucking Machine?
Bucking machines are special purpose equipment which are designed for removing the buds from stems before trimming. The process ensures that the plant stalks are reused and they continue to grow further. The bucking process is considered to be the very first step in the harvesting process. These machines help in extracting buds and small branches from the plants which are later used to make hemp based oil.
Hemp farming is considered as labor intensive and complicated practice. Removing leaves and buds from the stalk plant which is harvesting process, is considered as most labor-intensive aspect of the whole farming.
Conventional method of harvesting through hand pick, demands large capital investment and process time. In order to eliminate this, few farmers went for using combine or grinders in order to grind the stalk plants. But few study shows that this method destroys the value of the plant.
For instance, from a survey it was drawn out that by the use of combines, the harvest lost around 7% of their hemp’s CBD content. This becomes a prominent issue since it reduces the yield output of the produce. Purpose tailored bucking machines helps in obtaining the buds and leaves in the right manner which results in higher profitability.
Similarly, the manufacturers are providing machines with different feed size. Cannabis stems are obtained in various sizes, the appropriate diameter becomes a very important aspect. With too small a diameter the machines are likely to jam and bigger diameter damages the buds.
In addition, the manufacturers provide machines in which the farmer can adjust the pulling strength, emergency stop, and reverse options to fix the jam problems. Few manufacturers such as CenturionPro have introduced industry scale bucking machines in the market which is likely to increase the output and profit in less time.
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Geographical Outlook of Global Bucking Machine Market
Bucking machine market covers six key regions, North America, Latin America, Europe, East Asia, South East Asia & Oceania and MEA. The utilization of bucking machine is highly dependable on the technological intensive farming of cannabis and hemp.
North America is expected to be front runner with both USA and Canada being the prominent players in the market. Similarly, European countries such as France, Spain and Germany are also among leading hemp growing countries.
In Asia Pacific region China is leading the race and in sometime it used to produce 70% of world’s total hemp. Still China is among the leading producers. Historical tradition of Korea allows them the use of the hemp in clothing, with relaxed rule for industrial purpose, North Korea is producing them in large quantity.
Similarly, with relaxation of laws in other counties in the region such as India and ASEAN countries, the farming is likely to take up the pace which eventually increase the bucking machine consumption in the region.
On other hand, Middle East and Africa is presumed to hold a significant share in the global market. Afghanistan is one of the leading producer but majority of it is under illegal possession. With more legalization the country is expected to open its farming practice to technology.
Israel is another prominent player with high technology and medical capabilities. Other countries like Lebanon, which became first country to legalize cannabis farming, the region is expected to have positive outlook during forecast period.
COVID-19 Impact Outlook for Bucking Machine Market
COVID-19 pandemic lockdown imposed restrictions on movement of both man and material across many business verticals. But the cannabis and hemp demand was in mixed state during the period.
Legal cannabis and hemp find their places in medical stores, treatment centers. As the lockdown was imposed people stocked up their medical prescriptions and the recreational users did the same. In Europe since the public places were closed, nonprofit organizations which used to grow for registered customers also had their doors shut.
This initially reduced the demand. But later as essential services were open the demand saw a spike. In Canada legal cannabis stores were open and the sale saw an increase. Similarly, United States also saw mixed impact due to varying laws in various states. This kept the demand of bucking machine balanced.
Throwing light on other aspects such as, closer of manufacturing sector which impacted the manufacturing of machine. Global supply chain was disrupted, raw material export was at halt. This created void in demand and supply. As the lockdown guidelines are lifting, the market is about to open and the demand of machine is likely to experience surge.
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North America Outlook for Bucking Machine Market
North America is expected to be one amongst prominent regions in the globe. United States recently made it stand at third position in world’s largest hemp growing countries. The country has made the use legalize in various states with expected approximately 78,000 acres of land for farming. The largest share of hemp is grown for CBD in the country. It is expected that the farming of the crop will increase in future.
On similar grounds, Canada has always been a major player in the industry. According to health Canada data, during 2016-2017, the country has witnessed almost 80% increase in the hemp production. The farming area increased from almost 73,000 acres to 130,000 acres. These positive outlook in both the countries is likely to propel the bucking machine use in the region.
Who are the Key Manufacturers and Suppliers of Bucking Machine?
Some of the leading manufacturers and suppliers of bucking Machine include
- Centurion Pro Solution Ltd.
- EZ Trim Harvesting
- Mobius Trimmer
In the research regions, the bucking machine market is expected to be extremely fragmented. Manufacturers are deciding to create more varied products that are more durable, cost effective, and offer more functionality to stay competitive in this industry.
On the other hand, manufacturers are leveraging the evolving online sales and distribution network in order to obtain a wider reach and higher market penetration. This has expanded the market for bucking machines.
An Adaptive Approach to Modern-day Research Needs
Bucking Machine Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By Machine Type
- Gentle Cut Buckers
- High Capacity Buckers
By Feed Type
- Dry Feed
- Wet Feed
- Skid Mount
- Stand Mount
By End Use
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Others
- Western Europe
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- Rest of Asia Pacific
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE - All statements of fact, opinion, or analysis expressed in reports are those of the respective analysts. They do not necessarily reflect formal positions or views of the company
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