The chainsaw market is estimated to be valued at US$ 4.22 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The chainsaw market consists of products that are used for cutting wood material through a motorized saw chain. Chainsaws are compact motorized saws that facilitate easy cutting and trimming of wood logs, tree branches, and lumber. They find widespread application in construction, forestry, and landscaping activities. Chainsaws are of different types based on the engine starting mechanism and power source, such as gas-powered, electric, and battery-powered chainsaws.
Market Dynamics:
Growing demand for lumber and timber products: Global demand for timber and wood-based products such as furniture, plywood, medium density fiberboard (MDF), and wood pulp has been steadily rising over the years. Chainsaws play a vital role in felling trees, trimming branches, and cutting lumber for processing it into various wood products. Therefore, the rising demand for timber is fueling the adoption of chainsaws for woodcutting applications.
Advantages of electric chainsaws over gas-powered models: Electric chainsaws are gaining popularity over traditional gas-powered models owing to various advantages such as lower carbon footprint, reduced emissions, ease of use, less maintenance, and reduced noise levels. Leading chainsaw manufacturers are focusing on developing advanced electric chainsaws with features such as brushless motors, lithium-ion batteries, and ergonomic designs to cater to increasing consumer demand.
SWOT Analysis
Strength: Chainsaw offers efficient cutting abilities and are durable tools. They provide fast cutting capabilities for various applications like timber harvesting, tree care and land management. Chainsaws come with comfortable handles and anti-vibration features for ease of operations.
Weakness: Maintenance of chainsaws require occasional repairs and replacement of parts which increases overall ownership costs. Prolonged usage of chainsaws can cause health issues like fatigue and noise induced hearing loss.
Opportunity: Increasing afforestation and expansion of timber harvesting activities present an opportunity for chainsaw manufacturers. Rising residential and commercial construction also drives the demand for chainsaws.
Threats: Strict regulations around carbon emissions from gasoline-powered equipment poses a threat. Substitutes like battery-powered chainsaws also gaining traction.
Key Takeaways:
The Global Chainsaw Market Size is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing afforestation and expansion of timber harvesting activities. Countries in North America and Europe are increasing their forest coverage which is driving the demand for chainsaws in the region.
Regional analysis - The North American region currently dominates the chainsaw market with over 30% share owing to large-scale forest activities in Canada and United States. Europe is another major market for chainsaws due to stringent regulations for sustainable forest management in countries like Germany, France and Sweden. Countries in the Asia Pacific region are expected to witness fastest CAGR over the forecast period led by China, India and Indonesia.
Key players operating in the chainsaw market are Husqvarna Group, Stiga, Stihl, Robert Bosch, Oregon Tools, Active, Al-Ko Kober, Einhell Germany, Cobra, Emak Group. The industry is consolidated in nature with top 5 players accounting for over 60% share. Players are focused on expanding their product portfolio through innovations in ergonomic designs, engine types and safety features.
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https://www.rapidwebwire.com/chainsaw-market-size-share-growth-outlook-2023/
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