Firewood Processors Market to touch upon multi-touch technology at a CAGR of 2% During 2019 - 2029
According to PMR, the firewood processor market is expected to grow at a CAGR of around 2% between 2019 and 2029, and is estimated to reach a global value of US$ 300 Mn by the end of 2029.
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Firewood Processor Market: Segment-wise Analysis
By product type, the global firewood processor market is segmented into portable and stationary. Most of the manufacturers of firewood processors prefer to manufacture portable type firewood processors as they come with an attached tire that can be used to conveniently move the processor from one place to another. Stationary type firewood processors are available in the global market, however, they have a lower market share as they are used on the basis of long-term contracts.
By drive type, the global market is segmented into four segments such as tractor hydraulics, electric motor, tractor PTO, and combustion engine. The tractor PTO segment is projected to dominate the global market throughout the forecast period, owing to its high capacity and use in long-term as well as short-term projects. Furthermore, the combustion engine segment is expected to be the second most opportunistic segment in the global market, as some of the end users use combustion engines to operate firewood processors.
Moreover, several firewood processor manufacturers are providing three types of processors such as tractor-operated, electric motor-operated, and combustion engine-operated processors. According to the global study, electric motor-operated processors are considered to be the future of the firewood processor market in the upcoming years.
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By log diameter, the global market is categorized into less than 10 inch, 10 inch to 15 inch, and more than 15 inch. Less than 10 inch type firewood processors are expected to account for a very low share in the global market, despite the fact that several manufacturers are making 10 inch to 15 inch and more than 15 inch type firewood processors. Interestingly, the more than 15 inch segment is estimated to dominate throughout the forecast period. However, the 10 inch to 15 inch segment is projected to register substantial business opportunities over the upcoming decades.
By region, the global firewood processor market study was conducted in seven regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East & Africa. According to the primary correspondence, most of the trees in North America are in bend shape, due to which they require high-power firewood processors. Whereas in Africa, most of the trees are straight, due to which they can be easily cut.
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