Stump Grinder Market To Record Rise In Incremental Opportunity During Forecast Period 2022 - 2032 : Fact.MR

According to a latest report on the stump grinder market by Fact.MR, a market research and competitive intelligence provider, the global market is anticipated to reach a valuation of US$ 309 Mn by the end of 2021.

Introduction of customized stump grinders particularly for land surfacing systems in various end-use industries such as agricultural land, private and public parks, and forest areas is driving demand for stump grinders. Personal and private grinders accounted for around 4,789 units of sales in 2020.

Stump grinder manufacturers are continuously focusing on research & development of the product to facilitate easy utilization and elimination of the risk factors associated with it. Prominent players such as MORBARK, LLC., Caterpillar Inc., Bandit Industries, Inc, MTB MFG INC., and Wacker Neuson SE account for more than 55% market share. The efficiency of these machines has increased over the years owing to various technological advancements.

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Important Segments Covered in Stump Grinder Industry Research

By Machine Type
Walk-behind Stump Grinders
Self-propelled Stump Grinders
Wheeled
Tracked
Tow-behind Stump Grinders

By Tooth Length
Up to 2.5 Inch Stump Grinders
2.5 - 3 Inch Stump Grinders
Above 3 Inch Stump Grinders
By Number of Cutting Teeth
8 - 16 Teeth Stump Grinders
16- 24 Teeth Stump Grinders
24- 32 Teeth Stump Grinders
Above 32 Teeth Stump Grinders

By Cutting Edge per Tooth
Two
Three

By End User
Stump Grinders for Personal/ Private Use
Stump Grinders for Government Use
Stump Grinders Provided by Rental Companies

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Key Takeaways from Market Study

Global stump grinder sales are projected to increase at CAGR of 4.4% and reach a market value of US$ 473.5 Mn by the end of 2031.
The market is anticipated to grow 1.5X and create an absolute dollar opportunity of US$ 164 Mn during 2021-2031.
Out of every 100 stump grinders sold, around 30 are being sold from Europe.
Under machine type, tow-behind stump grinders account for nearly 52% of market share in 2021, creating an absolute dollar opportunity of US$ 12.1 Mn during the historic period of 2016 to 2020.
Under the tooth length segment, up to 2.5 inches hold significant market share and are estimated to generate a value of US$ 133 Mn by the end of 2021.
Under number of cutting teeth, the above 32 teeth type is growing in popularity, primarily due to utilization in the commercial scale for the removal of stumps.
Under end user, the government segment increased at a CAGR of 1.4% during the historic period and reached a market value of US$ 130 Mn in 2020.
In Europe, the Rest of Europe is generating maximum revenue due to the presence of a large forest area in Scandinavian countries of Western Europe, such as Finland, Sweden etc.

Competitive Landscape

According to the market research analysis, top manufacturers of stump grinders are Wacker Neuson SE, Caterpillar Inc, Bandit Industries, Inc, MTB MFG INC., and MORBARK, LLC.

To increase penetration in profitable markets, the above-mentioned players are opting for organic and inorganic growth strategies, which include launching of new products, mergers, acquisitions, collaborations, and partnerships with small manufacturers or start-ups.

Vermeer Corporation, in 2020, launched a new horizontal stump grinder that is being utilized for land clearing purposes and pipeline operations.

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This release was published on openPR.