Global Mulcher Attachment Equipment Market To Grow At CAGR Of 5 And Reach USD 0.8 Bn In 2030

According to a new report published by Allied Market Research, titled, "global mulcher attachment equipment market by vehicle type, capacity, application, and region: opportunity analysis and industry forecast, 2021-2030," the global mulcher attachment equipment market size was $0.48 billion in 2020, and is expected to reach $0.80 billion by 2030, with a CAGR of 5.0% from 2021 to 2030. In 2020, North America dominated the global mulcher attachment equipment, in terms of revenue, accounting for about 38.90% share.

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Mulcher attachment products have features such as high torque, high speed, less maintenance, low noise level, and better torque to weight ratio. This mulching machine is used in various applications such as construction, land clearing, and vegetation applications. Such instances drive growth of the mulcher attachment equipment.

Major players such as Caterpillar Inc., Bandit Industries Inc., and Alamo Group launched new mulcher attachment equipment to the market. For instance, in January 2018, Bandit Industries Inc. launched a new BTC-300 track carrier for land clearing and agricultural applications. It has features such as powerful, innovative design, and comfortable cabin. It is best suitable for agriculture, land scaping, and vegetation applications.

Growth in demand for food on account of rapid rise in population has generated the need for converting lands into cultivate lands, which is expected propel demand for mulching machines, which fuels growth of the mulcher attachment equipment. In addition, rise in demand for mulching equipment for wildlife conservation for maintaining animal habitat, which in turn, increases demand for mulcher attachment equipment to maintain vegetation and landscaping, drives the global mulcher attachment equipment market growth.

However, fluctuations in raw material prices and high cost required for mulching attachment products drive the growth of the global market. Moreover, technological innovations in mulching machines are anticipated to provide lucrative opportunities for growth of the mulcher attachment equipment.

Various manufacturers in the global mulcher attachment equipment had to shut down their businesses activities, COVID-19 lockdowns initiated in countries such as the UAE, India, and Brazil. This break has directly impacted sales of mulcher attachment equipment manufacturing companies globally. In addition, lack of raw materials, disruption in supply chain, and lack of man power halted supply chain of mulcher attachment equipment products. However, re-initiation of the mulcher attachment equipment industry and availability of vaccines for coronavirus disease are projected to lead to opening of the global mulcher attachment equipment at their full-scale capacities.

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The global mulcher attachment equipment market is segmented on the basis of vehicle type, capacity, application and region. On the basis of vehicle type, the market is divided into excavators, skid steer loaders, and others. The skid steer loaders segment generated highest revenue in 2020. By capacity, it is divided into light-duty, medium-duty, and heavy-duty. The heavy-duty segment dominated the market in 2020. On the basis of application, the market is categorized into land clearing, agriculture, and others. The forestry segment generated highest revenue in 2020.

Region wise, the global mulcher attachment equipment market analysis is conducted across North America (the U.S., Canada, and Mexico), Europe (the UK, France, Germany, Italy, and Rest of Europe), Asia-Pacific (China, Japan, India, and Rest of Asia-Pacific), and LAMEA (Latin America, the Middle East, and Africa). In 2020, North America was the highest contributor to the global mulcher attachment equipment market share, and is anticipated to secure a leading position during the forecast period. 

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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

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