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:
Chainsaw is a portable mechanical saw with a serrated or toothed blade linked to a long chain which is rotated by an internal combustion engine or electric motor to cut material into smaller pieces by sawing. Chainsaws can be gas powered or electric powered and are used to cut wood or logs for lumber, firewood, pulpwood and for tree surgery or land clearing. Chainsaws effectively cut through wood and tree branches of varying sizes with more control and precision compared to other cutting tools.
Market key trends:
The global chainsaw market is witnessing significant growth owing to increasing demand for wood processing across construction and furniture industries. The demand for wood has increased substantially for construction of residential and commercial spaces which has propelled chainsaw usage for felling, limbing and bucking applications. Moreover, growing residential and infrastructure construction activities across developing regions of Asia Pacific and Latin America has augmented wood consumption and subsequent demand for chainsaws. The shift towards battery powered electric chainsaws is also providing growth opportunities to market players as these saws are environmental friendly, lightweight and convenient to use compared to gas powered variants. Key players are focusing on new product launches catering to various end use requirements to further drive the market growth over the forecast period.
Porter's Analysis
Threat of new entrants: Low barriers like no requirement of huge capital reduces threat of new entrants however strong brand loyalty towards existing players poses challenge.
Bargaining power of buyers: Large number of chainsaw manufacturers gives high bargaining power to buyers to negotiate on price.
Bargaining power of suppliers: Few component suppliers like those providing engine, saw chain etc possess bargaining power over manufacturers.
Threat of new substitutes: Cordless chainsaws and battery operated tools pose threat as substitutes.
Competitive rivalry: Intense competition exists among established players like Husqvarna Group, Stiga, Stihl leading to higher R&D and frequent new product launches.
SWOT Analysis
Strength: Strong brands, wide distribution network and technical expertise of major players. Product innovation and continuous technology upgradation.
Weakness: Seasonal demand and dependency on timber industries fluctuations. High manufacturing and R&D costs incurred.
Opportunity: Untapped rural markets in developing regions offer scope. Growth in gardening and landscaping activities boosts demand.
Threats: Stringent regulations on fuel emissions pose challenges. Rising environmental concerns and shift to electric tools acts as a threat.
Key Takeaways
The Global Chainsaw Market Size is expected to witness high growth at a CAGR of 5.3% over the forecast period, due to increasing application in woodcutting, tree services and land clearing activities across forestry and construction industries.
North America currently dominates the market owing to large scale lumber industries in Canada and United States. Europe takes the second position led by countries like Sweden, Germany and Finland. Asia Pacific is projected as the fastest growing market for chainsaws driven by infrastructure development activities and expansion of forestry sector in China, India and Southeast Asian nations.
Key players operating in the chainsaw market are Husqvarna Group, Stiga, Stihl, Robert Bosch, Oregon Tools, Active, Al-Ko Kober, Einhell Germany, Cobra, and Emak Group. Major companies are focused on expanding their manufacturing bases and distribution networks across high potential emerging countries.
Read more
https://www.ukwebwire.com/chainsaw-market-size-share-growth-outlook-2023/
