The global log splitters market revenue was around US$ 2.8 billion in 2023 and is estimated to reach US$ 4.1 billion by 2032, growing at a compound annual growth rate (CAGR) of 4.4% during the forecast period from 2024 to 2032.
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A log splitter can simply be described as a machine or equipment that is utilized in cutting all kinds of wood for different purposes. It can be used both commercially and domestically. An electrical or hydraulic rod and piston assembly is a standard component of log splitters. It can be used for splitting firewood from hardwood or softwood logs that have been pre-cut into round sections, usually by saw bench or chainsaw.
Factors Influencing Market Growth
– The log splitters market is surging across the world due to a significant increase in do-it-yourself (DIY) home improvement projects and a rise in the demand for renewable energy sources. For instance, wood is considered a renewable energy source due to which it is used for heating purposes and for producing firewood in rural areas. Additionally, individuals are surging in investing in their houses and outdoor living spaces. Therefore, the log splitters are used for flooring, doors, wall paneling, and others for home improvement projects.
– Vast R&D in the log splitters market such as the introduction of powerful hydraulic systems and efficient design is predicted to create opportunities in the market. For instance, the newly introduced log splitters feature a well-designed and powerful hydraulic system with the usage of high-quality hydraulic valves, pumps, and cylinders. This assists in increasing the speed of wood-cutting operations and surging the force of the splitting machine.
– Some log splitters make extreme vibration and noise which is negatively impacting the market growth.
Impact of COVID-19
The COVID-19 pandemic had a significant negative impact on the market. The pandemic caused disruptions in global supply chains that led to a decrease in the availability of materials and components needed for the manufacturing of log splitters thereby leading to delays in delivery and production. Furthermore, the pandemic resulted in changes in consumer buying behavior and economic uncertainties. The shortage of labor, closure of manufacturing facilities, and others affected the production of log splitters leading to longer lead times for buyers.
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Regional Insights
In 2023, North America dominated the market in terms of the rate. The increase in demand for log splitters in the region is majorly attributed to its usage as a famous heating source in colder regions. Additionally, the surged requirement for price-effective and renewable heating solutions is leading to a surge in the demand for log splitters in this region.
Asia Pacific dominates the market in terms of the fastest growth. This is mainly due to the increasing business and consumer demand as well as surging knowledge of the benefits of log splitters in this region.
Leading Competitors
The leading competitors in the global log splitters market are:
– Ariens
– Boss Industrial
– Champion Power Equipment Inc
– Iron & Oak
– Dirty Hand Tools
– Swisher
– Brave Products
– Troy-Bilt
– YARDMAX
– NorthStar
– Others
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Segmentation Analysis
The global log splitters market segmentation focuses on Tonnage, Application, Type, and Region.
Segmentation based on Tonnage
– Less than 15 tons
– 15 to 30 tons
– Above 30 tons
Segmentation based on Application
– Domestic
– Commercial
Segmentation based on Type
– Gas Powered
– Manual
– Electric
Segmentation based on Region
– North America
– The U.S.
– Canada
– Europe
– UK
– Germany
– France
– Italy
– Spain
– Netherlands
– Rest of Europe
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– Asia-Pacific
– China
– Japan
– India
– Australia
– South Korea
– Singapore
– Rest Of Asia-Pacific
– LAMEA
– Latin America
– Middle East
– Africa
These responses will function a complete examination of the:
- The markets’ present-day infrastructures
- Market possibilities and challenges
- Future plausible for increase in particular industries
- Major geographic and market segments to target, and end-user goal organizations and their viable operational volumes
- Representative and a price chain probability breakdown
- Market dimension and boom price during the expected time frame.
- The market’s important using forces
- Key market traits are impeding market expansion.
- Obstacles to market expansion.
- Market’s pinnacle merchants.
- Thorough SWOT analysis
- Threats and possibilities confronted with the aid of the modern carriers in the world market.
- Trending elements that affect the markets in the quite a number region.
- Initiatives with a strategic center of attention on the pinnacle vendors.
- PEST find out about of the five essential market regions.
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