Mulcher Attachment Equipment Market Expected to Reach $828.1 Million by 2032—Allied Market Research

According to a new report published by Allied Market Research, titled, “Mulcher Attachment Equipment Market," The mulcher attachment equipment market size was valued at $525.90 million in 2022, and is estimated to reach $828.1 million by 2032, growing at a CAGR of 4.8% from 2023 to 2032.

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 market.

Major players such as Caterpillar Inc., Bandit Industries Inc., and Alamo Group launched new mulcher attachment equipment in the market. For instance, in February 2022, Caterpillar launched Cat D1 Mulcher, which is equipped with 77.6 kW (104 hp) Cat C3.6 Diesel Engine and closed-loop hydraulics. Cat D1 Mulcher is designed for high performance and efficiency.

Growth in demand for food on account of rapid rise in population has increased the demand for food products, which is expected propel demand for agricultural equipment such as mulching machines, which fuels growth of the mulcher attachment equipment market. 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 growth of global mulcher attachment equipment market.

In addition, governments of various nations offer support for development of agricultural and landscaping activities including subsidies for acquiring equipment and seeds. Subsidies assist in ensuring sufficient food production, decrease food commodity inflation, safeguard farmer incomes, and strengthen construction and agricultural sectors. Developing nations, such as India, offer various subsidies, loan waiver schemes, and other such facilities to improve agriculture production. Furthermore, various international trade pacts across the globe has increased the import and export of agriculture products. For instance, in 2022, the U.S. agricultural and related product exports to Mexico reached $28.4 billion and accounted for about 70% of Mexico’s total food and agricultural food and agricultural import. Thus, the growth of global agriculture sector provides lucrative growth opportunities for mulcher attachment equipment market.

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

Manufacturers in the global mulcher attachment equipment industry had to shut down their businesses activities, due to prolonged lockdowns in countries such as the U.S., India, and Brazil. This break directly impacts sales of mulcher attachment equipment manufacturing companies globally. In addition, lack of raw materials, disruption in supply chain, and lack of manpower 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 market at its full-scale capacities.

The 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 the highest revenue in 2022. By capacity, it is classified into light-duty, medium-duty, and heavy-duty. The heavy-duty segment dominated the market in 2022. On the basis of application, the market is categorized into construction, agriculture, and forestry. The forestry segment generated the highest revenue in 2022.

Region wise, the 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 2022, 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.

Key Benefits for Stakeholders

• The report provides an extensive analysis of the current and emerging Mulcher attachment equipment market trends and dynamics.
• In-depth Mulcher attachment equipment market analysis is conducted by conducting market estimations for key market segments between 2022 and 2032.
• Extensive analysis of the Mulcher attachment equipment market overview is conducted by following key product positioning and monitoring of top competitors within the market framework.
• A comprehensive analysis of all the regions is provided to determine the prevailing opportunities.
• The Mulcher attachment equipment market forecast analysis from 2023 to 2032 is included in the report.
• The key players within the Mulcher attachment equipment market are profiled in this report and their strategies are analyzed thoroughly, which helps understand the competitive outlook of the Mulcher attachment equipment industry.