Technavio analysts forecast the global chainsaw market to grow at a CAGR close to 5% during the forecast period, according to their latest market research report.
The growing consumer preference for cordless chainsaws is one of the major trends being witnessed in the global chainsaw market 2019-2023. Electric-powered chainsaws are gaining popularity due to decreased emissions as compared with gas-powered chainsaws. Among electric-powered chainsaws, the corded chainsaws have a power cord, which restricts the movements of the user to a certain distance due to its length.
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According to Technavio analysts, one of the key factors contributing to the growth of the global chainsaw market is the increasing deforestation due to rising demand for commodities:
Global chainsaw market: Increasing tropical cyclones due to climate change
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Chainsaws are required for felling of trees and to clear trees, which fall or get uprooted due to natural calamities like tropical cyclones. Along with the frequency, the intensity of tropical cyclones has also increased. This is due to the increase in the average temperature in the world. According to the Goddard Institute for Space Studies (GISS) in the US, the world temperature increased by almost 1-degree Celsius in 2017 compared with the average temperature during 1951-1980. Because of the increased temperature, the oceans get warmer, resulting in more intense cyclones.
According to a senior research analyst at Technavio, The increasing frequency and intensity of cyclones have resulted in increasing damage to structures such as buildings and trees. Stronger trees can get uprooted due to higher wind speeds or gradual weakening of roots by more frequent cyclones.
Global chainsaw market: Segmentation analysis
The global chainsaw market research report provides market segmentation by product (Gas-powered and Electric-powered), by end-user (commercial end-user and non-commercial end-user), and by region (the Americas, EMEA, and APAC). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the two major products, the gas-powered segment held the largest market share in 2018, contributing close to 60% of the market. This product segment will dominate the global market throughout the forecast period.
The Americas held the largest share of the market in 2018, accounting for close to 47% share. It was followed by EMEA and APAC respectively. Although APAC held the smallest share of the market, it is expected to witness the maximum increase in its market share over the forecast period owing to the presence of a large patient pool and improvements in hospital infrastructure in the region.
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Five Forces Analysis
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- Vendors covered
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- Competitive scenario
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