“Global Log Splitters Market to reach a market value of USD 4 Billion by 2031 growing at a CAGR of 4.7%”
The Global Log Splitters Market size is expected to reach $4 billion by 2031, rising at a market growth of 4.7% CAGR during the forecast period. In the year 2023, the market attained a volume of 5,060.3 thousand units, experiencing a growth of 14.3% (2020-2023).
The rise of glamping (luxury camping) and outdoor hospitality venues such as campgrounds, eco-resorts, and recreational parks has increased the demand for firewood for use in outdoor fire pits, grills, and wood-fired stoves. Thus, the Commercial segment acquired $2,229.0 million revenue in 2023. Also, the Canada market would utilize 262.8 thousand units of Log Splitters in Commercial segment by 2031. Log splitters are essential for these businesses to prepare firewood for their guests, ensuring a comfortable and enjoyable outdoor experience.
Wood-burning stoves and fireplaces have gained popularity as people seek alternative heating methods to reduce energy costs or for ambiance. This trend increases the demand for firewood, boosting the need for log splitters to process wood into manageable sizes for burning. Hence, increasing demand for firewood is driving the growth of the market.
Additionally, as the forestry industry expands to meet the growing demand for wood products such as lumber, plywood, and wood chips, there is a corresponding need for efficient wood processing equipment like log splitters. Hence, the expansion of forestry and woodworking industries is propelling the market’s growth.
However, for individual consumers, especially homeowners or small-scale firewood suppliers, the upfront cost of purchasing a log splitter can be prohibitive. Many potential buyers may find it challenging to justify the expense, particularly if they only require occasional use or have limited budgets for equipment purchases. Thus, high initial investment costs are hampering the growth of the market.
By type, the market is divided into gas powered, manual, and electric. The gas powered segment procured a remarkable 32.2% revenue share in the log spitters market in 2022. In terms of volume, the gas-powered segment would utilize 627.7 thousand units of log splitters by 2031. A gasoline engine powers gasoline log splitters, which are perfect for larger jobs.
Based on tonnage, the market is divided into less than 15 tons, 15 to 30 tons, and above 30 tons. In 2022, the less than 15 tons segment garnered 48.3% revenue share in the market. In terms of volume, the less than 15 tons segment would utilize 5,516.1 thousand units of log splitters by 2031. Log splitters in the less than 15 tons segment are often preferred by residential users for processing firewood for heating purposes.
On the basis of application, the market is segmented into domestic and commercial. The commercial segment recorded the maximum 80% revenue share in the market in 2022. In terms of volume, the commercial segment would utilize 5,709.0 thousand units of log splitters by 2031. Commercial log splitters are used for bulk production and are typically much larger and heavier than the ones used at home.
Free Valuable Insights: Global Log Splitters Market size to reach USD 4 Billion by 2031
Region-wise, the market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The North America region witnessed 35.3% revenue share in the market in 2022. In terms of volume, the North America region would consume 2,777.2 thousand units of log splitters by 2031. North America has vast forested regions, including dense forests in Canada and the United States.
| Report Attribute | Details |
|---|---|
| Market size value in 2023 | USD 2.8 Billion |
| Market size forecast in 2031 | USD 4 Billion |
| Base Year | 2023 |
| Historical Period | 2020 to 2022 |
| Forecast Period | 2024 to 2031 |
| Revenue Growth Rate | CAGR of 4.7% from 2024 to 2031 |
| Quantitative Data | Volume in Thousand Units, Revenue in USD Billion, and CAGR from 2020 to 2031 |
| Number of Pages | 269 |
| Number of Tables | 670 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Porter’s 5 Forces Analysis, Company Profiling, Companies Strategic Developments, SWOT Analysis, Winning Imperatives |
| Segments covered | Type, Tonnage, Application, Region |
| Country scope |
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| Companies Included | AriensCo, Great Northern Equipment Distributing, Inc. (Iron & Oak), Troy-Bilt LLC (Stanley Black & Decker, Inc.), Champion Power Equipment, Inc., Swisher Acquisition Inc, Boss Industrial Inc., Powerking Corporation, WEN Products, Husqvarna Group, Ardisam, Inc. (Earthquake Outdoor Power Equipment) |
By Application (Volume, Thousand Units, USD Billion, 2020-2031)
By Type (Volume, Thousand Units, USD Billion, 2020-2031)
By Tonnage (Volume, Thousand Units, USD Billion, 2020-2031)
By Geography (Volume, Thousand Units, USD Billion, 2020-2031)
This Market size is expected to reach $4 billion by 2031.
Increasing demand for firewood are driving the Market in coming years, however, High initial investment costs restraints the growth of the Market.
AriensCo, Great Northern Equipment Distributing, Inc. (Iron & Oak), Troy-Bilt LLC (Stanley Black & Decker, Inc.), Champion Power Equipment, Inc., Swisher Acquisition Inc, Boss Industrial Inc., Powerking Corporation, WEN Products, Husqvarna Group, Ardisam, Inc. (Earthquake Outdoor Power Equipment)
In the year 2023, the market attained a volume of 5,060.3 thousand units, experiencing a growth of 14.3% (2020-2023).
The Electric segment is leading the Market by Type in 2023; there by, achieving a market value of $2 billion by 2031.
The North America region dominated the Market by Region in 2023, and would continue to be a dominant market till 2031; there by, achieving a market value of $1.3 billion by 2031.
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