Fact.MR has conducted a comprehensive analysis on the global stump grinder market, which is projected to witness volume demand of 19,039 units in 2021, and is projected to expand at a CAGR of 3.7% by volume through 2031. The industry is saw a decline of 2.3% Y-o-Y in 2020 as the COVID-19 pandemic had adverse effects on the demand outlook. However, the market is estimated to expand 1.6X by the end of 2031.
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According to the latest report by Fact.MR, a market research and competitive intelligence provider, the global market for stump grinders experienced sluggish growth of 1.7% CAGR during the historical period of 2016 to 2020, with the U.K., Russia, U.S., and China leading the global market share.
Growing end user demand due to increasing government investments and rising concerns by regulating bodies regarding the environment are boosting sales of stump grinder machines.
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According to the market research analysis, top manufacturers of stump grinders are Wacker Neuson SE, Caterpillar Inc, Bandit Industries, Inc, MTB MFG INC., and MORBARK, LLC.
To increase penetration in profitable markets, the above-mentioned players are opting for organic and inorganic growth strategies, which include launching of new products, mergers, acquisitions, collaborations, and partnerships with small manufacturers or start-ups.
Similarly, recent developments related to companies offering stump grinders have been tracked by the team at Fact.MR, which are available in the full report.
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For more insights:
https://www.einpresswire.com/article/557143001/worldwide-revenue-share-of-undercarriage-components-for-mini-excavators-is-expected-to-account-nearly-us-6-5-billion
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