The global Chainsaw Market is estimated to be valued at US$ 4.22 Bn in 2023 and is expected to exhibit a CAGR of 5.3% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market Overview:
The chainsaw market involves production and sales of chainsaws that are used for cutting wood and other material. Chainsaws come in various sizes for both commercial and domestic usage. They are powered by electric motors or gasoline engines and have a rotating saw chain that helps cut materials easily. Chainsaws provide efficient cutting and are portable for carrying out tasks in remote areas easily. They find major applications in construction, logging, landscaping and disaster management activities.
Market key trends:
One of the major trends in the chainsaw market is the growing demand for cordless electric chainsaws. With advancements in battery technology, cordless electric chainsaws are becoming more powerful yet compact and easy to use. They offer noiseless operation and reduce fuel costs. Manufacturers are focusing on developing longer lasting batteries and compact motors that enhance convenience. Another key trend is the rising popularity of chainsaws with increased safety features. Vendors have equipped new models with automatic chain break, anti-kickback mechanisms, chainsaw chaps and helmets to reduce accident risks during woodcutting activities. This is expected to boost adoption.
Porter’s Analysis
Threat of new entrants: The chainsaw market requires significant capital investment for manufacturing plants and distribution networks. Strict emission and safety regulations also make entry difficult for new players.
Bargaining power of suppliers: A few large multinational companies dominate the supply of electric motors and other key components used in chain saw manufacturing. This gives them significant bargaining power over chainsaw manufacturers.
Bargaining power of buyers: Buyers have moderate bargaining power as there are several established brands to choose from. However, professional forestry and agricultural applications represent a sizeable part of demand.
Threat of new substitutes: While battery-powered electric chainsaws are gaining ground, gas-powered chain saws still dominate for commercial applications due to higher power and longer run-times. Cordless electric tools pose a threat in the consumer segment.
Competitive rivalry: The market is mature and dominated by a few major global players. Intense competition keeps prices and profits low for chainsaw manufacturers.
Key Takeaways
The Global Chainsaw Market Size is expected to witness high growth, exhibiting CAGR of 5.3% over the forecast period, due to increasing commercial construction and expansion of the global mining industry.
Regional analysis
The North American region currently dominates the global chainsaw market, accounting for over 30% share. Government initiatives to increase woodland areas in the US and Canada are driving demand. The Asia Pacific region is expected to be the fastest growing market, led by China, India and other developing countries with expanding forestry and construction industries.
Key players
Key players operating in the chainsaw market are Husqvarna Group, Stiga, Stihl, Robert Bosch, Oregon Tools, Active, Al-Ko Kober, and Einhell Germany. Husqvarna Group and Stihl together control over 50% of the global market, while other players like Active and Einhell Germany are growing strongly in Asia and Europe respectively.
