Rockville, March 29, 2023 (GLOBE NEWSWIRE) -- According to Fact.MR, a market research and competitive intelligence provider, Europe tub grinder market is estimated at US$ 153 million in 2023 and is expected to expand at an impressive CAGR of 3.9% during the forecast years of 2023-2033.
The rising population and urbanization led to generate huge bio-waste and wood waste which developed a major concern regarding bio-waste management in the European government. This factor has pushed the innovative roadmap of waste management and the tub grinder is one of the innovations in bio-waste management. Tub grinder helps in the reduction of waste size and further deliver to recycling which has grabbed the attention of the European population.
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Furthermore, market players started taking efforts in product development, which make the tub grinder more productive and efficient to increase the focus of rental service industries. Additionally, the intensifying population increased the demand for the residual area, which leads to rising in deforestation in Europe. Hence, the generation of huge among of wood waste owing to deforestation creates a plethora of opportunities for the tub grinder market in Europe. In addition, the growing concern regarding yard waste, feedstock waste, and vegetative debris, can also create a plethora of opportunities for the tub grinder market.
The manufacturing industry is the backbone of the European economy. Whereas the growing manufacturing sector supports the generation of waste, which can be, manage by using a tub grinder. Also, a tub grinder is used in forestry to make biofuels from the fallen timers which will escalate its demand over the projected period. Hence, the above-mentioned factors, will upsurge the rub grinders market over the forecasted period.
Key Takeaways from Market Study
- The Europe tub grinder market is projected to expand at an impressive CAGR of 3.9% and be valued at US$ 224 million by 2033.
- The market witnessed 2.8% CAGR for the period of 2018-2022.
- Under model type, the wheeled tub grinder sub-segment is estimated to grow with a CAGR of 4.2% during the period 2023 to 2033.
- Germany is expected to dominate the market with 25% market share in 2023.
- Based on country, the demand for tub grinder is expected to increase at CAGRs of 2.7% and 3.5%, respectively, in UK and Nordics.
“The Technological Advancement in Tub Grinder Market Can Support the Business Expansion of the Market Players” says Fact.MR analyst.
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Competitive Landscape
The tub grinder manufacturers are taking ample efforts in business expansion as well as to achieve expected revenue growth in the coming years. They are also focusing on inorganic growth strategies such as acquisition, merger, and partnership to upsurge product sales, distribution channels, and dealerships across the Europe and global level. Moreover, they are also participating in different exhibitions to increase product brand awareness. This helps tub grinder manufacturers to improve their revenue growth.
- In November 2021: Morooka a manufacturer of tub grinders has acquired the carbon credit, mainly for forest management as a part of climate change. Morooka continues its contribution to forest conservation. This will support the company in expansion of tub grinders.
- In 2022: Morbark is focusing on the dealer expansion for Mobark tree care division all over the globe to increase divisional sales of the company. This expansion will lead to an increase company’s penetration in the market.
Key Companies Profiled
- Genox
- Green Bull
- Morooka
- Morbark
- Ritchie Bros.
- Vermeer
Market Development
The tub grinder manufacturers show drastic investment in the acquisition, merger, and exhibition participation, to enhance sustainable development and corporate social responsibility like forest conservation. Furthermore, key players are also enhancing product sales by focusing on research and product development.
Fact.MR analysis suggests that the key players have to invest more in product launch and development, to produce automatic tub grinder which will enhance their segmental revenue over the upcoming years.
Segmentation of Tub Grinder Industry Research
- By Model Type:
- Wheeled Tub Grinder
- Tracked Tub Grinder
- By Capacity:
- Up to 150 TPH
- Up to 250 TPH
- Up to 350 TPH
- Up to 450 TPH
- More than 450 TPH
- By Country:
- Germany
- France
- UK
- BENELUX
- Nordics
- Italy
- Spain
- Rest of Europe
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the Europe tub grinder market, presenting historical market data (2018-2022) and forecast statistics for the period of 2023-2033.
The study reveals essential insights on the basis of model type (Wheeled Tub Grinder, Tracked Tub Grinder), capacity (Up to 150 TPH, Up to 250 TPH, Up to 350 TPH, Up to 450 TPH, More than 450 TPH) across major countries of Europe (Germany, France, UK, BENELUX, Nordics, Italy, Spain, rest of Europe).
Key Questions Covered in the Europe Tub Grinder Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Europe Tub Grinder sales grow until 2033?
- Which are the factors hampering the Europe Tub Grinder demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Europe Tub Grinder Market during the forecast period?
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