The North American region has emerged as a significant player in the global chainsaw market, contributing one-third of its impressive $2.9 billion size as of November 30th, 2023. The region’s preference for wood furniture in construction and the increased need for firewood during colder seasons are driving the market’s robust growth.
By 2032, North American region is expected to dominate the market share, driven by the increasing demand for chainsaws in the furniture and construction sectors, particularly in the United States. According to Precedence Research, the U.S. chainsaw market would be valued at US$0.91 billion in 2023 and is projected to reach approximately US$1.21 billion by 2032, exhibiting a CAGR of 3.30% from 2023 to 2032.
This growth can be attributed to the growing number of construction and infrastructure projects in the region.
The demand for wood in construction activities further contributes to the expansion of the market.
The latest report from the National Association of Home Builders reveals that 93% of homes in the United States were constructed using wood framing, highlighting the widespread preference for wood as a construction material. In contrast, concrete framing accounted for only 7% of homes.
Additionally, the rising demand for landscaping solutions among consumers drives the regional market’s growth. Furthermore, the need for firewood increases during periods of heavy snowfall and cold weather, further boosting the regional market.
According to recent data from the US Census Bureau, construction spending in March 2023 reached a seasonally adjusted annual rate of US$1,834.7 billion, representing a 3.8% increase compared to the previous year. Residential construction expenditure in March 2023 amounted to US$827.7 billion, showing a 1.3% increase from the previous month. Similarly, official data indicates that investment in residential building construction in Canada increased by 1.1% in February, reaching CA$15.0 billion, with single-family house investments contributing significantly to the overall gain.
Construction spending has seen positive growth, with a significant increase in residential construction expenditure. Rapid urbanization, industrialization, and population growth further contribute to the rising demand for chainsaws.
In conclusion, the data supports the notion that North America, particularly the United States, is poised to dominate the chainsaw market by 2032, securing the largest share. The preference for wood framing in residential construction, as evidenced by the National Association of Home Builders’ report, underscores the popularity of wood as a construction material. Furthermore, the growing demand for landscaping solutions and the increased need for firewood during colder seasons contribute to the regional market’s growth. With positive construction spending trends and factors such as rapid urbanization, industrialization, and population growth, the demand for chainsaws in North America is expected to continue rising, solidifying the region’s dominance in the chainsaw market.
