Asia-Pacific is the biggest region in terms of geography. The region has two of the top three countries in terms of PPP globally, China and India. There has been increasing commercialization of wood products that fuel the wood industry's growth in the region. Fuelwood and charcoal have been in demand in the past and will continue to see a rise in demand in the coming decades. Developing countries such as India still use firewood for cooking and in various industries. China is at the forefront of the use of wood that is used in various end-use industries. The demand for products made of natural woods is finding more interest, further propelling market growth. Furthermore, as per the International Forest Review, around 70 percent of China's timber imports are supplied from various countries in the Asia Pacific region. Furthermore, growing construction activities in economies such as India, Indonesia, Malaysia, and China will further create growth opportunities for the chain saw market used extensively in the construction industry.
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COVID -19 Impact Analysis
The COVID-19 pandemic has created a lull in the market demand globally. With countries resorting to trade restrictions and following policies to boost domestic production to mitigate the dependency on other global players such as China, the demand for wood and lumbering industry is expected to decline in the coming months. Numerous industries and individual businesses have been suffering due to low cash flow. This, coupled with the low demand for wood used in the various industries, will directly impact the chainsaw market growth in the year 2020. However, governments are taking active steps to revive the economy and demand in terms of economic aid.
With the easing up of the lockdown measures and the revival of the supply chain sector along with the transportation industry is anticipated to act as a catalyst and jump-start the economic demand once again, which may prove beneficial for the lumbering, construction, and other allied industries hence creating demand for chainsaw market in the coming months.
Chainsaw Market: Key Players
Chainsaw Market: Segmentation
Central and South America and the Caribbean
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