Global Forestry Equipment Market was valued $9.2 Bn in 2019 and is expected to reach $xx Bn by 2026, at a CAGR of 3.9% during the forecast period.
Global Forestry Equipment Market Introduction
Forestry equipment is particularly built machinery that aids in the completion of various operations such as extraction, logging, and felling. Forestry equipment assists in enhancing job efficiency and lowering labor costs. Because of the rise in agriculture and mining, the worldwide forestry equipment market is in high demand. Forestry equipment manufacturers are investing in the development of technologically advanced heavy equipment in order to increase productivity and precision in forestry operations, which is helping the market grow. The forestry equipment market is being propelled forward by the modernization of these machines with IoT-integrated solutions and cloud computing solutions.
Global Forestry Equipment Market Dynamics
Due to the ever-increasing demand for timer-related products and a scarcity of manpower to satisfy those demands, forestry operations have undergone enormous changes in recent decades. With the use of automated tools and equipment such as forwarders and loggers, among others, the forestry operation is becoming increasingly mechanized, increasing the task's productivity and efficiency. Factors such as increased mechanization rates in developing countries' logging sectors and the increasing usage of cut-to-length logging techniques in developed countries, which are more machine intensive, are also contributing to the market's growth.
Automation has reduced the need for difficult-to-fill occupations while also lowering operating expenses by eliminating labor overhead. Furthermore, in the approaching years, automation will facilitate new dimensions in the forest industry by making tasks simple, productive, and efficient, as well as attaining the required outcome in a short period of time. The market is projected to be driven by robust technological breakthroughs in logging methods, as well as innovations in forest science to improve forest operations such as minimizing fire risks and low-impact harvesting.
Limitations such as product restrictions involving high investment costs, compliance with many standards while producing new products, and regular maintenance requirements to ensure smooth functioning. Furthermore, one of the primary limitations to the market growth are maintaining cost competitiveness in the worldwide market.
Global Forestry Equipment Market Segment Analysis
Skidders and forwarders are two types of extraction equipment. Because of the increasing adoption of equipment that contributes to automated technologies as well as highly mechanized processes, the product segment is expected to develop at a rate of xx%. Because of the growing demand for fast and efficient transit of logged timber from forests to supply locations, forwarders dominated the global extracting equipment category. Mulchers and loaders are types of other forestry equipment.
In 2020, forwarders are estimated to account for more than a quarter of the market. In comparison to other forestry gear, demand for forwarders is predicted to be stronger, as demand for improved and faster transport of logged wood from forests to stock areas grows. Additionally, manufacturers' attempts to increase worker safety, efficiency, and convenience, as well as the longevity of forwarders, are boosting sales. Furthermore, forwarders have the capacity to stockpile big payloads, lowering the cost of forwarding. Because of its increased productivity and efficiency, this is likely to be a prominent segment in the forestry machinery market, which will maintain its dominance during the forecast period.
New building projects on the edges of cities and towns are projected to result in rapid chipping and chopping of plants and trees, thereby increasing the demand for wood chipper equipment. Furthermore, the increased usage of organic mulch for landscaping, gardening, ecological restoration, and substrate for mushroom cultivation is predicted to boost demand for wood chipper machines. The segment is expected to increase due to the rising demand for wood chipper machines from amusement parks and botanical gardens, which need to shape and trim trees on their grounds to maintain aesthetics. Growing demand for the product across businesses that use wood as raw material, such as paper and pulp, and furniture, is likely to drive the market growth.
Global Forestry Equipment Market
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Global Forestry Equipment Market Regional Insights
Global Forestry Equipment Market
In terms of market value, Europe maintained its dominance in 2019, with xx% of the worldwide forestry machinery market share. For forestry machinery, it is expected to remain a leading and fast-growing market. Several government initiatives, such as financial support for rural areas through the common agricultural policy (CAP) and measures taken by EU countries to subsidize forestry activities through national development programs, continue to encourage forestry machinery sales in the region. Furthermore, the region's growing construction industry has increased the need for wooden slabs and pillars, which is driving up demand for forestry equipment.
During the forecasted period, Asia-Pacific will remain the largest and fastest-growing region. Furthermore, the region is expected to have high demand due to an increase in building and construction activities, as well as an increase in demand for woods in home furnishing applications. In addition, the Asia-Pacific region has emerged as a significant producer, user, and exporter of wood products. Industrial Round wood production has increased, but demand is expanding at a faster rate, putting a greater reliance on imports.
Global Forestry Equipment Market Report Scope: Inquire before buying
Global Forestry Equipment Market
Global Forestry Equipment Market, by Region
- North America
- South America
- Asia Pacific
Global Forestry Equipment Market Key Players
- AB Volvo
- Deere Company
- Doosan Infracore Co. Ltd.
- Eco Log Sweden AB
- Hitachi Construction Machinery Co
- Husqvarna AB
- Kesla OYJ
- Epiroc AB
- Komatsu Ltd.
- Sandvik AB
- LiebherrInternational AG
- Volvo Construction Equipment
- Bell Equipment Ltd
- GCP Industrial Products
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