The market for forest equipment is expected to grow over the forecast period due to the increasing focus of the forestry industry on improving the quantity and quality of yield.
Market Size – USD 9.77 Billion in 2019, Market Growth – CAGR of 4.5%, Market Trends – High demand from developing nations.
The global Forestry Equipment market is forecasted to reach USD 13.94 Billion by 2027, according to a new report by Reports and Data. Increasing round wood production is expected to increase the forestry equipment market demand in the years to come. In addition, rapid technological developments in logging methods, along with forest technology advancements for better forest operations such as low-impact harvesting and reduction of fire risks, are likely to boost the market demand. Also, increasing awareness of forest management and preservation is likely to have a positive impact over the forecast period on request for the forest equipment market.
The significant drivers of market growth include manufacturers’ technological advances in equipment, an increase in mechanization rates in Asia Pacific’s emerging economies, and changes in logging methods associated with cut-to-length techniques. Besides, modernization is expected to have a positive impact on market growth in the manufacturing and machinery industries. Rising awareness of environmental sustainability has led to a boost to deforestation-related regulations and policies. This, in turn, is projected to positively impact the forestry equipment demand due to its thinning capability, which is considered environmentally friendly and allowed by law in different countries. In recent years, rapid population growth has resulted in increased demand for food, contributing to forest conversion into arable land for cultivation, anticipated to fuel demand for mechanized forest cutting techniques while propelling business growth for forest equipment.
Furthermore, the report is furnished with the latest impact of the COVID-19 pandemic on the market. The pandemic has affected every segment of the market, along with bringing disruption in the supply chain, demands & trends, and financial difficulties. The report covers the initial and future assessment of the COVID-19 impact on the market.
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Geographical Segmentation:
The report essentially evaluates the significant presence of the global Forestry Equipment market across the world’s major regions. The global Forestry Equipment market has been categorized into several key geographical regions. North America, Asia Pacific, Europe, Latin America, and the Middle East & Africa are the leading Forestry Equipment market regions. In this section of the report, the authors have examined the market share, market size, revenue contribution, sales network, distribution channels, and numerous other aspects of each geographical segment.
Reports and Data’s latest report sums up the significant changes in the global business sector that followed the COVID-19 outbreak. The pandemic has also had an enormous impact on the global Forestry Equipment market, disrupting the market dynamics and trends. The global health crisis has gravely affected the Forestry Equipment industry, disrupting the global supply chains and bringing about volatility in prices and product demand. However, industry experts believe that the global Forestry Equipment market will regain traction in the post-COVID scenario. The report further offers a preliminary and a future assessment of the pandemic’s impact on this lucrative business space.
Key findings of the report:
Based on type, Extracting Equipment generated a revenue of USD 3.06 billion in 2019. It is projected to rise with a CAGR of 4.6% in the forecast period, due to rising public and private investment in highway construction through forest landscape influences wheeled feller buncher use coupled with increasing requests for vegetation management and land clearing for the development of transport infrastructure.
The forestry sector is the major contributor to the Forestry Equipment market. The forestry area of the North America region is the major shareholder of the market and held around 48.7% of the market in the year 2019, as they become indispensable, especially since the advent of mechanized agriculture along with the sophisticated industrial sensing solutions that are essential for efficient operation.
North America dominated the market for Forestry Equipment in 2019. The region’s consistent focus on cost-effective and innovative procedures that are adopted in the area is driving the market. The North America region held approximately 32.0% of the market, followed by Europe, which contains around 30.0% market in the year 2019.
Key participants include Doosan Infracore Co. Ltd., Hitachi Construction Machinery Co., Deere & Company, Caterpillar Inc., Tigercat International Inc., Komatsu Forest, Barko Hydraulics L.L.C., AB Volvo, STHIL Holding AG & Co. KG, and Morbark L.L.C., among others.
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For the purpose of this study, the global Forestry Equipment market has been segmented on the basis of disease type, application, distribution channel, and region:
Type Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
Felling Equipment
Extracting Equipment
On-Site Processing Equipment
Other Forestry Equipment
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
Online
Offline
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
Agriculture
Forestry
Others
Table Of Contents:
Chapter 1. Market Synopsis
1.1. Market Definition
1.2. Research Scope & Premise
1.3. Methodology
1.4. Market Estimation Technique
Chapter 2. Executive Summary
2.1. Summary Snapshot, 2019-2027
Chapter 3. Indicative Metrics
Chapter 4. Forestry Equipment Market Segmentation & Impact Analysis
4.1. Forestry Equipment Market Material Segmentation Analysis
4.2. Industrial Outlook
4.2.1. Market indicators analysis
4.2.2. Market drivers analysis
4.2.2.1. Increasing use of wood pellets for industrial and household application globally
4.2.2.2. Innovation of technically advanced forwarders & harvesters across the globe
4.2.2.3. Growing awareness related to forestry mechanization globally
4.2.3. Market restraints analysis
4.2.3.1. Concerns pertaining to high initial & maintenance cost
4.3. Technological Insights
4.4. Regulatory Framework
4.5. ETOP Analysis
4.6. Porter’s Five Forces Analysis
4.7. Competitive Metric Space Analysis
4.8. Price trend Analysis
4.9. Customer Mapping
4.10. Covid-19 Impact Analysis
4.11. Global Recession Influence
Continued…
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