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The global forestry equipment market size which was valued at US$ 9,559.4 Mn in 2018 and is projected to reach US$ 13,109.9 Mn by 2026, exhibiting a CAGR of 4.1% during the forecast period (2019 – 2026)
The global market is estimated to grow, with an increasing focus on forest management activities. Furthermore, with the increasing emphasis of forest management, various goals have been taken into consideration by the forestry industry in order to enhance the quality and quantity of the yield. This, in turn, will skyrocket the demand for forestry equipment. Additionally, the increase in the investments across the forestry industry is supplementing the overall growth of the global forestry equipment market. However, the foresters and forest owners are looking after enhancing the silviculture, which allows them to inculcate forest management plans for the long-term economic, social, and environmental needs of the end-users. Furthermore, with the growth in the production of industrial roundwood, there will be a significant demand for the forestry equipment during the forecast period, which will bode well with the global forestry equipment market.
The felling forestry equipment is anticipated to have the highest market share in 2018 due to the growing demand of harvesters, feller bunchers etc. On-site processing equipment in the global forestry equipment market is estimated to grow significantly during the forecast period mainly due to the increasing production of wood pellets as a power plant feedstock.
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"Demand For Modern Equipment for Forest Industry is Flourishing the Global Forest Equipment Market"
It is observed that companies are manufacturing the modern forestry machinery in order to increase the efficiency and productivity in all phases of forestry operations without hampering the quality or safety. Furthermore, current innovations in the logging methods combined with the forest science to improve techniques for forest operations, including reducing fire risk, low-impact harvesting have been implemented across the global forestry equipment market.
There has been an expansion in the sophisticated forestry machinery in the forest that have the capability of providing multiple outputs. For example, advance logging equipment can process an entire tree into log lengths in one motion, thereby improving safety, saving time, and reducing impacts on the environment. Moreover, computer systems are incorporated into forest machinery, that can help in offer less energy use, a cleaner environment, optimized performance, and greater wood utilization. Therefore, forestry equipment companies are manufacturing machines that are purpose-built to be more efficient, safer, cleaner running, and have lower site impacts.
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"Increasing investment by the government is supplementing the revenue growth of the North America, whereas Asia Pacific is estimated to have a significant growth"
North America valued at US$ 3,161.0 Mn in 2018 and is anticipated to emerge dominant in the global forestry equipment market during the forecast period. Growth witnessed in the region is likely to be driven by the emergence of online retail facilities, availability of forestry equipment on rental basis, rising government investments in infrastructure development, reduction in capital investments. Similarly, the region being a major original forestry equipment manufacturer base for forestry equipment tyre, is expected to be one of the major consumers of OEM forestry equipment tyre at a global level owing to growth in construction, manufacturing and energy sectors. Also, it is being anticipated that US will record the largest increases of the forestry equipment market during the forecast period, supported by the acceleration in the economic activity and construction expenditures, a healthy capital spending environment, and growth in roundwood output.
Asia Pacific generated a revenue of US$ 2,101.6 Mn in 2018 and is expected to witness growth owing to increasing in government expenditure for upgrading and rehabilitating the forests as well as the forestry equipment across the countries of Asia Pacific
North America Forestry Equipment Market, 2018
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"The increasing focus on infrastructure and development of automation in the construction and manufacturing processes had a significant impact on the market growth."
The report provides qualitative and quantitative insights on the forestry equipment market and detailed analysis of market size & growth rate for all possible segments in the market. The market has been segmented by equipment type, and geography. By equipment type, the forestry equipment market is categorized into felling forestry equipment, extracting equipment, on-site processing equipment, cutting & loading equipment, and other equipment. Geographically, the market is segmented into five major regions, which are North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The regions are further categorized into countries.
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Along with this, the report provides elaborative analysis of the global forestry equipment market dynamics and competitive landscape. Various key insights provided in the report are the price trend analysis, recent industry developments in the field of forestry equipment such as mergers & acquisitions, the regulatory scenario in key countries, SWOT analysis, and key industry trends.
By Equipment Type
Fortune Business Insights says that the value of the global Forestry Equipment Market was USD 9,559.4 Million in 2018
The Forestry Equipment Market is projected to reach USD 13,109.9 Million by 2026
The Forestry Equipment Market will grow at the rate of 4.1% CAGR