The Global Forestry Equipment Market, valued at US$9,559.4m in 2018, is projected to reach US$13,109.9m by the end of 2026, exhibiting a CAGR of 4.09%. The global market is estimated to grow, with an increasing focus on forest management activities according to a report by Fortune Business Insights. Source: Timberbiz
The report titled Forestry Equipment Market Size, Global Market Analysis, Insights and Forecast 2019-2026 points to increasing emphasis of forest management and various goals have been taken into consideration by the forestry industry in order to enhance the quality and quantity of the yield.
According to the report an 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 forestry equipment during the forecast period.
The felling equipment is anticipated to have the highest market share in 2018 due to the growing demand for harvesters, feller bunchers, etc. On-site processing equipment is estimated to grow significantly during the forecast period mainly due to the increasing production of wood pellets as a power plant feedstock.
It is observed that companies are manufacturing modern machinery for forestry in order to increase the efficiency and productivity in all phases of forestry operations without hampering the quality or safety.
Current innovations in logging methods combined with forest science to improve techniques for forest operations, including reducing fire risk, low-impact harvesting have been implemented across the forest industry.
There has been an expansion in the sophisticated machinery in the forest that has the capability of providing multiple outputs.
Forestry equipment companies are manufacturing machines that are purpose-built to be more efficient, safer, cleaner running, and have lower site impacts.
North America 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 machinery on a rental basis, rising government investments in infrastructure development, reduction in capital investments.
Asia Pacific generated a revenue of US$2,101.6m in 2018 and is expected to witness growth owing to increasing in government expenditure for upgrading and rehabilitating the forests across the countries of Asia Pacific.
The report provides qualitative and quantitative insights on the forestry equipment market and detailed analysis of market size and growth rate for all possible segments in the market. The market has been segmented by equipment type and geography.
By equipment type, the market is categorized into felling 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.
Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape.
Various key insights provided in the report are the price trend analysis, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, SWOT analysis, and key industry trends.
