The Global forestry machinery market is valued at US$8.5 billion in 2014 and is expected to reach US$9.81 billion by 2022 growing at a CAGR of 4.6% between 2014 and 2022. Source: Patriarc
The factors such as rising demand for advanced machinery, increasing mechanization of farming operations, and technological advancements are driving the market growth.
The growth of forestry machineries is due to huge demand in timber-woods and forest biomass.
Europe is leading the market, accounting for a share of more than 30% of the global market. The Asia Pacific region led by India and China is expected to be the fastest growing region.
The agricultural and forestry machinery market is segmented by product, and geography. Depending on the various products, the market is segmented into agricultural sprays, agriculture and forestry tractors, cultivation machinery, fodder and straw balers, hay and lawn mowers, milking machines, poultry keeping machinery, threshing machinery and others.
Based on geography, the market is segmented into North America, Europe, Asia-Pacific and the Rest of the World.
The key players in the agricultural and forestry machinery market include AGCO Group, Mahindra Group, AGROSTROJ Pelhrimov a.s, Kubota Corp, Same Deutz-Fahr Group, Hubei Machinery and Equipment, Boneng Transmission Co., Kuhn Group, John Deere and Weifang Euroking Machinery.
