Forestry Equipment Market Size, Revenue Analysis, Industry Outlook, Forecast, 2017-2027

Forestry Equipment Market
Forestry Equipment Market

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.

It is projected that the emergence of online stores providing forestry equipment, increasing government investment in the construction and infrastructure industry, and the availability of rented forestry machinery will drive market growth. Besides, rising incidences of forest rehabilitation and upgrading in the Asia Pacific are anticipated to impact the growth of the market for forest equipment. Major market players invest in R&D activities to develop modern forestry machinery capable of boosting forestry operations’ efficiency without obstructing safety and quality. Increasing significant players’ emphasis on new product growth, including developing harvesters to improve productivity, deployment in adverse terrain conditions, and boosting performance, is also anticipated to help manufacturers gain a significant share of the market for forest machinery.

However, the parameters that hinder market growth include high investment costs, the need for periodic maintenance to ensure smooth operations, and compliance with numerous regulations that make it difficult for market players to develop the new product. Maintaining competitiveness at international cost is anticipated to curb market growth.

The COVID-19 impact:
As the COVID-19 crisis is rising, producers are rapidly changing their activities and purchasing strategies for the Forestry Equipment market. A sequence of positive as well as negative shocks will arise over a few months as producers and their vendors adapt to changing customer demands. Many regions look vulnerable to export-dependent economies, with an unfortunate global situation. The impact of this pandemic will reshape the global Forestry Equipment markets when certain manufacturers either close down or decrease their production due to a lack of downstream demand. At the same time, some have their production suspended by their respective governments as a precautionary measure to combat the spread of the virus. In other nations, while looking at the severity of the outbreak and the national authorities’ consequent behaviour, customers are cantered on becoming more local.

Get a sample of the report @ https://www.reportsanddata.com/sample-enquiry-form/3661

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.

Further key findings from the report suggest

  • 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.

Browse Complete Report “Forestry Equipment Market” @ https://www.reportsanddata.com/report-detail/forestry-equipment-market

For the purpose of this report, Reports and Data have segmented into the global Forestry Equipment market on the basis of type, distribution channel, application, 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

Regional Analysis Covers:

  • North America (U.S., Canada)
  • Europe (U.K., Italy, Germany, France, Rest of EU)
  • Asia Pacific (India, Japan, China, South Korea, Australia, Rest of APAC)
  • Latin America (Chile, Brazil, Argentina, Rest of Latin America)
  • Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)

Scope of the Forestry Equipment Market Report:

The report offers an extensive assessment of the growth rate and the market size based on the dynamics of the industry and the factors influencing the growth of the market. The report is formulated through authentic sources and verified and validated by industry experts. The report has been formulated through extensive primary and secondary research. It also covers the evaluation of market and competitive landscape along with SWOT analysis and Porter’s Five Forces analysis of the leading companies.

Request customization on the report @ https://www.reportsanddata.com/request-customization-form/3661

Moreover, the report offers an accurate forecast estimation through a thorough analysis of the historical data (2017-2018) while considering 2019 as the base year. The data offers a panoramic view of the market, assisting the readers to gain valuable insights into the Forestry Equipment market. To impart better understanding of the market, the key statistical data is organized into pictorial representations such as charts, graphs, tables, diagrams, and figures.

Thank you for reading our report. For more inquiry or query on customization, kindly get in touch with us. Our team will ensure you get the best report suited to your needs.

Browse Our Related Reports:

Autoclaved Aerated Concrete (AAC) Market Application

Industrial Metal Detectors Market Competition landscape

Electric Elevator and Escalator Market Asia Pacific

Green Cement Market Canada

Facade Systems Market Unites States

About Us:

Reports and Data is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target and analyze consumer behavior shifts across demographics, across industries and help client’s make a smarter business decision. We offer market intelligence studies ensuring relevant and fact-based research across a multiple industries including Healthcare, Technology, Power and Energy, and Chemicals. We consistently update our research offerings to ensure our clients are aware about the latest trends existent in the market.

Contact Us:

John W

Head of Business Development

Reports and Data | Web: www.reportsanddata.com

Direct Line: +1-212-710-1370

E-mail: [email protected]

Read Our Innovative Blogs @ https://www.reportsanddata.com/blogs

Read Full Press Release: https://www.reportsanddata.com/press-release/global-forestry-equipment-market

You may also like...

Leave a Reply

Your email address will not be published. Required fields are marked *