The new report by Expert Market Research titled, ‘Global Forestry Equipment Market Report and Forecast 2021-2026’, gives an in-depth analysis of the global forestry equipment market, assessing the market based on its segments like product, power, and major regions. The report tracks the latest trends in the industry and studies their impact on the overall market. It also assesses the market dynamics, covering the key demand and price indicators, along with analyzing the market based on the SWOT and Porter’s Five Forces models.
Note 1: For a snapshot of the primary and secondary data of the market (2016-2026), along with business strategies and detailed market segmentation, please click on the request sample report. The sample report shall be delivered to you within 24 hours.
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The key highlights of the report include:
Market Overview (2016-2026)
- Historical Market Size (2020): USD 10.3 Billion
- Forecast CAGR (2021-2026): 4%
- Forecast Market Size (2026): USD 13 Billion
The demand for forest products such as woods, herbs, and other minerals has specifically grown in recent years due to growing awareness and health concerns, which are expected to strengthen the market growth in the coming years as well. Due to this increasing demand, businesses are calling new and heavy-duty forestry equipment. These machines can be used for chopping, segregation, collection, for storing logs and other products smoothly. The need for precision and fuel-efficiency and significant technological advancements by the major players of this industry is driving the market at a steady rate.
Industry Definition and Major Segments
Forestry refers to the science or art of planting, managing, and caring for forests. The equipment that facilitates this practice is called forestry equipment. Agriculture and forestry are among the oldest industries practiced by mankind. Over the past years, we have grown more dependent on agricultural products and forestry.
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On the basis of product, the forestry equipment market is segmented into:
· Feller Bunche
Based on power, the market is bifurcated into:
The regional markets for forestry equipment include:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
The forestry equipment industry is expected to observe decent growth due to the increasing awareness about forest preservation and related practices in both developed and developing countries. The transition of forestry operations from manual work to the automated mode of functioning in forests is likely to drive the demand for forestry equipment during the forecast period. Increasing technological advances such as introduction of GPS tracking and monitoring machines is helping the market advance. Furthermore, an expanding construction sector is expected to boost the demand for forestry products, in turn, pushing the demand for forestry equipment further in the forecast period.
Key Market Players
The major players in the market are Deere Company, Komatsu Ltd., Hitachi Construction Machinery Co. Ltd., Barko Hydraulics, LLC, Caterpillar Inc., and Rottne Industry AB, among others. The report covers the market shares, capacities, plant turnarounds, expansions, investments and mergers and acquisitions, among other latest developments of these market players.
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Note 2: As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.
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