Industry: Industrial Automation
Published Date: May-2022
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 281
Report ID: PMRREP32709
The global forestry machinery market is slated to reach US$ 13.62 Bn in the year 2031 at a CAGR of 4.8%.
| Attributes | Key Insights |
|---|---|
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Forestry Machinery Market (2022) |
US$ 8.96 Bn |
|
Projected Market Value (2031) |
US$ 13.62 Bn |
|
Global Market Growth Rate (2022-2031) |
4.8% CAGR |
|
Market Share of North America and Europe |
51.1% |
The global forestry machinery market was worth US$ 7.66 Bn in the year 2016. The CAGR witnessed from 2016 to 2021 was 2.9%. However, it is expected to grow almost two-fold between 2022 and 2031.
The forest management activities are being closely monitored since the last few years. There has also been an ever-increasing awareness amongst the people regarding forest preservation. The countries like China, Canada, and the US are witnessing a growing production of Roundwood. Forest science is also being developed for enhancing forest operations including low-impact harvesting and lowering the fire risks.
The awareness regarding afforestation is also expected to expand in the years to come. Brazil is already working towards it. The other countries like Peru are expected to follow suit. As of now, though LATAM holds 15.6% of market share (due to Brazil), it is expected to witness an upsurge in the near future. It’s just a matter of time.
“Finding Automation Well”
Felling equipment accounts for more than 30% of the market share. It comprises chainsaw, harvester, and feller buncher. Amongst these, feller buncher is being widely used due to higher production offered along with enhanced safety in comparison with chainsaw. The extracting equipment also play their part well. Forwarders and skidders do suffice the automated technologies as well.
“Europe to continue to lead all the way through”
Europe holds 32.3% of the market share due to the countries like France, the UK, and Germany resorting to mechanized practices and adopting precision forestry. North America holds 18.8% of the market share. This could be reasoned with growing aftermarket sales along with altering cut-to-length logging methods herein. Besides, the latest trend is that of GPS control system being integrated with forestry equipment, so that real-time tracking could be incorporated with propagation of sustainable operations. Also, the fact that wood pellets are being increasingly being asked for to serve as feedstock for the power plants in developed economies can’t be ignored. With preservation of forests being looked upon as a matter of serious concern, the countries in the Asia-Pacific like India and China are seen making relentless efforts. The governments are also pitching in.
“Cost involved in Upgradation of Forestry Machinery to restrain the Market”
Replenishment of old forest machinery involves heavy investment, which would certainly compel the small-scale players to give a second thought regarding it. Also, research herein would be preferred by the developed economies. This difference is bound to be a restraining factor to forest machinery market.
“Forestry Machinery Market to ride on Rebound Effect”
The forestry machinery market was adversely affected by Covid-19 with only essential services being operational between March 2020 and June 2021. The market is moving forward now with industries picking up pace. The next decade is bound to see sea changes in forestry machinery market with innovations and upgradations in place.
The key players are into adoption of several strategies like new product launches, upgradation of products, and inorganic modes of expansion like collaborations, mergers, acquisitions, and product diversification for staying out in the market.
| Attribute | Details |
|---|---|
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Forecast Period |
2022-2031 |
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Historical Data Available for |
2016-2021 |
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Market Analysis |
US$ Mn/Bn for Value |
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Key Regions Covered |
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Key Countries Covered |
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Key Market Segments Covered |
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Key Companies Profiled |
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Pricing |
Available upon Request |
Forestry Machinery Market by Type
Forestry Machines Market by Sales
Forestry Machinery Market by Operation
Forestry Machinery Market by Region
To know more about delivery timeline for this report Contact Sales
The forestry machinery Market is expected to be worth US$ 8.96 Bn in the year 2022 and grow 1.5 times by the year 2031.
The market for forestry machinery is expected to reach US$ 13.62 Bn by 2031, expanding at a CAGR of 4.8%.
North America holds 18.8% of the market share.
Caterpillar, John Deere, Tigercat International Inc., Volvo AB, Komatsu, Kubota Corporation, Hitachi Construction Machinery Co., Ltd., Liugong Machinery Co., Ltd., Ponsse Oyj, Barko Hydraulics L.L.C, Kawasaki Heavy Industries, Ltd, Dafo, Rabaud, Eco Log, Rottne Industri AB, and Bell Equipment.
The Asia-Pacific’s forestry machinery market holds 22.4% of the market share.
