Forestry Equipment Market: Introduction
- The forestry equipment market is anticipated to show promising potential in the coming years due to economic development in several emerging economies which drives the demand for wood in construction and infrastructure activities. Technological advancement in forestry machinery has increased the equipment efficiency over the years. This has increased the productivity and reduced the cost which is an encouraging factor of the forestry equipment market.
- Forestry includes harvesting, cultivation of land, and collecting wood logs. Economic development in several countries fosters the demand for wood and wood products. This encourages growth of the global forestry equipment market. Increasing preference for automation and mechanization of agriculture activities in developing countries is anticipated to surge the demand for these equipment in the coming years.
Key Drivers of the Global Forestry Equipment Market
- Many emerging countries are showing a major shift toward mechanization and automation of most forestry processes to reduce labor cost which is anticipated to boost the demand for forestry equipment in the near future.
- Governments of several countries are encouraging the adoption of forestry machinery and equipment to boost the productivity which also supports the growth of the forestry equipment market. Technological development in forestry machinery improves machine efficiency and operational cost which benefits the consumers. This also drives market growth. Manufacturers are increasing investment in R&D to enhance equipment features and improve efficiency, which is also expected to raise market demand in the coming years.
Forestry Equipment Anticipated to Create Attractive Opportunities in Future
- Major shift in agriculture and forestry operations from manual work to automation and mechanization in several developing countries is encouraging the demand for forestry equipment. Manufacturers of forestry equipment have lucrative opportunities in emerging economies to expand their business. Many favorable government policies are beneficial for forestry equipment manufacturers to help in business expansion.
Are you a start-up willing to make it big in the business? Grab an exclusive PDF Brochure of this report
Lack of Information and High Capital Investment Anticipated to Hinder the Market
- Many countries are still dependent on manual labor for agriculture and forestry activities due to lack of technological development and information availability. Also, most forestry machinery require high capital investment which is expensive for small and mid-range consumers.
North America and Europe Anticipated to Dominate the Global Forestry Equipment Market
- The market in Asia Pacific and South America are anticipated to show significant growth during the forecast period. Stable economic conditions, rapid urbanization, and industrialization is boosting the manufacturing, construction, and energy sectors which are the encouraging factors for forestry equipment demand. Favorable economic policies attract investment and support industrial growth of countries. Rapid growth in demand for forest products is anticipated to boost the share of Asia Pacific and South America in the coming years.
- North America and Europe dominated the global forestry equipment market. More preference to mechanized practices and automation technologies in agriculture and forestry, and increasing investment in forestry machinery such as harvesters and loaders are the major driving factors of the forestry equipment market in these regions. Growth in construction industry has increased the demand for wooden slabs and pillars which also enhances the demand for forestry equipment.
- The South America market is also expected to show significant growth in the coming years owing to increasing infrastructure and manufacturing activities across several emerging countries such as Argentina and Brazil.
Key Players Operating in the Global Market
The global forestry equipment market is highly concentrated across major manufacturers who account for around 20%–25% share of the overall forestry equipment market. A few of the key manufacturers operating in the global forestry equipment market are:
- Bamford Excavators Limited
- Barko Hydraulics LLC
- Caterpillar Inc.
- Deere & Company
- Hyundai Heavy Industries Co.
- Komatsu Ltd.
- Mahindra Group
- Sumitomo Heavy Industries.
- Tigercat International Inc.
- Valmont Industries Incorporated.
Looking for Regional Analysis or Competitive Landscape in Forestry Equipment Market, ask for a customized report
Global Forestry Equipment Market: Research Scope
Global Forestry Equipment Market, by Equipment Type
- Others (Bunchers, Swing Machines etc.)
Global Forestry Equipment Market, by Power
Global Forestry Equipment Market, by Region
- North America
- Rest of North America
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
The report offers a comprehensive evaluation of the market. It does so via in-depth qualitative insights, historical data, and verifiable projections about market size. The projections featured in the report have been derived using proven research methodologies and assumptions. By doing so, the research report serves as a repository of analysis and information for every facet of the market, including but not limited to: Regional markets, technology, types, and applications.
The study is a source of reliable data on:
- Market segments and sub-segments
- Market trends and dynamics
- Supply and demand
- Market size
- Current trends/opportunities/challenges
- Competitive landscape
- Technological breakthroughs
- Value chain and stakeholder analysis
The report has been compiled through extensive primary research (through interviews, surveys, and observations of seasoned analysts) and secondary research (which entails reputable paid sources, trade journals, and industry body databases). The report also features a complete qualitative and quantitative assessment by analyzing data gathered from industry analysts and market participants across key points in the industry’s value chain.
A separate analysis of prevailing trends in the parent market, macro- and micro-economic indicators, and regulations and mandates is included under the purview of the study. By doing so, the report projects the attractiveness of each major segment over the forecast period.
Highlights of the report:
- A complete backdrop analysis, which includes an assessment of the parent market
- Important changes in market dynamics
- Market segmentation up to the second or third level
- Historical, current, and projected size of the market from the standpoint of both value and volume
- Reporting and evaluation of recent industry developments
- Market shares and strategies of key players
- Emerging niche segments and regional markets
- An objective assessment of the trajectory of the market
- Recommendations to companies for strengthening their foothold in the market
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.