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.
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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
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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)
Distribution Channel Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
Application Outlook (Volume, Kilo Tons; 2017-2027) (Revenue, USD Billion; 2017-2027)
The research study includes an in-depth analysis of the market using advanced research methodologies such as SWOT analysis and Porter’s Five Forces analysis. The report further explores the key business players along with their in-depth profiling, product portfolio, and strategic business decisions. The report has been formulated through extensive primary and secondary research and further validated by analysts, industry experts, and market professionals. The report also sheds light on the recent mergers and acquisitions, joint ventures, collaborations, partnerships, and product launches, among others.
Regional analysis covers assessment of import/export, production and consumption ratio, supply and demand, cost, price, estimated revenue and gross margins, and presence of key players in the region. The report also offers insights about revenue growth, market size, market share, technological advancements, and presence of key players in each region.
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Regional Bifurcation of the Forestry Equipment Market Includes:
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