Forestry Equipment Market Size By Type (Felling Equipment [Chainsaw, Harvester, Feller Buncher], Extracting Equipment [Forwarder, Skidder], On-Site Processing Equipment [Chipper, Delimber]), Industry Analysis Report, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2020 – 2026
Published Date: Feb 2020 | Report ID: GMI4580 | Authors: Preeti Wadhwani, Prasenjit Saha
Industry Trends
Forestry Equipment Market size was over USD 11 billion in 2019 and is estimated to grow at over 5% CAGR between 2020 and 2026. The rising demand for wood in construction activities along with. increasing usage of timber in commercial construction applications, such as flooring and wall & roof designing, is driving the logging equipment industry growth.
Get more details on this report - Request Free Sample PDF
The use of forestry machines for wildland fire management and wildlife & sanctuary management for ecosystem preservation in countries including the U.S., Russia, Canada, and China are supporting the market demand. The forestry equipment sector is witnessing high growth owing to a rise in demand for products made from residues and recycled materials such as sawdust used to manufacture particleboards.
Forestry equipment manufacturers are investing in the development of technically-advanced heavy equipment to enhance productivity and increase accuracy in forestry operations, contributing to the market size expansion. The transformation of these equipment equipped with IoT-integrated solutions and cloud computing solutions is propelling forestry equipment market. For instance, in February 2018, Komatsu announced the launch of a harvester equipped with an IoT system that offers optimal crosscutting instructions, enabling operators to perform efficiently.
Industry challenges such as hydraulic leakage is one of the major concerns of forestry equipment, which need to be diagnosed at regular intervals to prevent functional failures. These machine operations are complex procedures and require skilled operators.
Incorporation of cross-laminated and nail laminated timbers for infrastructure development is creating market opportunities in commercial construction. Digitization has hindered the consumption of paper products in the education and corporate sectors, further declining the production in paper mills, in turn, impacting the logging equipment market growth.
Report Coverage | Details | ||
---|---|---|---|
Base Year: | 2019 | Market Size in 2019: | USD 11 Billion |
Historical Data for: | 2016 to 2019 | Forecast Period: | 2020 to 2026 |
Forecast Period 2020 to 2026 CAGR: | 5% | 2026 Value Projection: | USD 17 Billion |
Pages: | 270 | Tables, Charts & Figures: | 529 |
Geographies covered (16): | U.S., Canada, UK, Germany, Sweden, Finland, Russia, China, India, Japan, South Korea, Brazil, Mexico, UAE, Saudi Arabia, South Africa | ||
Segments covered: | Type | ||
Companies covered (19): | AB Volvo¸ Caterpillar, Deere & Company¸ Doosan Infracore Co. Ltd., Eco Log Sweden AB¸ Grema, Hitachi Construction Machinery Co., Husqvarna AB¸ Kesla OYJ, Komatsu Forest, Logset OY¸ Morbark, LLC., Palfinger AG, Ponsse PLC, Risutec Oy¸ Rottne Industri, Sampo Rosenlew, STIHL Holding, Tigercat | ||
Growth Drivers: |
|
||
Pitfalls & Challenges: |
|
Get more details on this report - Request Free Sample PDF
Rising demand for land clearing and management of vegetation across the globe
Get more details on this report - Request Free Sample PDF
Based on product, the market is segmented into felling equipment, extracting equipment and on-site processing equipment. The felling equipment held the market share of around 35% in 2019 in the U.S. Chainsaws are witnessing high demand in the industry due to rising tinder harvesting activities across the globe. Industry trends, such as development of cordless & battery-powered chainsaws used in horticulture maintenance and firewood fragmentation, are propelling the forestry equipment market demand.
Several market factors, including innovations in harvesting technology are increasing the deployment of harvesters in Asia Pacific countries including China, India, Japan, creating opportunities for the market expansion. Furthermore, forestry equipment manufacturers are offering products to boost farm efficiency and productivity, which will boost the demand for forestry equipment. The increasing government awareness programs for forest management are strengthening the harvester demand. High market price of advanced harvesters may hamper the market growth. Government subsidiaries and other financial solutions, such as loans, EMI payments, will aid industry growth.
Rising public and private investments in the construction of highways through forest landscape are influencing the usage of wheeled feller buncher. The innovations in GPS enabled feller bunchers are strengthening their adoption for forest management applications, thus driving the market demand. For example, in August 2019, Deere & Company launched TimberMatic software for feller bunchers & skidders that allows sharing of real-time production and location information to contractors and operators. The company introduced JDLink for fleet management offering remote access from mobile devices and desktops. The solution enables the operator to access information on fuel consumption, idle time, machine hours, and maintenance reminders, supporting the industry trend.
Increasing vegetation management and land clearing applications for transportation infrastructure development will strengthen the usage of mulchers forestry equipment. The growing usage of these equipment to clear unwanted vegetation is anticipated to propel the market revenue through 2026. The rising government initiatives to develop smart and feasible transportation infrastructure are increasing the demand for heavy machines. Enhancement in transportation infrastructures such as installation of hyperloop projects, advancement in metro rail facilities and construction of roadways through forest cover areas pose the need for advanced equipment.
Increasing demand for residential and commercial furniture in North America
Get more details on this report - Request Free Sample PDF
The rising demand for wood products and the growing population in North America are leading to a high deployment of forestry equipment. The deployment caters to the residential & commercial furniture manufacturing needs. Increasing usage of forest products, such as logwoods and sawnwood, for infrastructure development is increasing the usage of forestry machines. The U.S. government authorities are promoting silviculture for forest and vegetation maintenance, propelling the use of forestry equipment. Furthermore, the emergence of practices such as density management is promoting the utilization of chainsaws and harvesters, attributing to the forestry equipment industry growth.
Product launches and partnerships remain key growth strategies
To strengthen the market share, companies are investing in product innovations to enhance efficiency and productivity. Citing an instance, in 2017, Tigercat announced the launch of RemoteLog to enhance productivity by minimizing downtime and providing real-time data on mechanical performance. Additionally, in 2019, the company launched a laser cutting system that uses fiber optic technology to increase productivity and throughput. Market players are also offering products integrated with algorithm-based solutions, contributing to forestry equipment market growth. Deere & Company had launched AI-integrated solutions in January 2019 for vegetation management.
Players operating in this market are adopting various strategies, such as partnerships & collaborations with tech providers for product innovation and to gain a higher market share. Some of the major players operating in the market includes AB Volvo, Caterpillar, Deere & Company, Doosan Infracore Co. Ltd., Eco Log Sweden AB, Grema, Hitachi Construction Machinery Co., Husqvarna AB, Kesla OYJ. Furthermore, forestry equipment manufacturers are focusing on new product launches that comply with Tier 4 regulations.
Under Tier 4 regulations, forestry equipment engines operate efficiently while reducing nitrogen emission by 90%, creating a positive market outlook. Market leaders are launching hybrid harvesters to increase their product portfolio and expand geographical presence. For instance, in May 2019, Logset announced the launch of a hybrid harvester, offering productive and economical solutions confronting Stage 5 EU emission regulations.
The forestry equipment market research report includes in-depth coverage of the industry with estimates & forecast in terms of revenue in USD and unit shipments from 2016 to 2026 for the following segments:
By Type
- Felling equipment
- Chainsaw
- Harvester
- Feller buncher
- Extracting Equipment
- Forwarder
- Skidder
- On-site processing equipment
- Chipper
- Delimber
- Other Forestry Equipment
- Loader
- Mulcher
The above information has been provided for the following regions and countries:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- Sweden
- Finland
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- UAE
- Saudi Arabia
- South Africa
Frequently Asked Questions (FAQ) :
Buy Now
Need a Discount? Get in touch with us for special pricing
Request DiscountConnect with our sales team
- Phone: 1-302-846-7766
- Toll Free: 1-888-689-0688
- Email: sales@gminsights.com
- Chat With Us: Click here to start
Premium Report Details
Benefits of Association
Data Coverage & Quality
GMI reports provide the most comprehensive coverage of any focus industry, ensuring a holistic and deep understanding of the market, along with actionable and granular data. We also take pride in our commitment to quality and strive to ensure that our clients get their moneys worth.
Client Trust & Security
GMI maintains strict code of conduct as a business and is committed to ensure that the privacy and trust of our clients are always maintained. As an organization, we also strive to be fully compliant with privacy laws, PCI and information security guidelines.
Customer Service
Our customers rely on us to produce accurate, reliable and timely information. Service orientation is a key mission for us as an organization; our process is guided by the desire to ensure that our clients are provided the best possible solutions in optimal timeframe. GMI stands by its commitment to service, providing timely assistance in both pre-sales and post-sales support for our clients.
GMIPulse, our report store
We have introduced ‘GMIPulse’, which is our report store; designed to offer clients a one-stop platform for all market research and business intelligence requirements. Clients can access reports, presentations, raw data excel sheets as well as detailed company profiles. GMIPulse allows you to track relevant industries and stay informed with latest innovation, competitive and regulatory developments to help design strategic framework.