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Forestry Equipment Market Analysis

Report ID: GMI4580
Published Date: Jul 2023
Report Format: PDF

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Forestry Equipment Market Analysis

The felling equipment segment, comprising harvesters, chainsaws, and feller bunchers, records more than 30% of the forestry equipment market share and is projected to witness expansion through 2032. The growth can be attributed to the rising trend of commercial forestry and the consequent need for felling, harvesting, delimbing, processing, and bucking trees. The Center for International Forestry Research (CIFOR) reveals that nearly 24.7 million acres of commercially planted forests currently exist worldwide. The growing adoption of AI and control system-integrated automated equipment will further boost the segment growth.

North America is expected to register substantial revenue share of the forestry equipment market by 2032 propelled by the growing government support for silviculture in the U.S to maintain vegetation and forest cover. The rapidly growing population along with the booming residential and commercial sectors has spurred the higher demand for wood in furniture manufacturing as well as heating & paper production. As per estimates, in November 2022, new home sales surged 5.8% to an approximate annual rate of 640000 units. The rise in government & private investments for enhancing the transportation and infrastructure systems will also drive the regional market growth.

Authors: Preeti Wadhwani

Frequently Asked Questions (FAQ) :

The market size of forestry equipment is anticipated to witness around 4.7% CAGR from 2023 to 2032, due to the rising popularity of sustainable building materials and technologies worldwide.

The felling equipment segment records more than 30% of the forestry equipment market share owing to the rising trend of commercial forestry and the consequent need for felling, harvesting, delimbing, processing, and bucking trees.

North America market size will gain immense traction by the end of 2032, driven by the growing government support for silviculture in the U.S to maintain vegetation and forest cover.

Some of the major forestry equipment market participants are Kesla Oyj, Hitachi Construction Machinery, Barko Hydraulics LLC., Eco Log Sweden AB, Doosan Group, Caterpillar, Inc., Volvo CE, Komatsu Forest, North America LLC., Ponsse PLC, Deere & Company.