PUBLISHER: The Business Research Company | PRODUCT CODE: 1414235
PUBLISHER: The Business Research Company | PRODUCT CODE: 1414235
“Forestry Machinery Global Market Report 2024 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on forestry machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for forestry machinery? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The forestry machinery market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Forestry machinery encompasses a diverse range of equipment and vehicles utilized in the forestry industry to execute various tasks, including the harvesting, processing, and transportation of timber for logging or other forestry services. These machines find application in both logging activities and land clearing within agricultural settings.
The primary categories of forestry machinery include feller bunchers, harvesters, skidders, loaders, forwarders, grapples, felling heads, harvesting heads, yarders, and other specialized equipment. A Feller Buncher is a heavy-duty machine featuring a large, self-propelled design with a cutting head mounted on an articulated arm, akin to an excavator. It operates through a combination of diesel and electrical hybrid systems and is available for sale in both used and new units.
The forestry machinery market research report is one of a series of new reports from The Business Research Company that provides forestry machinery market statistics, including forestry machinery industry global market size, regional shares, competitors with a forestry machinery market share, detailed forestry machinery market segments, market trends and opportunities, and any further data you may need to thrive in the forestry machinery industry. This forestry machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The forestry machinery market size has grown strongly in recent years. It will grow from $9.03 billion in 2023 to $9.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The expansion of the timber industry, increased environmental awareness, government policies and regulations, global demand for wood products, and responses to natural disasters contributed to the growth in the historic period.
The forestry machinery market size is expected to see strong growth in the next few years. It will grow to $11.91 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The forecasted growth in the period ahead can be attributed to the utilization of renewable energy and biomass, evolving logging practices, adaptation to climate change, increasing urbanization, and government incentives promoting sustainable practices. Major trends anticipated in the forecast period include integration of automation and technology, emphasis on fuel efficiency and alternative power sources, utilization of data analytics and remote monitoring, incorporation of safety features and ergonomics, and the promotion of circular economy and recycling initiatives.
The forestry machinery market is experiencing growth due to the increasing demand for wood and wood products. Wood products encompass items or materials derived from wood, and forestry machinery primarily serves the purpose of efficiently producing wood. Harvesting wood from forests is facilitated by specialized machinery such as loggers and harvesters, simplifying large-scale forestry tasks. For example, Eurostat reported a 3.9 percent increase in Europe's roundwood production in 2021. Additionally, the United Nations Economic Commission for Europe indicated a 1.1% rise in sawn softwood production in the US in 2022, reaching 63.4 thousand cubic meters. The wood products consumption index increased by 5.5% from 2020 to 2021, and the consumption index for paper and pulpwood products grew by 1.7%, from 93.9 to 95.5. Therefore, the forestry machinery market is benefitting from the growing demand for wood and wood products.
The forestry machinery market is expected to be driven by the increasing need for afforestation and reforestation. Afforestation involves creating new forests in non-forested areas, while reforestation focuses on replanting trees in previously depleted or deforested areas. Both activities are crucial for environmental conservation and addressing the impacts of deforestation. Forestry machinery plays a pivotal role in these efforts by facilitating efficient tree planting, site preparation, and maintenance processes for establishing new forests (afforestation) or replanting trees in depleted areas (reforestation). For instance, Forest Research (FR) reported that the estimated woodland area in the UK was 3.25 million hectares, with 12.96 thousand hectares of newly established woodland during the fiscal year 2022/23. Hence, the growing demand for afforestation and reforestation is expected to propel the forestry machinery market forward.
Product innovations are a prominent trend in the forestry machinery market, with major companies introducing innovative products to maintain their market position. For example, in September 2022, Komatsu Ltd., a Japanese manufacturing company, unveiled the PC230F-11 forestry processor-a swing machine designed for heavy-duty timber processing operations, including delimbing, chopping, and stacking. The powerful swing system enhances the movement of large trees, and the machine is equipped with a 197-horsepower Komatsu Tier 4 Final engine, offering improved fuel efficiency compared to the previous Tier 4 Interim engines. Additional features include double fuel capacity and an auto power max function, which automatically adjusts power during sudden changes in load weight, facilitating efficient branch trimming while cutting through trees.
Major companies in the forestry machinery market are focusing on the development of technologically advanced products, such as forestry cranes, to enhance operational efficiency, safety, and overall performance, addressing the evolving needs of the industry. Forestry cranes, specialized lifting equipment used in timber-related operations, are mounted on vehicles to handle tasks such as log lifting and timber harvesting. For instance, Hiab, a Sweden-based company specializing in forestry equipment, introduced its latest Loglift forestry cranes in July 2022. These cranes boast improved performance, safety features, and increased operational uptime, with enhanced boom geometry for extended outreach and higher lifting capacity. Optional integrated connectivity allows access to Hiab's HiConnect platform, providing real-time insights into equipment utilization, operation, and condition to optimize performance and address potential issues proactively.
In July 2022, Komatsu Forest AB, a Sweden-based manufacturer of forestry machinery and equipment, acquired Bracke Forest AB for an undisclosed amount. This strategic acquisition aims to leverage Bracke's advanced technologies and expertise in planting, accelerating the mechanization of harvesting and forwarding operations across various processes. Bracke Forest AB is a Sweden-based forestry equipment and machinery manufacturing company.
Major companies operating in the forestry machinery market report are John Deere, Komatsu Ltd., Barko Hydraulics LLC., Tigercat International Inc., Caterpillar Inc., Rottne Industri AB, Kawasaki Heavy Industries Ltd., The Volvo Group, Hitachi Construction Machinery Co. Ltd., Claas KGaA mbH., Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., Liugong Machinery Co. Ltd., Ponsse Plc, CNH Industrial N.V., The Husqvarna Group, Morbark LLC, Eco Log Sweden AB, Valmet Oyj, Sany Heavy Industry Co. Ltd., Kesla Oyj, Link-Belt Excavators, Tanguay Machinery, Ecoforst GmbH, Palfinger Epsilon, Logset Oy, Terex Deutschland GmbH, Bell Equipment Company SA (Pty) Ltd., Sennebogen LLC, Vimek AB, Log Max AB, Waratah Corporation, STIHL Holding AG & Co. KG
Europe was the largest region in the forestry machinery market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global forestry machinery market report during the forecast period. The regions covered in the forestry machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
The countries covered in the forestry machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain
The forestry machinery market consists of sales of mulchers, delimbers, chippers, and excavators. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.