Global Forestry Equipment Market is valued at approximately USD 10.35 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 4.0% over the forecast period 2023-2030. Forestry equipment includes a wide range of specialized machines and tools used in the management and harvesting of forests and woodlands. This equipment is designed to assist in various aspects of forestry operations, including tree harvesting, timber processing, reforestation, and forest management. The Forestry Equipment market is expanding because of factors such as rising demand for wood products such as lumber, plywood, paper, and furniture, growing emphasis on sustainable forestry practices and the growing biomass and bioenergy industry.
The forestry industry provides raw materials for various wood products, such as lumber, plywood, paper, and furniture. As the global population continues to grow, the demand for these wood products has been steadily increasing, driving the need for efficient forestry equipment to meet this demand. According to Statista, in the year 2022, the sales of furniture stood at USD 694.32 billion which is projected to reach USD 932.22 billion sales by year 2028. These rising sales indicated the rising demand for furniture, which is derived from wood, resulting in market growth. In addition, Surging Roundwood production and the rising development of advanced equipment are creating new opportunities for market growth. However, the high cost of Forestry Equipment stifles market growth throughout the forecast period of 2023-2030.
The key regions considered for the Global Forestry Equipment Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. North America dominated the market in 2022 owing to the increasing availability of forestry equipment rentals, government investments in infrastructure development, and reduced capital expenditures are all contributing to significant shifts in the Forestry Equipment Market. Additionally, as a primary hub for manufacturing forestry equipment tires, this region is poised to become a prominent global consumer of Original Equipment Manufacturer (OEM) forestry equipment tires. This growth is driven by expanding construction, manufacturing, and energy sectors. Asia Pacific is expected to grow significantly over the forecast period, owing to factors such as a rise in government spending aimed at enhancing and rejuvenating both their forested areas and the associated forestry equipment.
Major market player included in this report are:
- Deere & Company
- Komatsu Ltd.
- Volvo Construction Equipment
- Hitachi Construction Machinery Co. Ltd.
- Barko Hydraulics LLC.
- Doosan Corporation.
- Kesla Oyj
- Ponsse Oyj
- Rottne Industri AB.
- Eco Log Sweden AB
Recent Developments in the Market:
- In June 2023, Volvo CE has established a fresh Compact Business Unit with the objective of seizing opportunities in the growing compact equipment market. In its initial phase, this unit will manage activities pertaining to compact wheel loaders, specifically up to the L50 model, as well as compact excavators weighing up to 9 tons.
- In June 2022, Komatsu Ltd. has entered into a purchase agreement to acquire Bracke Forest AB, headquartered in Bracke, Sweden. The acquisition would be executed by a wholly-owned subsidiary, Komatsu Forest AB. Bracke Forest AB is known for its expertise in creating, producing, and marketing specialized attachments tailored for silviculture.
Global Forestry Equipment Market Report Scope:
- Historical Data - 2020 - 2021
- Base Year for Estimation - 2022
- Forecast period - 2023-2030
- Report Coverage - Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
- Segments Covered - Product, Region
- Regional Scope - North America; Europe; Asia Pacific; Latin America; Middle East & Africa
- Customization Scope - Free report customization (equivalent up to 8 analyst's working hours) with purchase. Addition or alteration to country, regional & segment scope*
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:
By Product:
- Felling Equipment
- Extracting Equipment
- On-Site Processing Equipment
- Other Forestry Equipment
By Region:
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Spain
- Italy
- ROE
- Asia Pacific
- China
- India
- Japan
- Australia
- South Korea
- RoAPAC
- Latin America
- Brazil
- Mexico
- Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of Middle East & Africa
Table of Contents
Chapter 1. Executive Summary
- 1.1. Market Snapshot
- 1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
- 1.2.1. Forestry Equipment Market, by Region, 2020-2030 (USD Billion)
- 1.2.2. Forestry Equipment Market, by Product, 2020-2030 (USD Billion)
- 1.3. Key Trends
- 1.4. Estimation Methodology
- 1.5. Research Assumption
Chapter 2. Global Forestry Equipment Market Definition and Scope
- 2.1. Objective of the Study
- 2.2. Market Definition & Scope
- 2.2.1. Industry Evolution
- 2.2.2. Scope of the Study
- 2.3. Years Considered for the Study
- 2.4. Currency Conversion Rates
Chapter 3. Global Forestry Equipment Market Dynamics
- 3.1. Forestry Equipment Market Impact Analysis (2020-2030)
- 3.1.1. Market Drivers
- 3.1.1.1. Rising demand for wood products such as lumber, plywood, paper, and furniture
- 3.1.1.2. Growing emphasis on sustainable forestry practices
- 3.1.1.3. Growing biomass and bioenergy industry
- 3.1.2. Market Challenges
- 3.1.2.1. High Cost of Forestry Equipment
- 3.1.3. Market Opportunities
- 3.1.3.1. Surging Roundwood Production
- 3.1.3.2. Rising developing advanced equipment
Chapter 4. Global Forestry Equipment Market Industry Analysis
- 4.1. Porter's 5 Force Model
- 4.1.1. Bargaining Power of Suppliers
- 4.1.2. Bargaining Power of Buyers
- 4.1.3. Threat of New Entrants
- 4.1.4. Threat of Substitutes
- 4.1.5. Competitive Rivalry
- 4.2. Porter's 5 Force Impact Analysis
- 4.3. PEST Analysis
- 4.3.1. Political
- 4.3.2. Economical
- 4.3.3. Social
- 4.3.4. Technological
- 4.3.5. Environmental
- 4.3.6. Legal
- 4.4. Top investment opportunity
- 4.5. Top winning strategies
- 4.6. COVID-19 Impact Analysis
- 4.7. Disruptive Trends
- 4.8. Industry Expert Perspective
- 4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Forestry Equipment Market, by Product
- 5.1. Market Snapshot
- 5.2. Global Forestry Equipment Market by Product, Performance - Potential Analysis
- 5.3. Global Forestry Equipment Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
- 5.4. Forestry Equipment Market, Sub Segment Analysis
- 5.4.1. Felling Equipment
- 5.4.2. Extracting Equipment
- 5.4.3. On-Site Processing Equipment
- 5.4.4. Other Forestry Equipment
Chapter 6. Global Forestry Equipment Market, Regional Analysis
- 6.1. Top Leading Countries
- 6.2. Top Emerging Countries
- 6.3. Forestry Equipment Market, Regional Market Snapshot
- 6.4. North America Forestry Equipment Market
- 6.4.1. U.S. Forestry Equipment Market
- 6.4.1.1. Product breakdown estimates & forecasts, 2020-2030
- 6.4.2. Canada Forestry Equipment Market
- 6.5. Europe Forestry Equipment Market Snapshot
- 6.5.1. U.K. Forestry Equipment Market
- 6.5.2. Germany Forestry Equipment Market
- 6.5.3. France Forestry Equipment Market
- 6.5.4. Spain Forestry Equipment Market
- 6.5.5. Italy Forestry Equipment Market
- 6.5.6. Rest of Europe Forestry Equipment Market
- 6.6. Asia-Pacific Forestry Equipment Market Snapshot
- 6.6.1. China Forestry Equipment Market
- 6.6.2. India Forestry Equipment Market
- 6.6.3. Japan Forestry Equipment Market
- 6.6.4. Australia Forestry Equipment Market
- 6.6.5. South Korea Forestry Equipment Market
- 6.6.6. Rest of Asia Pacific Forestry Equipment Market
- 6.7. Latin America Forestry Equipment Market Snapshot
- 6.7.1. Brazil Forestry Equipment Market
- 6.7.2. Mexico Forestry Equipment Market
- 6.8. Middle East & Africa Forestry Equipment Market
- 6.8.1. Saudi Arabia Forestry Equipment Market
- 6.8.2. South Africa Forestry Equipment Market
- 6.8.3. Rest of Middle East & Africa Forestry Equipment Market
Chapter 7. Competitive Intelligence
- 7.1. Key Company SWOT Analysis
- 7.1.1. Company 1
- 7.1.2. Company 2
- 7.1.3. Company 3
- 7.2. Top Market Strategies
- 7.3. Company Profiles
- 7.3.1. Deere & Company
- 7.3.1.1. Key Information
- 7.3.1.2. Overview
- 7.3.1.3. Financial (Subject to Data Availability)
- 7.3.1.4. Product Summary
- 7.3.1.5. Recent Developments
- 7.3.2. Komatsu Ltd.
- 7.3.3. Volvo Construction Equipment
- 7.3.4. Hitachi Construction Machinery Co. Ltd.
- 7.3.5. Barko Hydraulics LLC.
- 7.3.6. Doosan Corporation.
- 7.3.7. Kesla Oyj
- 7.3.8. Ponsse Oyj
- 7.3.9. Rottne Industri AB.
- 7.3.10. Eco Log Sweden AB
Chapter 8. Research Process
- 8.1. Research Process
- 8.1.1. Data Mining
- 8.1.2. Analysis
- 8.1.3. Market Estimation
- 8.1.4. Validation
- 8.1.5. Publishing
- 8.2. Research Attributes
- 8.3. Research Assumption