Forestry Equipment Market to Register Robust Revenue Growth in Coming the Next Ten Years

Extensive applications in manufacturing wood-based panels, furniture, wood pallets, and pulp & wood processing will drive forestry equipment market in the ensuing years. This equipment has significant usage owing to its accuracy in heavy-duty operations, including forest management, sanctuary conservation, vegetation clearance, wildlife, and lodging. A marked rise in urbanization and upsurge in disposable income has induced demand for wood-based products and proliferated forestry equipment industry.

According to a comprehensive research report published by Global Market Insights, Inc., forestry equipment market size is likely to surpass a valuation of $17 billion by 2026.

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Rising demand for chippers to fuel the industry trends

Raw material harvesting has generated an enormous requirement for forest equipment due to surging need for wood-based panels, including particleboard, fiberboard, plywood, and Oriented Strand Board (OSB). This equipment has majorly found uses to cut tress, delimb, drag woods to specific locations, and make wood chips. A series of investments to effectuate research & development activities to develop advanced products will create new opportunities for forestry equipment industry players.

Wood chips are massively used in construction, fuel & composting materials, and erosion control. The advent of organic farming has impelled adoption of wood chips and other organic matters, including grass cutting and dead leave in the form of fertilizers. Forestry equipment market participants are rolling out economic self-propelled chippers for effective functioning. For example, in August 2019, Alle Rechte vorbehalten introduced self-propelled chippers incorporated with a 612 hp-786 hp engine variant.

Government regulations to augment the industry outlook

Forestry equipment industry demand has propelled due to rising vegetation management, restoration, and conservation of national forests. Government authorities are introducing various reforestation initiatives to save natural calamity-affected watersheds. The U.S. government authorities are encouraging regeneration harvesting or treatments of timbers in order to stabilize the ecosystem, which will stimulate forestry equipment market trends.

North America to emerge as a viable regional avenue

Considering regional contribution, North America has emerged as a pivotal growth ground for forestry equipment industry. The region has witnessed an immense demand for roundwood and sawlogs. Forestry equipment market players are introducing equipment with efficient & more productive engines and advanced safety features. For example, in March 2017, Hitachi rolled out forestry equipment in North America integrated with Stage IV Isuzu engine. The forestry equipment is capable of increasing productivity and decreasing maintenance costs.

North America is also witnessing an increase in forestry equipment rental services owing to the augmenting consumption of wood-based products for developing infrastructure. Companies operating in forestry equipment industry are endeavoring to expand their sales network and enhance public relations. For instance, in August 2019, Komatsu selected Tractor & Equipment Company (TEC) as its distributor to expand its footprints across North America.

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Forestry equipment behemoths are adopting various business strategies, such as innovations, collaborations, partnerships, and mergers to strengthen their foothold. They are integrating various technologies, such as Artificial Intelligence to retain customers. A few of the prominent forestry equipment market players are Caterpillar, Deere & Company, Barko Hydraulics LLC, Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., Komatsu Ltd., JCB, Bell Equipment, AB Volvo, and Liebherr Group amongst others.

Table of Contents (ToC) of the report:

Chapter 1   Methodology and Scope

1.1    Scope & definitions

1.1.1    Definition

1.2    Methodology and forecast parameters

1.2.1    Region wise impact analysis of COVID-19

1.2.1.1    North America

1.2.1.2    Europe

1.2.1.3    Asia Pacific

1.2.1.4    Latin America

1.2.1.5    MEA

1.3    Data Sources

1.3.1    Secondary

1.3.2    Primary

Chapter 2   Executive Summary

2.1    Forestry equipment industry 360° synopsis, 2016 – 2027

2.1.1    Business trends

2.1.2    Regional trends

2.1.3    Type trends

Chapter 3   Industry Insights

3.1    Industry segmentation

3.2    Impact of COVID-19 on forestry equipment industry landscape

3.2.1    Global outlook

3.2.2    Regional impact

3.2.2.1    North America

3.2.2.2    Europe

3.2.2.3    Asia Pacific

3.2.2.4    Latin America

3.2.2.5    MEA

3.2.3    Industry value chain

3.2.3.1    Research & development

3.2.3.2    Manufacturing

3.2.3.3    Marketing

3.2.3.4    Supply

3.2.4    Competitive landscape

3.2.4.1    Strategy

3.2.4.2    Distribution network

3.2.4.3    Business growth

3.3    Industry ecosystem analysis

3.3.1    Component suppliers

3.3.2    Manufacturers

3.3.3    Profit margin analysis

3.3.4    Technology providers

3.3.5    End-use landscape

3.3.6    Distribution channel analysis

3.3.7    Vendor matrix

3.4    Technology & innovation landscape

3.4.1    IoT & AI

3.4.2    Telemactis

3.4.3    Autonomous forestry machinery

3.5    Regulatory landscape

3.5.1    North America

3.5.2    Europe

3.5.3    Asia Pacific

3.5.4    Latin America

3.5.5    MEA

3.6    Industry impact forces

3.6.1    Growth drivers

3.6.1.1    Deployment of innovative forestry equipment in the U and Europe

3.6.1.2    Increasing use of wood pellets for industrial and household application globally

3.6.1.3    Innovation of technically advanced forwarders & harvesters across the globe

3.6.1.4    Rising government initiatives for vegetation and forest management in Asia Pacific

3.6.1.5    Proliferation of rental forestry equipment in Latin America and MEA

3.6.1.6    Growing awareness related to forestry mechanization globally

3.6.2    Industry pitfalls & challenges

3.6.2.1    Cyclic concerns pertaining to high initial & maintenance cost

3.6.2.2    Limited consumer awareness in developing countries

3.7    Growth potential analysis

3.8    Porter’s analysis

3.8.1    Supplier power

3.8.2    Buyer power

3.8.3    Threat of new entrants

3.8.4    Threat of substitutes

3.8.5    Internal rivalry

3.9    PESTEL analysis

3.9.1    Political

3.9.2    Economic

3.9.3    Social

3.9.4    Technological

3.9.5    Environmental

3.9.6    Legal

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