Global Forestry Equipment Market Report and Forecast 2024-2032

Global Forestry Equipment Market Outlook

The global forestry equipment market size stood at USD 11.59 billion in 2023 and is expected to grow at a CAGR of 4%, being driven by shifting global trend toward automated processes and rise of the construction sector. The market is projected to reach USD 16.45 billion by 2032.

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Europe Holds the Major Market Share in Forestry Equipment Industry, Globally

The European countries hold a significant market share for global forestry equipment and are projected to retain their dominance. The agricultural policy of this region ensures that this industry is backed financially. This allows the organizations in Europe to avail high end equipment for agriculture and forestry. Various measures undertaken by European countries that encourage forestry activities supports the growth of forestry machinery in this region over the forecast period. Moreover, the rising demand for forest products such as woods, herbs, and other minerals specifically grown in recent years due to growing awareness and health concerns, are expected to strengthen the market growth. Due to this increasing demand, businesses are calling for new and heavy-duty forestry equipment. These machines can be used for chopping, segregation, collection, for storing logs, and other products smoothly. As a result of this thriving demand, the global forestry equipment market is predicted to grow at a decent rate in the upcoming years.

Forestry Equipment: Market Segmentation

Forestry refers to the science or art of planting, managing and caring for forests. The equipment that facilitates this practice is called forestry equipment. Agriculture and forestry are one of the oldest industries practiced by mankind. Over the past years, we have grown more dependent on agricultural products and forestry.

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On the basis of product, the forestry equipment market is segmented into:

• Harvester
• Feller Bunche
• Forwarder
• Skidders
• Bunchers
• Loaders
• Mulcher
• Others

On the basis of power source used, the industry is segmented into:

• Electric
• Gas
• Oil

The regional markets for forestry equipment include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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The Expanding Construction Sector to Boost the Market Growth of Forestry Equipment

The forestry equipment industry is expected to observe decent growth due to the increasing awareness about forest preservation and related practices in both developed and developing countries. Further, the transition of forestry operations from manual work to the automated mode of functioning in forests is likely to drive the demand for forestry equipment during the forecast period. The growing demand for wood and various by-products, along with the shift towards mechanized processes for the cutting of forest trees, has significantly strengthened the demand for forestry equipment. Furthermore, major players in the sector are changing the landscape of the market by developing forestry machines equipped with telematics and GPS systems for real-time tracking and monitoring of machinery, which would enhance efficiency. Developments such as these, as well as the rising demand for these hybrid technologies, are expected to boost the market growth.

Furthermore, as the construction industry expands, there is expected to be an increased demand for wooden slabs and pillars, which, in turn, will drive the demand for forestry equipment. Further, manufacturers are focusing on developing forestry equipment, which will have reduced effects on soil and fuel efficiency. This, in turn, is expected to boost the market growth for forestry equipment.

Key Industry Players in the Market for Forestry Equipment

The report presents a detailed analysis of the following key players in the global forestry equipment market, looking into their capacity, market shares, and latest developments like capacity expansions, plant turnarounds, and mergers and acquisitions:

• Deere & Company
• Komatsu Ltd.
• Hitachi Construction Machinery Co., Ltd.
• Barko Hydraulics, LLC
• Caterpillar Inc.
• Rottne Industry AB
• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report

Forestry Equipment Market Report Snapshots

Forestry Equipment Market Size

Forestry Equipment Market Share

Forestry Equipment Market Growth

Forestry Equipment Companies