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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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.
Forestry Equipment Market Report Snapshots
Forestry Equipment Market Size
Forestry Equipment Market Share
Forestry Equipment Market Growth
*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
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Key Questions Answered in the Report
In 2023, the global forestry equipment market attained a value of nearly USD 11.59 billion.
The market is projected to grow at a CAGR of 4% between 2024 and 2032.
The growing awareness of forest preservation and related practices, the transformation of forestry activities from manual to automated mode of operation in forests, the robust growth of the construction sector, and the rising health awareness are the major market drivers.
The key trends guiding the market growth include the growing demand for wood and various by-products and the rising trend towards the use of mechanical forest tree cutting procedures.
The major regions in the market are North America, Latin America, Europe, the Middle East and Africa, and the Asia Pacific.
The various products considered in the market report are harvester, feller bunche, forwarder, skidders, bunchers, loaders, and mulcher, among others.
The several segments based on power considered in the market report are electric, gas, and oil.
The major players in the market are Deere & Company, Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., Barko Hydraulics, LLC, Caterpillar Inc., and Rottne Industri AB, among others.
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