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Report Overview
2023
Base Year
2018-2023
Historical Year
2024-2032
Forecast Year
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 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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