SELBYVILLE, Del., June 22, 2021 / PRNewswire / – Global Market Insights Inc. recently added a new forestry equipment market report that estimate market value for forestry equipment will cross 13 billion dollars by 2027. The forestry equipment market is experiencing strong growth due to the growing demand for products made from residues and recycled materials used in the manufacture of particle boards. Increased awareness of the use of environmentally friendly residual forest products will stimulate market demand.
The outbreak of the COVID-19 pandemic has had a negative impact on global economic conditions. The growth of the forestry equipment market has had a severe impact due to the pandemic. Sales of new equipment have been hampered by rising financial insecurity within forestry companies. The industry has experienced a high demand for rental equipment over new equipment due to the high cost of new machinery. With the gradual reopening of key markets and the stabilization of economic conditions, the market will experience steady growth.
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The increasing use of chainsaws for commercial forestry applications is driving the forestry equipment market. In household applications, chainsaws are used for pruning applications and cutting lumber into pieces for use in a kiln. The commercial application of chainsaws involves cutting logs of wood to required lengths. The massive use of chainsaws associated with the launch of new products increases the demand for products. For example, in September 2019, MAKITA has introduced brushless, cordless and handle chainsaws equipped with lithium-ion batteries. New low-carbon electric chainsaws will improve the market demand for forestry equipment.
Asia Pacific is witnessing a growing trend in renting new forestry machines due to their efficiency and minimal maintenance requirements compared to old equipment. In addition, to solve the problem of unskilled personnel handling technologically advanced equipment, several rental companies have started to provide training for staff members, accelerating the growth of the industry.
The players active in the forestry equipment market are Ponsse PLC, Hitachi Construction Machinery, Eco Log Sweden AB, Kesla Oyj, Tigercat International and Husqvarna AB. Companies invest in R&D and innovation to improve the functionality and capacity of their forestry equipment models. For example, in March 2021, Tigercat International has introduced updated features in its 875 recorder equipment. Features include an updated operator’s cab, redesigned grapple configurations, reduced noise in the cab, a rear view camera system and a large touch screen. The modifications will increase the productivity and efficiency of the recorder.
Here are some of the key findings of the Forestry Equipment Market report:
- The integration of cloud computing solutions and IoT technology in harvesters, forwarders and skidders supports the forestry equipment market.
- The emergence of telematics has helped users track productivity in real time. Manufacturers introduce engines with advanced technology that are very efficient and economical.
- The improvement of new engine standards by Europe and the United States strengthen the forestry equipment market. Machines are increasingly used in the harvesting of roundwood and sawn timber for residential applications.
- Increasing government investments in the development of robust public infrastructure will create a huge demand for forestry equipment to clear large tracts of land.
- Increase forest maintenance activities by Latin America are driving the demand for large forestry machines.
- The increase in the extraction of wood and non-wood forest products creates opportunities for the forest rental industry.
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Partial chapters of the table of contents (TOC) of the report:
Chapter 3 Industry Overview
3.1 Industry segmentation
3.2 Impact of COVID-19 on the forest equipment industry landscape
3.2.1 Global outlook
3.2.2 Regional impact
220.127.116.11 North America
18.104.22.168 Asia Pacific
22.214.171.124 Latin America
3.2.3 Industry value chain
126.96.36.199 Research & development
3.2.4 Competitive landscape
188.8.131.52 Distribution network
184.108.40.206 Business growth
3.3 Industry Ecosystem Analysis
3.3.1 Component suppliers
3.3.3 Profit Margin Analysis
3.3.4 Technology providers
3.3.5 End-use landscape
3.3.6 Analysis of distribution channels
3.3.7 Matrix of suppliers
3.4 Technology and innovation landscape
3.4.1 IoT and IA
3.4.3 Autonomous forestry machines
3.5 Regulatory landscape
3.5.1 North America
3.5.3 Asia Pacific
3.5.4 Latin America
3.6 Industry impact forces
3.6.1 Growth drivers
220.127.116.11 Deployment of innovative U-shaped forestry equipment and Europe
18.104.22.168 Growing use of wood pellets for industrial and domestic applications around the world
22.214.171.124 Innovation of technically advanced forwarders and harvesters around the world
126.96.36.199 Increasing government initiatives for the management of vegetation and forests in Asia Pacific
188.8.131.52 Proliferation of rental forestry equipment in Latin America and MEA
184.108.40.206 Growing awareness of forest mechanization globally
3.6.2 Pitfalls and challenges of the industry
220.127.116.11 Cyclical concerns about high upfront and maintenance costs
18.104.22.168 Limited consumer awareness in developing countries
3.7 Analysis of growth potential
3.8 Porter’s analysis
3.8.1 Supplier authority
3.8.2 Purchasing power
3.8.3 Threat of new entrants
3.8.4 Threat of substitutes
3.8.5 Internal rivalry
3.9 PESTEL analysis
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Forest equipment market is worth more 13 billion dollars by 2027
The forestry equipment market is expected to exceed 13 billion dollars by 2027, according to a new research report from Global Market Insights Inc.
SOURCE Global Market Insights Inc.