Categories: Market Research

Forestry And Logging Market Forecast 2024-2033: Growth Rate, Drivers, And Trends

The Forestry And Logging by The Business Research Company provides market overview across 60+ geographies in the seven regions – Asia-Pacific, Western Europe, Eastern Europe, North America, South America, the Middle East, and Africa, encompassing 27 major global industries. The report presents a comprehensive analysis over a ten-year historic period (2010-2021) and extends its insights into a ten-year forecast period (2023-2033).

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According to The Business Research Company’s Forestry And Logging, The forestry and logging market size has grown strongly in recent years. It will grow from $1072.53 billion in 2023 to $1163.19 billion in 2024 at a compound annual growth rate (CAGR) of 8.5%. The growth in the historic period can be attributed to growth in residential construction activity, increasing demand for cruise ships, increased demand for tissue and paper products and economic growth.

The forestry and logging market size is expected to see strong growth in the next few years. It will grow to $1607.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.4%. The growth in the forecast period can be attributed to increasing construction of wooden buildings, adoption of automated forestry management, increasing use of biomass and increasing demand for wooden furniture. Major trends in the forecast period include focus on reforestation, incorporating new and improved techniques in harvesting logs, using big data to detect the best time for logging and transport and involving drones for forest management.

Wood use as a building material is increasing due to the numerous advantages of wood buildings over concrete buildings, thus driving the market for forestry and logging producers. Presently, the building industry is causing 25% of the greenhouse gas emissions globally and therefore the concept of green building construction has evolved, which is expected to reduce CO2 emissions and store carbon. Also, constructing buildings with wood will produce very little waste and can be constructed quickly when compared to a concrete building. For instance, in December 2022, according to the Natural Resources Institute, a Finland-based government office, total round wood use in Finland in 2021 was 85.2 million cubic meters, a 9% rise from 2020. Furthermore, the number of by-products and other types of wood waste used was 27.7 million cubic meters, which is an increase of 17% over the previous year. Therefore, increasing wood use as a building material is driving the market for forestry and logging producers.

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The forestry and logging market covered in this report is segmented –

1) By Type: Logging, Timber Tract Operations, Forest Nurseries and Gathering of Forest Products

2) By Offering: Hardware, Software, Services

2) By Application: Construction, Insutrial Goods, Other Applications

Advanced techniques in forest logging methods have improved safety, fibre utilization, environmental protection, and productivity with minimum damage to residual trees. The different improved methods of logging are harvester/forwarder systems, cable harvesting systems, and helicopter logging. Harvester or forwarder types of logging are most common in northern and central Europe, and their use is expected to increase in the future due to their economic, ergonomic, and ecological advantages over motor/manual (saw/skidding) harvesting. Cable harvesting is used in mountainous regions, whereas helicopter logging is popular in environmentally constrained and remote areas. According to a recent study, improved logging operations result in a 30% increase in wood volume, and damage to residual trees can be reduced to 20%. For instance, Markit! Forestry Management has employed helicopter logging for some portions of the Dry Lake Hills area as transport of logs, lumber, and felled trees was difficult due to the steep slope of the land.

The forestry and logging market report table of contents includes: