Forestry Machinery Market Growth Outlook Through 2024-2033

Overview and Scope
Forestry machinery refers to a wide range of equipment and vehicles used in the forestry industry to carry out various tasks, such as harvesting, processing, and transporting timber for logging or various other forestry services. They are used for both logging and land clearing in an agricultural setting.

Sizing and Forecast
The forestry machinery market size has grown strongly in recent years. It will grow from $9.03 billion in 2023 to $9.61 billion in 2024 at a compound annual growth rate (CAGR) of 6.4%. The growth in the historic period can be attributed to timber industry expansion, environmental awareness government policies and regulations, global demand for wood products, natural disaster response.

The forestry machinery market size is expected to see strong growth in the next few years. It will grow to $11.91 billion in 2028 at a compound annual growth rate (CAGR) of 5.5%. The growth in the forecast period can be attributed to renewable energy and biomass utilization, evolving logging practices, climate change adaptation, rising urbanization, government incentives for sustainable practices. Major trends in the forecast period include automation and technology integration, fuel efficiency and alternative power sources, data analytics and remote monitoring, safety features and ergonomics, circular economy and recycling initiatives.

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Segmentation & Regional Insights
The forestry machinery market covered in this report is segmented-

1) By Type: Feller Bunchers, Harvester, Skidders, Loaders, Forwarders, Grapples, Felling Heads, Harvesting Heads, Yarders, Other Types
2) By Operation: Diesel, Electrical Hybrid
3) By Sales: Used Units, New Units

Europe was the largest region in the forestry machinery market in 2023. Asia-Pacific is expected to be the fastest-growing region in the global forestry machinery market report during the forecast period. The regions covered in the forestry machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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Major Driver Impacting Market Growth
Growing demand for wood and wood products is driving the forestry machinery market forward. Wood products refer to items or materials that are made from or derived from wood. The main function of forestry machinery is the clear-cut production of wood. The wood used for making wood products is harvested from forests using forestry machinery such as loggers and harvesters that makes large forestry tasks much easier. For instance, in December 2022, according to the reports shared by Eurostat, a Luxembourg-based government agency, Europe’s roundwood production increased by 3.9 percent in 2021. Furthermore, in 2022, according to the United Nations Economic Commission for Europe, a Switzerland-based regional commission of the United Nations, the production of sawn softwood in the US was 63.4 thousand cubic meters, which was up by 1.1 % from 2020. Further, the wood products consumption index increased by 5.5% from 95.9 in 2020 to 101.2 in 2021 and the consumption index for paper and pulpwood products grew from 93.9 in 2020 to 95.5 in 2021, an increase of 1.7%. Therefore, growing demand for wood and wood products is driving the growth of the forestry machinery market.

Key Industry Players

Major companies operating in the forestry machinery market report are John Deere, Komatsu Ltd., Barko Hydraulics LLC., Tigercat International Inc., Caterpillar Inc., Rottne Industri AB, Kawasaki Heavy Industries Ltd., The Volvo Group, Hitachi Construction Machinery Co. Ltd., Claas KGaA mbH., Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., Liugong Machinery Co. Ltd., Ponsse PLC, CNH Industrial N.V., The Husqvarna Group, Morbark LLC, Eco Log Sweden AB, Valmet Oyj, Sany Heavy Industry Co. Ltd., Kesla Oyj, Link-Belt Excavators, Tanguay Machinery, Ecoforst GmbH, Palfinger Epsilon, Logset Oy, Terex Deutschland GmbH, Bell Equipment Company SA (Pty) Ltd., Sennebogen LLC, Vimek AB, Log Max AB, Waratah Corporation, STIHL Holding AG & Co. KG

The forestry machinery market report table of contents includes:

1. Executive Summary
2. Forestry Machinery Market Characteristics
3. Forestry Machinery Market Trends And Strategies
4. Forestry Machinery Market – Macro Economic Scenario
5. Global Forestry Machinery Market Size and Growth
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31. Global Forestry Machinery Market Competitive Benchmarking
32. Global Forestry Machinery Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Forestry Machinery Market
34. Forestry Machinery Market Future Outlook and Potential Analysis
35. Appendix

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