Global market survey and estimation about forest equipments between 2021 to 2027

The global forestry equipment market volume was up to USD 9.6 billion in 2020 and is expected to grow at a compound annual growth rate (CAGR) of 4.5% from 2021 to 2027. 

Based on product type, the global market is classified into felling, extracting, on-site, and other equipment. 

Felling equipment has the biggest market market share and occupies over 36% of the global revenue in 2020. The segment consists of equipment, such as a chainsaw, feller buncher, and harvester. Feller buncher is estimated to be the fastest-growing sub-segment from 2020 to 2027 owing to improved safety and higher production efficiency compared with chainsaw.

Extracting equipment cover skidder and forwarder. The product segment is anticipated to be at the highest growth rate owing to the increasing adoption of equipment that adopts automated technologies and highly mechanized methods. Forwarders dominated the global extracting equipment segment because of the rising demand for fast and improved transit of logged woods from forests to supply areas. Other forestry equipments are mulcher and loader.

North America leds the market and accounted for over 37% of the global revenue in 2020. The region is expected to keep moderate growth oowing to the increasing aftermarket sales coupled with changing cut-to-length logging methods in recent years.

The rising demand for the forestry equipment in Europe arises from the high return-on-investment and rise in mechanized practices, low competition, and adoption of precision forestry.

Asia Pacific is anticipated to register the highest CAGR of 4.4% from 2020 to 2027. 

Key market players are devoted to  developing advanced equipment that offers superior productivity and operations efficiency without compromising on quality and safety. The rising focus of the major suppliers on new product launches will still drive the market growth.

The global key players adopt various strategies, such as novel product launch, product development, and capacity utilization, to stand strong with a competitive edge in the international market. Furthermore, the companies also making acquisitions, mergers, collaborations, market expansion, and product diversification strategies to ensure marketshare. Some of the prominent players in the forestry equipment market include:

Hitachi Construction Machinery Co. Ltd.
Deere Construction & Forestry
Epiroc AB
Komatsu Ltd.
Sandvik AB
LiebherrInternational AG
Volvo Construction Equipment