DUBLIN--(BUSINESS WIRE)--The "Forestry Equipment Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)" report has been added to ResearchAndMarkets.com's offering.
The forestry equipment market is expected to register a CAGR of 4.75% over the forecast period of 2021 - 2026.
According to New Zealand's Ministry for Primary Industries, Forestry is New Zealand's third-biggest export industry, after dairy and meat, accounting for around USD 5 billion a year, and 3.2% of the country's gross domestic product. ATS Logging Limited is using six Volvo Construction Equipment (Volvo CE) excavators at three plantation forests across New Zealand, which are helping the industry to meet its target of USD 12 billion in forest and wood product exports by 2022, set by the Wood Council of New Zealand.
- John Deere
- Komastu Ltd.
- Volvo CE
- Hitachi Construction Machinery Co. Ltd.
- Barko Hydraulics LLC.
- Doosa Infracore North America LLC.
- Kesla Oyj
- Ponsse Oyj
- Rottne Industri AB.
- Eco Log Sweden AB
- Mahindra Group
- AGCO Corporation
- Concern Tractor Plants
- Escorts Group
- Bell Equipment Limited
Key Market Trends
Increasing Automation Will Boost Demand for Forestry Equipment
- To improve productivity, dependance on mechanized methods for forest harvesting has increased steadily over the years. High-performance equipment such as harvesters can cut a tree from the base, debark it and cut into required lengths within a minute span.
- Increasing demand for wood and wood products, abreast of the paradigm shift to mechanized processes for felling forest trees, have significantly upheld the demand for forestry machinery. This, in return, pushes for more automation.
- Moreover, Labor remains the largest overhead in the forest industry at least one-third or more of the total cost in logging operations and a reduced interest in the forest field, the move towards automation is more than fruitful.
- Automation has eased the need for harder-to-fill jobs while simultaneously lowering the costs of operation by reducing labor overhead.
- Furthermore, automation will aid new dimensions in the coming years in forest industry by making the task easy, productive, efficient and achieving the desired result in a short span of time.
Asia Pacific to be Fastest Growing Market
- Asia-Pacific will remain the largest region and fastest-growing region during the forecasted period.
- Moreover, due to growth in building and construction activities and increasing demand for woods in home furnishing applications, the region is expected to have high volumes of demand.
- Furthermore, the Asia-Pacific has become a major producer, consumer, and exporter of wood products. Industrial Roundwood production has grown but demand is rising faster, increasing dependence on imports.
- According to FAO United Nations, 2019 report, total Roundwood consumption has been relatively stable in the region for the last two decades at about 1.2 billion m3 per year, with efficiency gains and recycling reducing the volume of virgin industrial wood required.
- Thus the demand for forestry equipment in this region is expected to be higher side in the coming years.
Key Topics Covered:
2 RESEARCH METHODOLOGY
3 EXECUTIVE SUMMARY
4 MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.2.1 Increasing Automation to Boost the Forestry Equipment Demand
4.2.2 Replacement of Older less Productive Forestry Machinery by Logging Firms
4.3 Market Restraints
4.3.1 High Cost of Forestry Equipment
4.3.2 Lack of Information About Forestry Equipment
4.4 Industry Value ChainAnalysis
4.5 Industry Attractiveness - Porter's Five Force Analysis
4.6 Impact of COVID-19 on the Market
5 MARKET SEGMENTATION
5.1 Product Type
5.1.1 Felling Equipment
18.104.22.168 Feller Bunchers
5.1.2 Extracting Equipment
22.214.171.124 Other Extracting Equipment
5.1.3 On-Site Processing Equipment
126.96.36.199 Chippers & Grinders
188.8.131.52 Delimbers, Slashers
184.108.40.206 Other On-Site Processing Equipment
5.1.4 Other Forestry Equipment
220.127.116.11 Other Forestry Equipment
5.1.5 Separately Sold Parts and Attachments
18.104.22.168 Saw Chain, Guide Bars, Discs, & Teeth
22.214.171.124 Harvesting & Other Cutting Heads
126.96.36.199 Other Parts & Attachments
5.2.1 North America
5.2.3 Asia Pacific
5.2.4 Latin America
5.2.5 Middle East and Africa
6 COMPETITIVE LANDSCAPE
6.1 Company Profiles
7 INVESTMENT ANALYSIS
8 FUTURE OF THE MARKET
For more information about this report visit https://www.researchandmarkets.com/r/6clg9r