There has been a rapid increase in the level of technology used for forest harvesting. Growing adoption of mechanized practices together with swelling trend of integrating GPS systems is suitably proving effective for the forest equipment market. In order to understand the actual market scenario, Fact.MR has recently published a fresh study titled “Forestry Equipment Market Forecast, Trend Analysis & Competition Tracking – Global Market Insights 2018-2028”, which comprehensively details about the major developments expected to impact the global market for forestry equipment until 2028.
As per this new Fact.MR study, more than 12 million units of forestry machinery were traded in 2018; sales are projected to record over 3% Y-o-Y growth in 2019. The assessment opines that upgraded technologies, including unmanned aerial vehicles (UAVs) and LiDAR, are observing pervasive adoption across the forestry machinery sector that is assisting operators in real-time surveillance as well as mapping activities. Furthermore, advances and implementation of technologies in the forestry landscape doesn’t show any signs of reduction, which is eventually motivating forestry equipment market growth. With a long-term outlook of the forestry equipment market, it is anticipated that the concerned sector will record growth at 5% CAGR through 2028.
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Global Requirement for Wood & Associated Products Support Market Expansion
It has been observed that growing demand for wood and wood products have ominously upheld the need for forestry machinery. In addition, policies suitable to afforestation, instead of deforestation, have thereby instigated the adoption of forestry machinery for ‘thinning’ process which endorses environment sustainability by taming forest health.
Automated Nurseries and Advanced Genetic Improvements Support the Execution of Forestry Machinery
Focusing at the key practices, advanced genetic improvement preferred for genetic profile for plants and automated nurseries for nurturing plants under best conditions have considerably underpinned the acceptance of forestry machinery among harvesters at the global level. Looking at these trending aspects, there is a high possibility that technology would indeed transform the look of forestry machinery market in the coming years, with key resolutions like IoT influencing the landscape quite vigorously.
Developed Markets Deliver Positive Future to Forestry Machinery Manufacturers
Based on this study, volume sales of forestry equipment is likely to stay high in Europe, narrowly followed by North America. It should be noted that these two regions jointly manage more over 70% sales. Furthermore, sales of forestry equipment sales in Europe and North America are sustained by a union of factors such as support of advantageous funding policies of the government concerned with national development programs, together with rising adoption of vital mechanized practices like cut-to-length (CTL) approach.
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The final section of the report is designated to highlight the competitive scenario prevailing across the global forestry equipment market. Each of the companies mentioned in the study are examined in terms of product portfolio, sales footprint and strategy overview. The leading players discoursed in the report include Komatsu, Deere and Co., Tigercat International Inc, Barko Hydraulics L.L.C., Doosan Infracore North America Llc, Ponsse Oyj and Rottne Industri AB.
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