- Chainsaw
- Feller Buncher
- Harvester
- Others
Forestry Equipment Market size was valued at USD 10,532.5 million in 2023 and grew at 4.6% CAGR over the historical years (2019 - 2023). The Forestry Equipment Market is projected to reach USD 14,551.2 million by 2030 at a CAGR of 4.8%. The expanding emphasis on forest management operations, together with increased investments in the forestry sector, is expected to boost product demand over the projection period. Furthermore, substantial technological breakthroughs in the logging method, as well as developments in forest science to improve forest operations such as fire risk reduction and low-impact harvesting, are expected to drive the market.
Forestry Equipment Market Key Developments:
- In June 2023, Volvo Construction Equipment (Volvo CE) has announced the formation of a new Compact Business Unit. Volvo CE has established a dedicated business unit for its compact equipment machines and solutions to promote growth and profitability in this significant and rapidly expanding product sector.
- In May 2023, Caterpillar has introduced the MH3050, its new material handle. The 3050 boasts exceptional performance, dependability, and cab comfort. Furthermore, its innovative electrohydraulic system optimizes the balance of power and efficiency, allowing it to handle more material in the same period while increasing profit potential. The MH3050 enhances Cat's material handler lineup and industrial applications.
Forestry Equipment Market Summary
Study Period
2024-2030
Base Year
2023
CAGR
4.8%
Largest Market
North America
Fastest Growing Market
Asia Pacific
Forestry Equipment Market Dynamics
The construction industry is a key consumer of forestry-based products, and it is likely to expand during the projection period as demand for timber and wood-based products rises, as does the need for infrastructure development. The construction industry entered 2023 with a 7% increase in nominal value added and a 6% increase in nominal gross output over the previous year and is predicted to increase by three percent per year, total construction spending was US$1.98 trillion in August 2023. The transformation of forestry activities from manual to automated modes of operation in forests is expected to stimulate demand for forestry equipment during the forecast period. Leading market players in the sector are transforming the market landscape by producing forestry machines connected with telematics and GPS systems for real-time tracking and monitoring of machinery, hence increasing efficiency. However, several factors contribute to the high maintenance expenses of forestry equipment, including the machinery's complexity, the harsh working conditions under which it is frequently utilized, and the necessity for regular servicing and repairs.
North-America Got Significant Share of
Forestry Equipment Market Regional Analysis
Based on regions, the market is segmented into North America, Europe, Asia-Pacific, Latin America, and Middle East and Africa. North America is expected to increase significantly throughout the forecast period, owing to rising aftermarket sales and a trend toward modified cut-to-length logging practices in the region. According to the United States Department of Agriculture, agriculture, food, and associated industries had contributed approximately $1.530 trillion to the US gross domestic product (GDP) in 2023, accounting for 5.6%. The output of America's farms contributed $203.5 billion to this total, or around 0.7 percent of US GDP. The area is currently undergoing a boom in timber extraction activities, and the growing extraction of both wood and non-timber forestry products is expected to present chances for forest equipment manufacturers to supplement their product offerings. The increased use of mass timber in architecture design is driving positive forest management practices in the United States. The resulting increase in demand for wood products, including paper and biomass for electricity, is expected to drive the demand for various forestry equipment, including as loaders, mulchers, and other on-site equipment, to aid in timber harvesting in the region's forest industry.
Latin America
Europe
Asia Pacific
Middle East
North America
Forestry Equipment Market Segmentation
By Felling Equipment
By Extracting Equipment
- Forwarder
- Skidder
- Others
By On-Site
- Chippers and Grinders
- Delimbers and Slashers
- Others
By Other Forestry Equipment
- Loaders
- Mulchers
- Others
Frequently Asked Questions
The Forestry Equipment Market was valued at USD 10,532.5 million in 2023 and is projected to reach USD 14,551.2 million in 2030, growing at a CAGR of 4.8%.
Increasing awareness of forest preservation and management is expected to drive demand for diverse forestry equipment, including forwarders, harvesters, and loaders.
The transformation of forestry activities from manual to automated modes of operation in forests is expected to stimulate demand for forestry equipment during the forecast period.
Market research is segmented based on felling equipment, extracting equipment, on-site, other forestry equipment and region
North America is estimated to have highest share with the highest CAGR over the forecast period.
Key Features of the Reports
- The report provides granular level information about the market size, regional market share, historic market (2019-2023) and forecast (2024-2030)
- The report covers in-detail insights about the competitor's overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup's details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter's Five Force Analysis in addition to recent technology advancements and innovations in the market.
| 1.Executive Summary |
| 2.Global Forestry Equipment Market Introduction |
| 2.1.Global Forestry Equipment Market - Taxonomy |
| 2.2.Global Forestry Equipment Market - Definitions |
| 2.2.1.Felling Equipment |
| 2.2.2. Extracting Equipment |
| 2.2.3.On-Site |
| 2.2.4.Other Forestry Equipment |
| 2.2.5.Region |
| 3.Global Forestry Equipment Market Dynamics |
| 3.1. Drivers |
| 3.2. Restraints |
| 3.3. Opportunities/Unmet Needs of the Market |
| 3.4. Trends |
| 3.5. Product Landscape |
| 3.6. New Product Launches |
| 3.7. Impact of COVID 19 on Market |
| 4.Global Forestry Equipment Market Analysis, 2019 - 2023 and Forecast 2024 - 2030 |
| 4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) |
| 4.3. Market Opportunity Analysis |
| 5.Global Forestry Equipment Market By Felling Equipment , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 5.1. Chainsaw |
| 5.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.1.3. Market Opportunity Analysis |
| 5.2. Feller Buncher |
| 5.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.2.3. Market Opportunity Analysis |
| 5.3. Harvester |
| 5.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.3.3. Market Opportunity Analysis |
| 5.4. Others |
| 5.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 5.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 5.4.3. Market Opportunity Analysis |
| 6.Global Forestry Equipment Market By Extracting Equipment , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 6.1. Forwarder |
| 6.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.1.3. Market Opportunity Analysis |
| 6.2. Skidder |
| 6.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.2.3. Market Opportunity Analysis |
| 6.3. Others |
| 6.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 6.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 6.3.3. Market Opportunity Analysis |
| 7.Global Forestry Equipment Market By On-Site , 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 7.1. Chippers and Grinders |
| 7.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.1.3. Market Opportunity Analysis |
| 7.2. Delimbers and Slashers |
| 7.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.2.3. Market Opportunity Analysis |
| 7.3. Others |
| 7.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 7.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 7.3.3. Market Opportunity Analysis |
| 8.Global Forestry Equipment Market By Other Forestry Equipment, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 8.1. Loaders |
| 8.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.1.3. Market Opportunity Analysis |
| 8.2. Mulchers |
| 8.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.2.3. Market Opportunity Analysis |
| 8.3. Others |
| 8.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 8.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 8.3.3. Market Opportunity Analysis |
| 9.Global Forestry Equipment Market By Region, 2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 9.1. North America |
| 9.1.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.1.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.1.3. Market Opportunity Analysis |
| 9.2. Europe |
| 9.2.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.2.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.2.3. Market Opportunity Analysis |
| 9.3. Asia Pacific (APAC) |
| 9.3.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.3.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.3.3. Market Opportunity Analysis |
| 9.4. Middle East and Africa (MEA) |
| 9.4.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.4.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.4.3. Market Opportunity Analysis |
| 9.5. Latin America |
| 9.5.1. Market Analysis, 2019 - 2023 and Forecast, 2024 - 2030, (Sales Value USD Million) |
| 9.5.2. Year-Over-Year (Y-o-Y) Growth Analysis (%) and Market Share Analysis (%) |
| 9.5.3. Market Opportunity Analysis |
| 10.North America Forestry Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 10.1. Felling Equipment Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.1.1.Chainsaw |
| 10.1.2.Feller Buncher |
| 10.1.3.Harvester |
| 10.1.4.Others |
| 10.2. Extracting Equipment Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.2.1.Forwarder |
| 10.2.2.Skidder |
| 10.2.3.Others |
| 10.3. On-Site Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.3.1.Chippers and Grinders |
| 10.3.2.Delimbers and Slashers |
| 10.3.3.Others |
| 10.4. Other Forestry Equipment Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.4.1.Loaders |
| 10.4.2.Mulchers |
| 10.4.3.Others |
| 10.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 10.5.1.United States of America (USA) |
| 10.5.2.Canada |
| 11.Europe Forestry Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 11.1. Felling Equipment Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.1.1.Chainsaw |
| 11.1.2.Feller Buncher |
| 11.1.3.Harvester |
| 11.1.4.Others |
| 11.2. Extracting Equipment Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.2.1.Forwarder |
| 11.2.2.Skidder |
| 11.2.3.Others |
| 11.3. On-Site Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.3.1.Chippers and Grinders |
| 11.3.2.Delimbers and Slashers |
| 11.3.3.Others |
| 11.4. Other Forestry Equipment Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.4.1.Loaders |
| 11.4.2.Mulchers |
| 11.4.3.Others |
| 11.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 11.5.1.Germany |
| 11.5.2.France |
| 11.5.3.Italy |
| 11.5.4.United Kingdom (UK) |
| 11.5.5.Spain |
| 12.Asia Pacific (APAC) Forestry Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 12.1. Felling Equipment Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.1.1.Chainsaw |
| 12.1.2.Feller Buncher |
| 12.1.3.Harvester |
| 12.1.4.Others |
| 12.2. Extracting Equipment Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.2.1.Forwarder |
| 12.2.2.Skidder |
| 12.2.3.Others |
| 12.3. On-Site Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.3.1.Chippers and Grinders |
| 12.3.2.Delimbers and Slashers |
| 12.3.3.Others |
| 12.4. Other Forestry Equipment Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.4.1.Loaders |
| 12.4.2.Mulchers |
| 12.4.3.Others |
| 12.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 12.5.1.China |
| 12.5.2.India |
| 12.5.3.Australia and New Zealand (ANZ) |
| 12.5.4.Japan |
| 12.5.5.Rest of APAC |
| 13.Middle East and Africa (MEA) Forestry Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 13.1. Felling Equipment Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.1.1.Chainsaw |
| 13.1.2.Feller Buncher |
| 13.1.3.Harvester |
| 13.1.4.Others |
| 13.2. Extracting Equipment Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.2.1.Forwarder |
| 13.2.2.Skidder |
| 13.2.3.Others |
| 13.3. On-Site Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.3.1.Chippers and Grinders |
| 13.3.2.Delimbers and Slashers |
| 13.3.3.Others |
| 13.4. Other Forestry Equipment Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.4.1.Loaders |
| 13.4.2.Mulchers |
| 13.4.3.Others |
| 13.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 13.5.1.GCC Countries |
| 13.5.2.South Africa |
| 13.5.3.Rest of MEA |
| 14.Latin America Forestry Equipment Market ,2019 - 2023 and Forecast 2024 - 2030 (Sales Value USD Million) |
| 14.1. Felling Equipment Analysis and Forecast by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.1.1.Chainsaw |
| 14.1.2.Feller Buncher |
| 14.1.3.Harvester |
| 14.1.4.Others |
| 14.2. Extracting Equipment Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.2.1.Forwarder |
| 14.2.2.Skidder |
| 14.2.3.Others |
| 14.3. On-Site Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.3.1.Chippers and Grinders |
| 14.3.2.Delimbers and Slashers |
| 14.3.3.Others |
| 14.4. Other Forestry Equipment Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.4.1.Loaders |
| 14.4.2.Mulchers |
| 14.4.3.Others |
| 14.5. Country Analysis 2019 - 2023 and Forecast 2024 - 2030 by Sales Value USD Million, Y-o-Y Growth (%), and Market Share (%) |
| 14.5.1.Brazil |
| 14.5.2.Mexico |
| 14.5.3.Rest of LA |
| 15. Competition Landscape |
| 15.1. Market Player Profiles (Introduction, Brand/Product Sales, Financial Analysis, Product Offerings, Key Developments, Collaborations, M & A, Strategies, and SWOT Analysis) |
| 15.2.1.Hitachi Construction Machinery Co. Ltd. |
| 15.2.2.Deere & Company |
| 15.2.3.Epiroc AB |
| 15.2.4.Sandvik AB |
| 15.2.5.Volvo Construction Equipment |
| 15.2.6.Liebherr international AG |
| 15.2.7.Bell Equipment Limited |
| 15.2.8.Caterpillar, Inc. |
| 15.2.9.Kesla Oyj |
| 15.2.10.Rottne Industri AB |
| 16. Research Methodology |
| 17. Appendix and Abbreviations |
- Hitachi Construction Machinery Co. Ltd.
- Deere & Company
- Epiroc AB
- Sandvik AB
- Volvo Construction Equipment
- Liebherr international AG
- Bell Equipment Limited
- Caterpillar, Inc.
- Kesla Oyj
- Rottne Industri AB