Forestry Equipment Market 2020 - Development Status and Opportunity Assessment to 2026
Category: #headlines  By Rahul Varpe  Date: 2020-11-04
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Forestry Equipment Market 2020 - Development Status and Opportunity Assessment to 2026

Extensive applications in manufacturing wood-based panels, furniture, wood pallets, and pulp & wood processing will drive forestry equipment market in the ensuing years. This equipment has significant usage owing to its accuracy in heavy-duty operations, including forest management, sanctuary conservation, vegetation clearance, wildlife, and lodging. A marked rise in urbanization and upsurge in disposable income has induced demand for wood-based products and proliferated forestry equipment industry.

Forestry equipment market demand has propelled due to rising vegetation management, restoration, and conservation of national forests. Government authorities are introducing various reforestation initiatives to save natural calamity-affected watersheds. The U.S. government authorities are encouraging regeneration harvesting or treatments of timbers in order to stabilize the ecosystem, which will stimulate forestry equipment market trends.

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According to a comprehensive research report, forestry equipment market size is likely to surpass a valuation of $17 billion by 2026.

North America has emerged as a pivotal growth ground for forestry equipment industry. The region has witnessed an immense demand for roundwood and sawlogs. Forestry equipment market players are introducing equipment with efficient & more productive engines and advanced safety features. For example, in March 2017, Hitachi rolled out forestry equipment in North America integrated with Stage IV Isuzu engine. The forestry equipment is capable of increasing productivity and decreasing maintenance costs.

North America is witnessing an increase in forestry equipment rental services owing to the augmenting consumption of wood-based products for developing infrastructure. Companies operating in forestry equipment market are endeavoring to expand their sales network and enhance public relations. For instance, in August 2019, Komatsu selected Tractor & Equipment Company (TEC) as its distributor to expand its footprints across North America.

Raw material harvesting has generated an enormous requirement for forest equipment due to surging need for wood-based panels, including particleboard, fiberboard, plywood, and Oriented Strand Board (OSB). This equipment has majorly found uses to cut tress, delimb, drag woods to specific locations, and make wood chips. A series of investments to effectuate research & development activities to develop advanced products will create new opportunities for forestry equipment market players.

Wood chips are massively used in construction, fuel & composting materials, and erosion control. The advent of organic farming has impelled adoption of wood chips and other organic matters, including grass cutting and dead leave in the form of fertilizers. Forestry equipment market participants are rolling out economic self-propelled chippers for effective functioning. For example, in August 2019, Alle Rechte vorbehalten introduced self-propelled chippers incorporated with a 612 hp-786 hp engine variant.

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Forestry equipment behemoths are adopting various business strategies, such as innovations, collaborations, partnerships, and mergers to strengthen their foothold. They are integrating various technologies, such as Artificial Intelligence to retain customers. A few of the prominent forestry equipment market players are Caterpillar, Deere & Company, Barko Hydraulics LLC, Doosan Infracore Co. Ltd., Hyundai Heavy Industries Co. Ltd., Komatsu Ltd., JCB, Bell Equipment, AB Volvo, and Liebherr Group amongst others.

 

 

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About Author

Rahul Varpe

Rahul Varpe    

Rahul Varpe currently writes for Technology Magazine. A communication Engineering graduate by education, Rahul started his journey in as a freelancer writer along with regular jobs. Rahul has a prior experience in writing as well as marketing of services and products ...

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