In 2018, About USD 11.4 Trillion was Spent on Construction Around the World, and Global Construction Spending is Expected to Reach USD 17.5 Trillion by 2030

Wood is used widely as a building material; when it comes to sustainable construction, it is the most common material. The peculiar qualities of wood have been used to create an infinite number of buildings. This highly durable material is widely used for building houses and shelters and is often used in the furniture and home decor industry. The high growth in construction industry has increased the utilization of wood. This wood is extracted from forest by using forestry equipment, thus increasing the market's growth.

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Global Forestry Equipment Market is expected to reach USD 12,942.83 million by 2028 from USD 8,876.90 million in 2020, growing with the CAGR of 5.3% in the forecast period of 2021 to 2028. The growth of forest machinery and equipment has grown over the years as the role of forest management activities have increased. The machines are being designed now that cause shallow effect on the soil and do not cause any damage while harvesting and felling. Forest equipment increases the complete logging process's speed and provides higher productivity that manual labor cannot achieve. The market players are therefore developing highly advanced equipment and machinery that can provide higher efficiency, increase productivity, and provide a safe working environment.              

Rapid urbanization and technological advancements across the world will drive the market's growth rate

There are several types of material, such as felling equipment, extracting equipment, on-site processing equipment, and cutting and loading equipment. Felling equipment is those equipment that aids in cutting trees and accomplishing the first process of logging. Extracting equipment aids in the movement of fallen logs on the ground after cutting to a roadside landing. On-site processing equipment helps process the stem by removing the head of the tree, cleaning it, and cutting it into the desired size. The logs after extraction must be sent at the mils for further processes, the equipment involved in lifting these logs and transporting them to the desired location are termed cutting and loading equipment.

Report Scope and Market Segmentation

Segment Analysis:

Global forestry equipment market is segmented into eight notable segments which are based on type, product, power source, material, forest type, system type, technique and distribution channel.

• On the basis of type, global forestry equipment market has been segmented into felling equipment, extracting equipment, on-site processing equipment, cutting and loading equipment and other equipment. In 2021, felling equipment segment is expected to dominate the global forestry equipment market with 36.77% market share as this is utilized for tree cutting such as timber, pine trees, and is even stated to be the first process of cutting the trees.
• On the basis of product, global forestry equipment market has been segmented into delimbers, feller bunchers, stump grinders, mulchers, yarders, forwarders, log loaders, harvesters, skidders, timber transport trucks, chippers for energy-wood and others. In 2021, harvesters segment is expected to dominate the global forestry equipment market with 28.17% market share owing to the increase in the demand the product due to its self-propelling capability of felling and processing trees, which makes easier for the workers to cut trees.
• On the basis of power source, global forestry equipment market has been segmented into petrol, electric corded, battery, cordless and others. In 2021, petrol is expected to dominate the global forestry equipment market with 50.70% market share as majority of the equipment are equipped with petrol engine for providing more power for using in forest to complete the task of cutting.
• On the basis of material, global forestry equipment market has been segmented into wood, metal, plastic, recycled plastics, synthetic resin and others. In 2021, metal segment is expected to dominate the global forestry equipment market with 68.30% market share as metal gives more strength, stability and reliability to the equipment while operating in the forest and thus, product like heads, cutters, cranes buckets are being manufactured by using metal.
• On the basis of forest type, global forestry equipment market has been segmented into natural, man-made and tree plantations In 2021, man-made segment is expected to dominate the global forestry equipment market with 45.82% market share as forestry equipment is majorly used in timber and pine cutting for export purpose. Adding to this, lands are also converted to man-made forest for enhancing the timber business.
• On the basis of system type, global forestry equipment market has been segmented into full-tree systems, short wood systems and tree-length systems. In 2021, full-tree systems segment is expected to dominate the global forestry equipment market with 45.96% market share as it involves felling and transportation of tree directly to the sawmill for further processing which consume less time and energy and is majorly adopted by companies.
• On the basis of technique, global forestry equipment market has been segmented into tree felling, topping and debranching, debarking, extraction, log making/cross-cutting, scaling, sorting and piling, loading and others. In 2021, debarking segment is expected to dominate the global forestry equipment market with 33.60% market share as this technique cuts the bark of trees and makes further process easier for the cutter such as topping and debranching.

The debarking segment will dominate the technique segment of the forestry equipment market

The debarking segment will emerge as the dominating segment technique segment. This is because of the growing availability of debarking equipment in the market especially in the developing economies. Further, growth and expansion of research development services on a global scale will further bolster the growth of this segment.

• On the basis of distribution channel, global forestry equipment market has been segmented into B2B/direct sales, third party distributors, e-commerce, specialty stores, brand websites and others. In 2021, B2B/direct sales segment is expected to dominate the global forestry equipment market with 50.63% market share as this distribution channel is widely used by the companies to sell their product easily to its customers with maximum reach and even helps in maximizing the customer base.

The B2B/direct sales segment will dominate the distribution channel segment of the forestry equipment market

The B2B/direct sales segment will emerge as the dominating segment under distribution channel. This is because of the growing number of infrastructural development activities in the market especially in the developing economies. Further, growth and expansion of the chemicals and materials industry all around the globe will further bolster the growth of this segment.

Major Players         

Data Bridge Market Research recognizes the following companies as the market players in market: Konrad Forsttechnik GmbH (Germany), Komatsu Forest (Sweden), HSM Hohenloher Spezial-Maschinenbau GmbH & Co. KG (Germany), SP Maskiner (Sweden), Log Max AB (Sweden), FTG Cranes AB (Sweden), CRANAB AB (Sweden), Penz crane GmbH (Germany), Quadco Inc. (Canada), Southstar Equipment (Canada), Rotobec (Canada)

Market Development

• In February 2020, CRANAB AB announced the launch of CT35, CT40 and CT50, as new grapple series for trucks. The new grapples now offer light-weight and compact design and can easily fit into any type of cranes. The new series of grapple increased the product offering of the company.
• The DX380LL-5 and DX300LL-5 are two new road builders that Doosan Infracore North America LLC added to its lineup of forestry products in May 2021. The new models are modified DX380LL-5 and DX300LL-5 log loaders with a road-building kit from the manufacturer. They blend the excavator's boom and arm construction with the log loader's mainframe.
• AGCO Corporation, a global leader in the design, manufacture, and distribution of agricultural machinery and precision agriculture technology, introduced the Precision Ag Line (PAL) programme, a tool created to streamline support services for farming customers who use AGCO solutions, in July 2021.

Regional Analysis

Geographically, the countries covered in the market report are U.S., Canada and Mexico in North America, Germany, France, U.K., Netherlands, Switzerland, Belgium, Russia, Italy, Spain, Turkey, Rest of Europe in Europe, China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), Brazil, Argentina and Rest of South America as part of South America.

As per Data Bridge Market Research analysis:

North America is the dominant region in forestry equipment market during the forecast period 2021 to 2028

North America dominates the market due to rising aftermarket sales and evolving cut-to-length logging practices in the area, the region is predicted to experience moderate growth throughout the projected period.

Asia-Pacific is estimated to be the fastest-growing region in forestry equipment market the forecast period 2021 to 2028

Asia-Pacific is expected to have the greatest CAGR. This expansion is attributable to the ongoing development strategies designed to strengthen the forestry sectors of countries like China, India, and Indonesia.    

COVID-19 Impact

The COVID-19 pandemic significantly impacted the forestry sector. Some downstream wood processors had to temporarily close during the lockdown that occurred during the first half of 2020. As a result of the lockdown and restricted movement of persons and materials during the first phase of COVID-19, which led to the closure of the respective locations, several suppliers of forestry equipment experienced supply chain interruption.

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