Market Size of Forestry Machinery Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 11.12 Billion |
| Market Size (2029) | USD 13.52 Billion |
| CAGR (2024 - 2029) | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Forestry Machinery Market Analysis
The Forestry Machinery Market size is estimated at USD 11.12 billion in 2024, and is expected to reach USD 13.52 billion by 2029, growing at a CAGR of 4% during the forecast period (2024-2029).
- The growing awareness of forest preservation and management, combined with the increased use of machinery, has increased demand for forestry equipment.Rapid growth in demand for wood and wood-based products has led to the need for mechanized tree felling, creating opportunities for forestry equipment.
- The incorporation of GPS control systems into forestry equipment is one of the fundamental drivers for enhancing production by providing real-time tracking and sustainable operations, consequently significantly increasing its demand in North America and Europe. Additionally, increased demand for wood pellets as a fuel for power plants in developed economies such as Europe and North America is expected to drive market expansion.
Forest resources help to support a strong market for forestry machinery in different parts of the world. According to the United States Forest Service, in 2021, the United States will have generated around 11.97 billion cubic feet of industrial roundwood. Lumber, pulp products, plywood, and veneer are the most common products containing industrial roundwood. Timber product prices have stayed steady or increased during the last decade worldwide. Wood pulp and paperboard demand are also increasing, which has had a positive impact on demand for forestry machinery, thereby increasing demand during the forecast period.
Forestry Machinery Industry Segmentation
Forestry Machinery is machines and power-driven equipment that aids in the excavation, harvesting, and finishing of a wooded area. Global Forestry Machinery Market is segmented by Machinery into Skidders, Forwarders, Swing Machines, Bunchers, Harvesters, Loaders, and other forestry machinery. Global Forestry Machinery Market is segmented by Machinery into Skidders, Forwarders, Swing Machines, Bunchers, Harvesters, Loaders, and other forestry machinery. By Geography it is segmented into North America, Europe, Asia-Pacific, South America, and the Middle East and Africa. The report offers market sizing and forecasts in value (USD million) for all the above segments.
| Machine Type | |
| Skidders | |
| Forwarders | |
| Bunchers | |
| Swing Machines | |
| Harvesters | |
| Loaders | |
| Other Forestry Machinery |
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Forestry Machinery Market Size Summary
The forestry machinery market is poised for steady growth, driven by increasing awareness of forest preservation and the rising demand for wood-based products. The integration of advanced technologies, such as GPS control systems, is enhancing the efficiency and sustainability of forestry operations, particularly in North America and Europe. This technological advancement is coupled with the growing demand for wood pellets as a renewable energy source, further propelling market expansion. The market is also benefiting from the steady demand for timber products and the rising mechanization rates in both developed and developing countries, which are adopting more intensive logging techniques. Countries with significant forest cover, like Russia, are key players in this market, leveraging their natural resources to support the forestry machinery industry.
Europe stands out as the largest and fastest-growing market for forestry machinery, supported by the European Union's policies and financial incentives aimed at promoting forestry activities. The region's diverse forests provide economic and biodiversity benefits, driving the demand for mechanized harvesting technologies. The shift towards mechanical harvesting is also seen as a response to the increasing global food demand, which has led to the conversion of forest lands into arable lands, thereby necessitating the adoption of mechanized practices. The market is characterized by fragmentation, with major companies like Deere & Company, Komatsu, and Caterpillar competing not only on product quality but also through strategic initiatives to expand their market share. Recent innovations, such as Komatsu's new forestry processor and John Deere's Intelligent Boom Control, highlight the industry's focus on enhancing productivity and efficiency in forestry operations.
Forestry Machinery Market Size - Table of Contents
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1. MARKET DYNAMICS
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1.1 Market Overview
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1.2 Market Drivers
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1.3 Market Restraints
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1.4 Porter's Five Forces Analysis
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1.4.1 Bargaining Power of Suppliers
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1.4.2 Bargaining Power of Buyers/Consumers
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1.4.3 Threat of Substitute Products
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1.4.4 Threat of New Entrants
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1.4.5 Intensity of Competitive Rivalry
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2. MARKET SEGMENTATION
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2.1 Machine Type
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2.1.1 Skidders
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2.1.2 Forwarders
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2.1.3 Bunchers
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2.1.4 Swing Machines
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2.1.5 Harvesters
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2.1.6 Loaders
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2.1.7 Other Forestry Machinery
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2.2 Geography
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2.2.1 North America
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2.2.1.1 US
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2.2.1.2 Canada
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2.2.1.3 Mexico
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2.2.1.4 Rest of North America
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2.2.2 Europe
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2.2.2.1 Germany
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2.2.2.2 UK
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2.2.2.3 France
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2.2.2.4 Russia
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2.2.2.5 Spain
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2.2.2.6 Rest of Europe
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2.2.3 Asia Pacific
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2.2.3.1 China
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2.2.3.2 Japan
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2.2.3.3 India
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2.2.3.4 South Korea
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2.2.3.5 Rest of Asia-Pacific
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2.2.4 South America
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2.2.4.1 Brazil
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2.2.4.2 Argentina
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2.2.4.3 Rest of South America
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2.2.5 Middle East and Africa
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2.2.5.1 South Africa
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2.2.5.2 Rest of Middle East and Africa
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Forestry Machinery Market Size FAQs
How big is the Forestry Machinery Market?
The Forestry Machinery Market size is expected to reach USD 11.12 billion in 2024 and grow at a CAGR of 4% to reach USD 13.52 billion by 2029.
What is the current Forestry Machinery Market size?
In 2024, the Forestry Machinery Market size is expected to reach USD 11.12 billion.
