Pune, July 10, 2019 (GLOBE NEWSWIRE) -- The global Forestry Equipment Market is likely to expand at a steady pace in the coming years due to the growth in production of industrial round wood. According to a report published by Fortune Business Insights, titled “FORESTRY EQUIPMENT MARKET: GLOBAL MARKET ANALYSIS, INSIGHTS AND FORECAST, 2019-2026,” the market was valued at US$ 9,559.4 Mn in 2018. Fortune Business Insights has predicted that the market will reach US$ 13,109.9 Mn by the end of 2026, thereby exhibiting a CAGR of 4.09%.
The growing focus on forest management has created a huge demand for forestry equipment. There has been a growing awareness of forest preservation and management. The increasing focus on forest management has led to the demand for forestry equipment. The demand for forestry equipment has led to innovations in related products. The forestry industry is taking several efforts to enable high quality of the yield, along with an increase in quantity. These efforts have contributed to an increase in demand for forestry equipment. Fortune Business Insights has predicted that the aforementioned factors will aid the growth of the global Forestry Equipment Market in the coming years.
Browse Complete Report Details with Table of Content and Figures:
Product Launches to Boost the Market
The advent of newer equipment and integration of innovative concepts has contributed to the growth of the global Forestry Equipment Market. Technologically sound equipment will create a huge demand from end users around the world. Prevailing companies have been actively participating in their own ways, some of which are catapulting newer products, while others are involved in deals and agreements with market counterparts. Altogether these factors will bode well for the overall market and increasing product launches will favor the growth of the global Forestry Equipment Market in the forthcoming years.
Caterpillar Announces New Forestry Equipment with Innovative Technology
The global Forestry Equipment Market is blessed with product innovations by renowned companies. Increasing merger and acquisitions, in addition to frequent product launches, are adding to the demand for forestry equipment, globally. Recently, Caterpillar announced the launch of two forest machines to its product portfolio. Caterpillar’s latest equipment are designed to perform forestry tasks ranging from road building and site activities such as log processing. Caterpillar's CAT 548 and 548 LL are designed with high horsepower and increased lift capacity. The improvements in equipment have created a huge demand for Caterpillar's newest product. Fortune Business Insights predicts that such product launches will favor the growth of the global Forestry Equipment Market in the coming years.
Fortune Business Insights has profiled some of the leading companies that have had contributed to the growth of the global Forestry Equipment Market. The report stresses on several factors that have influenced market activities. The report includes factors that have accounted for growth of the overall market along with some factors that have restrained the market growth. Fortune Business Insights has included the segmentation of the global Forestry Equipment Market based on product types and regional demographics.
Along with this, the report provides an elaborative analysis of the market dynamics and competitive landscape. Various key insights provided in the report are the price trend analysis, recent industry developments such as mergers & acquisitions, the regulatory scenario in key countries, SWOT analysis, and key industry trends.
Key companies covered in the report
Table of Content:
Request for Customization: https://www.fortunebusinessinsights.com/enquiry/customization/forestry-equipment-market-100560
Browse Related Reports:
Fortune Business Insights offers expert corporate analysis and accurate data, helping organizations of all sizes make timely decisions. We tailor innovative solutions for our clients, assisting them address challenges distinct to their businesses. Our goal is to empower our clients with holistic market intelligence, giving a granular overview of the market they are operating in.
Our reports contain a unique mix of tangible insights and qualitative analysis to help companies achieve sustainable growth. Our team of experienced analysts and consultants use industry-leading research tools and techniques to compile comprehensive market studies, interspersed with relevant data.
At Fortune Business Insights we aim at highlighting the most lucrative growth opportunities for our clients. We therefore offer recommendations, making it easier for them to navigate through technological and market-related changes. Our consulting services are designed to help organizations identify hidden opportunities and understand prevailing competitive challenges.
Fortune Business Insights Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune - 411045, Maharashtra, India.