Selbyville, Delaware, March 03, 2020 (GLOBE NEWSWIRE) --

Global Market Insights, Inc. has recently added a new report on forestry equipment market which estimates the global market valuation for forestry equipment will cross US$ 17 billion by 2026. The rising demand for timber harvesting in residential applications will propel the market demand.

The growing demand for wood-based panels, such as plywood, particleboard, Oriented Strand Board (OSB), and fiberboard, will propel the adoption of forest equipment in raw material harvesting. Forestry equipment is primarily used for cutting trees, making wood chips, delimbing, and dragging woods to specific locations. The increasing investments in R&D for the development of innovative products will create new opportunities in the forestry equipment sector.

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Increasing vegetation management, conservation, and restoration of national forests will witness a high demand for forestry machines during the forecast timeline. Furthermore, reforestation initiatives under government authorities to protect watersheds affected by natural calamities will create a huge demand for forestry equipment. The U.S. Government authorities are supporting regeneration treatments or harvesting of timbers to stabilize the ecosystem, in turn, fueling the forestry equipment industry during the forecast timeline.

The increasing demand for wood chips in erosion control, construction, and fuel & composting materials is propelling the growth of chippers. The emergence of organic farming will create demand for processed wood chips. Wood chips along with other organic matters such as dead leaves and grass cutting are used as fertilizers. Market players are launching cost-effective self-propelled chippers for efficient functioning. For instance, in August 2019, Alle Rechte vorbehalten launched self-propelled chippers equipped with a 612hp - 768 hp engine variant.

The North America forestry equipment market is estimated to grow over the forecast timeline owing to the increasing demand for saw logs and roundwood across the region. Major players are launching new products equipped with advanced safety features and engines with better efficiency and high productivity. For instance, in March 2017, Hitachi announced the launch of forestry equipment in North America equipped with Stage IV Isuzu engine to increase productivity while lowering maintenance costs.

Browse key industry insights spread across 270 pages with 503 market data tables and 26 figures & charts from the report, “Forestry Equipment Market Share & Forecast, 2020 – 2026” in detail along with the table of contents:

https://www.gminsights.com/industry-analysis/forestry-equipment-market

Some major findings of the forestry equipment market report include:

  • Forestry equipment is primarily used due to their accuracy in heavy-duty operations such as lodging, vegetation clearance, forest management, wildlife, and sanctuary conservation.

  • Increasing urbanization coupled with rising disposable income across regions is supporting the demand for wood-based products in real estate and construction applications.

  • This equipment is used in wood processing and to manufacture furniture, wood-based panels, wood pellets, and pulp processing.

  • To sustain in the competitive market, the market players are focusing on innovation and technological advancement strategies. They offer products powered by predictive analysis and AI implemented technologies to gain more customers.

  • Key players operating in the forestry equipment market are Deere & Company, Caterpillar, Komatsu Ltd., AB Volvo, Barko Hydraulics LLC, Doosan Infracore Co. Ltd., JCB, Hyundai Heavy Industries Co. Ltd., Liebherr Group, and Bell Equipment, amongst others.

The forestry equipment rental service is growing at a rapid pace in the North American region due to the increasing consumption of wood-based products for infrastructure development. Companies such as Caterpillar & Deere, are offering forestry equipment rental services to cater to untapped segments. The companies are also increasing public relations and expanding their sales network to enhance their global footprint.

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Partial chapters of report table of contents (TOC):

Chapter 3.   Forestry Equipment Industry Insights

3.1.  Industry segmentation

3.2.  Industry landscape, 2016 – 2026

3.3.  Industry ecosystem analysis

3.3.1. Component suppliers

3.3.2. Manufacturers

3.3.3. Distribution channel analysis

3.3.4. End-use landscape

3.3.5. Vendor matrix

3.4.  Technology & innovation landscape

3.5.  Regulatory landscape

3.5.1.1.    North America

3.5.1.2.    Europe

3.5.1.3.    Asia Pacific

3.5.1.4.    Latin America

3.5.1.5.    MEA

3.6.  Industry impact forces

3.6.1. Growth drivers

3.6.1.1.    Deployment of innovative forestry equipment in the U.S. and Europe

3.6.1.2.    Increasing use of wood pellets for industrial and household application globally

3.6.1.3.    Innovation of technically advanced forwarders & harvesters across the globe

3.6.1.4.    Rising government initiatives for vegetation and forest management in Asia Pacific

3.6.1.5.    Proliferation of rental forestry equipment in Latin America and MEA

3.6.1.6.    Growing awareness related to forestry mechanization globally

3.6.2. Industry pitfalls & challenges

3.6.2.1.    Concerns pertaining to high initial & maintenance cost

3.6.2.2.    Limited consumer awareness in developing countries

3.7.  Growth potential analysis

3.8.  Porter's analysis

3.8.1. Supplier power

3.8.2. Buyer power

3.8.3. Threat of new entrants

3.8.4. Threat of substitutes

3.8.5. Internal rivalry

3.9.  Competitive landscape

3.9.1. Company market share analysis, 2019

3.9.2. Strategy dashboard (New product development, M&A, R&D, Investment landscape)

3.10.    PESTEL analysis

About Global Market Insights

Global Market Insights, Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider. Offering syndicated and custom research reports, growth consulting and business intelligence services, Global Market Insights, Inc. aims to help clients with penetrative insights and actionable market data that aid in strategic decision making.

GMIPulse, our business analytics platform, offers an online, interactive option of exploring our proprietary industry research data in an easy-to-use and dynamic manner. Clients get to explore market intelligence across 11 top-level categories and hundreds of industry segments within them, covering regional, company level and cross-sectional statistics that make our offering a stand-out for decision-makers.

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