Forest machinery includes all the equipment which assists in the process of forest activities such as collecting wood logs, harvesting, land cultivation, loading, and more. These machines are used to fulfill the demand for forest products such as herbs, woods, minerals, and others. The main objectives of these machines are to segregate, collect, chop, store logs, and other forest products safely and smoothly. The machines that are commonly used for forestry are skidders, harvesters, loaders, swing machines, forwarders, and others. Different types of machines are used for different applications based on the requirement.
COVID-19 Scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the forestry machinery industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of forestry machinery market significantly from last few months, as is likely to continue during 2020.
- COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year.
- The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
- Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players would have to modify their investment plans.
- Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.
Drivers, restraints, and opportunities
Increasing demand for wood and wood products due to the rapidly increasing population is a major factor that is expected to drive the growth of the forestry machinery market in the upcoming years. Besides, a surge in demand for food across the globe has resulted in increasing cultivation activities worldwide which is another key factor that can potentially fuel the growth of the forestry machinery market for the next few years. Moreover, escalating demand for higher productivity from harvesting has resulted in the increasing adoption of harvesters and forwarders. This factor can boost the demand for forestry machinery in the next few years. However, high initial and maintenance costs associated with these machines are the restraining factors that are hindering the market growth. On the contrary, new product developments by leading players such as equipment suitable for higher production applications, extreme terrain conditions, and demanding operations are anticipated to provide lucrative growth opportunities for the forestry machinery market during the forecast period.
Trends in the forestry machinery market
Emerging new technologies to fuel the market growth
Growing awareness about the advantages of technology in forestry practices is a key factor that can fuel the growth of the forestry machinery market. The adoption of advanced technologies like Global Positioning System (GPS) tracking in forestry machinery is anticipated to revolutionize the forestry industry. The integration of this technology with forestry machinery facilitates reliable navigation and accurate mapping during timber harvesting. The integration of such advanced technologies for forestry activities is anticipated to boost the growth of the forestry machinery market in the upcoming years.
New product developments by leading players
The growing demand for reliable, efficient, and less time-consuming equipment especially for forestry activities has forced the manufacturers to come up with new efficient and optimized products. For instance, John Deere, an American manufacturing company has introduced new models for cutters used in the forestry machinery. The new models named RX72 and RX84 are designed for dense vegetation management, including proper cleaning and property maintenance. These new models provide solutions to municipal contractors, agricultural producers, and landscapers for vegetation management and land clearing. The new attachments have provided solutions for clearing medium-to-heavy hardwoods and brush up to 25cm in diameter. These products offer enhanced performance, ease of operation, and efficiency. Such new product developments by key market players are expected to fuel the growth of the forestry machines market in the upcoming years.
Key benefits of the report:
- This study represents the analytical representation of the global forestry machinery market combined with the ongoing trends and future predictions to determine investment opportunities.
- The present market is thoroughly analyzed to enlighten the forestry machinery market growth.
- The report gives information regarding the important drivers, restraints, and opportunities provided with an in-depth analysis of the global forestry machinery market.
- Segmentation details of the global forestry machinery market.
- The report gives a comprehensive global forestry machinery market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years.
Forestry Machinery Market Report Highlights
| Aspects | Details |
 By Type |
|
 By Region |
|
 Key Market Players | Doosan Infracore Co. Ltd, Deere & Company, Caterpillar Inc., Claas KGaA, CNH Industrial N.V., Komatsu Ltd., Hyundai Heavy Industries Co. Ltd, Bell Equipment, Barko Hydraulics LLC, AB Volvo |
Loading Table Of Content...
