The global timber harvesting equipment market is expected to expand at a value CAGR of 5.5% over the forecast period (2017–2025). It is expected that the market will reach a value of US$ 26,785.9 Mn by 2025 end.
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According to the new report published by Persistence Market Research titled “Timber Harvesting Equipment Market: Global Industry Analysis (2012-2016) and Forecast (2017–2025),”
In terms of volume, the market is expected to increase at a CAGR of 4.3% over the forecast period and account for the sales of 4,888,581 units by 2025 end.
The rise in demand for wood as fuel as well as construction material is the main driver influencing the growth of the timber harvesting equipment market.
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It has been observed that the sales of timber harvesting equipment is highly correlated with the demand for wood and products derived from wood. In the current scenario, forest products such as fuel wood, round wood, saw wood among others trigger the demand for timber harvesting equipment.
Conversion of forest areas to agricultural lands- Rapid conversion calls for mechanized operation to process felling thereby improving the demand for timber harvesting equipment
Rise in urbanization from rural to metro areas- The growth in population and demand for more residential areas will also support the demand for timber harvesting equipment over the forecast period.
Increasing requirement for mechanization and automation- There is a growing demand for equipment such as harvesters that in a single movement can cut the tree from the base, debark it and cut into required lengths in less than a minute.
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Growth in the expatriate population and tourism- Modern timber harvesting equipment are efficient and decrease the amount of wastage produced, which is expected to be a major factor driving the growth of the timber harvesting equipment market over the forecast period.
On the basis of product type, the global timber harvesting equipment market is segmented into chainsaws, harvesters, feller bunchers, forwarders and skidders. Harvesters and feller bunchers are sub-segmented into wheeled type and tracked type.
The most preferred timber harvesting equipment in the market today is the chainsaw segment representing a myriad of advantages in relation to costs, availability, low maintenance and versatility. Mechanized timber harvesting equipment such as harvesters and feller bunchers among others are preferred in the northern countries of Europe in order to increase productivity though they pose high initial investments.
This segment includes full tree, cut-to-length and tree length segments. Full tree harvesting is forecasted to dominate the global market in 2017.
Companies are striving to develop better technological products owing to rising consumer demands. The segment is estimated to be valued at US$ 11,264.2 Mn by the end of 2017 and is likely to reach US$ 17,957.0 Mn by the end of 2025, expanding at a CAGR of 6.0% throughout the projected period.
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The global market is segmented into the key geographies of North America, Latin America, Europe, APAC, and MEA. As a market driven by the demand for wood including round wood, pulpwood among others, Asia Pacific, North America and Europe will draw in a large market share in the current and upcoming years.
The potential of the market in the Middle East and Africa region will be relatively slow owing to the lack of harvestable areas in the region.
Deere & Company, Komatsu Ltd., Ponsse Oyj,Caterpillar Inc., Tigercat International Inc., ogset Oy,Eco Log Sweden AB,Rottne Industri AB, Husqvarna AB, Andreas Stihl AG & Company KG, Stanley Black & Decker, Inc., Hitachi Ltd., Kesla Oyj, Barko Hydraulics L.L.C., Bell Equipment Ltd., Volvo AB, Sampo-Rosenlew Oy and Echo Inc. are some of the key leaders operating in the global timber harvesting equipment market.
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