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Driving sustainable growth: Innovations in forestry machinery boost efficiency and support global environmental efforts.
ROCKVILLE, MD, UNITED STATES, January 16, 2025 /EINPresswire / -- The global forestry machinery
market is valued at USD 10.1 billion in 2023 and is expected to reach USD 15.9 billion by the end of 2033. According to a study by Fact, a market research and competitive intelligence provider, the majority of forestry machinery is anticipated to be powered by electricity in the coming years.
Europe, with the largest forested area globally, is projected to lead in demand for forestry machinery over the next decade. The growing adoption of sustainable forestry practices and the increasing availability of automated forestry machinery are expected to drive new opportunities for machinery suppliers in the region. Key markets in Europe, including Germany, France, Italy, and Spain, are expected to see significant growth.
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Forestry machinery manufacturers are actively working on expanding their product offerings to boost sales and revenue.
In 2020, John Deere expanded its L-Series Wheel Loader lineup by introducing four new utility models: the 444L, 644L, 644L Hybrid, and 724L. These new loaders feature a redesigned Z-Bar loader linkage, an updated, ergonomically designed cab, electrohydraulic (EH) controls, and a more robust heating, ventilation, and air conditioning (HVAC) system.
Key Takeaways from Market Study
The global forestry machinery market is currently valued at US$ 10.1 billion.
The demand for forestry machinery is expected to grow at a CAGR of 4.6% from 2023 to 2033, with the market projected to reach US$ 15.9 billion by the end of 2033.
Key factors driving market growth include increasing demand for forest products, a rising global population, growing use of wood across various industries, and technological advancements in forestry machinery.
However, the high maintenance costs associated with forestry machinery are anticipated to pose a challenge to market growth in the future.
Europe is expected to hold a significant share of the global forestry machinery market throughout the forecast period.
Sales of forwarders are projected to represent more than 25% of global forestry machinery sales revenue by the end of 2033.
“Though Europe is the leading regional market, forestry machinery suppliers should also focus on maximizing their sales in the East Asia and South Asia & Oceania regions, which will be fast-growing markets over the decade,” says a Fact analyst
Competitive Landscape
Forestry machinery manufacturers are strategically launching new products to enhance sales and strengthen their market position.
In September 2022, Komatsu, a Japanese heavy equipment manufacturer specializing in forestry machinery, introduced its latest swing machine for timber processing applications. The PCF230F-11, powered by a 197-horsepower engine, is designed to handle demanding tasks such as timber cutting, delimbing, and stacking.
In February 2021, Finnish forest machinery manufacturer Ponsse Oyj launched a new range of harvesters tailored to meet modern industry needs. The Scorpion harvester range features an innovative user interface and active control features, boosting operational efficiency.
In February 2022, Rottne Industri AB, a Swedish forest machinery supplier, unveiled two durable forestry cranes, the RK310 and RK75, known for their extended service life and improved durability compared to previous models.
Additionally, forestry machinery companies are introducing advanced accessories and technologies to further improve the efficiency and productivity of forestry equipment.
In May 2022, Tigercat, a leading provider of material processing and forest harvesting systems, integrated a swing boom system into its Tigercat 635H skidder, enhancing its productivity and performance.
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Winning Strategy
Forestry machinery manufacturers should prioritize the development of innovative machines that offer greater efficiency and productivity compared to traditional models and competitors. Additionally, companies should integrate sustainability into their products and operations to remain competitive and relevant in the evolving market.
More Valuable Insights on Offer
Fact, in its new offering, presents an unbiased analysis of the global forestry machinery market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on machine type (loaders, harvesters, branchers, swing machines, skidders, forwarders, others) and operation (diesel, electric, hybrid, others), across six major regions of the world (North America, Europe, Latin America, East Asia, South Asia & Oceania, and Middle East & Africa).
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About Us:
Fact is a distinguished market research company renowned for its comprehensive market reports and invaluable business insights. As a prominent player in business intelligence, we deliver deep analysis, uncovering market trends, growth paths, and competitive landscapes. Renowned for its commitment to accuracy and reliability, we empower businesses with crucial data and strategic recommendations, facilitating informed decision-making and enhancing market positioning.
With its unwavering dedication to providing reliable market intelligence, FACT continues to assist companies in navigating dynamic market challenges with confidence and achieving long-term success. With a global presence and a team of experienced analysts, FACT ensures its clients receive actionable insights to capitalize on emerging opportunities and stay competitive.
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