How big is the forestry equipment market?

The global forestry equipment market size was estimated at USD 9.27 billion in 2019 and is expected to reach USD 9.54 billion in 2020.

What is the forestry equipment market growth?

The forestry equipment market is expected to grow at a compound annual growth rate of 4.0% from 2020 to 2027 to reach USD 13.10 billion by 2027.

Which segment accounted for the largest forestry equipment market share?

North America dominated the forestry equipment market with a share of 37.1% in 2019, owing to increasing aftermarket sales coupled with changing cut-to-length logging methods in the region.

Who are the key players in the forestry equipment market?

Some of the key players operating in the forestry equipment market include Hitachi Construction Machinery Co., Ltd., Deere Construction & Forestry, Epiroc AB, Komatsu Ltd., Sandvik AB, LiebherrInternational AG, and Volvo Construction Equipment.

What are the factors driving the forestry equipment market?

The key factors that are driving the forestry equipment market include a rising focus on forest management activities, growing investments across the forestry sector, increasing demand for wood & wood products, and alteration to mechanized processes for felling trees.