Market Size of Forestry Machinery Industry
| Study Period | 2019 - 2029 |
| Market Size (2024) | USD 11.12 Billion |
| Market Size (2029) | USD 13.52 Billion |
| CAGR (2024 - 2029) | 4.00 % |
| Fastest Growing Market | Asia-Pacific |
| Largest Market | Europe |
Major Players
*Disclaimer: Major Players sorted in no particular order |
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Forestry Machinery Market Analysis
The Forestry Machinery Market size is estimated at USD 11.12 billion in 2024, and is expected to reach USD 13.52 billion by 2029, growing at a CAGR of 4% during the forecast period (2024-2029).
- The growing awareness of forest preservation and management, combined with the increased use of machinery, has increased demand for forestry equipment.Rapid growth in demand for wood and wood-based products has led to the need for mechanized tree felling, creating opportunities for forestry equipment.
- The incorporation of GPS control systems into forestry equipment is one of the fundamental drivers for enhancing production by providing real-time tracking and sustainable operations, consequently significantly increasing its demand in North America and Europe. Additionally, increased demand for wood pellets as a fuel for power plants in developed economies such as Europe and North America is expected to drive market expansion.
Forest resources help to support a strong market for forestry machinery in different parts of the world. According to the United States Forest Service, in 2021, the United States will have generated around 11.97 billion cubic feet of industrial roundwood. Lumber, pulp products, plywood, and veneer are the most common products containing industrial roundwood. Timber product prices have stayed steady or increased during the last decade worldwide. Wood pulp and paperboard demand are also increasing, which has had a positive impact on demand for forestry machinery, thereby increasing demand during the forecast period.
