Deere & Company, Komatsu Ltd., Hitachi Construction Machinery Co., Ltd., Barko Hydraulics, LLC, Caterpillar Inc., and Rottne Industry AB, among others, are the major players in the global forestry equipment market.
The global forestry equipment market is expected to grow at a CAGR of 4% in the forecast period of 2022-2027. As per the analysis by Expert Market Research, the shift towards automated processes and the flourishing construction sector are driving the market growth.
The forestry equipment market is being fuelled by the growing utilisation of wood in several end-use sectors, including furniture, paper, and construction, among others. With the rapid shift from manual to automated tasks for increasing time and cost effectiveness, the demand for forestry equipment to simplify logging activities is rapidly growing.
Major players in the market are developing forestry machines equipped with telematics and GPS systems for real-time tracking and monitoring of machinery while enhancing their efficiency, hence aiding the market. Furthermore, the demand for wooden slabs and pillars is expected to increase owing to the expansion of the construction sector, which is likely to augment the demand for forestry equipment. The increasing focus of manufacturers on developing forestry equipment with high fuel efficiency and minimal impact on the environment is also anticipated to boost the market growth in the forecast period.
The increasing launches of innovative forestry equipment offering improved uptime, safer performances, and surged outreach are likely to support the market. Such equipment also provides an enhanced field of vision and reliable performance in extreme environmental conditions. Furthermore, the rising investments in innovations and technological advancements by the leading companies to boost the efficiency and performance of forestry equipment are anticipated to positively influence the market development in the coming years.
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|Headquarters:||Illinois, United States|
Deere & Company is a manufacturer of connected and intelligent applications and machines to revolutionise the construction and agricultural sectors. The company’s portfolio includes over 25 brands that provide innovative solutions for several end-use sectors. In 2021, the company generated net sales and revenues of USD 44.02 billion. With 75,600 employees in over 100 locations across the globe, 48% of its consolidated revenues and sales occurred outside the United States.
Komatsu Ltd. or Komatsu is a manufacturer of equipment and machinery used in utility, construction, forestry, and industrial applications. The company has 76 manufacturing facilities around the world and had a workforce of around 62,774 as of 2021. In August 2020, it launched new high-performance plasma cutting machines TWISTER TFPL10-6 and TFPL08-6. Its net sales reached JPY 69,393 million in 2021.
Hitachi Construction Machinery (HCM) is a subsidiary of the Hitachi Group that is engaged in the manufacturing, sales and service of construction machinery, transportation machinery, and other machines and devices. It was involved in the production of Japan’s first mechanical excavator. The company has a consolidated workforce of around 25,000 employees, with 80 subsidiaries and 22 affiliate companies. In 2021, the company generated consolidated revenue of JPY 1025 billion.
|Headquarters:||Wisconsin, United States|
Barko Hydraulics manufactures heavy equipment for the forestry, site prep, and material handling industries. Its mission is to deliver durable and reliable purpose-built equipment that provides customers with the tools they need to become more successful, comfortable, and safe. Some of its premium brands include merchandising knuckleboom loaders, advanced line-up of harvesters and feller bunchers, industrial wheeled tractors, rough terrain carrier loader, and stationary electric loaders, among others.
|Headquarters:||Texas, United States|
Caterpillar Inc. is one of the biggest companies engaged in the manufacturing of mining and construction equipment, natural gas engines and off-highway diesel, diesel-electric locomotives, and industrial gas turbines. With a team of 107,700 employees serving 193 countries Across the globe, the company boasts of around 27,000 suppliers. In 2021, its sales and revenue reached USD 51 billion.
Rotten Industri AB is one of the leading manufacturers of modern forest machines in the world. It is the world's fourth largest manufacturer and supplier of powerful, wheeled forest machines adapted for the short timber method. The company employs around 230 people at factories in Rottne, Lenhovda and Stensele. Almost 50% of its production is exported to Europe, Russia, and North America.
*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.