What is the expected growth of the forestry equipment market?
The global forestry equipment market is projected to reach a staggering $13.1 billion by 2030, growing at a CAGR of 4.2% from 2023-2030.
Which region is expected to be the fastest-growing in the forestry equipment market?
The Asia-Pacific region is expected to be the fastest-growing market, driven by factors like urbanization, economic development, and increasing forest cover.
Who are the major players in the forestry equipment market?
Leading players include AB Volvo, Caterpillar Inc., Deere & Company, Doosan Infracore Co. Ltd., Eco Log Sweden AB, Grema, Hitachi Construction Machinery Co., Husqvarna AB, Kesla OYJ, and Komatsu Forest.
What are the challenges faced by the forestry equipment market?
High initial investment costs, limited access to financing for small and medium-sized companies, and disruptions in global supply chains pose challenges to market growth.