The forestry equipment market is expected to see significant growth by 2027 owing to the improving product landscape and increasing focus on forest preservation across the globe. Additionally, government stimulus for ecological projects is also expected to boost market growth over the following years.

Forestry equipment refers to any piece of machinery used in the excavation, harvesting, and finishing of a wooded area. In these three stages, different types of forestry equipment tools are employed.

Excavating machines include saws that are used to cut down trees, while harvesting machines encompass bunchers, loaders, and harvesters. Finishing machines are equipment that help clear the forest either to replant trees or begin construction.

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During the COVID-19 pandemic, governments across the globe imposed stringent lockdowns, which meant that activities in virtually all industries were halted in order to prevent the spread of the virus. However, recently, successful vaccination initiatives in key markets have made governments amplify efforts towards economic recovery.

Thus, to support economic recovery, governments are investing heavily to support infrastructural projects. For instance, in June 2021, Massachusetts committed over $2.5 billion in investment towards infrastructure, health and human services, including housing, climate resiliency, transportation, and education.

The investment is intended to promote economic growth and fortify existing initiatives around these sectors and food security-critical priorities that have gained significance after the COVID-19 crisis. As a result, escalating focus on construction activities has further fueled market demand across the globe.

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Due to widespread awareness of the climate crisis, companies have been employing advanced technologies to make their products more sustainable. This has positively influenced industry outlook in key regions.

For instance, in June 2021, manufacturing company Komatsu and Honda began the joint development of electrified micro excavators that have replaceable batteries. Apart from these excavators, the companies are also developing a battery swapping system for the construction sector.

Moreover, industry players are adopting strategic initiatives, such as product launches and collaborations, to capitalize on the growth potential in emerging markets. For instance, in June 2021, agricultural equipment specialist John Deere launched its range of construction as well as forestry equipment in sub-Saharan Africa.

For detailed assessment, the forestry equipment market has been segmented on the basis of type and region. In terms of type, the market has further been divided into felling equipment, on-site processing equipment, extracting equipment, and others.

The on-site processing equipment type segment is projected to observe sizable growth at a notable CAGR through the forecast timeframe. High demand for wood chips and pellets is anticipated to support market demand for on-site processing equipment, including chippers & delimbers, through 2027.

In the regional landscape, the Latin America forestry equipment market is estimated to see steady growth at a CAGR of over 2.5% through the study timeline to garner a sizable revenue by the end of 2027. Increasing investments in infrastructure development projects across Latin America are expected to fuel regional market expansion over 2021-2027.