Forestry and Logging Market Size, Share, Growth, and Industry Analysis, By Type (Logging, and Timber Services), By Application (Construction, Industrial, and Others) Regional Forecast (2022-2028)

REPORT OVERVIEW

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The global forestry and logging market size was expected to be USD 1,76,960 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is projected to touch USD 2,42,230 million by 2028, exhibiting a CAGR of 4.1% during the forecast period. The sudden spike in CAGR is attributable to demand returning to pre-pandemic levels once the pandemic is over.

The forestry and logging market mainly comprises of deals of forestry goods and records by numerous objects such as administrations, sole dealers and businesses which yield or produce forestry products and records over the rising, procedures of the wood territory, cutting and transferring of wood, budding trees for replanting and gathering forest goods such as barks, gums and fibers. Growth of the forestry and logging market in the forecast period due to the progress in residential building action, growing demand for cruise boats, tissue and paper goods and financial development in developing markets. This development was limited by wood fires and geopolitical pressures.

"COVID-19 Impact: Scarcity of Labor to Hamper Market Growth"

The growing production of wood constructions, implementation of automatic forestry organization, growing usage of biomass and increasing demand for wooden furniture are anticipated to drive the market. Moreover, severe guidelines, alternative building resources, labor scarcity and effect of COVID-19 are foremost aspects that could hamper the forestry and logging market growth in the coming years. This development was limited by forest fires, government pressures, labor scarcity and influence of COVID-19 area unit main issues that might hamper the growth of the biological science and work industry during the forecast period.

LATEST TRENDS

"Technological Advancements to Fuel Up the Market Growth"

Innovative technologies in forest logging procedures have enhanced security, fiber consumption, eco-friendly guard, and production with least harm to remaining plants. The diverse enhanced techniques of logging are cutter/forwarder methods, cable harvesting schemes, and helicopter logging. Harvester logging is most public in northern and central Europe and the usage is projected to increase in the coming years owing to the financial, ergonomic, and environmental benefits over other types of harvesting. Cable harvesting is used in rocky regions while helicopter logging is standard in ecological restraints and remote zones.

According to a recent study, enhanced logging processes result in a 30% upsurge in wood capacity, and destruction to remaining trees can be reduced to 20%. For example, Markit Forestry Management has engaged helicopter logging for some shares of the Dry Lake Hills area as transportation of woods, timbers and chopped trees was problematic owing to the vertical grade of the property.

SEGMENTATION

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• By Type

Based on type; the market is divided into Logging, and Timber Services.

• By Application

Based on the application; the market is divided into Construction, Industrial, and Others.

DRIVING FACTORS

"Increasing Adoption of Timber Construction to Increase the Market Demand"

Timber used as a construction material is growing owing to various benefits of wood constructions over concrete structures, therefore motivating the market for forestry and logging producers. Currently, the construction sector is producing 25% of the greenhouse gas releases worldwide and so the idea of green building construction has changed which is anticipated to decrease CO2 emissions and stock carbon. Moreover, creating structures with timber will harvest very little surplus and can be created rapidly when associated with a concrete structure.

According to Karl-Henrik Sundström, CEO of Stora Enso indicated, wood is suitable for the construction material in the coming years, and to meet the growing demand from production activities, the business constructed its third manufacturing unit of industrial CLT in Sweden in 2019. Nations such as the US, Japan, and China are also observing an upsurge in wood production owing to its financial and ecological aids.

"Technological Advancement to Foster Market Growth "

Forestry and logging processes have experienced enormous alteration in the last few times owing to the increasing demand for regulator connected products and lack of staff to meet the demands. The forestry procedure is flatteringly more automatic with the use of computerization technologies and tools such as forwarders, loggers, among others, that upsurge the task's efficiency. With such significance of forestry amongst the countries across the globe, the forestry engines sales are estimated to mature, which is majorly determined by a regaining in global timber charges, increasing round wood construction, and the replacement of mature, less useful forestry device by logging firms along with the rising attention on forest protection and administration that has shaped a huge demand for forestry tools.

RESTRAINING FACTORS

"Government Regulation to Hold Back the Market Growth"

Severe guidelines have continuously remained a main trial to the forestry and logging market. Numerous countries across the world have forced total or partial logging prohibitions in natural woods as a reply to natural tragedies which are supposed to have been produced by deforestation.

REGIONAL INSIGHTS

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"Infrastructural Development to Foster Market in Asia Pacific"

The forestry and logging market share is expected to be dominated by the Asia Pacific region during the forecast period. This is owing to the great consumer base in emerging countries, and increasing demand from residential buildings.

North America is anticipated to have a sizable market share and will record the maximum CAGR in the coming years owing to enhanced procedures of logging, cable harvesting systems and helicopter logging.

KEY INDUSTRY PLAYERS

Prominent Industry Players in the Industry to Promote Market Expansion

The market's expansion was significantly impacted by the techniques employed by market participants in recent years, such as extensions. The report covers details and information about the firms and their interactions with the market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other considerations taken into account for this market are the businesses that develop and provide new products, the geographic areas in which they function, mechanization, innovation strategies, generating the maximum revenue, and using their products to make a significant difference.

List of Market Players Profiled

• Hancock Victorian Plantations (U.S.)
• Weyerhaeuser (U.S.)
• Scottish Woodlands (U.K.)
• Tilhill Forestry (U.K.)
• F&W (U.S.)

REPORT COVERAGE

The report covers a comprehensive backdrop analysis, an assessment of the parent market, intensive study in the market dynamics. Past historical, current, and projected size of the market from the point of both value and volume. Researching of recent industry developments, deep study on market shares and strategies of major players and the emerging niche segments and regional market areas are covered in the report.