CLEVELAND, Feb. 3, 2020 /PRNewswire/ — According to the Freedonia Group study Global Forestry Equipment, demand for felling equipment is projected to rise 2.9% annually through 2023 to $3.3 billion, supported by two main trends:
- greater mechanization of felling operations in developing countries
- the replacement of older equipment in developed areas
More information regarding the study is here: https://www.freedoniagroup.com/industry-study/global-forestry-equipment-3779.htm
Manufacturers are introducing improved machinery and components to increase durability, performance, efficiency, and operator safety and comfort. In a competitive market with many participants with sizable research and development operations, this is necessary to remain competitive.
Global demand for chainsaws is forecast to expand 3.4% annually through 2023 to $1.4 billion. A number of factors will boost demand for chainsaws:
- significantly lower cost of chainsaws compared to other types of felling equipment
- ability to use chainsaws in terrain that is not amenable to the use of larger equipment
- relatively short lifespan of chainsaws compared to other types of felling equipment, heightening replacement demand
- widespread use of chainsaws in comparison to more advanced equipment, which is only found in mechanized markets
Contact Corinne Gangloff for an interview with the analyst.
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SOURCE The Freedonia Group