1. Market Excerpt
2. Increasing mechanization of forestry operations and technological advancement will drive the market for forestry cranes globally.
The global forestry cranes market was estimated US$ 972.8 Mn in 2020 and is expected to grow at a CAGR of 4.8% throughout the forecast period from 2021 to 2029. The demand for forestry cranes is primarily dependent on growth in demand for forestry products such as wood pellets and timbers used in industrial and construction applications. Continuous developments in crane technology to improve the efficiency of forestry operations is also expected to support the market growth over the forecast period from 2021 to 2029. In addition, rising demand for forest biomass globally also represents a positive outlook for forestry cranes market.
Product characteristics for truck mounted forestry cranes vary with regional considerations. North America and Europe are developed markets and are influenced by the quality of products. Purchasing decision of buyers in these regions is strongly influenced by efficiency of crane system in terms of fuel consumption and output. Minimizing operational cost is a major decision for buyers of this machinery. Rising fuel prices is becoming a major element of operating cost for forestry machinery operators and contractors. Due to stringent labor regulations to improve workers safety and reduce CO2 emissions buyers are increasingly investing is advanced solutions. Thus, fuel efficiency has become important criteria in selection of forestry truck mounted crane. Another important criterion in selection is life of machinery. Buyers in North America and Europe prefer truck mounted cranes that have average life of at least 16 to 18 years and require less maintenance through its life. As initial purchasing cost of truck mounted cranes is very high credit availability also plays a crucial role in purchasing decision. In addition, buyers also give significant priority to service capabilities and availability of replacement parts.
Russia, South America and South East Asia are price sensitive markets compared to North America and Europe. Buying decision of forestry truck mounted cranes is strongly influenced by price of machinery. Product and suppliers are categorized based on price. However, with rising importance of reducing overall operating cost, contractors and individual buyers are shifting their interest towards advanced machineries to improve their operational efficiency and reduce costs.
Product characteristics for forestry cranes vary with regional considerations. North America and Europe are developed markets and are influenced by the quality of products. Purchasing decision of buyers in these regions is strongly influenced by efficiency of crane system in terms of fuel consumption and output. Minimizing operational cost is a major decision for buyers of this machinery. Rising fuel prices is becoming a major element of operating cost for forestry machinery operators and contractors. Due to stringent labor regulations to improve workers safety and reduce CO2 emissions buyers are increasingly investing is advanced solutions. Thus, fuel efficiency has become important criteria in selection of forestry cranes. Another important criterion in selection is life of machinery. Buyers in North America and Europe prefer forestry cranes that have average life of at least 16 to 18 years and require less maintenance through its life. As initial purchasing cost of truck mounted cranes is very high credit availability also plays a crucial role in purchasing decision. In addition, buyers also give significant priority to service capabilities and availability of replacement parts.
Russia, South America and South East Asia are price sensitive markets compared to North America and Europe. Buying decision of forestry cranes is strongly influenced by price of machinery. Product and suppliers are categorized based on price. However, with rising importance of reducing overall operating cost, contractors and individual buyers are shifting their interest towards advanced machineries to improve their operational efficiency and reduce costs.
Full tree and tree length harvesting are commonly used tree harvesting processes in North America. In this process, tree is handled in its full length throughout harvesting process. So, long truck mounted cranes are mostly preferred in the region for loading and transportation of trees from forest to workshop. Most of the small contractors in North America still prefer powerful, big and solid machines. However, cut to length (CTL) process is rapidly gaining popularity in Canada and urban areas of the U.S due to its benefits such as less environmental impact, less fuel consumption etc. This is increasing the demand for short wood and light weight truck mounted cranes in the region. In addition, light weight truck mounted cranes are increasingly used in tree length forestry process as these machines improve hauliers operation through the length of trailer compared heavy machineries. Cranes with hydraulic technology is mostly preferred by buyers as it offers higher lifting power, efficiency and flow compared with other types of cranes. Buyers in North America select truck mounted forestry cranes depending upon their loading capacity. Following table represents most preferred product specifications for forestry truck mounted cranes in North America.
Leading forestry crane manufacturers are focusing on market collaboration and developing advance solutions to maintain their shares in the global competitive environment. Major players focus on strategic partnership and Collaboration with organized players and local vendors in emerging forestry market. This has led to several collaborations, mergers and acquisitions among manufacturers. For example, In 2012 Palfinger Epsilon Inc. and Caterpillar signed an agreement to enter North American Forestry Truck Mounted Market.
To outperform competitors key players pursue the strategy of meeting customer requirements by developing new technologies and innovative solutions with distinct competitive advantage. Manufacturers consistently invest in R&D (research and development) and concentrate on setting new standards and increasing the pace of their new product development to achieve their growth objectives.
This research study provides analysis of each segment (boom type and regional market) from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments are calculated for the forecast period from 2021 to 2029.
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2. Increasing mechanization of forestry operations and technological advancement will drive the market for forestry cranes globally.
The global forestry cranes market was estimated US$ 972.8 Mn in 2020 and is expected to grow at a CAGR of 4.8% throughout the forecast period from 2021 to 2029. The demand for forestry cranes is primarily dependent on growth in demand for forestry products such as wood pellets and timbers used in industrial and construction applications. Continuous developments in crane technology to improve the efficiency of forestry operations is also expected to support the market growth over the forecast period from 2021 to 2029. In addition, rising demand for forest biomass globally also represents a positive outlook for forestry cranes market.
Product characteristics for truck mounted forestry cranes vary with regional considerations. North America and Europe are developed markets and are influenced by the quality of products. Purchasing decision of buyers in these regions is strongly influenced by efficiency of crane system in terms of fuel consumption and output. Minimizing operational cost is a major decision for buyers of this machinery. Rising fuel prices is becoming a major element of operating cost for forestry machinery operators and contractors. Due to stringent labor regulations to improve workers safety and reduce CO2 emissions buyers are increasingly investing is advanced solutions. Thus, fuel efficiency has become important criteria in selection of forestry truck mounted crane. Another important criterion in selection is life of machinery. Buyers in North America and Europe prefer truck mounted cranes that have average life of at least 16 to 18 years and require less maintenance through its life. As initial purchasing cost of truck mounted cranes is very high credit availability also plays a crucial role in purchasing decision. In addition, buyers also give significant priority to service capabilities and availability of replacement parts.
Russia, South America and South East Asia are price sensitive markets compared to North America and Europe. Buying decision of forestry truck mounted cranes is strongly influenced by price of machinery. Product and suppliers are categorized based on price. However, with rising importance of reducing overall operating cost, contractors and individual buyers are shifting their interest towards advanced machineries to improve their operational efficiency and reduce costs.
Hydraulic and premium efficiency cranes outpacing market growth in developed markets
Product characteristics for forestry cranes vary with regional considerations. North America and Europe are developed markets and are influenced by the quality of products. Purchasing decision of buyers in these regions is strongly influenced by efficiency of crane system in terms of fuel consumption and output. Minimizing operational cost is a major decision for buyers of this machinery. Rising fuel prices is becoming a major element of operating cost for forestry machinery operators and contractors. Due to stringent labor regulations to improve workers safety and reduce CO2 emissions buyers are increasingly investing is advanced solutions. Thus, fuel efficiency has become important criteria in selection of forestry cranes. Another important criterion in selection is life of machinery. Buyers in North America and Europe prefer forestry cranes that have average life of at least 16 to 18 years and require less maintenance through its life. As initial purchasing cost of truck mounted cranes is very high credit availability also plays a crucial role in purchasing decision. In addition, buyers also give significant priority to service capabilities and availability of replacement parts.
Russia, South America and South East Asia are price sensitive markets compared to North America and Europe. Buying decision of forestry cranes is strongly influenced by price of machinery. Product and suppliers are categorized based on price. However, with rising importance of reducing overall operating cost, contractors and individual buyers are shifting their interest towards advanced machineries to improve their operational efficiency and reduce costs.
Full tree and tree length harvesting are commonly used tree harvesting processes in North America. In this process, tree is handled in its full length throughout harvesting process. So, long truck mounted cranes are mostly preferred in the region for loading and transportation of trees from forest to workshop. Most of the small contractors in North America still prefer powerful, big and solid machines. However, cut to length (CTL) process is rapidly gaining popularity in Canada and urban areas of the U.S due to its benefits such as less environmental impact, less fuel consumption etc. This is increasing the demand for short wood and light weight truck mounted cranes in the region. In addition, light weight truck mounted cranes are increasingly used in tree length forestry process as these machines improve hauliers operation through the length of trailer compared heavy machineries. Cranes with hydraulic technology is mostly preferred by buyers as it offers higher lifting power, efficiency and flow compared with other types of cranes. Buyers in North America select truck mounted forestry cranes depending upon their loading capacity. Following table represents most preferred product specifications for forestry truck mounted cranes in North America.
Developing advanced timber handling solutions and market collaboration are major strategies of leading players
Leading forestry crane manufacturers are focusing on market collaboration and developing advance solutions to maintain their shares in the global competitive environment. Major players focus on strategic partnership and Collaboration with organized players and local vendors in emerging forestry market. This has led to several collaborations, mergers and acquisitions among manufacturers. For example, In 2012 Palfinger Epsilon Inc. and Caterpillar signed an agreement to enter North American Forestry Truck Mounted Market.
To outperform competitors key players pursue the strategy of meeting customer requirements by developing new technologies and innovative solutions with distinct competitive advantage. Manufacturers consistently invest in R&D (research and development) and concentrate on setting new standards and increasing the pace of their new product development to achieve their growth objectives.
Historical & Forecast Period
This research study provides analysis of each segment (boom type and regional market) from 2019 to 2029 considering 2020 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments are calculated for the forecast period from 2021 to 2029.
Key questions answered in this report
- What is the global market size of forestry cranes?
- What are the key investment areas in the global forestry cranes industry?
- Which are the leading trends and dynamics influencing the growth of global forestry cranes industry?
- Who are the dominating players and what are their market winning strategies in the global market?
- What are the key developments in the forestry crane technology?
- Which is largest and most potential market for forestry cranes?
- Who are leading players in each regional market?
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Table of Contents
Chapter 1 Preface
Chapter 2 Executive Summary
Chapter 3 Market Dynamics
Chapter 4 Global Forestry Cranes (FC) Market, By Boom Type
Chapter 5 North America Forestry Cranes (FC) Market Analysis
Chapter 6 Europe Forestry Cranes (FC) Market Analysis
Chapter 7 Asia Pacific Forestry Cranes (FC) Market Analysis
Chapter 8 Rest of the World (RoW) Forestry Cranes (FC) Market Analysis
Chapter 9 Company Profiles
Companies Mentioned
- Altec
- Cargotec.
- Bonfiglioli Group
- Palfinger Epsilon.
- Tamtron Group
- Bell Equipment
- Kesla Ag
- Link Belt
- V-Kran.
