According to the new market research report "Precision Forestry Market
by Technology (CTL, Geospatial, Fire Detection), Application
(Harvesting, Silviculture & Fire Management, Inventory &
Logistics), Offering (Hardware, Software, Services), and Geography -
Global Forecast to 2024", published by MarketsandMarkets, the
precision forestry market was worth USD 3.9 billion in 2019 and is
projected to reach USD 6.1 billion by 2024, at a CAGR of 9.0% from 2019
to 2024.
The rapid growth of the precision forestry market can
be attributed to the increasing forestry mechanization in emerging
countries of Asia Pacific and Africa, rising construction activities,
growing demand for timber from sawmills, decreasing cost of forestry
mapping technologies, prevention of illegal logging & deforestation;
and increasing government support towards digitalization of forest
management. Precision forestry has the potential to transform the
forestry industry by making traditional activities more efficient and
economical. Also, government initiatives in many countries are helping
foresters adopt advanced technologies and tools for site-specific
management of the forest. The cost of precision forestry technology is
expected to decrease in the next couple of years, mainly because of the
declining prices of major hardware components, which is likely to
contribute to the market’s growth.
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Cut-to-Length technology expected to hold the largest market share during the forecast period
The increasing replacement of conventional forestry
harvesting equipment—full length and tree length—with fully mechanized
cut-to-length (CTL) harvesting technology, is the major factor driving
the growth of this segment. Fully mechanized CTL-based harvesting
technology has become widely accepted in the forestry industry. CTL can
be used in extreme temperatures and boreal forests, particularly in
Nordic countries. For instance, CTL-based harvesting technologies are
used wherein 30% of the land is inclined. Further, it can also be used
in plantations and peatlands. Currently, more than 90% of logging in
Sweden and Finland is carried out by CTL-based harvesting technology.
Harvesting application accounted for the largest share of precision forestry market in 2018
The growth of the harvesting application segment can
be attributed to the increasing adoption of CTL-based harvesting
technology. Further, the growing demand for industrial round wood across
the world is expected to fuel the growth of this market. Fully
mechanized CTL based harvesting is being used widely by the forest
industry in temperate and boreal forests, particularly in Nordic
countries. Currently, more than 90% of logging in Sweden and Finland is
carried out by harvester forwarder systems, popularly known as
cut-to-length (CTL).
Americas expected to hold the largest share of precision forestry market during the forecast period
The Americas held the largest share of the precision
forestry market in 2018. The US and Canada are the early adopters of
precision forestry technologies, which is the primary reason for the
large market share of this region. The presence of a large number of
forests and the increasing demand for industrial round wood and its
related products are the major factors driving the growth of precision
forestry technology in this region. Increasing replacement of old
forestry harvesters with more advanced and sophisticated CTL-based
harvesters in the US and Canada is expected to create additional demand
for forestry technology in this region.
The report profiles key players including Deere &
Company (US), Trimble (US), Raven Industries (US), Tigercat (Canada),
Ponsse (Finland), Komatsu Forest AB (Sweden), Caterpillar (US),
Treemetrics (Ireland), Rottne Industri AB (Sweden), Ecolog (Sweden),
Sampo Rosenlew (Finland), Quantum Spatial (US), Hitachi Construction
Machinery (Japan), Doosan Infracore (South Korea), Blount International
(US), Integrated Forest Management (US), Silvere (Finland), DroneSeed
(US), Insight Robotics (Hong Kong), Treevia Forest Technologies
(Brazil), and Aerobotics (South Africa).
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