A recent market research analysis from MarketsandMarketsTM claims that the Precision Forestry Market has shown substantial growth and is anticipated to keep growing. The market was worth USD 3.9 billion in 2019; by 2024, it is anticipated to be worth USD 6.1 billion, growing at a 9.0% compound annual growth rate (CAGR).

The market for precision forestry is expanding quickly, mostly due to a number of causes. The growing mechanisation of forestry in developing nations in Asia, the Pacific, and Africa is one important driver. Traditional manual forestry techniques are being replaced in these areas by mechanised operations, which increase production and efficiency. Another important factor propelling the precision forestry market is the increase in construction activity. A consistent supply of lumber is needed for construction projects, which increases the demand for effective forestry techniques. Precision forestry methods allow for the most efficient timber collection, guaranteeing a steady supply of wood for the construction sector.

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Cut-to-Length technology expected to hold the largest market share during the forecast period

During the projected period, Cut-to-Length (CTL) technology is anticipated to rule the precision forestry market. The considerable market share of CTL can be due to its growing adoption and the substitution of fully mechanised CTL harvesting technology for conventional forestry harvesting equipment. The old full-length and tree-length harvesting techniques are being replaced by the more accurate and efficient CTL technology in the forestry sector. The benefits provided by CTL, such as increased productivity, decreased waste, and higher operational efficiency, are what are driving this transition.

The Nordic nations have embraced CTL technology because it is particularly suited to cold climates and boreal woods. It may be utilised successfully in difficult terrains such sloping land, plantations, and peatlands. This adaptability helps explain why CTL is being used more frequently in different forestry operations. The extensive usage of CTL-based harvesting technology is best demonstrated by Sweden and Finland, where CTL techniques account for more than 90% of all logging. The widespread use of CTL technology in these areas demonstrates its usefulness and effectiveness in practical forestry applications.

Harvesting application accounted for the largest share of precision forestry market in 2018

The sector of harvesting applications accounted for the biggest market share for precision forestry in 2018. This significant market share can be ascribed to the growing use of harvesting technology that is based on cut-to-length (CTL). Worldwide demand for industrial round wood, which is utilised in many sectors including manufacturing and construction, is rising. The forest industry is rapidly using fully automated CTL-based harvesting technologies to effectively meet this demand. With the help of this technology, trees may be cut down precisely and effectively, increasing output and decreasing waste.

In temperate and boreal woods, CTL-based harvesting techniques are widely adopted, with the Nordic nations, particularly Sweden and Finland, setting the bar. In these areas, CTL techniques are used in more than 90% of the logging operations. The high adoption rate illustrates how well-liked and successful CTL technology is in practical forestry applications. CTL, or harvester forwarder systems, are essential components of the harvesting application area. In these systems, a harvester—which cuts and prepares trees—is combined with a forwarder, which moves the logs that have been cut. The combination of these two elements enables precise and effective harvesting operations, increasing production and lowering labour costs.

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Americas expected to hold the largest share of precision forestry market during the forecast period

Throughout the projection period, the Americas region is anticipated to be the largest market for precision forestry. Due in large part to the United States and Canada's early adoption of precision forestry technologies, the Americas already represented a sizeable portion of the market in 2018. The Americas' abundance of forest resources is a factor in the rise in demand for precision forestry technology. Large-scale forested areas are present in the area, and the implementation of cutting-edge forestry techniques is fueled by the rising demand for industrial round wood and associated goods.

Leading the way in implementing precision forestry technologies are the US and Canada. These nations have taken the initiative to adopt cutting-edge techniques for streamlining operations and improving forest management. A common trend in the area is the replacement of outdated cut-to-length (CTL)-based forestry harvesters with more modern and sophisticated models. The demand for precision forestry tools and services is increased by this move towards CTL technology. The Americas area offers substantial prospects for providers of precision forestry technology due to its emphasis on sustainability and effective resource management. The forestry industry benefits from the adoption of these technology since it increases productivity, reduces waste, and encourages sustainable practises.

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).

News Covered:

https://www.prnewswire.com/news-releases/precision-forestry-market-worth-6-1-billion-by-2024--exclusive-report-by-marketsandmarkets-300877711.html

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