As the timber industry continues to see rapid growth with rising commercial development and road building worldwide, the level of technology used in forestry harvesting has been increasing at steady pace. With a paradigm shift from animal-powered to more mechanized process, forestry industry operators are increasingly focusing on the use of advanced technologies to enhance management capabilities and raise the production. Over the years, forestry trailers have garnered high traction as viable machinery for optimized and fast transportation of logged woods from forests to store landings. The demand for forestry trailers is further gaining a boost from elevating adoption of timber for construction and wood pellets for biofuel.
According to a new business intelligence report by Persistence Market Research, the global forestry trailers market is projected to register a CAGR of ~4% during the period, 2019-2029. Sensing the lucrative nature of the market and rapidly expanding timber industry, leading automotive manufacturers are foraying into the production and sales of forestry trailers. An example has been illustrated by Mercedes-Benz, the global automotive giant, which has introduced its own line of forestry trailer, Unimog. With cloud swirling around automation and digital technologies, manufacturers are focusing on integration of advanced technologies in their products such as GPS system, in addition to offering high speed and high capacity shears. Moreover, as farmers and construction contractors continue to embrace newer technologies, forestry trailer manufacturers are likely to follow suit and incorporate various technology solutions to make their product smarter and more productive.
Opportunities Abound in Developing Economies
Continued urbanization and industrialization, especially in developing economies, has led to increase in the use of round wood in construction activities, thereby potentially raising the demand for forestry trailers for various harvesting applications. Asian countries continue to offer greater opportunities for the forestry trailers market players, on the account of increasing consumption of timber wood products. On the one hand, Europe will continue to remain in the vanguard of the forestry trailers market, due to strong presence of market players and significant share of the world’s forested area.
Considering fossil fuel a dwindling resource and continuous volatility in oil prices, the demand for wood pellets has been on the rise in the recent years, contributing to the growth of the forestry trailers market. Notable increase in biomass collection for energy generation, especially in North America and Europe, is further likely to work to the advantage of the manufacturers.
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However, it is imperative to note that, mounting concerns over deforestation and increasing incidences of wildfires damaging forest resource are likely to represent as a potential threat to the market growth. Several governments across the globe are taking initiatives for forest conservation and imposing tougher regulations to restrict the rate of deforestation, which could adversely influence the growth of the forestry trailers market.