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
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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