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Worldwide Forestry Equipment Industry to 2026 - Increasing Automation to Boost the Forestry Equipment Demand - ResearchAndMarkets.com
April 20, 2021 GMT
DUBLIN (BUSINESS WIRE) Apr 20, 2021
The forestry equipment market is expected to register a CAGR of 4.75% over the forecast period of 2021 - 2026.
According to New Zealand’s Ministry for Primary Industries, Forestry is New Zealand’s third-biggest export industry, after dairy and meat, accounting for around USD 5 billion a year, and 3.2% of the country’s gross domestic product. ATS Logging Limited is using six Volvo Construction Equipment (Volvo CE) excavators at three plantation forests across New Zealand, which are helping the industry to meet its target of USD 12 billion in forest and wood product exports by 2022, set by the Wood Council of New Zealand.