Global Forestry and Logging Market Size, Share, Growth, and Industry Analysis, By Type (Logging & Timber Services), By Application (Construction & Industrial) and Regional Forecast to 2032

Updated On: 03 September 2024

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FORESTRY AND LOGGING MARKET REPORT OVERVIEW

The global Forestry and Logging Market Size was USD 176.96 billion in 2023and the market is projected to touch USD 273 billion in 2032, exhibiting a CAGR of 4.1% during the forecast period.

This market relates to the practice, production, and sale of forests for wood and all other products got from them. It is important especially for the provision of raw materials, which are used in construction, papermaking, and energy production. It also has more of the responsibility of environmental stewardship, where the promotion of sustainable utilization of forests for the conservation of forest resources, fauna, and flora is of importance. Expanding on the demand for wood-based products, the industry has the opportunity to widen its market as well as find considerable challenges connected with sustainability and regulation restrictions. New trends include new developments in logging technology and the introduction of environmentalism as a log system parameter.

COVID-19 Impact: Market Growth Restrained During Pandemic Due to Demand decline

The global COVID-19 pandemic has been unprecedented and staggering, with the market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden market growth reflected by the rise in CAGR is attributable to market’s growth and demand returning to pre-pandemic levels.

The outbreak of COVID-19 had a negative effect on the Forestry and Logging Market, and hence a reduced demand for timber and other forest products, mainly because the construction, manufacture, and export industries were affected. Restrictions in mobility due to lockdowns and limited operations of transport affected supply chains and logistics to constrain logging and consequently, production. Also, scarcity of labor and economic volatility undermined reforestation and forestry management processes. Accompanied by these factors, the industry had encountered considerable issues during the pandemic.

LATEST TRENDS

"Precision forestry technology drives market growth by enhancing efficiency and sustainability"

The latest emerging trend in the Forestry and Logging Market is known as precision forestry technology. This includes the use of UAV aerial mapping and remote sensing information to enhance efficiency on the forest resources and timber yield and minimal damage to the natural endowed environment. Because the growth of trees, the status of the soil, and the conditions in the forest itself can be observed very closely, no unnecessary expenses and waste are incurred by these companies. Such a change in the industry’s orientation suggests other concerning changes towards digital sustainability and proper management of forests.

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SEGMENTATION

By Type

Based on type the market can be categorized into Logging & Timber Services.

Logging: The company’s logging segment comprises the procurement, conversion, and transport of logs and timber from operation sites to conversion centers such as sawmills and processing plants. This includes clear cuts, selective cuts, and shelterwood cuts to make wood products meet the demand in the market. Hence, logging is very vital in supplying the unprocessed materials for construction, production of papers, and other products from the timber source.

Timber Services: Timber services are those activities that have to do with the maintenance of the forest via planting of trees and pruning, among other activities for the growth of the trees. It is important that forest health is sustained and that there is diversity in the forests and that places conform to the environmental regulations, hence the importance of these services. They provide an adequate basis for the continued funding of the logging industry since they enable replenishment of the forest.

By Application

Based on application the market can be categorized into Construction & Industrial

Construction: The construction segment utilizes timber in framing, flooring, and wall and ceiling finishing in this segment. As such, wood is widely recommended for use in construction projects for residential, commercial, and structural work. There is also development in the engineered wood products that is improving their use in contemporary structures.

Industrial: In the industrial sector, timber is applied in the production of products such as pallets, crates, and industrial packaging. It is used in the production of parts and structural frameworks of machinery and equipment. The need to obtain high-quality woods that are also easy to customize enough for logistics as well as manufacturing purposes is the main growth drive here.

DRIVING FACTORS

"Rising timber demand drives market growth in forestry and logging industries"

The growth that is observed in the global consumers’ demand for timber, including logs, paper, furniture, and many other wood products, became one of the leading factors for the development of the Forestry and Logging Market. This demand has been occasioned by expansion in the construction, housing, and packaging industries. He stated that with the growth of the urban areas, there is also an increased need for green and sustainable wood products and resulting Forestry And Logging Martket growth.

"Sustainable practices are key to market growth in the forestry industry"

This concept has become decisive in the forestry industry, where more attention is paid to reasonable utilization of the forests. Governments and organizations are encouraging the use of green belt projects and recycled products so as to reduce cases of deforestation. It assists firms to continue with their production processes that rely on forest products without violating the legal requirements on environmental conservation.

RESTRAINING FACTOR

"Regulations increase costs, hindering market growth in forestry and logging"

One common threat that affects the growth of the Forestry and Logging Markets is that most governments have put in place regulatory measures that check deforestation and protect wildlife. All these regulations are put in place to curtail logging operations and raise the operational costs for companies, especially those that have not gone green. Where compliance issues arise, it can decrease profitability and slow down growth of the market.

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FORESTRY AND LOGGING MARKET REGIONAL INSIGHTS

The market is primarily segregated into Europe, Latin America, Asia Pacific, North America, and Middle East & Africa.

"North America's abundant resources and policies drive market growth"

North America holds the largest Forestry and Logging Market share because of its availability of a large number of forests and well-developed facilities for logging and timber processing. Other factors boosting the market include: the region has numerous demand for wood products in construction projects and paper industries, more so in Indonesia. Further, North America adopts long-term forest resource management policies to guarantee sustainable supply in the future. It is also anchored to the projection of a strong presence of the leading companies in the global market.

KEY INDUSTRY PLAYERS

"Market growth driven by technology, sustainability, and global outreach"

Current participants of the Forestry and Logging Market are working on the growth area through the implementation of cutting-edge technologies like precision, encouraging sustainable usage, and global outreach. They apply their resources in innovation technology, environmental conservation, and the supply chain to increase production to cater for increasing demand. Also, their stewardship of the forests contributes to sustainable production to meet the demand and, at the same time, not exploit the limited natural resources, hence altering the markets.

List of Market Players Profiled

• Hancock Victorian Plantations (Australia)
• Weyerhaeuser (US)
• Scottish Woodlands (UK)
• Tilhill Forestry (UK)
• F?W (UK)

INDUSTRIAL DEVELOPMENT

April 2023:A recent industrial development in the Forestry and Logging Market is the launch of the John Deere 948L-II Skidder, introduced by John Deere. This new model features advanced technology and improved fuel efficiency, designed to enhance productivity and reduce environmental impact in logging operations. The 948L-II Skidder incorporates state-of-the-art features for better manoeuvrability and operator comfort, reflecting the industry's shift towards more sustainable and efficient forestry equipment.

REPORT COVERAGE

This report is based on historical analysis and forecast calculation that aims to help readers get a comprehensive understanding of the global Forestry and Logging Marketfrom multiple angles, which also provides sufficient support to readers’ strategy and decision-making. Also, this study comprises a comprehensive analysis of SWOT and provides insights for future developments within the market. It examines varied factors that contribute to the growth of the market by discovering the dynamic categories and potential areas of innovation whose applications may influence its trajectory in the upcoming years. This analysis encompasses both recent trends and historical turning points into consideration, providing a holistic understanding of the market’s competitors and identifying capable areas for growth.

This research report examines the segmentation of the market by using both quantitative and qualitative methods to provide a thorough analysis that also evaluates the influence of strategic and financial perspectives on the market. Additionally, the report's regional assessments consider the dominant supply and demand forces that impact market growth. The competitive landscape is detailed meticulously, including shares of significant market competitors. The report incorporates unconventional research techniques, methodologies and key strategies tailored for the anticipated frame of time. Overall, it offers valuable and comprehensive insights into the market dynamics professionally and understandably.