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Forestry Cranes Market By Boom Type (A-Line Boom, L-Line Boom, Z-Line Boom) - Growth, Future Prospects & Competitive Analysis, 2018 – 2026

Increasing mechanization of forestry operations and technological advancement will drive the market for forestry cranes globally.

The global forestry cranes market was valued at US$ 850.4 million in 2017 and is expected to grow at a CAGR of 4.8% from 2018 to 2026. The demand for forestry cranes is primarily dependent on the growth in demand for forestry products such as wood pellets and timbers used in industrial and construction applications. Continuous developments in crane technology to improve the efficiency of forestry operations are also expected to support market growth over the forecast period from 2018 to 2026. In addition, the rising demand for forest biomass globally also represents a positive outlook for the forestry crane market.

Product characteristics for truck-mounted forestry cranes vary with regional considerations. North America and Europe have developed markets that are influenced by the quality of products. The purchasing decisions of buyers in these regions are strongly influenced by the efficiency of crane systems in terms of fuel consumption and output. Minimizing operational costs is a major decision for buyers of this machinery. Rising fuel prices are becoming a major element of operating costs for forestry machinery operators and contractors.

Due to stringent labor regulations to improve workers' safety and reduce CO2 emissions, buyers are increasingly investing in advanced solutions. Thus, fuel efficiency has become an important criterion in the selection of forestry truck-mounted cranes. Another important criterion in selection is the life of the machinery. Buyers in North America and Europe prefer truck-mounted cranes that have an average life of at least 16 to 18 years and require less maintenance throughout their lives. As the initial purchase cost of truck-mounted cranes is very high, credit availability also plays a crucial role in the purchasing decision. In addition, buyers also give significant priority to service capabilities and the availability of replacement parts.

Russia, South America, and Southeast Asia are price-sensitive markets compared to North America and Europe. The buying decision for forestry truck-mounted cranes is strongly influenced by the price of the machinery. Products and suppliers are categorized based on price. However, with the rising importance of reducing overall operating costs, contractors and individual buyers are shifting their interest towards advanced machinery to improve their operational efficiency and reduce costs.

Market Synopsis

Hydraulic and premium-efficiency cranes are outpacing market growth in developed markets.

Product characteristics for forestry cranes vary with regional considerations. North America and Europe have developed markets that are influenced by the quality of products. The purchasing decisions of buyers in these regions are strongly influenced by the efficiency of crane systems in terms of fuel consumption and output. Minimizing operational costs is a major decision for buyers of this machinery. Rising fuel prices are becoming a major element of operating costs for forestry machinery operators and contractors.

Due to stringent labor regulations to improve workers' safety and reduce CO2 emissions, buyers are increasingly investing in advanced solutions. Thus, fuel efficiency has become an important criterion in the selection of forestry cranes. Another important criterion in selection is the life of the machinery. Buyers in North America and Europe prefer forestry cranes that have an average life of at least 16 to 18 years and require less maintenance throughout their lives. As the initial purchase cost of truck-mounted cranes is very high, credit availability also plays a crucial role in the purchasing decision. In addition, buyers also give significant priority to service capabilities and the availability of replacement parts.

Russia, South America, and Southeast Asia are price-sensitive markets compared to North America and Europe. The cost of forestry cranes has a significant impact on the purchasing decision. Products and suppliers are categorized based on price. However, with the rising importance of reducing overall operating costs, contractors and individual buyers are shifting their interest towards advanced machinery to improve their operational efficiency and reduce costs.

Full-tree and tree-length harvesting are commonly used tree harvesting processes in North America. The tree is handled in its entirety throughout the harvesting process in this method. So, long truck-mounted cranes are mostly preferred in the region for loading and transportation of trees from the forest to the workshop. Most of the small contractors in North America still prefer powerful, big, and solid machines.

However, the cut-to-length (CTL) process is rapidly gaining popularity in Canada and urban areas of the U.S. due to its benefits, such as less environmental impact, lower fuel consumption, etc. This is increasing the demand for short-wood and lightweight truck-mounted cranes in the region. Furthermore, lightweight truck-mounted cranes are increasingly being used in the tree-length forestry process because they improve haulers' operations by reducing trailer length when compared to heavy pieces of machinery.

Cranes with hydraulic technology are mostly preferred by buyers as they offer higher lifting power, efficiency, and flow compared with other types of cranes. Buyers in North America select truck-mounted forestry cranes depending on their loading capacity. The following table represents the most preferred product specifications for forestry truck-mounted cranes in North America.

Developing advanced timber handling solutions and market collaboration are two of the major strategies of leading players.

Leading forestry crane manufacturers are focusing on market collaboration and developing advanced solutions to maintain their shares in the global competitive environment. Major players focus on strategic partnerships and collaboration with organized players and local vendors in the emerging forestry market. This has led to several collaborations, mergers, and acquisitions among manufacturers. For example, in 2012, Palfinger Epsilon Inc. and Caterpillar signed an agreement to enter the North American Forestry Truck Mounted Market.

To outperform competitors, key players pursue the strategy of meeting customer requirements by developing new technologies and innovative solutions with a distinct competitive advantage. Manufacturers consistently invest in R&D (research and development) and concentrate on setting new standards and increasing the pace of their new product development to achieve their growth objectives.

Periods of History and Forecast

This research study provides an analysis of each segment (boom type and regional market) from 2016 to 2026, considering 2017 as the base year for the research. The compound annual growth rate (CAGR) for each of the respective segments is calculated for the forecast period from 2018 to 2026.

Key questions are answered in this report.

  • What is the global market size of forestry cranes?
  • What are the key investment areas in the global forestry crane industry?
  • Which are the leading trends and dynamics influencing the growth of the global forestry crane industry?
  • Who are the dominant players, and what are their winning strategies in the global market?
  • What are the key developments in forestry crane technology?
  • Which is the largest and most potential market for forestry cranes?
  • Who are the leading players in each regional market?

Frequently Asked Question:

The market for Forestry Cranes Market is expected to reach USD$ 850.4 Mn in 2026.

The Forestry Cranes Market is expected to see significant CAGR growth over the coming years, at 4.8%.

The report is forecasted from 2018 -2026.

The base year of this report is 2017.

Altec,Cargotec.,Bonfiglioli Group,Palfinger Epsilon.,Tamtron Group. are some of the major players in the global market.

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Trusted By
Godaddy
Published Date:  Dec 2018
Category:  Automotive & Transportation
Report ID:   59467
Report Format:   PDF
Pages:   120
Rating:    4.4 (49)
Delivery Time: 24 Hours to 48 Hours   
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