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February 1, 2021
Long-term outlook positive for forestry machinery market
The global forestry machinery market, currently valued at around $4 billion, is anticipated to pass $6 billion by 2030, according to a recent report by leading market intelligence firm, Fact.MR. However, the COVID-19 pandemic has interrupted the growth of the industrial equipment machinery market due to nationwide lockdowns, leading to a steep fall in the sales of forestry machinery, globally. In addition, high initial investment of forestry machinery adds another layer of complexity, as several users are hesitant to invest in new forestry machinery at this time. This, in turn, is expected to see ...
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