NEW YORK, Aug. 5, 2019 /PRNewswire/ -- The global forestry trailers market was valued at ~US$ 140 Mn in 2014 and is anticipated to be valued at ~US$ 162 Mn by the end of 2019. The market is expected to grow at a significant CAGR of ~4% between 2019 and 2029 and is estimated to reach a global value of ~US$ 233 Mn by 2029 end. Additionally, the global forestry trailers market is estimated to create incremental $ opportunity of US$ 71 Mn over the forecast period.

Persistence Market Research (PMR) has released a new market study on forestry trailers that involves the global industry analysis 2014–2018 and forecast 2019–2029. The report sheds light on the key factors that are expected to boost the market further while the restraints, and analyzes the ongoing trends in the market and also provides information about opportunities for established global players and for regional manufacturers trying to enter into the market.

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Extensive Use of Timber & Roundwood Favoring Sales

The recent studies suggest that the timber market in the global scenario holds a share of 1% in the total global GDP. This report further projects 4X timber production towards the end of 2050. Due to the massive global timber market and opportunities during the forecast period, the market of forestry trailers could witness decent growth and developments in the global market.

The extensive use of timber and roundwood in multiple industries is likely to provide a vast customer base to forestry trailers in the global market. The use of wood pallets in the energy production sector to cope up with the fossil fuel crises is anticipated to provide impetus to the forestry trailers market. The use of furniture in residential as well as commercial buildings is expected to create opportunities for the forestry trailers market, thereby increasing forestry trailers sales.

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Europe Leading the Way in Forestry Trailers Market

Regional analysis estimated that that Europe will remain a prominent region throughout the forecast period. Russia and Estonia markets with ample amount of forestry resources are likely to promote the forestry trailers market of Europe. The impressive presence of several manufacturers in Europe's forestry trailers market will maintain a competitive price point, assuring potential growth opportunities in the market.

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The market in Russia is expected to be a prime market in Europe and will likely progress forward with a decent pace due to the massive tree cover that the country possesses. The fact that nearly 50% of the energy production in Brazil is from wood pallets and the decent potential of the Brazil market and some other countries in vicinity will surge the forestry trailers market of Latin America region.

North America's market for forestry trailers will also progress over the course of time, with the support of some global players actively operating in the U.S. and Canada. This scenario will accelerate the development of forestry trailers market in North America. The market in Middle East and Africa is negligible in terms of volume and value with only the rest of Middle East and Africa market could provide some opportunities to manufacturers in the region. The market of South Asia will mostly be dominated by ASEAN countries with decent forestry cover in many ASEAN countries.

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The prominent market participants involved in the manufacturing of forestry trailers, are JPM Trailers, STEPA Farmkran GmbH, Scandicon OÜ, KESLA OYJ, INDUSTRIAS GUERRA, S.A., Chieftain Trailers Ltd, KELLFRI, Jas P Wilson, Palmse Mehaanikakoda Ou, Jyki Oy, Dennison Trailers Ltd, and Oniar.

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