LONDON, Jan. 20, 2021 (GLOBE NEWSWIRE) —
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According to The Business Research Company’s research report on the forestry and logging market, the global forestry and logging market is supported by the large consumer population in both developed and developing countries, as well as growing demand from residential construction and marine industry sectors. In TBRC’s logging industry and forest industry overview it is seen that North America and Europe are well-established and mature markets where there is a well-established supply chain for forestry and logging and where the major companies of the market are located. Developing regions such as Asia-Pacific, the Middle East, and Africa are fast-growing markets.
The global forestry and logging market size reached a value of nearly $535.96 billion in 2020, having increased at a compound annual growth rate (CAGR) of 0.8% since 2015. The market is expected to grow from $535.96 billion in 2020 to $726.51 billion in 2025 at a rate of 6.3%. The growth is mainly due to the demand for forestry and logging products. The market is expected to grow to $956.71 billion in 2030 at a CAGR of 5.7%.
The Business Research Company’s report titled Forestry And Logging Global Market Report 2020-30: COVID-19 Impact and Recovery covers major forestry and logging companies, forestry and logging market share by company, forestry and logging manufacturers, forestry and logging market size, and forestry and logging market forecasts. The report also covers the global forestry and logging market and its segments.
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Due to increasing prices and environmental impacts of fossil fuels, the use of bio energy or biofuel is gaining more popularity in the global forestry and logging products market. Biomass is organic material that is derived from plants and animal residues. Timber acts as a major source of biomass. According to the statistical data from FAO and the International Energy Agency (IEA), bio energy production has increased by multi folds in the last 5 decades and is expected to reach an equivalent of 1,075 million tons of oil by 2030. Similarly, consumption of timber for the production of bio energy is expected to increase to 3.8 billion cubic meters by 2030. Bio energy and biofuel have positive impacts on the environment and can help in fighting with climate change – if the biomass is handled efficiently. Therefore, use of biomass is being promoted by governments and various organizations. The Government of India for one has approved the current addition of the National Bio-fuel Policy, which aims to increase the utilization of biofuel by 20% of the fossil-based fuel by 2030. Such efforts are expected to increase and promote the use of forest wood for the generation of biomass. Therefore, this positively impacts the forestry and logging market.
While demand for biomass drives the market, the adoption of automated forestry management will contribute towards the growth of forestry and logging market in the emerging economy during the forecast period by simplifying the forest management process. It reduces the manual paperwork and provides an integrated approach for managing tasks. Automated Forestry Management provides asset tracking, automated weighing, compliance with regulations, and real-time overview of financial positions. Forestry and logging products manufacturing companies should thus focus on automating their operations and in turn boosting forestry software market growth. In this way, the market is propelled both before and during the processes involved for forestry and logging.
Forestry And Logging Global Market Report 2020-30: COVID-19 Impact and Recovery is one of a series of new reports from The Business Research Company that provide market overviews, analyze and forecast market size and growth for the whole market, segments and geographies, trends, drivers, restraints, leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies. The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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