The global forestry equipment market is expected to grow from approximately $1.132 billion in 2025 to $1.62 billion in 2034, with North America projected to hold the largest share.
According to a report by Fortune Business Insights, the global forestry equipment market was valued at approximately $1.132 billion in 2025 and is expected to reach $1.62 billion in 2034. Growth in 2026 is projected at a CAGR of 4.1%. By region, North America accounted for approximately 33.9% of the global market, with a market size of approximately $384 million. Meanwhile, the U.S. market is projected to be approximately $2.95 billion in 2026. These figures reflect the impact of rising demand for timber, growth in bioenergy and the wider adoption of renewable energy.
Logging equipment is expected to hold the largest market share, accounting for approximately 37.14% of the total in 2026. Extraction equipment is expected to account for approximately 27% of the global market in 2025, while other segments, including on-site processing equipment, are also expected to grow. In addition, adoption of new machinery is accelerating. New machinery is expected to account for approximately 67.46% of the market in 2026, driven by demand to replace aging equipment.
The expanding adoption of automation and smart technologies is also driving the market. Equipment combining GPS, remote sensors and telematics is improving operating efficiency and data use at worksites. Major companies include Deere & Company, Komatsu, Caterpillar, Hitachi Construction Machinery and Ponsse, with partnerships and M&A activity progressing to strengthen their presence in North America and Europe.