Biolubricants to Play an Increasingly Important Role in the Global Forestry Equipment Industry

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Mar 24, 2022, 10:17 ET

CLEVELAND, March 24, 2022 /PRNewswire/ -- Biolubricants, which are lubricants derived from renewable or biomass feedstocks rather than petroleum, are expected to play an increasingly important role in the forestry equipment industry as equipment manufacturers and operators strive to improve their environmental profile, according to a Freedonia Group analysis.

Demand for biolubricants is significant only in a number of developed countries – partially due to cost factors, but also to the lack of performance benefits offered by biolubricants. Since their benefit is purely environmental, they are most popular in total loss applications, such as chainsaw oils. Thus, demand for biolubricants is most relevant in developed countries that have a significant presence of outdoor power equipment, such as the United States, Germany, Japan, Canada, and the Nordic countries, some of which have enacted measures that will support biolubricant use in forestry and other equipment. For example:

The United States federal government has adopted rules that afford procurement preferences for biolubricants, including hydraulic fluids and other industrial lubricants.
Germany, the second largest market for biolubricants in the world, has put programs in place to convert equipment from conventional lubricants to biobased products, especially in off-highway vehicles used in construction and forestry.

Global Forestry Equipment Market to Total $9.3 Billion in 2025

Global demand for forestry equipment is forecast to expand 3.8% per year to $9.3 billion between 2020 and 2025. Following a weak market performance due to the effects of the COVID-19 pandemic, global forestry activity will expand and the outlook for the related equipment market will improve as:

economic conditions stabilize around the world and international trade and foreign investment recover
wood prices rebound from lows reached in 2020 in many parts of the world
manufacturing activity grows, and new wood-composite materials and goods are introduced as alternatives to less environmentally friendly products (e.g., plastics)
global construction spending accelerates, and the use of more advanced building techniques in developing nations grows
forestry operations in mature markets adopt new technologies to maximize their productivity, comply with new regulations, and reduce their impact on the environment
use of more machinery-intensive logging techniques grows in many developing nations

Want to Learn More?

Global Forestry Equipment from The Freedonia Group provides historical data for 2010, 2015 and 2020, and forecasts to 2025 and 2030 for global forestry equipment demand in current (including inflation) US dollars and/or units by product and major global region and country. Forested land is calculated in hectares and roundwood production in cubic meters.

The following types of products are covered:

felling equipment (chainsaws; harvesters; feller bunchers and other felling equipment)
extracting equipment (forwarders; skidders; other extracting equipment)
on-site processing equipment (chippers and grinders; delimbers, slashers, wood splitters)
other forestry equipment (e.g., loaders, mulchers, dozers and other logging site preparation machinery, brushcutters, scarifiers, tree planting machines, spreaders/sprayers, slash bundlers)
separately sold parts and attachments

About the Freedonia Group - The Freedonia Group, a division of MarketResearch.com, is the premier international industrial research company, providing our clients with product analyses, market forecasts, industry trends, and market share information. From one-person consulting firms to global conglomerates, our analysts provide companies with unbiased, reliable industry market research and analysis to help them make important business decisions. With over 100 studies published annually, we support over 90% of the industrial Fortune 500 companies. Find off-the-shelf studies at https://www.freedoniagroup.com/ or contact us for custom research: +1 440.842.2400.

Press Contact:
Corinne Gangloff
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SOURCE The Freedonia Group