Accurate estimates of above-ground tree biomass within forest inventories are essential for calibration and validation of biomass mapping products based on Earth observation data. Terrestrial laser scanning (TLS) enables detailed and non-destructive volume estimation of individual trees, which can be converted to biomass with wood basic density. Existing TLS-based approaches range from simple geometrical features to virtual 3D reconstruction of entire trees. Validating such approaches with weight measurements is a key step before the integration of TLS or other close-range technologies into operational applications such as forest inventories. In this study, we firstly evaluate individual tree volume estimation approaches based on 3D reconstruction through quantitative structure models (QSM) against destructive reference data of 60 trees and compare them to operational allometric scaling models (ASM). Secondly, we determine the explanatory power of TLS-derived geometric parameters regarding total wood, stem, coarse wood and fine branch volume. We observe similar accuracy in merchantable (>7 cm) wood compartments for ASMs (NRMSE = 25 %) and QSMs (NRMSE = 29 %), with QSMs showing better results for broadleaves than conifers and generally overestimating fine branch volume. Feature selection shows that a combination of stem diameters and volume of convex hulls around tree crowns has the most potential to model the entire tree volume including branches, especially for conifers. In cases where the quality of available point clouds is insufficient for QSMs, 3D information can thus still be utilised by deriving geometric parameters. The integration of crown dimension parameters into new allometric models could substantially improve the estimation of branch wood volume.