PUBLISHER: Market Research Future | PRODUCT CODE: 1679124
PUBLISHER: Market Research Future | PRODUCT CODE: 1679124
Global Woodworking Machine Market Research Report By Machine Type (Planers, Jointers, Table Saws, Milling Machines, Boring Machines), By Power Source (Electric, Hydraulic, Pneumatic), By Application (Furniture Making, Construction, Musical Instrument Production, Specialty Woodworking), By Automation Level (Manual, Semi-Automatic, Automatic), By Size (Benchtop, Floor-Standing, Large-Scale) and By Regional (North America, Europe, South America, Asia Pacific, Middle East and Africa) Forecast to 2032
The Woodworking Machine Market is expected to develop at a substantial CAGR (growth rate) of about 3.9% during the projected period, according to MRFR analysis.
The market for woodworking machines is undergoing a dramatic shift due to changing customer needs and technology breakthroughs. Woodworking machines are now essential for contemporary production processes due to their increased precision, efficiency, and versatility brought about by the integration of computer numerical control (CNC) and sophisticated software.
The growing popularity of do-it-yourself projects, the growing demand for personalized furniture, and the increased use of sustainable materials are the main factors driving the industry. Additionally, the growth of the construction sector is opening new markets for woodworking equipment.
Self-optimization features, better user interfaces, and the creation of machines that target industrial verticals are some recent advancements in the woodworking machine market. The market is also changing because of the use of automation and robotics, which allow producers to increase output while cutting expenses. Additionally, as manufacturers place a higher priority on operator well-being and industry compliance, the emphasis on ergonomics and safety features is growing.
Perspectives on Market Segments
Planers, jointers, table saws, milling machines, and boring machines are the machine types that make up the woodworking machine market segmentation. In 2023, the Table Saws segment accounted for more than 25% of the Woodworking Machine Market's revenue, making it the segment with the greatest market share.
Electric, hydraulic, and pneumatic power sources make up the market segmentation. The Electric sector is expected to continue to dominate the market during the forecast period, having held the biggest share in 2023.
The market for woodworking machines is divided into several segments based on their applications, including specialty woodworking, construction, furniture making, and the production of musical instruments.
The market's automation level sector is divided into three categories: automatic, semi-automatic, and manual machines.
The market for woodworking machines is divided into three segments based on size: benchtop, floor-standing, and large-scale.
Regional Market Insights
North America, Europe, APAC, South America, and MEA comprise the various segments of the woodworking machine market. With a revenue of USD 20.5 billion in 2023, North America has the biggest market share among all regions. The market for woodworking machines in North America is expanding due in large part to the region's well-established construction sector and rising demand for custom furniture. With a 2023 market value of USD 17.8 billion, Europe comes in second to North America.
The market is expanding because of the region's emphasis on automation and technical developments. APAC is anticipated to develop significantly over the course of the projection period, reaching a projected market size of USD 35.2 billion by 2032 because of the region's growing urbanization and disposable income. Though at a slower rate, South America and MEA are also anticipated to contribute to the woodworking machine market's overall expansion.
Homag, SCM Group, Bosch, Weinig, Biesse, Ridgid, Metabo, PorterCable, Festool, Dewalt, Makita, Hilti, HolzHer, Milwaukee, and Morbidelli are some of the major players in the woodworking machine market.