PUBLISHER: The Business Research Company | PRODUCT CODE: 1435615
PUBLISHER: The Business Research Company | PRODUCT CODE: 1435615
Woodworking machines are specialized devices designed for use in workshops to cut, saw, plane, or drill wood for the production of furniture. These machines are typically powered by electric motors or operate mechanically, playing a crucial role in providing precise dimensions and shapes to woodwork projects. Woodworking machinery is extensively used in converting raw wood materials into structural products such as plywood, boards, and beams, which find applications in construction, shipbuilding, furniture production, and other industries.
The main types of products within woodworking machinery include thickness planers, grinding machines, chain or chisel mortisers, routers, wood lathes, and others. Thickness planers are utilized to remove wood from the surface of boards, either to create smooth and flat surfaces or to reduce their thickness. These machines operate based on different principles, including mechanical and electrical, and are available through both online and offline sales channels. Woodworking machinery is employed across various verticals, including the furniture industry, construction sector, and others.
The woodworking machinery market research report is one of a series of new reports from The Business Research Company that provides woodworking machinery market statistics, including woodworking machinery industry global market size, regional shares, competitors with a woodworking machinery market share, detailed woodworking machinery market segments, market trends and opportunities, and any further data you may need to thrive in the woodworking machinery industry. This woodworking machinery global market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The woodworking machinery market size has grown strongly in recent years. It will grow from $29.29 billion in 2023 to $31.87 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%. The expansion observed in the historical period can be attributed to factors such as the construction and real estate boom, demand in furniture manufacturing, growth in wood processing industries, the significance of craftsmanship and artisanal woodwork, and trends in renovation and remodeling.
The woodworking machinery market size is expected to see strong growth in the next few years. It will grow to $43.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%. The anticipated growth in the forecast period can be attributed to the increasing number of global construction projects, advancements in furniture designs, the integration of technology, the adoption of green building practices, and the expected global economic recovery. Noteworthy trends expected in the forecast period include innovations in wood finishing technologies, the digitalization of design and production processes, trends towards customization and personalization, the integration of augmented reality (AR) for training and design purposes, and a shift towards compact and space-efficient machines.
The anticipated expansion of the construction industry is set to drive the growth of the woodworking machinery market in the foreseeable future. The construction industry encompasses the planning, design, development, and construction of structures and infrastructure. Woodworking machinery plays a pivotal role in construction activities, enabling precision shaping, cutting, and assembling of wood components. This facilitates the production of doors, windows, furniture, and other architectural elements crucial for building structures. In the U.S., for example, it is reported that an estimated 1,595,100 housing units were initiated in 2021, marking a 15.6% increase from 1,379,600 in 2020. Therefore, the ongoing expansion in the construction sector is a key driver of the woodworking machinery market.
The upsurge in infrastructure development is expected to further fuel the growth of the woodworking machinery market. Infrastructure development involves the planning, design, construction, and maintenance of essential physical structures and systems supporting society, regions, or industries. Woodworking machinery is integral to infrastructure projects, contributing to the creation of components such as formwork, scaffolding, and architectural elements. Precision cutting, shaping, and assembly of wooden materials are facilitated by these machines, enhancing the construction of durable and customized structures. Notably, the United States has taken a significant step towards infrastructure improvement with the $1.2 trillion Infrastructure Investment and Jobs Act (IIJA) in November 2021. The IIJA is set to invest $550 billion over the next decade to enhance various aspects of infrastructure, including roads, bridges, airports, railroads, clean water access, and broadband internet. Hence, the surge in infrastructure development is a significant driver for the woodworking machinery market.
Major companies in the woodworking machinery sector are focusing on developing innovative products such as CNC machines. CNC (Computer Numerical Control) machines are automated manufacturing devices utilizing computerized systems to control precise machining operations on various materials. For instance, Comeva, a Spain-based woodworking machinery company, launched the NICRON 5X CNC machines in November 2022. These machines are designed for medium and large companies seeking enhanced productivity, offering precision and efficiency for applications such as door machining, cutting and machining boards, and versatile woodworking tasks.
A strategy employed by major woodworking machinery companies involves the development of new products such as angle grinders to enhance competitiveness. Angle grinders, handheld power tools used for grinding, cutting, and polishing, are among the innovative products introduced by companies such as Robert Bosch GmbH. In January 2023, Bosch launched the GWS 800 Professional angle grinder, featuring a powerful 800W motor, lightweight ergonomic design, and specialized features catering to the Indian market. This product is designed to provide superior grinding and cutting experiences, considering the average palm size of an Indian user for increased comfort and reduced fatigue during overhead applications. Additionally, features such as a metal flange and high-quality carbon brush contribute to durability and ease of maintenance across various applications.
Major companies operating in the woodworking machinery market report are Durr Systems GmbH & Co. KG, MSC Industrial Supply Co., Robland Corporation, Biesse Group S.p.A., SCM Group SPA, Michael Weinig AG, SawStop, IMA Schelling Group GmbH, Altendorf GmbH & Co. KG, Grizzly Industrial Inc., HOMAG Group AG, Linze Woodworking Machinery Co. Ltd., Gongyou Group Co. Ltd., JPW Industries Inc., Laguna Tools, Felder Group, Thermwood Corporation, Macrodyne Technologies Inc., Bishop-Wisecarver Inc., Delta Power Equipment Corporation, Cantek America, Hermance Machine Company, Oliver Machinery Co. Ltd., MiniMax S.r.l., Martin Woodworking Machines GmbH, JET Tools, Paolino Bacci S.p.A., Otto Martin Maschinenbau GmbH & Co. KG, Holytek Industrial Corp., Cheng Kuang Machinery Co. Ltd., Rilesa S.r.l., KTCC Woodworking Machinery Co. Ltd., Rojek Woodworking Machinery Inc., Vigano Mario S.r.l., Daltons Wadkin Ltd., Woodstock International Inc.
Asia-Pacific was the largest region in the woodworking machinery market in 2023. North America was the second-largest market in the woodworking machinery market share. The regions covered in the woodworking machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the woodworking machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The woodworking machinery market consists of sales of surface/thickness planer, tenoning machine, chain/chisel mortiser, jig saw, grinder/grinding machine, and nail gun. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Woodworking Machinery Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on woodworking machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for woodworking machinery ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The woodworking machinery market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.