Woodworking Machinery Sales to Hit US$ 8 Billion by 2033; Owing to Increasing In Demand for Wooden Furniture: Fact.MR Analysis
Increasing demand for portable wooden furniture from residential and commercial structure owners is driving the demand for woodworking machines.
Dublin , March 23, 2023 (GLOBE NEWSWIRE) — As per the latest estimates by Fact.MR, a market research and competitive intelligence provider, the global woodworking machinery market is valued at US$ 5.2 billion in 2023 and is forecasted to reach US$ 8 billion by the end of 2033.
Machinery used in woodworking is mostly to give shapes and dimensions to wood. Woodworking devices are employed in several industries, including construction, shipbuilding, and locomotives. Woodworking tools are utilized in modestly-sized businesses that specialize in producing wooden goods. The vast majority of woodworking machines are powered by electricity, and some are powered by hydraulics. The size of the machines varies depending on what purpose they are serving. Jointers, saws, shapers, routers, and other tools are a few examples of woodworking equipment.
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Residential and commercial structure owners have increased their spending on furnishing products in the wooden category as a result of enhanced brand consciousness and ever-changing interior design trends. Woodworking machines are used by furniture producers to provide highly developed wooden furniture to buyers. In addition, the growing preference towards automation of industrial units to enhance worker productivity and boost overall efficiency is also predicted to escalate the need for woodworking machines in the coming 10 years.
The necessity for highly specialized woodworking machines in the production process has developed as the focus on providing flexibility and highly customized wooden products has expanded. This is opening the door for the automation conventional woodworking equipment. Automatic woodworking machines have been launched that are more user-friendly and are gaining immense popularity in the market.
Key Takeaways from Market Study
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The global woodworking machinery market stands at US$ 5.2 billion in 2023.
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Worldwide sales of woodworking machines are predicted to increase at a CAGR of 4.5{833736ef333566f6502cdebaaa8c1006aee7f6f644158cfddacfa746ee20c4df} from 2023 to 2033.
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The woodworking machinery market in Canada is predicted to expand at a CAGR of 3.5{833736ef333566f6502cdebaaa8c1006aee7f6f644158cfddacfa746ee20c4df} during the forecast period.
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Demand for planer machines is expected to rise at a CAGR of 5{833736ef333566f6502cdebaaa8c1006aee7f6f644158cfddacfa746ee20c4df} during the next 10 years.
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China’s market is set to progress at a CAGR of 7{833736ef333566f6502cdebaaa8c1006aee7f6f644158cfddacfa746ee20c4df} through 2033.
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Competitive Analysis
Leading manufacturers of woodworking machinery are introducing cutting-edge, high-performance systems to bolster their product lines and gain an advantage over their market rivals.
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Oliver Machinery Company released the ‘10044 12-1/2’ benchtop planer in February 2021. It uses a BYRD Shelix cutter head that is manufactured in the United States. It has a magnetic switch and a commonly used ‘15 Amp 2HP 115V’ motor with thermal overload safety.
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Industry-leading woodworking equipment was displayed in LIGNA at Hanover, Germany, in April 2019 by MARTIN Woodworking Machines Corp. A commercial exhibition for woodworking and wood processing is called LIGNA.
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Crescent, a premium tool brand from Apex Tool Group, revealed the introduction of its latest collection of circular saw blades in September 2021. These new blades are made to cut more quickly and endure longer even in demanding end-use situations. FineCut™ Finishing Blades, NailSlicer™ Framing Blades, and SteelSlicer™ Metal Blades are some of the newly launched products.
Key Companies Profiled
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Andritz AG
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Biesse SpA
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Durr AG
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Gala Gar SL
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Hitachi Koki Co., Ltd.
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IMA Schelling Group GmbH
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Jji Kae Enterprise Co., Ltd.
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Makita Corporation
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Makor Srl
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Metabowerke GmbH
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Michael Weinig AG
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Minda Industrieanlagen GmbH (MINDA Group)
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Robert Bosch GmbH
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SCM Group S.p.A.
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Sorma Group
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VOLLMER WERKE Maschinenfabrik GmbH
Key Segments of Woodworking Machinery Industry Research
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By Product:
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Lathes
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Planers
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Saws
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Grinding Machines
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By Operating Type:
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By Application:
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Furniture
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Construction
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Shipbuilding
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Locomotives
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By Region:
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North America
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Latin America
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Europe
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East Asia
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South Asia & Oceania
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MEA
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More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global woodworking machinery market, presenting historical demand data (2018 to 2022) and forecast statistics for the period (2023 to 2033).
The study divulges essential insights on the market based on product (lathes, planers, saws, grinding machines), operating type (mechanical, electrical), and application (furniture, construction, shipbuilding, locomotives), across five major regions of the world (North America, Europe, Asia Pacific, Latin America, and MEA).
Key Questions Covered in the Woodworking Machinery Market Report
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What will be the estimated size of the Market in 2023?
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At what rate will the global Woodworking Machinery sales grow until 2033?
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Which are the factors hampering the Woodworking Machinery demand?
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Which region will spearhead the growth in the global industry during 2023-2033?
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Which are the factors driving sales in the Woodworking Machinery Market during the forecast period?
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