Global Wood Moisture Meter Market By Product Type (Pin Meter, Pinless Meter), By Application (Flooring, Woodworking Industrial & Mill and Others) and By Region - Global Forecast 2030

Global Wood Moisture Meter Market Overview:

The Global Wood Moisture Meter Market was valued at UЅD $390.1 Мn in 2020 and is projected to achieve a valuation of UЅD $686.4 Мn by 2030, at a САGR of 7.0%.

A wood moisture meter is an essential instrument used in many industries to accurately detect the moisture content of a given material. This device scale functions between the range of 5-40%, and works on the principle of electrical resistance, as moisture conducts electricity well and dry wood acts as an effective insulator.

Global Wood Moisture Meter Market Dynamics:

Common building materials such as concrete and wood must possess optimum moisture levels to ensure that the integrity of a given structure is not compromised, as well as the steady expansion of the construction industry, is some of the primary factors that are anticipated to continue to fuel the revenue growth of the global wood moisture meter market in the coming years.

Moreover, the growing demand for quality interior design, including furniture and flooring, especially in emerging economies, is another major factor that is expected to further complement opportunities for market growth in the near future.

Furthermore, the increasing prominence of e-commerce retailers as a result of the numerous benefits that are offered to consumers who make their purchases online is also a primary factor that is expected to further augment the revenue growth of the global wood moisture meter market in the foreseeable future.

However, in light of the recent COVID-19 outbreak, the operations of numerous industries have either been temporarily halted or are functioning with a minimal workforce due to enforced lockdowns and imposed restrictions by respective governing bodies. The global wood moisture meter market is no different, and this factor is anticipated to have a significantly negative impact on the revenue growth of this industry.

In addition, the high reliance on physical techniques to determine wood moisture, as well as the lack of awareness concerning the use and effectiveness of wood moisture meters is another factor that may restrain the revenue growth of this global industry in the near future.

Nevertheless, increasing investments by key industry players towards the development of improved and more effective moisture meters is a factor that is expected to increase the demand for these products, thereby boosting opportunities for revenue growth in the years to come.

Segmentation of the Global Wood Moisture Meter Market is as follows:

In terms of product type, the pin meter segment accounted for the maximum number of revenue shares of the global wood moisture meter market in 2020, and this segment is expected to continue doing so over the next decade. However, the pinless meter segment is anticipated to index the highest CAGR over the forecast period.

On the basis of application, the industrial & mill segment accounted for the maximum number of revenue shares of the global wood moisture meter market in 2020, and this segment is slated to continue doing so over the next 10 years. However, the woodworking segment is anticipated to register the highest CAGR over the forecast period.

Regional Segmentation and Analysis:

North America accounted for the maximum number of revenue shares of the global wood moisture meter market in 2020 and is indicative of retaining its respective market position over the next decade. The markets in Europe accounted for the second-highest number of revenue shares in 2020, and these markets are also anticipated to index a high CAGR over the course of the forecast period.

Segmentation of the Global Wood Moisture Meter Market:

Segmentation by Product Type:

• Pin Meter
• Pinless Meter

Segmentation by Application:

• Flooring
• Woodworking
• Industrial & Mill
• Other Applications

Segmentation by Regions:

• North America
• Europe
• APAC
• South America
• MEA