Global Woodworking Machines Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
The Woodworking Machines Market is segmented on the basis of product type, sales channel, end-use industry, and region.
Woodworking Machines Market: Overview
The Woodworking Machines Market was valued at $21.40 million in 2021 & is projected to reach $54.52 million by 2027. It is expected to grow at a 12.4% CAGR between 2021 and 2027.
Woodworking machines are electric-powered machines designed for wood processing operation. These machines are extensively used in various industrial verticals to cut, shape, process, and assemble wood into purposeful final products.
These machines are used in different applications including home construction for windows, doors, stairs, and others. Moreover, even in marines and locomotives, the demand for woodworking is expected to increase in the forecast period.
Woodworking Machines Market: Dynamics
Flourishing construction industry, along with the preference shifted towards aesthetic look are some major factors expected to drive growth of the target market.
In addition, increasing demand for power tools and the introduction of CNC technology, along with robotic woodworking machines are some other factors anticipated to bolster the growth of the target market.
Moreover, increasing R&D activities by major players, development of advanced machines, and technological up-gradation of current products, are expected to create new opportunities for growth of the global market over the forecast period.
However, the high initial cost of the machines may hamper demand for the products and restrain the growth of the global market over the forecast period.
In addition, declining wood supply and increasing timber prices may affect the adoption of the target products in the future.
The latest trend observed in the market is that manufacturers are focusing on using IoT in woodworking machines to connect to the internet and communication between objects and other internet-enabled devices.
In addition, manufacturers are aiming on producing highly personalized woodworking machinery, along with ensuring flexibility, which are expected to create revenue opportunities for players in target market.
Woodworking Machines Market: Segment Analysis
Among the product type segments, the saws segment is expected to account for a significant revenue share in the global market.
Among the sales channel segments, the online segment is estimated to account for a major revenue share and is expected to maintain its dominance over the forecast period.
Among the end-use industry segments, the craft & furniture segment is expected to hold significant revenue share in the global market over the forecast period.
Woodworking Machines Market: Regional Analysis
North America woodworking machines market is expected to account for the highest share in terms of revenue as compared to other regions.
This can be attributed to significant growth is the use of Internet of Things (IoT) in manufacturing units in countries in the region.
Furthermore, the market in the Asia Pacific is expected to account for the second-highest market share, owing to increasing construction projects and the increasing adoption of advanced machines in countries in the region.
In addition, urbanization and industrialization in various developing countries are expected to trigger demand for residential and commercial construction activities.
In addition, increasing investments by major players for automation technologies, coupled with a high focus on modernizing/renovating the infrastructure and reducing the overall wastage is expected to propel the growth of the target market over the next 10 years.
Woodworking Machines Market Segmentation:
Segmentation by Product Type:
- Shapers & Planers
- Wood Lathes
- Drills and Borings
Segmentation by Sales Channel:
- Online Retail
- Retail Stores
Segmentation by End-use Industry:
- Craft & Furniture
- Marine & Locomotive
Segmentation by Region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Durr AG
- SCM Group
- Woodworking Machine – Oliver Machinery
- Weinig Group
- Gongyou Group
- Biesse Group
- IMA-Schelling Group
- KTCC Woodworking Machinery
- Holytek Industrial Corporation
- Cantek America Inc.
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