Global Woodworking Machines Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
“Global Woodworking Machines Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2028” is a recent report generated by MarketResearch.biz. the global woodworking machines market is segmented on the basis of product type, sales channel, end-use industry, and region.
Global Woodworking Machines Market: Overview
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 of woodworking is expected to increase in the forecast period.
Global 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 from power tools and the introduction of CNC technology, along with robotic woodworking machines are some another factors anticipated to bolster 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, high initial cost of the machines may hamper demand for the products and restrain growth of the global market over the forecast period. In addition, declining woods supply and increasing timber prices may affect adoption of target product in the future.
Latest trend observed in the market is that, manufacturers are focusing on using IoT in woodworking machines to connect 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.
Global Woodworking Machines Market: Segment Analysis
Among the product type segments, the saws segment is expected to account for significant revenue share in the global market.
Among the sales channel segments, the online segment is estimated to account for 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.
Global 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 Asia Pacific is expected to account for second-highest market share, owing to increasing constructional projects and 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 high focus towards modernizing/renovating the infrastructure and reducing the overall wastage are expected to propel growth of the target market over the next 10 years.
Global 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
Particular Scope Region
- North America
- Rest of Europe
- Asia Pacific
- South Korea
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- South Africa
- Rest of Middle East and Africa
Actual Year 2019 Estimated Year 2020 Forecast Period 2020–2029 Revenue in US$
- 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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