The market for woodworking machinery is expected to grow from its current value of US$ 5.2 billion in 2023 to US$ 8 billion by the end of 2033. The majority of the time, woodworking machinery is employed to give wood proportions and shapes. Many sectors, such as construction, shipbuilding, and locomotives, use woodworking tools. Small firms that specialize in creating wooden products use woodworking tools. The vast majority of woodworking machines run on electricity, while some also use hydraulics for power. Depending on the function they are performing, the machines’ sizes vary. Woodworking tools include jointers, saws, shapers, routers, and other devices.
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Due to growing brand awareness and constantly shifting interior design trends, owners of residential and commercial buildings have increased their expenditure on wooden furniture. Furniture manufacturers employ woodworking machinery to give customers well-crafted wooden furniture. In addition, it is anticipated that demand for woodworking machines will increase over the next ten years due to the increased preference for industrial units to be automated in order to increase worker productivity and improve overall efficiency.
As the emphasis on delivering flexibility and highly customized wooden goods has increased, the need for highly specialized woodworking machinery in the production process has grown. This allows for the automation of traditional woodworking machinery. Recently, more user-friendly automatic woodworking equipment has been introduced, and they are rapidly gaining market share.
Key Takeaways from the Market Study
- In 2023, the market for woodworking machines will be worth US$5.2 billion.
- From 2023 to 2033, sales of woodworking machines are expected to grow globally at a CAGR of 4.5%.
- During the projected period, it is expected that the Canadian market for woodworking machinery will increase at a CAGR of 3.5%.
- Over the next 10 years, demand for planer machines is anticipated to grow at a CAGR of 5%.
- Through 2033, the Chinese market is anticipated to grow at a CAGR of 7%.
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.
- 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.
- 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.
- 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
- Andritz AG
- Biesse SpA
- Durr AG
- Gala Gar SL
- Hitachi Koki Co., Ltd.
- IMA Schelling Group GmbH
- Jji Kae Enterprise Co., Ltd.
- Makita Corporation
- Makor Srl
- Metabowerke GmbH
- Michael Weinig AG
- Minda Industrieanlagen GmbH (MINDA Group)
- Robert Bosch GmbH
- SCM Group S.p.A.
- Sorma Group
- VOLLMER WERKE Maschinenfabrik GmbH
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Key Segments of Woodworking Machinery Industry Research
- By Product:
- Lathes
- Planers
- Saws
- Grinding Machines
- By Operating Type:
- Mechanical
- Electrical
- By Application:
- Furniture
- Construction
- Shipbuilding
- Locomotives
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia & Oceania
- MEA
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
- What will be the estimated size of the Market in 2023?
- At what rate will the global Woodworking Machinery sales grow until 2033?
- Which are the factors hampering the Woodworking Machinery demand?
- Which region will spearhead the growth in the global industry during 2023-2033?
- Which are the factors driving sales in the Woodworking Machinery Market during the forecast period?
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