Pune, India, Oct. 20, 2021 (GLOBE NEWSWIRE) -- The global woodworking machinery market size is expected to experience exponential growth by reaching USD 6.05 billion by 2028 while exhibiting a CAGR of 3.9% between 2021 and 2028.This information is published by Fortune Business Insights in its latest report, titled, “Woodworking Machinery Market, 2021-2028.” The report further mentions that the market stood at USD 4.53 billion in 2020. Factors such as the increasing adoption of precision engineering is expected to boost the adoption of advanced woodworking machinery globally. For instance, in 2019, Biesse Group automated its 5-axis heads, a woodworking machine in its production line, to significantly reduce travel time and improve the machine precision on assembly lines.
Request To Sample PDF Brochure:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/woodworking-machinery-market-105106
List of the Companies Profiled in the Global Market:
- Biesse Group (Italy)
- HOLYTEK INDUSTRIAL CORP. (Taiwan)
- SCM Group (Italy)
- Dürr Group (Germany)
- Gongyou Group Co., Ltd. (China)
- IMA Schelling Group GmbH (Germany)
- Michael Weinig AG (Germany)
- CKM (Taiwan)
- Cantek America Inc. (U.S.)
- KTCC WOODWORKING MACHINERY
- Oliver Machinery Company (U.S.)
- RS WOOD S.R.L. (Italy)
- SOCOMEC S.R.L. (Italy)
- Solidea Srl (Italy)
- Nihar Industries (India)
- Leabon Machinery (China)
- SOSN (China)
- A L Dalton Ltd. (U.K.)
Report Scope & Segmentation -
| Report Coverage | Details |
| Forecast Period | 2021-2028 |
| Forecast Period 2021 to 2028 CAGR | 3.9 % |
| 2028 Value Projection | USD 6.05 Billion |
| Base Year | 2020 |
| Market Size in 2020 | USD 4.53 Billion |
| Historical Data for | 2017-2019 |
| No. of Pages | 120 |
| Segments covered | Type; Application; and Region |
| Growth Drivers | Increasing Adoption of Precise Engineering to Aid Market Growth |
| Pitfalls & Challenges | Health Hazards in Machinery Manufacturing Units is Hampering the Market Growth |
COVID-19 Impact: Market to Exhibit -0.4% CAGR in 2020
According to a survey conducted by the Wood Component Manufacturers Association (WCMA), the impact of the pandemic is likely to be long-term and the manufacturers should be open to explore new product options. This is attributed to the disrupted supply chain, halted or suspended manufacturing activities, and reduced workforce due to the lockdown imposed by several government agencies to curb the spread of the disease. Owing to this, the market is expected to exhibit a CAGR of -0.4% in 2020.
Click here to get the short-term and long-term impact of COVID-19 on this Market.
Please visit: https://www.fortunebusinessinsights.com/woodworking-machinery-market-105106
Market Segmentation:
We have divided the market based on type, application, and region.
On the basis of type, the global market for woodworking machinery is segmented into lathe, planer, saw, and others. Moreover, based on type, the lathe segment is expected to experience exponential growth owing to the increasing demand for CNC lathe machines to speed up manufacturing processes. Based on application, the market is bifurcated into furniture, construction, and others. Lastly based on region, the market is categorized into Europe, the Middle East and Africa, Asia-Pacific, South America, and North America.
What does the Report Include?
The global market for woodworking machinery report included in-depth analysis of the key aspects such as leading companies, product/service types, and leading end-use industries. Besides this, the report offers insights into the market trends and highlights the key industry developments. Additionally, the report encompasses several factors that will impact the market growth in the forthcoming years.
DRIVING FACTORS
Increasing Adoption of Precision Engineering to Favor Growth
The growing demand for high quality and safe products is propelling the manufacturers to adopt advanced manufacturing processes. The companies are focusing on adopting precision engineering to produce quality products in less time. Moreover, this type of manufacturing process reduces human error risk and further leads to reduced overhead costs. For instance, major manufacturers such as IMA Schelling Group GmbHefficiently adopt advanced woodworking machinery processes to offer precision saws and panel saw series. Therefore, the growing adoption of advanced precision engineering is expected to contribute to the global woodworking machinery market growth in the forthcoming years.
REGIONAL INSIGHTS
Europe – The region is expected to hold the largest global woodworking machinery market share in terms of revenue during the forecast period. This is attributable to the presence of established woodworking machinery manufacturers in the region. Europe stood at USD 1.84 billion in 2020.
North America – The market in the region is expected to showcase exponential growth backed by the increasing utilization of timber in the construction industry between 2021 and 2028.
Ask for Customization:https://www.fortunebusinessinsights.com/enquiry/request-sample-pdf/woodworking-machinery-market-105106
COMPETITIVE LANDSCAPE:
Product Innovation by Eminent Companies to Intensify Industry Competition
The global market for woodworking machineryis experiencing considerable competition from the players operating in the market. These players are focusing on developing advanced digitization tools by adopting technologies such as the industrial internet of things (IIoT). Moreover, adoption of strategies such as merger and acquisition, partnership, and facility expansion by other companies to maintain their stronghold is expected to favor the market growth.
Industry Development:
- June 2020 - SCM Group announced the inclusion of dmc system flexible abrasives modular center in its product range for wide belt sanders. The company reports that the modular center includes a hand scraping unit to achieve superior wood manufacturing finishing levels.
Quick Buy – Woodworking Machinery Market: https://www.fortunebusinessinsights.com/checkout-page/105106
Have a Look at Related Research Insights:
Telehandler Market Size, Share & COVID-19 Impact Analysis, By Type (Compact, High Lift, and High Load), By Technology (Hybrid, Electric, and Combustion), By Lift Height (Less than 5 meters, 5-15 meters, and More than 15 meters), By Lift Capacity (Less than 3 tons, 3-10 tons, and More than 10 tons), By End-User (Construction, Forestry, Agriculture, Oil & Gas, Manufacturing, Transport & Logistics, and Power Utilities) and Regional Forecast, 2021-2028
Palletizer Market Size, Share & COVID-19 Impact Analysis, By Technology (Robotic, Low Level or Floor Level and High-Level), By Product Type (Bag, Case, Bag, Pail and Others), By Application (Food & Beverage, Cosmetic & Personal Care, Healthcare & Pharmaceuticals, Others (Chemical, Automotive, etc.) and Geographical Forecasts, 2020-2027
Injection Molding Machine Market Size, Share and COVID-19 Impact Analysis, By Product Type (Plastic, Metal, Rubber, Ceramic, Others), By Machine Type (Electric, Hydraulic, and Hybrid), By Clamping Force (0 - 200 Ton Force, 201 - 500 Ton Force, and Above 500 Ton Force), By End-use Industry (Packaging, Automotive, Electronics and Telecommunication, Healthcare, Infrastructure, Others) and Regional Forecast, 2020-2027
CNC (Computer Numerical Controls) Machine Tools Market Size, Share & COVID-19 Impact Analysis, By Type (Metal Cutting, Metal Forming), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, Others) and Regional Forecast, 2020-2027
Metal Cutting Tools Market Size, Share & COVID-19 Impact Analysis, By Product (Machining Centers, Lathe Machines, Boring Machines, Grinding Machines, Milling Machines, & Others), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, & Others), and Regional Forecast, 2020-2027
About Us:
Fortune Business Insights™ delivers accurate data and innovative corporate analysis, helping organizations of all sizes make appropriate decisions. We tailor novel solutions for our clients, assisting them to address various challenges distinct to their businesses. Our aim is to empower them with holistic market intelligence, providing a granular overview of the market they are operating in.
Contact Us:
Fortune Business Insights™ Pvt. Ltd.
308, Supreme Headquarters,
Survey No. 36, Baner,
Pune-Bangalore Highway,
Pune - 411045, Maharashtra, India.
Phone:
US :+1 424 253 0390
UK : +44 2071 939123
APAC : +91 744 740 1245
Email: sales@fortunebusinessinsights.com
LinkedIn: https://www.linkedin.com/company/fortune-business-insights
Facebook: https://www.facebook.com/FortuneBusinessInsightsPvtLtd
