Portland, OR, Aug. 09, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global woodworking tools market garnered revenue worth $8.95 billion in 2021, and is predicted to hit $13.30 billion by 2031, registering a CAGR of 3.9% from 2022 to 2031. The market research study provides a detailed analysis of changing industry trends, top-most segments, value chain analysis, key investment business scenarios, regional space, and competitive space. The study is a key information source for giant players, entrepreneurs, shareholders, and owners in generating new strategies for the future and taking steps to enhance their market position. The report displays an in-depth quantitative analysis of the market from 2022 to 2031 and guides investors in allocating funds to the rapidly evolving industry.
Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $8.95 Billion |
| Market Size in 2031 | $13.30 Billion |
| CAGR | 3.9% |
| No. of Pages in Report | 222 |
| Segments Covered | Type, Distribution Channel, Operation, End User, and Region |
| Drivers | Favorable features such as low cost and durability of woodworking tools. |
| Launching of woodworking tools with insulated layers that protect users from electric shocks along with providing handle grips. | |
| Thriving residential construction activities in Brazil, China, and India have resulted in massive demand for woodworking tools such as cable cutters, hammers, and screwdrivers. | |
| Opportunities | Increase in sale of woodworking tools to professionals and individuals for new construction and maintenance in automotive, construction, and oil & gas industries. |
| Restraints | Growing popularity of cordless power tools as the substitute for woodworking tools. |
Download Sample PDF (222 Pages with More Insight): https://www.alliedmarketresearch.com/request-sample/17401
Covid-19 Scenario
- The COVID-19 pandemic severely impacted the expansion of the global woodworking tools market, owing to reduction in the production activities of equipment that is utilized for manufacturing woodworking tools.
- Halting of logistics services led to a reduction in the sale of woodworking tools during the COVID-19 pandemic, and this seriously affected the global market expansion.
The report offers detailed segmentation of the global woodworking tools market based on the type, distribution channel, operation, end user, and region. It provides an in-depth analysis of every segment and sub-segment in tables and figures, through which, consumers can derive a conclusion about market trends and insights. The market report analysis aids organizations, investors, and entrepreneurs in understanding which sub-segments are to be tapped for achieving huge growth in the years ahead.
Get detailed COVID-19 impact analysis on the Woodworking Tools Market Request Here
Based on the distribution channel, the offline segment contributed the largest market share in 2021, accounting for nearly three-fourths of the overall share of the global woodworking tools market. Moreover, this segment is predicted to retain its leading position during the forecast timespan. However, the online segment is set to record the fastest CAGR of nearly 5.9% from 2022 to 2031.
Based on operation, the powered segment held the largest share in 2021, contributing more than half of the overall share of the global woodworking tools market. Moreover, this segment is predicted to account for the highest market share by 2031. In addition, the powered segment is also anticipated to record the highest growth with a CAGR of nearly 4.6% during the forecast timeline. The report also provides an overall analysis of segments such as the manual.
Based on the end user, the professional segment held the largest share in 2021, contributing more than two-thirds of the overall share of the global woodworking tools market. Moreover, this segment is set to retain its domination during the forecast timeframe. However, the DIY segment is projected to register the highest CAGR of nearly 4.8% from 2022 to 2031.
Based on region, the Asia-Pacific contributed towards the highest market share in 2021, accounting for nearly two-fifths of the global woodworking tools market. Moreover, the Asia-Pacific is predicted to contribute majorly toward the global market share in 2031. However, the LAMEA woodworking tools market is also anticipated to register the highest CAGR of 6.4% during the forecast period. The research also analyzes regions including Europe and North America.
Schedule a FREE Consultation Call with Our Analysts/Industry Experts to Find Solution for Your Business @ https://www.alliedmarketresearch.com/connect-to-analyst/17401
Players:
Leading players in the global woodworking tools market analyzed in the research include ARAS Corporation, AVEFLOR, Con-Tech International, Siemens AG, Custom Manufacturing Corporation, Custom Mfg. Corp., Promega Corporation, Dassault Systems, DB Custom Manufacturing, Parametric Technology Corporation Inc., Monroe Engineering Products, DM&E, Hexagon AB, MetalTek, Micro-Mechanics, and Thomas Swan.
The report evaluates these major participants in the global woodworking tools industry. These participants have executed a slew of key business strategies such as the expansion of regional and customer base, product development, strategic collaborations, and joint ventures for expanding product widths in the global markets. The market research report supports the performance monitoring of each segment, positioning of each product in respective segments, and the impact of new technology and product launches on the overall market size.
Avenue Library Subscription | Request for 14 days free trial of before buying: https://www.alliedmarketresearch.com/avenueTrial
Get more information: https://www.alliedmarketresearch.com/library-access
Similar Reports:
Hand and Power Tools Market - Global Opportunity Analysis and Industry Forecast, 2022-2029
Power Drills Market - Global Opportunity Analysis and Industry Forecast, 2021–2030
Auger Drilling Market: Global Opportunity Analysis and Industry Forecast, 2022-2029
Pneumatic Hammers Market - Global Opportunity Analysis and Industry Forecast, 2021-2030
Street Furniture Market - Global Opportunity Analysis and Industry Forecast, 2021–2028
About Allied Market Research:
Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
Contact us:
David Correa
5933 NE Win Sivers Drive
#205, Portland, OR 97220
United States
Toll Free (USA/Canada): +1-800-792-5285,
UK: +44-845-528-1300
Hong Kong: +852-301-84916
India (Pune): +91-20-66346060
Fax: +1-855-550-5975
help@alliedmarketresearch.com
Web: https://www.alliedmarketresearch.com
Follow Us on | Facebook | Twitter | LinkedIn
