Pune, india, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The global woodworking machinery market size was valued at USD 4.72 billion in 2022 and is projected to reach a valuation of USD 4.86 billion in 2023. The market is expected to reach USD 6.80 billion by 2030 with a CAGR of 4.9% during the forecast period. Woodworking machinery refers to processing of wood into various products such as beams, plywood, and boards. Increasing adoption of automated woodworking machines and precise engineering in manufacturing processes is the set to drive the market growth. Fortune Business Insights™ shares this information in its report titled “Woodworking Machinery Market, 2023-2030.”
KEY INDUSTRY DEVELOPMENTS:
August 2022 - SCM Group introduced Autostore, an innovative automated warehouse designed for spare parts. Spanning area of 900m2 and reaching a height of 5.5 meters, the warehouse encompasses 13 storage levels and accommodates 24 thousand modular boxes.
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Report Scope & Segmentation
| Report Coverage | Details |
| Forecast Period | 2023 to 2030 |
| Forecast Period 2023 to 2030 CAGR | 4.9% |
| 2030 Value Projection | USD 6.80 billion |
| Base Year | 2022 |
| Woodworking Machinery Market Share in 2022 | USD 4.72 billion |
| Historical Data for | 2019 to 2021 |
| No. of Pages | 120 |
| Segments covered | By Type, By Application, and By Region |
| Woodworking Machinery Market Growth Drivers | Increasing Adoption of Precise Engineering to Aid Market Growth |
| Accelerated Utilization of Prefabricated Wooden Houses to Propel Market Growth |
COVID-19 Impacts:
North American Industry Faced Serious Impacts Due To Disruptions In Manufacturers And Retail Services
The COVID-19 pandemic significantly impacted industry, manufacturing, and retail of woodworking. The industry in North America faced serious impacts due to disruptions in manufacturers and retail services. The region faced a shutdown by the manufacturers believing a permanent business. The U.K. timber importers halted the orders due to supply chain disruptions.
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Drivers and Restraints:
Increasing Adoption of Precise Engineering to Drive Market Growth
Increasing adoption of precise engineering is anticipated to drive the woodworking machinery market growth. In past years, there has been utilization of CNC machines for precise superior quality of wood products. Additionally, the manufacturers have been emphasizing on customized requirements of wooden products across public and private end-users.
However, health hazards in the manufacturing units of the machinery are expected to hamper the market growth.
Report Coverage:
The report provides a detailed analysis of the top segments and the latest trends in the market. It comprehensively discusses the driving and restraining factors and the impact of COVID-19 on the market. Additionally, it examines the regional developments and the strategies undertaken by the market's key players.
Market Segmentation:
Lathe Segment to Have Highest Share Due to Increasing Number of Working Centers
On the basis of type, the market is divided into lathe, planer, saw, and others. The lathe segment to have the highest market share due to increasing number of working centers for wooden door processing to plane the wood surfaces. The planer segment had the highest CAGR due to increasing adoption of high-efficiency and lightweight planer machines.
Furniture Segment Held Dominant Share Due To Rising Governmental Investments
On the basis of application, the market is classified into construction, furniture, and others. The furniture segment is projected to have the largest share due to rising governmental investments. The construction segment is anticipated to showcase exponential growth owing to increasing disposable income in developing countries.
Based on geography, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
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Regional Analysis:
Europe to Lead the Market Due to Presence of Woodworking Machine Manufacturers
Europe is expected to lead woodworking machinery market share due to the presence of various woodworking machine manufacturers. The market was valued at USD 1.92 billion in 2022 as Germany is one of the leading countries for the market in the region.
North America is expected to witness substantial growth owing to utilization of timber and the adoption of Cross-Laminated Timbers (CLTs) for manufacturing houses and commercial buildings in the U.S. and Canada.
Competitive Landscape:
Product Portfolio Upgrade by the Market Players To Propel Market Growth
The market is dominated by Biesse Group, HOLYTEK INDUSTRIAL CORP., IMA Schelling Group GmbH, SCM Group, Dürr Group, Gongyou Group Co., Ltd., and Oliver Machinery Company. Market players have been upgrading their product range. In June 2020, SCM Group updated its product range by including DMC system, which has flexible abrasives modular center for wide belt sanders. The modular center is equipped with a hand-scraping unit that helps achieve superior finishing levels.
List of the Companies Operating in the 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 (Taiwan)
- Oliver Machinery Company (U.S.)
- RS WOOD S.R.L. (Italy)
- SOCOMEC S.R.L. (Italy)
- Solidea Srl (Italy)
- Nihar Industries (India)
- Zhengzhou Leabon Machinery (China)
- SOSN (China)
- A L Dalton Ltd. (U.K.)
Major Table of Contents:
- Introduction
- Definition, By Segment
- Research Methodology/Approach
- Data Sources
- Executive Summary
- Market Dynamics
- Macro and Micro Economic Indicators
- Drivers, Restraints, Opportunities and Trends
- Impact of COVID-19
- Competition Landscape
- Business Strategies Adopted by Key Players
- Consolidated SWOT Analysis of Key Players
- Global Woodworking Machinery Key Players Market Share/Ranking, 2022
- Global Woodworking Machinery Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Type (USD)
- Lathe
- Planer
- Saw
- Others (Radial Drills, Grinder, Jointer, Sanders, etc.)
- By Application (USD)
- Furniture
- Construction
- Others (Shipbuilding, etc.)
- By Region (USD)
- North America
- South America
- Europe
- Middle East & Africa
- Asia Pacific
- North America Woodworking Machinery Market Size Estimates and Forecasts, By Segments, 2019-2030
- Key Findings
- By Type (USD)
- Lathe
- Planer
- Saw
- Others (Radial Drills, Grinder, Jointer, Sanders, etc.)
- By Application (USD)
- Furniture
- Construction
- Others (Shipbuilding, etc.)
- By Country (USD)
- United States
- By Type
- Lathe
- Planer
- Saw
- Others (Radial Drills, Grinder, Jointer, Sanders, etc.)
- By Type
- Canada
- By Type
- Lathe
- Planer
- Saw
- Others (Radial Drills, Grinder, Jointer, Sanders, etc.)
- By Type
- Mexico
- By Type
- Lathe
- Planer
- Saw
- Others (Radial Drills, Grinder, Jointer, Sanders, etc.)
- By Type
- United States
TOC Continued…!
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