Woodworking Machinery Market Size - By Type (Lathe, Planer, Saw, Grinding Machines), By Application (Furniture, Construction), Growth Drivers, Regional Insights & Forecast, 2023 - 2032
Published Date: July - 2024 | Publisher: MRA | No of Pages: 240 | Industry: Construction | Format: Report available in PDF / Excel Format
View Details Buy Now 2890 Download Sample Ask for Discount Request CustomizationWoodworking Machinery Market Size - By Type (Lathe, Planer, Saw, Grinding Machines), By Application (Furniture, Construction), Growth Drivers, Regional Insights & Forecast, 2023 - 2032
Woodworking Machinery Market Size
Woodworking Machinery Market size was valued at USD 4.9 billion in 2022 and is projected to register a CAGR of over 4.5% between 2023 and 2032. As the construction sector experiences growth, there is an increased demand for woodworking machinery to produce materials such as doors, windows, cabinets, and other wooden components used in building and interior design.
To get key market trends
According to Invest India, the construction sector in the country could reach an estimated $1.4 Tn by 2025. Urbanization and infrastructure development also play a role in driving this demand. As per government estimates, by the year 2030, it is anticipated that about 40% of India's population will be residing in urban areas, an increase from the current 33%. This urbanization trend is expected to generate a demand for an additional 25 million middle-range and affordable housing units.
| Report Attribute | Details |
|---|---|
| Base Year | 2022 |
| Woodworking Machinery Market Size in 2022 | USD 4.9 Billion |
| Forecast Period | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR | 4.5% |
| 2032 Value Projection | USD 7.7 Billion |
| Historical Data for | 2018 - 2022 |
| No. of Pages | 200 |
| Tables, Charts & Figures | 200 |
| Segments covered | Type, Application |
| Growth Drivers |
|
| Pitfalls & Challenges |
|
What are the growth opportunities in this market?
Purchasing and setting up woodworking machinery, especially high-tech ones like CNC routers and computer-controlled saws, can put a big dent in your wallet. Small and medium-sized woodworking businesses often struggle to come up with that kind of money upfront. These high start-up costs can make it tough for new woodworking businesses to get off the ground and can limit the ability of established ones to improve their equipment. Another challenge is finding workers who know how to handle these advanced machines. There aren't as many people with these skills, so it can lead to lower production and efficiency. It can also drive up labor costs because skilled workers often command higher salaries.
Moreover, automation and technology have been transforming the woodworking industry. Advancements in CNC (Computer Numerical Control) technology and robotics have improved the precision, efficiency, and productivity of woodworking processes. Woodworking businesses are investing in modern machinery to remain competitive and meet the growing demand for customized, high-quality wood products.
COVID-19 Impact
The COVID-19 pandemic significantly impacted the woodworking machinery market. Lockdowns and supply chain disruptions disrupted production, causing delays in machinery delivery and installation. Many woodworking businesses faced reduced demand due to economic uncertainties and lockdown measures, leading to postponed investments in new machinery. However, there were notable exceptionssome segments, like home renovation, saw increased demand, prompting businesses to invest in upgrading their equipment to meet surging orders. Overall, the pandemic underscored the need for resilience and flexibility in the woodworking machinery sector, prompting some companies to explore remote monitoring and automation solutions to mitigate future disruptions.
Woodworking Machinery Market Trends
Industry 4.0, which focuses on the integration of digital technologies into manufacturing processes, has been gradually making its way into the woodworking machinery sector. This trend involves the use of sensors, data analytics, Internet of Things (IoT) devices, and automation to optimize production, enhance quality control, and reduce downtime. In the woodworking machinery market, this may result in smarter and more connected woodworking equipment that can monitor and adjust settings in real-time, leading to increased efficiency, reduced waste, and predictive maintenance capabilities.
Woodworking Machinery Market Analysis
Learn more about the key segments shaping this market
The lathe market is booming! In 2022, it was worth a whopping 1.5 billion USD. And it's only expected to grow at a steady pace of 4.5% every year until 2032. Why the sudden surge? People are getting really into woodworking as a hobby. They're ditching the store-bought stuff and making their own custom wood pieces, from bowls to furniture legs, with the help of lathes. Plus, there's a growing demand for handcrafted wood products. We're talking about unique, sustainable goods that add a special touch to homes. Think handmade wooden kitchenware and home decor. These items are in high demand, and that's driving up the need for lathes to shape and refine them. So, if you're in the woodworking lathe business, this is great news!
Learn more about the key segments shaping this market
In the world of furniture-making, fancy machines called woodworking machinery play a huge role. These machines make up about 62% of the market right now. By 2032, they're expected to be worth more than $4.5 billion! Why is there such a big demand for these machines in the furniture industry? Well, for starters, people want their furniture to be fancy and one-of-a-kind. And to make that happen, you need machines that can cut and shape wood with precision. Plus, furniture factories are getting smarter. They're using machines that can do everything on their own, making things faster and better. And as people keep wanting furniture that's unique and well-made, the demand for woodworking machinery in the furniture industry is only going to keep growing.
Looking for region specific data?
Europe dominated the global woodworking machinery market with a share of around 30% in 2022. One key driver is the region's strong focus on sustainability and environmental regulations, leading manufacturers to invest in modern machinery that reduces waste and energy consumption. European furniture makers are increasingly using state-of-the-art CNC machines for precision and efficiency while adhering to strict sustainability standards. Additionally, the growing demand for customized, high-quality wood products in sectors like interior design and construction has boosted the adoption of advanced woodworking machinery, contributing to the industry's growth in Europe.
Woodworking Machinery Market Share
The major players operating in the woodworking machinery market are
- Homag Group
- SCM Group
- Felder Group
- Martin Woodworking Machines
- Weinig Group
- MiniMax
- Powermatic
- Robland
- Biesse Group
- Grizzly Industrial
- Altendorf Group
- JET Tools
- Laguna Tools
- Cantek America
Woodworking Machinery Industry News
- In August 2023, Felder Group USA, a prominent woodworking machinery manufacturer, unveiled a fresh dealership program. This initiative is designed to offer opportunities to potential dealers across the United States, granting them access to market and sell Felder Group's premium woodworking machinery lineup.
This market research report on woodworking machinery includes in-depth coverage of the industry with estimates & forecast in terms of revenue (USD Billion) from 2018 to 2032, for the following segments
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Market, By Type
- Lathe
- Planer
- Saw
- Grinding Machines
- Others
Market, By Application
- Furniture
- Construction
The above information is provided for the following regions and countries
- North America
- U.S.
- Canada
- Europe
- UK
- Germany
- France
- Italy
- Spain
- Russia
- Asia Pacific
- China
- India
- Japan
- South Korea
- Latin America
- Brazil
- Mexico
- Argentina
- MEA
- Saudi Arabia
- UAE
- South Africa
Table of Content
Report Content
Chapter 1 Methodology & Scope
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast calculation
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Woodworking Machinery Market 3600 synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total Addressable Market (TAM), 2023 - 2032
2.3 Regional trends
2.4 Type trends
2.5 Application trends
Chapter 3 Woodworking Machinery Market Industry Insights
3.1 Impact of COVID-19
3.2 Impact of the Russia-Ukraine war
3.3 Industry ecosystem analysis
3.4 Vendor matrix
3.5 Profit margin analysis
3.6 Technology & innovation landscape
3.7 Patent analysis
3.8 Key news and initiatives
3.8.1 Partnership/Collaboration
3.8.2 Merger/Acquisition
3.8.3 Investment
3.8.4 Product launch & innovation
3.9 Regulatory landscape
3.10 Impact forces
3.10.1 Growth drivers
3.10.1.1 The demand for furniture, both residential and commercial, significantly impacts the woodworking machinery market.
3.10.1.2 Rise in Demand for Prefabricated Wood Houses to Support Growth
3.10.1.3 Increasing awareness of environmental issues has led to the adoption of sustainable practices in the woodworking industry
3.10.1.4 Robust housing market in North America & Europe
3.10.2 Industry pitfalls & challenges
3.10.2.1 Lack of skilled labour
3.11 Growth potential analysis
3.12 Porter’s analysis
3.13 PESTEL analysis
Chapter 4 Competitive Landscape, 2022
4.1 Introduction
4.2 Company market share, 2022
4.3 Competitive analysis of major market players, 2022
4.4 Competitive positioning matrix, 2022
4.5 Strategic outlook matrix, 2022
Chapter 5 Woodworking Machinery Market Estimates & Forecast, By Type (Revenue)
5.1 Key trends, By Type
5.2 Lathe
5.3 Planer
5.4 Saw
5.5 Grinding Machines
5.6 Others
Chapter 6 Woodworking Machinery Market Estimates & Forecast, By Application (Revenue)
6.1 Key trends, By Application
6.2 Furniture
6.3 Construction
Chapter 7 Woodworking Machinery Market Estimates & Forecast, By Region (Revenue)
7.1 Key trends, by region
7.2 North America
7.2.1 U.S.
7.2.2 Canada
7.3 Europe
7.3.1 UK
7.3.2 Germany
7.3.3 France
7.3.4 Italy
7.3.5 Spain
7.3.6 Russia
7.4 Asia Pacific
7.4.1 China
7.4.2 India
7.4.3 Japan
7.4.4 South Korea
7.5 Latin America
7.5.1 Brazil
7.5.2 Mexico
7.5.3 Argentina
7.6 MEA
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 South Africa
Chapter 8 Company Profiles
8.1 Biesse Group
8.2 SCM Group
8.3 Homag Group
8.4 Altendorf Group
8.5 Weinig Group
8.6 Felder Group
8.7 Martin Woodworking Machines
8.8 MiniMax
8.9 Robland
8.10 Cantek America
8.11 Grizzly Industrial
8.12 Laguna Tools
8.13 Powermatic
8.14 JET Tools
- Homag Group
- SCM Group
- Felder Group
- Martin Woodworking Machines
- Weinig Group
- MiniMax
- Powermatic
- Robland
- Biesse Group
- Grizzly Industrial
- Altendorf Group
- JET Tools
- Laguna Tools
- Cantek America
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