Global Woodworking Machines Market 2021 (Includes Business Impact of COVID-19)

                                          
Report updated on 11th September, 2021: Global Woodworking Machines Market 2021 (Includes Business Impact of COVID-19)
Global Woodworking Machines Market Analysis Trends, Applications, Analysis, Growth, and Forecast to 2030 is a recent report generated by Trusted Business Insights. the global woodworking machines market is segmented on the basis of product type, sales channel, end-use industry, and region.
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The global Woodworking Machines market size was valued at USD$679.38 billion in 2020 and is projected to reach USD$924.62 billion by 2030, and is anticipated to expand at a CAGR of 3.13% over the forecast period from 2020 to 2030.


Global Woodworking Machines Market: Overview


Woodworking machines are electric powered machines designed for wood processing operation. These machines are extensively used in various industrial verticals to cut, shape, process, and assemble wood into purposeful final products. These machines are used in different applications including home construction for windows, doors, stairs and others. Moreover, even in marines and locomotives, the demand of woodworking is expected to increase in the forecast period.


Global Woodworking Machines Market: Dynamics


Flourishing construction industry, along with the preference shifted towards aesthetic look are some major factors expected to drive growth of the target market. In addition, increasing demand from power tools and the introduction of CNC technology, along with robotic woodworking machines are some another factors anticipated to bolster growth of the target market. Moreover, increasing R&D activities by major players, development of advanced machines, and technological up-gradation of current products, are expected to create new opportunities for growth of the global market over the forecast period. However, high initial cost of the machines may hamper demand for the products and restrain growth of the global market over the forecast period. In addition, declining woods supply and increasing timber prices may affect adoption of target product in the future.

Latest trend observed in the market is that, manufacturers are focusing on using IoT in woodworking machines to connect internet and communication between objects and other internet enabled devices. In addition, manufacturers are aiming on producing highly personalized woodworking machinery, along with ensuring flexibility, which are expected to create revenue opportunities for players in target market.


Global Woodworking Machines Market: Segment Analysis


Among the product type segments, the saws segment is expected to account for significant revenue share in the global market.

Among the sales channel segments, the online segment is estimated to account for major revenue share, and is expected to maintain its dominance over the forecast period.

Among the end-use industry segments, the craft & furniture segment is expected to hold significant revenue share in the global market over the forecast period.


Global Woodworking Machines Market: Regional Analysis


North America woodworking machines market is expected to account for the highest share in terms of revenue as compared to other regions. This can be attributed to significant growth is the use of Internet of Things (IoT) in manufacturing units in countries in the region. Furthermore, the market in Asia Pacific is expected to account for second-highest market share, owing to increasing constructional projects and increasing adoption of advanced machines in countries in the region. In addition, urbanization and industrialization in various developing countries are expected to trigger demand for residential and commercial construction activities. In addition, increasing investments by major players for automation technologies, coupled with high focus towards modernizing/renovating the infrastructure and reducing the overall wastage are expected to propel growth of the target market over the next 10 years.

Global Woodworking Machines Market Segmentation:

Segmentation by Product Type:

  
Shapers & Planers
  
Saws
  
Jointers
  
Routers
  
Grinders
  
Wood Lathes
  
Drills and Borings

Segmentation by Sales Channel:

  
Online Retail
  
Retail Stores

Segmentation by End-use Industry:

  
Craft & Furniture
  
Construction
  
Marine & Locomotive


Key Market Players included in the report:


  
Biesse Group
  
Dürr Group
  
Dura Wood Working Machinery Industry & Trade Company Ltd.
  
Gongyou Group Co.Ltd.
  
HOLYTEK INDUSTRIAL CORP.
  
HOMAG Group
  
IMA Schelling Group GmbH
  
KTCC WOODWORKING MACHINERY
  
Masterwood SpA
  
Michael Weinig AG
  
Oliver Machinery Co.
  
Otto Martin Maschinenbau GmbH & Co. KG
  
Paolino Bacci
  
ROJEK Woodworking Machinery
  
SCM GROUP S.p.A.
  
Shandong Gongyou Group Co. Ltd.