The global CNC Woodworking Tools market is anticipated to show a promising CAGR of 6% during the forecast period 2019-2029. The impact of the Covid-19 pandemic on the CNC carpentry tools market is largely negative. Supply chain disruptions in the manufacturing sector, coupled with the continuing fallout from the US-China trade war, have created uncertainty in the sector, impacting the near-term market outlook.
“Increasing demands to minimize operating, error and labor costs in the mass production of woodworking equipment have led to the introduction of automated systems and requirements for numerically controlled (CNC) machine tools. Technological advances in artificial intelligence and machine learning support the use of CNC tools,” said an FMI analyst.
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CNC Woodworking Market - Top Trends
- Carbide CNC woodworking machines are gaining more and more popularity due to their versatility and high speed of use.
- Lathe applications contribute significantly to market revenue due to the higher level of customization and sophistication of CNC machines.
- The Asia-Pacific region is showing good growth prospects thanks to the government's favorable policy towards smart factories.
CNC Woodworking Equipment Market: Growth Drivers
- A growing number of carpenters and amateur hobbyists are increasing sales of CNC woodworking tools.
- Higher accuracy and higher levels of customization and design complexity than needing manual support.
CNC Woodworking Market: Main Limitations
- The high cost of CNC machines and tools is a major factor hindering the overall level of adoption.
- Growth prospects are limited by the shortage of skilled workers.
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Predicted impact of the coronavirus
The COVID-19 pandemic has greatly impacted the CNC woodworking tools market. Quarantine measures have disrupted manufacturing and mechanical operations in various industries, including woodworking. While demand for CNC tooling among DIYers remains strong, it offers moderate growth opportunities in the near term. Also, during the pandemic, the demand for wooden furniture has declined, which has worsened the market outlook during this period. The recovery is likely to be gradual due to the economic uncertainty affecting the end-use industry.
Competitive environment
The CNC carpentry tools market consists of players such as Karnasch Professional Tools GmbH, Robert Bosch GmbH, Rockler Companies, Inc., Vortex Tool Company Inc., Think & Tinker, Ltd., Amana Tool Corporation, BCAM CNC MACHINE, ITAL. Trade Srl. and VHF Camfacture AG.
CNC Woodworking market players are looking to integrate technological innovation into their offerings in order to provide customized solutions for a wider range of end-user tasks.
For example, Felder has released the H08 13.21 CNC machining center, which includes 15 different tool positions and an automatic wood measuring system. J&C O'Meara has introduced a patented software solution for integrating CNC woodworking machines into any existing workplace dedicated to instructional operations. Siemens has launched the new Windows 10-based Sinumerik MC CNC computer system for high-performance automation in the woodworking industry.
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Moreover
FMI study provides detailed insights into the CNC Carpentry Tools market. The market is split into five major regions by tool type (cutters, inserts, carving tools, and cutters), wood type (plywood, chipboard, MDF, HDF, and hardwood), and operations (milling, drilling, cutting, and profiling). . (North America, Latin America, Europe, Asia Pacific, Middle East and Africa).
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