German CNC woodworking tools are expected to emerge as a winning market in the European market during the forecast period. According to the IMF, sales in the European market are expected to exceed 24.5% of the total market share in 2022.
The increasing growth of precision tools in the woodworking sector, driven by the increasing demand for luxury furniture, is expected to create growth opportunities for the German market players.
According to a study by FMI, in terms of volume, the router bit segment is expected to account for more than 40% of the share during the forecast period (2022-2028), and machining is expected to dominate the global CNC tool market value. . 2.6 billion dollars of wood by the end of 2028.
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In terms of wood type, medium density fiberboard (MDF) is expected to account for 1/3 of all CNC woodworking tool sales by 2028. The IMF estimates that Asia Pacific will have a dominant market share of 47.3% of revenue in 2022. .
CNC woodworking tools are pre-programmed computer software equipment and machines in woodworking shops to increase productivity and improve accuracy and quality of work.
"Globally, CNC woodworking tools will continue to gain strength in the coming decades thanks to the rapid development of the automation industry and increased focus on safety. CNC machines are extremely safe as they can perform all operations on wood without the need for human intervention or manual labor.
Key conclusions of the CNC Woodworking Tools market study
- The 1/2" type router bits segment is expected to show a healthy annual growth rate due to its high preference for DIY and industrial applications. In addition, the cutters segment also plays a major role in the global CNC woodworking tools market. profiles, cuts and art. important to do, among others. about the use.
- By wood type, MDF (medium density fiberboard) is expected to account for 1/3 of the global market, as it is used in furniture, cabinets and flooring. Also, in music equipment, MDF is used to make speaker boxes because of its durability, smooth finish, processing and strength.
- Milling, drilling, profiling and cutting are the main applications of CNC woodworking tools. Cutting and grinding is expected to be the most profitable segment of the global market.
- The Asia Pacific region is expected to grow at a significant CAGR in the global CNC woodworking tools market, driven by increasing demand from various end-use industries.
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Market landscape: Highly fragmented
The global CNC woodworking tools market is highly fragmented due to the presence of numerous national and international players. Also, major players are expected to contribute less than 15%, while the rest is suitable for local players. Moreover, China and Mexico are two countries that will change the landscape of the global CNC woodworking tools market in the coming years. In the study, Robert Bosch GmbH, Rockler Companies, Inc. and Vortex Tool Company Inc. Players identified as key players in the supply chain of the CNC woodworking tools market.
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Future Market Insights has published a market research report on the global CNC woodworking tools market, including a global industry analysis for the period 2013-2021 and an opportunity assessment for 2022-2029. The report provides a detailed analysis of the CNC woodworking tools market in four different areas. segments: tool type, tree type, function and region. CNC Woodworking Tools report also includes macroeconomic factors, forecast factors and major success factors. In addition, the team also received a list of global suppliers and distributors, as well as a list of online product sellers.
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