According to FMI research, the milling cutter segment is expected to account for more than 40% of the volume during the forecast period (2022 to 2028) and the global market value of CNC woodworking tools is expected to exceed $2,600. million USD by the end of 2028 of the year. 2028.
In terms of wood species, medium-density fiberboard (MDF) is expected to account for one-third of all CNC woodworking machine sales by 2028. IMF estimates that the Asia-Pacific region will retain a share of dominant market of 47.3% of total revenue share in 2022. .
Key Findings of the CNC Woodworking Tools Market Research
- The 1/2 cutter segment is expected to show a good CAGR due to a significant preference for manual and industrial applications. In addition, the cutting segment also has a large share of the global CNC woodworking tools market, due in part to its primary use in profiling, cutting, and grooving.
- By type of wood, MDF (Medium Density Fibreboard) is expected to occupy 1/3 of the global market share as it is used in furniture, furnishings and flooring. Also, MDF is used in stereos for speaker cabinets because of its consistency, smooth surface, workability, and strength.
- Milling, drilling, profiling and cutting are the main applications of CNC woodworking tools. Cutting and grinding is expected to become the most profitable segment of the global market.
- The Asia-Pacific region is expected to develop at a significant CAGR in the global CNC woodworking tools market due to increasing demand from various end-use industries.
Market landscape: highly fragmented
The global market for CNC woodworking tools is highly fragmented due to the presence of many international and local players. In addition, the big players are expected to own less than 15% of the shares and the rest are local players. Furthermore, China and Mexico are two countries that are expected to change the landscape of the global CNC woodworking tools market in the coming years. During the study, participants such as Robert Bosch GmbH and Rockler Companies, Inc. and Vortex Tool Company Inc., among other things, as major players in the market for CNC woodworking tools throughout the entire value chain.
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CNC Woodworking Machine Market By Category
By tool type:
- router bit
- 1/2 inch
- 1/4 inch
- 3/8"
- 3/4 inch
- 5/8"
- 5/16"
- insert knife
- less than 0.3 inches
- 0.3-0.4 inches
- 0.4-0.5 inches
- 0.5-0.6 inches
- more than 0.6 inches
- drilling tool
- cutter
- flute cutter
- finger joint cutter
- slot cut
By type of wood:
- plywood
- board
- MDF (medium density fiberboard)
- HDF (High Density Fiberboard)
- hardwood
After the operation:
- milling work
- drill
- cuts
- profiling
By region
- North America
- South America
- Europe
- Asia-Pacific Area
- MEA (Middle East and Africa)
Do you want to know more?
Future Market Insights has released a research report on the global CNC woodworking tools market, including global industry analysis for 2013-2021 and opportunity assessment for 2022-2028. The report provides in-depth analysis of the CNC Woodworking Tools market across four distinct segments – Tool Type, Wood Types, Process, and Region. The CNC Woodworking Machine report also discusses macroeconomic factors, predictive factors, and key success factors. In addition, the team also included a list of global suppliers and distributors, as well as a list of online product sellers.
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About Future Market Insights (FMI)
Future Market Insights (an ESOMAR accredited market research firm and member of the Greater New York Chamber of Commerce) provides insight into the factors driving market demand. It highlights the opportunities that will drive market growth in different segments based on source, application, distribution channel, and end-use over the next 10 years.
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