The net value of the woodworking CNC tools market is expected to be around US$1,823.3 million by 2022. Furthermore, the global market is expected to grow at a CAGR of 5.6% from 2023 to 2033. By the end of this forecast period, the market will be worth $3,335.4 million according to the Future Market Insights report.
As the construction industry grows along with economic growth, so does the global demand for sophisticated woodworking tools and equipment. The growing popularity of luxury furniture and 3D design techniques has also led to a strong demand for CNC 3D wood engraving machines. In addition, the use of a CNC wood lathe reduces the possibility of human error, thereby reducing additional costs.
Another important factor in the sales of CNC woodworking equipment is the growing trend towards automation in all industries. Moreover, market players are expected to benefit from the integration of business information modeling and 3D wood cutting technology. On the other hand, the installation and maintenance costs, which are high compared to manual woodworking machines, should resist the market growth and trends.
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The market is expected to be challenged by concerns about costly mistakes that can result from undetected wrong instructions.
Key Points of Woodworking CNC Tools Market Research Report
- The use of all types of CNC woodworking machines is widespread in the US, which accounts for 14.8% of the world market alone. The US market is expected to grow in 2033, supporting the increasing use of wood in the construction industry.
- Germany is expected to hold the largest share of the woodworking CNC tools market in Europe during the forecast period. This is due to the fact that the country's traditional CNC tool manufacturers together have a global market share of 6.5%.
- FMI estimates that Asia Pacific will together account for 47.3% of total sales of CNC woodworking tools by 2022. China is the leading CNC woodworking tool subcontracting market in Asia Pacific and is expected to grow at a CAGR of 6.8. %: By 2033
- China is followed by Japan in the production of CNC woodworking tools, which is estimated to be worth US$82 million in 2022. Meanwhile, the sales of CNC woodworking tools in Australia this year was about $43.75 million.
- India is expected to grow at a CAGR of 7.2% till 2033, offering some excellent opportunities for local and global players.
- Among the different types of tools, the CNC wood cutter segment dominates the market, accounting for 49% of sales by 2022.
Competitive Landscape for CNC Woodworking Tools Market Players
Apart from acquisitions and mergers, leading CNC Woodworking Tools companies can also pursue strategies such as alliances and operational expansion to protect their presence.
The market is also influenced by the increasing use of advanced technology in response to rising labor costs. Well-known manufacturers such as IMA Schelling Group GmbH use the latest woodworking tools effectively to offer a range of precision saws and panel saws.
SCM Group announced in June 2020 that the DMC System Flexible Grinding Module Center could be added to their expanded waistline product portfolio. According to the company, the modular center has a hand scraper to achieve high wood production.
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Key Segments Covered in CNC Woodworking Machinery Industry Research Report
Depending on the type of tool.
- cutter
- 1/2"
- 1/4"
- 3/8"
- 3/4"
- 5/8"
- 5/16"
- Enter the knife
- Less than 0.3 inches
- 0.3" - 0.4"
- 0.4" - 0.5"
- 0.5" - 0.6"
- More than 0.6 inches
- engraving tools
- cutter
- One flute cutter
- finger joint cutter
- groove cutter
- Other types of tools
Depending on the type of wood.
- plywood
- DSP:
- Medium Density Fibreboard (MDF)
- High Density Fiber (HDF)
- hard wood
- Other types of wood
In action.
- Grind
- Drill
- Cut
- create profiles
Via App:
- wood workshop
- construction
- Other programs:
By region:
- North American market
- South American market
- European market
- East Asian market
- South Asian and Pacific market
- Middle East and Africa market
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