According to a study by the International Monetary Fund, the grinding sector is expected to account for more than 40% by volume during the forecast period (2022 to 2028), and the global CNC woodworking tools market value is expected to exceed $2.6. billion by the end of 2028.
In terms of wood species, medium-density fiberboard (MDF) is expected to account for one-third of all CNC woodworking tool sales by 2028. The IMF estimates that Asia Pacific will retain the dominant market share with a revenue share of 47.3%. in 2022.
Key insights of CNC woodworking tools market research
- The 1/2 router bit segment is expected to show a healthy CAGR due to a strong preference for DIY and industrial applications. Furthermore, the router segment also has a notable share in the global CNC woodworking tools market due to its wide usage in profiling, cutting, and grooving among others.
- By wood species, MDF (medium density fiberboard) is expected to account for a third of the global market share, as it is used to make furniture, cabinets and flooring. Also, MDF is used in musical equipment to make cabinets because of its durability, smooth surface, workability, 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 in the global market.
- Asia Pacific is expected to grow at a significant CAGR in the global CNC woodworking tools market, driven by increasing demand from various end-use industries.
Market landscape: highly fragmented
The global market for CNC woodworking tools is highly fragmented, as there are many national and international players. Furthermore, major players are expected to own less than 15% of the shares, while local players will hold the rest. Furthermore, China and Mexico are two countries that are expected to transform the landscape of the global CNC woodworking tools market in the coming years. During the investigation, Robert Bosch GmbH and Rockler Companies, Inc. and Vortex Tool Company Inc., among others, as key players in the Woodworking CNC Tools market throughout the value chain.
Do you want to know more?
Future Market Insights has released a research report on the Global CNC Woodworking Tools Market with Global Industry Analysis 2013-2021 and Opportunity Assessment 2022-20289. 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 Tools report also covers macroeconomic factors, forecast factors, and key success factors. In addition, the team has also integrated a list of global suppliers and distributors and a list of online product sellers.
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CNC Woodworking Tools Market By Category
By vehicle type:
- router bit
- 1/2″
- 1/4″
- 3/8"
- 3/4"
- 5/8"
- 5/16
- insert the knife
- less than 0.3"
- 0.3-0.4″
- 0.4-0.5″
- 0.5-0.6"
- more than 0.6″
- drilling tools
- Strawberry
- strawberry flute
- finger stamp cut
- choke cut
According to the type of wood:
- plywood
- plank
- MDF (medium density fiberboard)
- HDF (high density fiberboard)
- hardwood
After surgery:
- grinding
- drills
- Login
- profiling
By region
- North America
- South America
- Europe
- Pacific Asia
- MEA (Middle East and Africa)
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