Woodworking Machinery Market to Witness Progressive Growth to Reach $6.8 Billion by 2030, Adoption of Automated Woodworking Machinery to Increase to Accelerate Market Growth - Fortune Business Insights™
Pune, India, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The global woodworking machinery market was valued at $4.72 billion in 2022 and is expected to reach $4.86 billion by 2023. The market is projected to reach a CAGR of $6.8 billion by 2030. by 4.9% over the forecast period. Woodworking machinery refers to the processing of wood into various products such as beams, plywood and boards. Increasing use of precision engineering and automated woodworking machinery in manufacturing processes will drive market growth. Fortune Business Insight™ has shared this information in a report titled “Woodworking Equipment Market, 2023-2030”.
The main industrial developments.
August 2022. SCM Group introduces AutoStore, an innovative automated spare parts warehouse. The warehouse with an area of 900 m2 and a height of 5.5 m has 13 storage levels and 24,000 modular boxes.
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Scope and Segmentation Report
Purpose of the report | details |
forecast period | 2023-2030 |
Forecast period 2023-2030 CAGR | 4.9% |
Value forecast for 2030 | 6.80 billion dollars |
accounting year | 2022 |
Woodworking Machinery Market Share 2022 | $4.72 billion |
historical data of | 2019-2021 |
Number of pages | 120: |
covers the section | By type, application and region |
Driving the growth of woodworking machinery market | Increasing precision engineering to support market growth |
Accelerated use of prefabricated wooden houses for market growth. |
Impact of COVID-19.
North American industry has been severely affected by disruptions to manufacturing and retail services
The COVID-19 pandemic has had a significant impact on industry, wood production and retail. The North American industry has been severely affected by disruptions to manufacturers and retail services. The region was closed by manufacturers who believed in permanent business. UK timber importers freeze orders due to supply chain disruption.
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Regulators and restrictions.
Increase adoption of precision engineering to accelerate market growth
The growing adoption of precision engineering is expected to drive the growth of the woodworking machinery market. In recent years, CNC machines have been used to produce high-quality wood products. In addition, manufacturers emphasize the individual needs of wooden products among public and private end users.
However, health risks in the device manufacturing units are expected to hamper the market growth.
The purpose of the report.
The report provides a detailed analysis of key segments and the latest market trends. It comprehensively analyzes the driving and restraining factors and the impact of COVID-19 on the market. It also discusses regional developments and strategies adopted by key market players.
Market segmentation.
The lathe segment will have the largest share due to the increase in the number of machining centers.
Based on type, the market is segmented into lathe, planer, saw, and others. The lathe segment holds the largest market share due to the increasing number of wooden door processing centers for wood surface finishing. The planer segment experienced the highest CAGR due to the increasing adoption of highly efficient, lightweight planers.
The furniture segment has captured a dominant share due to increased government investment
On the basis of application, the market is segmented into construction, furniture, and others. It is assumed that the furniture sector will have the largest specific weight due to the increase in state investments. The construction sector is expected to show exponential growth due to rising incomes in developing countries.
On the basis of geography, the market is segmented into North America, Europe, Asia Pacific, Middle East & Africa, and South America.
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Regional analyses.
Europe will lead the market due to the presence of wood machinery manufacturers
Due to the presence of various woodworking machinery manufacturers, Europe is expected to lead the woodworking machinery market share. The market is estimated at $1.92 billion by 2022, with Germany being the leading market country in this region.
North America is expected to witness significant growth due to the consumption of wood for the construction of homes and commercial buildings and the adoption of cross-laminated timber (CLT) in the United States and Canada.
Competitive landscape.
Product portfolio enhancement by market players for market growth.
The market includes Biesse Group, HOLYTEK Industrial Corp., IMA Schelling Group GmbH, SCM Group, Dürr Group, Gongyou Group Co., Ltd. and Oliver Machinery Company Domina. Market players are improving their product range. In June 2020, SCM Group updated its product range to include the DMC system, which includes flexible modular sanding centers with wide belt sanders. The modular center is equipped with a manual scraper group that allows you to achieve a higher level of finish.
List of companies operating in the market.
Besse Group (Italy)
Holitech Industrial Corporation (Taiwan)
SCM Group (Italy)
Dürr Group (Germany)
Gongyou Group Co., Ltd. (demon)
IMA Schelling Group GmbH (Germany)
Michael Weinig AG (Germany)
CKM (Taiwan)
Cantek America Inc. (USA)
KTCC Woodworking Machinery (Taiwan)
Oliver Machinery Company (USA)
RS Legno SRL (Italy)
SOCOMEC SRL (Italy)
Solidea Srl (Italy)
Nihar Industries (India)
Zhengzhou Libon Machinery (China)
SOSN (China)
AL Dalton Ltd (UK)
Main content:
introduction
Summary:
Market dynamics
Macro and microeconomic indicators
Drivers, Constraints, Opportunities and Trends
Impact of COVID-19
Competitive landscape
Corporate strategies adopted by key players
Consolidated SWOT analysis of key players
Global Woodworking Machinery Market Share/Ranking of Leading Players, 2022
Global Woodworking Machinery Market Size Estimates and Forecasts by Segment, 2019-2030
original research
By type (USD)
turning
planner
Mountain range
Others (radial drills, cutters, edgers, grinders, etc.)
Per application (USD)
By region (USD)
North America
South America
Europe
Middle East and Africa
Asia Pacific
North America Woodworking Machinery Market Size Estimates and Forecasts, by Segment, 2019-2030
original research
By type (USD)
turning
planner
Mountain range
Others (radial drills, cutters, edgers, grinders, etc.)
Per application (USD)
By Country (USD)
United States of America
by type
turning
planner
Mountain range
Others (radial drills, cutters, edgers, grinders, etc.)
Canada
by type
turning
planner
Mountain range
Others (radial drills, cutters, edgers, grinders, etc.)
Mexico
by type
turning
planner
Mountain range
Others (radial drills, cutters, edgers, grinders, etc.)
OCD continues...!
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