The global woodworking machinery market will be driven by growing demand for engineered wood during the forecast period 2022-2027
Expert Market Research’s new report titled ‘Global Woodworking Machinery Market Report and Forecast 2022-2027’, gives an in-depth analysis of the global Woodworking Machinery market, assessing the market based on its segments such as type of product, type of operation, end use and major regions. The report tracks the latest industry trends and studies their impact on the overall market. It also assesses market dynamics, covering key demand and price indicators, as well as market analysis based on SWOT and Porter’s Five Forces models.
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Key highlights of the report include:
Market Overview (2017-2027)
- Historical market size (2021): USD 4.64 billion
- Forecast CAGR (2022-2027): 3.87%
- Forecasted market size (2027): 5.82 billion USD
The shift in focus from furniture made with traditional tools to furniture made with automatic machinery is expected to increase the demand for woodworking machinery in the near future. With the growing need for these machines in the construction industry, the construction industry is expected to experience rapid growth in the near future. During the forecast period, growing demand for wood furniture and engineered wood is expected to fuel the global expansion of woodworking machinery. The expansion of the woodworking machinery market is expected to be fueled by the increase in residential and commercial structures, and the growing demand from residents for the aesthetic appeal of their buildings.
Industry definition and major segments
Woodworking machinery is defined as equipment that processes wood and performs many operations on raw wood resources in order to turn them into desired finished products. These machines are used in small commercial manufacturing plants specializing in wood products. The size of the machines is determined by the application for which they are used. Jointers, shapers, saws, routers and other woodworking machines are some examples.
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By Product Type, the market is split into:
- Grinding machines
Based on type of operation, the market is categorized into:
Market end use is:
On the basis of region, the market is segmented into:
- North America
- Asia Pacific
- Latin America
- Middle East and Africa
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The global woodworking machinery market is expected to rise owing to the growing desire of customers to replace old furniture in order to rehabilitate their offices and homes. Residential and commercial customers increased the volume of investment in home furnishing products in wood categories due to improved brand awareness and awareness of home decor trends, resulting in a market expansion. End users receive highly technical wooden furniture from furniture manufacturers who use woodworking machinery. With the growing trend of mobile homes, the demand for mobile wooden furniture is increasing. Electric machines are expected to increase rapidly in the near future, due to the growing preference of countries for smart machines.
Main market players
Major market players include KTCC Woodworking Machinery, Durr, Cantek America, Gongyou Group, SCM Group, Holytek Industrial Corporation, and BiesseGroup, among others. The report covers market shares, capacities, plant rotations, expansions, investments, and mergers and acquisitions, among other latest developments of these market players.
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