The woodworking machinery market has experienced robust growth, increasing from $29.29 billion in 2023 to $31.87 billion in 2024, reflecting a CAGR of 8.8%. This growth is driven by high demand in furniture manufacturing and construction. By 2028, the market is expected to reach $43.52 billion, with a CAGR of 8.1%, fueled by technological integration and green building practices.
Major Driver In The Woodworking Machinery Market
The woodworking machinery market is set to experience significant growth, propelled by the burgeoning construction industry, which encompasses the planning, designing, and construction of structures and infrastructure. Woodworking machinery plays a crucial role in precision shaping, cutting, and assembling wood components essential for doors, windows, furniture, and architectural elements in building structures. Notably, in 2021, the U.S. Census Bureau reported a 15.6% increase in housing unit starts, with 1,595,100 units compared to 1,379,600 in 2020, underscoring the expansion of the construction sector. Consequently, the rising expansion in construction activities fuels the demand for woodworking machinery. Thus, the woodworking machinery market is propelled by the expanding construction sector, with market sizes reflecting 1,595,100 housing units (2021).
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Woodworking Machinery Market Competitive Landscape
Dürr Systems GmbH & Co. KG, MSC Industrial Supply Co., Robland Corporation, Biesse Group S.p.A., SCM Group SPA, Michael Weinig AG, SawStop, IMA Schelling Group GmbH, Altendorf GmbH & Co. KG, Grizzly Industrial Inc., HOMAG Group AG, Linze Woodworking Machinery Co. Ltd., Gongyou Group Co. Ltd., JPW Industries Inc., Laguna Tools, Felder Group, Thermwood Corporation, Macrodyne Technologies Inc., Bishop-Wisecarver Inc., Delta Power Equipment Corporation, Cantek America, Hermance Machine Company, Oliver Machinery Co. Ltd., MiniMax S.r.l., Martin Woodworking Machines GmbH, JET Tools, Paolino Bacci S.p.A., Otto Martin Maschinenbau GmbH & Co. KG, Holytek Industrial Corp., Cheng Kuang Machinery Co. Ltd., Rilesa S.r.l., KTCC Woodworking Machinery Co. Ltd., Rojek Woodworking Machinery Inc., Vigano Mario S.r.l., Daltons Wadkin Ltd., Woodstock International Inc.
Key Woodworking Machinery Market Trend
Major companies operating in the woodworking machinery market are developing new products such as CNC machines to gain a competitive edge in the market. CNC (Computer Numerical Control) machines are automated manufacturing devices that utilize computerized systems to control and execute precise machining operations on various materials, such as metal, wood, plastic, and composites. For instance, in November 2022, Comeva, a Spain-based woodworking machinery company, launched NICRON 5X CNC machines, featuring high quality, performance, and a competitive price-quality ratio. Specifically designed for medium and large companies seeking enhanced productivity, the CNC NICRON 5X series includes models like CNC NICRON DOOR 5X for door machining, CNC NICRON NESTING 5X for cutting and machining boards, and CNC NICRON BARRAS 5X, a versatile machine with a 5-axis head and complete drilling capabilities. Manufactured and assembled in Spain, these machines offer precision and efficiency for various woodworking applications.
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Woodworking Machinery Market Segmentation
The woodworking machinery market covered in this report is segmented –
1) By Product Type: Thickness Planer, Grinding Machines, Chain Or Chisel Mortise, Routers, Wood Lathes, Other Product Types
2) By Operating Principal: Electrical, Mechanical
3) By Sales Channel: Online, Offline
4) By End-User: Furniture Industry, Construction Industry, Other End-Users
By Geography:The regions covered in the woodworking machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
Asia-Pacific was the largest region in the woodworking machinery market in 2023.
The Woodworking Machinery Global Market Report 2024 furnishes information about the global woodworking machinery market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.
