Global Woodworking Machinery Market Report 2021 - Opportunities And Strategies, Market Forecast And Trends
16 Sep, 2021
The woodworking machinery market consists of sales of woodworking machines by entities (organizations, sole traders, and partnerships) that convert raw wood materials into structural products including plywood, boards, and beams for use in construction, shipbuilding, furniture, and others. Woodworking machines are particularly built machinery that is used in workshops to cut, saw, plane, or drill wood for furniture making. These machines are primarily powered by electric motors or are mechanical and are widely used in woodworking to provide fine dimensions and shapes.
Global Woodworking Machinery Market Size And Drivers:
The global woodworking machinery market is expected to grow from $3.57 billion in 2020 to $3.86 billion in 2021 at a compound annual growth rate (CAGR) of 8.1%. The growth in the woodworking machinery market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The woodworking machinery market is expected to reach $4.59 billion in 2025 at a CAGR of 4.5%. The increasing adoption of the automated woodworking machinery market is expected to propel the growth of the woodworking machinery market in the forecast period.
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Trends In The Global Woodworking Machinery Market
Technological advancements are shaping the woodworking machinery market. Major companies operating in the woodworking machinery sector are focused on developing technological solutions for woodworking machinery to satisfying the rising market demand. For instance, in March 2019, Vitap, an Italy-based manufacturer of woodworking machines used cutting-edge technology to update the entire range of woodworking machines as well as create entirely new solutions for the rapidly changing industry. The recent advancements of Vitap intend to adopt improved manufacturing processes in both large and small businesses.
Global Woodworking Machinery Market Segments:
The global woodworking machinery market is further segmented –
By Product Type: Thickness Planer, Grinding Machines, Chain Or Chisel Mortise, Routers, Wood Lathes, Others
By Operating Principal: Electrical, Mechanical
By Sales Channel: Online, Offline
By End-User: Furniture Industry, Construction Industry, Others
By Geography: The global woodworking machinery market is segmented into North America, South America, Asia-Pacific, Eastern Europe, Western Europe, Middle East and Africa. Among these regions, the Asia Pacific woodworking machinery market accounts for the largest share in the global woodworking machinery market.
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https://www.thebusinessresearchcompany.com/report/woodworking-machinery-global-market-reportWoodworking Machinery Global Market Report 2021 is one of a series of new reports from The Business Research Company that provides woodworking machinery market overviews, analyzes and forecasts market size and growth for the global woodworking machinery market, woodworking machinery market share, woodworking machinery market players, woodworking machinery market segments and geographies, woodworking machinery market’s leading competitors’ revenues, profiles and market shares. The woodworking machinery market report identifies top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.