Dublin, March 23, 2023 (GLOBE NEWSWIRE) — According to the latest estimates by Fact.MR, a market research and competitive intelligence provider, the global woodworking machinery market will be worth US$ 5.2 billion in 2023 and is forecast to reach the US. 8 billion by the end of 2033.

Machine tools used in woodworking mostly give shapes and dimensions to the wood. Woodworking tools are used in several industries including construction, shipbuilding and locomotives. Woodworking tools are used in medium-sized businesses that specialize in producing wooden goods. Most woodworking machines are electrically powered, and some are hydraulically powered. The size of machines varies depending on the purpose they serve. Jointers, saws, shapers, routers and other tools are some examples of woodworking tools.

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Residential and commercial structure owners have increased their spending on furnishing products in the wood category as a result of enhanced brand awareness and ever-changing interior design trends. Woodworking machines are used by furniture manufacturers to provide buyers with highly developed wooden furniture. Additionally, increasing preference towards mechanization of industrial units to increase labor productivity and overall efficiency is predicted to increase the need for woodworking machinery in the coming 10 years.

The need for more specialized woodworking machinery in the manufacturing process has led to a focus on providing flexibility and expanded to more customized wood products. This opens the door to automation of traditional woodworking tools. Automatic woodworking machines have been launched which are more user friendly and gaining immense popularity in the market.

Key takeaways from market research

• Global woodworking machinery market to reach US$ 5.2 billion in 2023.
• Worldwide sales of woodworking machines are predicted to increase at a CAGR of 4.5% from 2023 to 2033.
• The woodworking machinery market in Canada is predicted to expand at a CAGR of 3.5% during the forecast period.
• Demand for planer machines is expected to grow at a CAGR of 5% over the next 10 years.
• The Chinese market will grow at a CAGR of 7% by 2033.

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Competitive analysis

Major manufacturers of woodworking machinery are introducing sophisticated, high-performance systems to enhance their product lines and gain an advantage over their market competitors.

• Oliver Machinery Company released the 10044 12-1/2 Benchtop Planer in February 2021. It uses a BYRD Shelix cutter head made in the United States. It has a magnetic switch and a commonly used 15 Amp 2HP 115V motor with thermal overload protection.
• Industry-leading woodworking tools from MARTIN Woodworking Machines Corporation were showcased at LIGNA in Hannover, Germany in April 2019. The trade show for woodworking and wood processing is called LIGNA.
• Crescent, the premium tool brand of Apex Tool Group, has introduced its latest collection of circular saw blades in September 2021. These new blades are designed to cut faster and last longer even in demanding end-use situations. Finecut Finishing Blades, Nailsicer Framing Blades and Steelslicer Metal Blades are some of the newly launched products.

Profile of major companies

• Andritz AG
• Bysse Spa
• Durr AG
• Gala Gar SL
• Hitachi Koki Co., Ltd.
• IMA Schelling Group GmbH
• Jji Kae Enterprise Co., Ltd.
• Makita Corporation
• Makor SriL
• Metabawerk GmbH
• Michael Weinig AG
• Minda Industriallogen GmbH (Minda Group)
• Robert Bosch GmbH
• SCM Group Sp
• Sorma Group
• VOLLMER WERKE Maschinenfabrik GmbH

Major Divisions of Woodworking Machinery Industry Research

• By Product:
  • lathes
  • planners
  • Saws
  • Grinding machines
• By type of operation:
• By Application:
  • Furniture
  • construction
  • Shipbuilding
  • Locomotives
• Region wise:
  • North America
  • Latin America
  • Europe
  • East Asia
  • South Asia and Oceania
  • MEA

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More valuable insights On offer

Fact.MR, in its new offering, presents an unbiased analysis of the global woodworking machinery market, presenting historical demand data (2018 to 2022) and forecast figures for the period (2023 to 2033).

The study reveals essential market insights based on product (lathes, planers, saws, grinding machines), operating type (mechanical, electrical) and application (furniture, construction, shipbuilding, engines) in five major regions of the world (North America, Europe, Asia Pacific , Latin America and MEA).

Important questions covered in Woodworking machinery market Report

• What is the estimated market size in 2023?
• At what rate will the global woodworking machinery sales grow to 2033?
• What are the factors hindering the demand for woodworking machinery?
• Which region will lead growth in the global industry during 2023-2033?
• What are the factors driving the sales of woodworking machinery market during the forecast period?

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