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With the rising demand for engineered wood and wooden furniture, the market for woodworking is rapidly expanding. The growth in the woodworking machinery market is primarily due to companies resuming operations and adjusting to the new normal as they recover from the COVID-19 impact, which had previously resulted in restrictive containment measures such as social distancing, remote working, and the closure of commercial activities, which created the operational challenges. Construction growth is likely to be a big boon to the market for woodworking machines. The market for woodworking equipment is predicted to increase significantly in the near future, owing to rising innovation in wooden aesthetics, and DIY trends. Increased market innovation is paving the path for more appealing wooden designs and a wider range of wooden furniture, while lowering the traditional concerns of termite infestations and water contamination. Wooden furniture is becoming increasingly reliable in homes and offices, where it provides familiarity, and durable use in heavy-duty applications. As new startups continue to prefer wooden furniture with stylish designs over plastic furniture, which can be unpleasant and lacks prestige, the growing woodworking equipment market is predicted to drive significant growth.
The increased demand for highly specialised woodworking machines in the manufacturing process has stemmed from the industry's rising emphasis on ensuring flexibility and highly customised goods. As a result, automation has been incorporated into traditional woodworking machinery. For example, in 2019, Biesse Group (BIT: BSS), an Italian firm that develops technology for processing wood, glass, stone, innovative materials, and metal, automated its 5-axis heads, a woodworking device on its manufacturing line, to reduce travel time and improve machine precision.
Market Analysis by Product Type, Operating Type, End Use, and Regions:
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The major players in the global woodworking machinery industry are KTCC Woodworking Machinery, Durr, Cantek America, Gongyou Group, SCM Group, Holytek Industrial Corporation, and BiesseGroup, among others. The comprehensive report by EMR looks into the market share, capacity, and latest developments like mergers and acquisitions, plant turnarounds, and capacity expansions of the major players.
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