Press Release

As the novel coronavirus (COVID-19) continues to spread across the world, our analysts are constantly tracking the impact of this rapidly evolving situation on the markets and the consumer purchase behaviours. Thus, our latest estimates and analysis about the current market trends and forecast will exhaustively reflect the effects of this emerging pandemic.

Global Woodworking Machinery Market to Reach USD 5.82 Billion by 2027, Aided by the Growing Demand for the Wooden Furniture

According to a new report by EMR titled, ‘Global Woodworking Machinery Market Report and Forecast 2022-2027’, the global woodworking machinery market reached a value of USD 4.64 billion in 2021. The industry is further expected to grow at a CAGR of 3.87% in the forecast period of 2022-2027 to reach a value of around USD 5.82 billion by 2027.

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:

  • The product types in the market are grinding machines, routers, planers, drills, and saws, among others.
  • Based on operating type, the market is divided into electrical and mechanical.
  • The end use of the market is furniture industry and construction industry, among others.
  • The regional markets for Woodworking Machinery include North America, Europe, Asia Pacific, Latin America, and the Middle East, and Africa.

Key Findings of the Report:

  • The global woodworking machines market is predicted to increase due to customers' increasing desire to replace old furniture to rehabilitate their offices and homes.
  • Residential and commercial customers have raised the volume of investments in furnishing products in the wooden categories, resulting in market expansion.
  • With the growing trend of moving residences, the demand for movable wooden furniture is growing.
  • The rising technological advancements in the woodworking machinery market is increasing the market growth.

Key Offerings of the report:

  • The EMR report gives an overview of the global woodworking machinery market for the periods (2017-2021) and (2022-2027).
  • The report also offers the historical (2017-2021) and forecasted (2022-2027) markets for product type, operating type, end use, and major regions of woodworking machinery.  
  • The report analyses the market dynamics, covering the key demand and price indicators in the market, along with providing an assessment of the SWOT and Porter’s Five Forces models.

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.

About Us:

Expert Market Research (EMR) is a leading market research and business intelligence company, ensuring its clients remain at the vanguard of their industries by providing them with exhaustive and actionable market data through its syndicated and custom market reports, covering over 15 major industry domains. The company's expansive and ever-growing database of reports, which are constantly updated, includes reports from industry verticals like chemicals and materials, food and beverages, energy and mining, technology and media, consumer goods, pharmaceuticals, agriculture, and packaging.

EMR leverages its state-of-the-art technological and analytical tools, along with the expertise of its highly skilled team of over 100 analysts and more than 3000 consultants, to help its clients, ranging from Fortune 1000 companies to small and medium sized enterprises, easily grasp the expansive industry data and help them in formulating market and business strategies, which ensure that they remain ahead of the curve.

Contact Us:

Expert Market Research
Website: www.expertmarketresearch.com
Email: sales@expertmarketresearch.com
US & Canada Phone no: +1-415-325-5166
UK Phone no: +44-702-402-5790

*We at Expert Market Research always thrive to give you the latest information. The numbers in the article are only indicative and may be different from the actual report.

Why Expert Market Research?

RIGHT PEOPLE

We are technically excellent, strategic, practical, experienced and efficient; our analysts are hand-picked based on having the right attributes to work successfully and execute projects based on your expectations.

RIGHT METHODOLOGY

We leverage our cutting-edge technology, our access to trusted databases, and our knowledge of the current models used in the market to deliver you research solutions that are tailored to your needs and put you ahead of the curve.

RIGHT PRICE

We deliver in-depth and superior quality research in prices that are reasonable, unmatchable, and shows our understanding of your resource structure. We, additionally, offer attractive discounts on our upcoming reports.

RIGHT SUPPORT

Our team of expert analysts are at your beck and call to deliver you optimum results that are customised to meet your precise needs within the specified timeframe and help you form a better understanding of the industry.

Similar Reports





NEWSLETTER