Woodworking Machinery Market Growth Analysis 2024 – Forecast Market Size And Key Factors Driving Growth

Overview and Scope
Woodworking machines are specially designed machines that are used in workshops to cut, saw, plane, or drill wood to produce furniture. These machines are primarily powered by electric motors or are mechanical and are widely used in woodworking to provide fine dimensions and shapes. The woodworking machinery converts raw wood materials into structural products including plywood, boards, and beams for use in construction, shipbuilding, furniture, and others.

Sizing and Forecast
The woodworking machinery market size has grown strongly in recent years. It will grow from $29.29 billion in 2023 to $31.87 billion in 2024 at a compound annual growth rate (CAGR) of 8.8%.  The  growth in the historic period can be attributed to construction and real estate boom, furniture manufacturing demand, wood processing industries, craftsmanship and artisanal woodwork, renovation and remodeling trends.

The woodworking machinery market size is expected to see strong growth in the next few years. It will grow to $43.52 billion in 2028 at a compound annual growth rate (CAGR) of 8.1%.  The growth in the forecast period can be attributed to growing  global construction projects, evolving furniture designs, technological integration, green building practices, global economic recovery. Major trends in the forecast period include innovations in wood finishing technologies, digitalization of design and production processes, customization and personalization trends, integration of augmented reality (ar) for training and design, shift towards compact and space-efficient machines.

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Segmentation & Regional Insights
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

Asia-Pacific was the largest region in the woodworking machinery market in 2023. North America was the second-largest market in the woodworking machinery market share. The regions covered in the woodworking machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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Major Driver Impacting Market Growth
The increasing expansion of construction industry is expected to propel the growth of woodworking machinery market going forward. The construction industry refers to a sector of the economy that encompasses the planning, designing, development, and construction of structures and infrastructure. Woodworking machinery is used in construction for precision shaping, cutting, and assembling of wood components, facilitating the production of doors, windows, furniture, and other architectural elements integral to building structures. For instance, in 2021, according to U.S. Census Bureau, the federal government’s largest statistical agency, an estimated 1,595,100 housing units were started in 2021, that increased by 15.6% from 1,379,600 in 2020 in the US. Therefore, the increasing expansion of construction sector is driving the growth of woodworking machinery market.

Key Industry Players
Major companies operating in the woodworking machinery market report are 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.

The woodworking machinery market report table of contents includes:
1. Executive Summary
2. Woodworking Machinery Market Characteristics
3. Woodworking Machinery Market Trends And Strategies
4. Woodworking Machinery Market – Macro Economic Scenario
5. Global Woodworking Machinery Market Size and Growth
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27. Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix

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