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Global Woodworking Machines Market by Application and Geography - Forecast and Analysis 2020-2024

  • Published: Dec 2020
  • Pages: 120
  • SKU: IRTNTR44493
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The woodworking machines market has the potential to grow by USD 679.38 million during 2020-2024, and the market’s growth momentum will accelerate at a CAGR of 3.13%.

This woodworking machines market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Based on our research output, there has been a neutral impact on the market growth during and post COVID-19 era. The adoption of automated woodworking machines is notably driving the woodworking machines market growth, although factors such as may impede market growth. To unlock information on the key market drivers and the COVID-19 pandemic impact on the woodworking machines market industry, get your FREE report sample now.

This report provides extensive insights on segmentation by application (furniture, construction, and others) and geography (Europe, APAC, MEA, North America, and South America). The woodworking machines market report also offers information on several market vendors, including Biesse Spa, Durr AG, HOLYTEK INDUSTRIAL Corp., IMA Schelling Group GmbH, KTCC WOODWORKING MACHINERY, Masterwood Spa, Michael Weinig AG, Otto Martin Maschinenbau GmbH & Co. KG, SCM GROUP Spa, and Shandong Gongyou Group Co. Ltd. among others.

What will the Woodworking Machines Market Size be in 2020?

Woodworking-Machines-Market-Market-Size-2019-2024

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Woodworking Machines Market: Key Drivers and Trends

  • The adoption of automation is one of the key factors driving the woodworking machinery market growth.
  • The increasing focus on ensuring flexibility and highly personalized product in the woodworking industry has increased the need for highly specialized woodworking machinery in the production process. This is creating a scope for automation of traditional woodworking machinery.
  • Automated standalone machines are also flexible enough to find easy integration with other machinery and monitoring systems in the wood industry with the help of software
  • The automated woodworking machines are getting more flexible for the users during the entire production lifecycle of the development of wood products.
  • The changing lifestyle, coupled with the high demand for luxury products that leads to the need for a diverse range of wooden products, will drive market growth. 
  • The growing demand for wooden furniture is one of the key woodworking machines market trends.
  • The sales of wooden furniture have a direct influence on the growth of the woodworking machines market, and the furniture industry contributes over 82% of the market share.
  • Most of the demand for wooden furniture is from the residential segment.
  • The growth of the wooden furniture industry was also supported by economic factors such as rising urban population and increasing per capita spending.
  • In residential and commercial spaces, wooden furniture provides enhanced durability and improved aesthetic looks to the living space.
  • Due to increased brand consciousness and awareness about interior design trends, residential and commercial users have increased the magnitude of investments in furnishing products in wooden categories.
  • Furniture manufacturers use woodworking machines to deliver highly engineered wooden furniture to end-users.

This woodworking machines market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. Get detailed insights on market drivers, trends, and challenges, which will help companies evaluate and develop growth strategies.

Who are the Major Woodworking Machines Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Biesse Spa
  • Durr AG
  • HOLYTEK INDUSTRIAL Corp.
  • IMA Schelling Group GmbH
  • KTCC WOODWORKING MACHINERY
  • Masterwood Spa
  • Michael Weinig AG
  • Otto Martin Maschinenbau GmbH & Co. KG
  • SCM GROUP Spa
  • Shandong Gongyou Group Co. Ltd.

 

The woodworking machines market is fragmented and the vendors are deploying growth strategies such as M&A to compete in the market. Click here to uncover other successful business strategies deployed by the vendors. 

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

Download a free sample of the woodworking machines market forecast report for insights on complete key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Woodworking Machines Market?

Woodworking-Machines-Market-Market-Share-by-Region-2019-2024

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34% of the market’s growth will originate from APAC during the forecast period. China is one of the key markets for woodworking machines in APAC. Market growth in this region will be faster than the growth of the market in other regions.

The economic advancements and population explosion will facilitate the woodworking machines market growth in APAC over the forecast period. To garner further competitive intelligence and regional opportunities in store for vendors, view our sample report.

What are the Revenue-generating Application Segments in the Woodworking Machines Market?

Woodworking-Machines-Market-Market-Share-by-Application-2019-2024

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Woodworking machines are mainly used in the furniture industry. Wooden furniture and household wooden furniture are the basic products that are developed using woodworking machinery. In residential spaces, furniture is used for its usability and aesthetics. Specifically, the demand for portable wooden furniture is increasing due to the trend of shifting homes. Market growth in this segment will be slower than the growth of the market in the construction and others segments. 

Fetch actionable market insights on post COVID-19 impact on each segment. This report provides an accurate prediction of the contribution of all the segments to the growth of the woodworking machines market size.

 

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What are the Key Factors Covered in this Woodworking Machines Market Report?

  • CAGR of the market during the forecast period 2020-2024
  • Detailed information on factors that will drive woodworking machines market growth during the next five years
  • Precise estimation of the woodworking machines market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the woodworking machines industry across Europe, APAC, MEA, North America, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of woodworking machines market vendors

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Woodworking Machines Market Scope

Report Coverage

Details

Page number

120

Base year

2019

Forecast period

2020-2024

Growth momentum & CAGR

Accelerate at a CAGR of 3%

Market growth 2020-2024

USD 679.38 million

Market structure

Fragmented

YoY growth (%)

1.19

Regional analysis

Europe, APAC, MEA, North America, and South America

Performing market contribution

APAC at 34%

Key consumer countries

China, Germany, US, UK, and France

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Companies profiled

Biesse Spa, Durr AG, HOLYTEK INDUSTRIAL Corp., IMA Schelling Group GmbH, KTCC WOODWORKING MACHINERY, Masterwood Spa, Michael Weinig AG, Otto Martin Maschinenbau GmbH & Co. KG, SCM GROUP Spa, and Shandong Gongyou Group Co. Ltd.

Market Dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID 19 impact and future consumer dynamics, market condition analysis for forecast period,

Customization purview

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Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Analysis
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Furniture - Market size and forecast 2019-2024
  • Construction - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Biesse Spa
  • Durr AG
  • HOLYTEK INDUSTRIAL Corp.
  • IMA Schelling Group GmbH
  • KTCC WOODWORKING MACHINERY
  • Masterwood Spa
  • Michael Weinig AG
  • Otto Martin Maschinenbau GmbH & Co. KG
  • SCM GROUP Spa
  • Shandong Gongyou Group Co. Ltd.

Appendix

  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

Research Framework

Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

TechnavioINFORMATION SOURCES

Primary sources

  • Manufacturers and suppliers
  • Channel partners
  • Industry experts
  • Strategic decision makers

Secondary sources

  • Industry journals and periodicals
  • Government data
  • Financial reports of key industry players
  • Historical data
  • Press releases
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TechnavioDATA ANALYSIS

Data Synthesis

  • Collation of data
  • Estimation of key figures
  • Analysis of derived insights

Data Validation

  • Triangulation with data models
  • Reference against proprietary databases
  • Corroboration with industry experts
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TechnavioREPORT WRITING

Qualitative

  • Market drivers
  • Market challenges
  • Market trends
  • Five forces analysis

Quantitative

  • Market size and forecast
  • Market segmentation
  • Geographical insights
  • Competitive landscape
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The woodworking machines market growth will increase by $679.38 million during 2019-2024.
The woodworking machines market is expected to grow at a CAGR of 3.13% during 2019-2024.
Technavio has segmented the woodworking machines market by application (Furniture, Construction, and Others) and geographic (Europe, APAC, MEA, North America, and South America).
Biesse Spa, Durr AG, HOLYTEK INDUSTRIAL Corp., IMA Schelling Group GmbH, KTCC WOODWORKING MACHINERY, Masterwood Spa, Michael Weinig AG, Otto Martin Maschinenbau GmbH & Co. KG, SCM GROUP Spa, Shandong Gongyou Group Co. Ltd. are a few of the key vendors in the woodworking machines market.
APAC will register the highest growth rate of 34.25% among the other regions. Therefore, the woodworking machines market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
The key factors driving the woodworking machines market growth are:
  • Increasing adoption of automated woodworking machines
The woodworking machines market vendors should focus on grabbing business opportunities from the segment as it accounted for the largest market share in the base year.
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