KEY MARKET HIGHLIGHTS In 2022, the global woodworking machinery market was valued at USD 4.72 billion. Predictions show that from USD 4.87 billion in 2023, the market will expand to USD 6.82 billion by 2030, reflecting a 4.10% CAGR throughout the projected period.

Woodworking machines are essential in transforming raw wood into products like beams, plywood, and boards, widely used in industries like furniture-making, shipbuilding, and more. With the growing trend towards automation and precision in manufacturing, the demand for these machines is on the rise. They offer adaptability throughout the entire wood product creation process.

One notable trend is the rise of prefabricated wooden homes. Manufacturers globally are increasingly focusing on Cross-Laminated Timber (CLT) for these homes. The trend is catching on in countries such as the U.S., Italy, Austria, and France. Additionally, evolving lifestyles and a surge in demand for bespoke wooden items are expected to further boost the market.

IMPACT OF COVID-19 COVID-19 disruptions affected both supply chains and manufacturing processes.

The pandemic has left a significant mark on all aspects of the woodworking industry, from manufacturing to retail. A study by the Wood Component Manufacturers Association (WCMA) indicated a lasting impact and urged manufacturers to diversify their products. Notable challenges were supply chain disturbances, increased border checks, decreasing local and international demand, and retail shutdowns.

The North American woodworking sector experienced substantial setbacks, with nearly 3% of manufacturers considering permanent closure. Additionally, Acimall, the Italian Woodworking Technology Association, highlighted a sharp decline in machinery orders in the first quarter of 2020 across all key global markets.

U.K. timber import activities were halted due to supply chain issues, resulting in depressed trading levels in European countries. With this, a significant downturn in the global market was anticipated until mid-2021. Supportive measures from wood and timber institutions, coupled with government initiatives, will be essential moving forward.

LATEST INDUSTRY TRENDS Prefabricated wooden homes are on the rise, as timber results in lower CO2 emissions, making it environmentally compliant. These homes are not only energy-efficient but also enhance production efficiency and reduce material wastage. Recognizing these benefits, manufacturers in countries like Germany, the U.S., the U.K., and Finland are increasingly offering prefab wood homes, including bungalows and garages.

Furthermore, the booming construction industry in India is set to play a pivotal role in augmenting global market growth in the upcoming years.

Precision Engineering Boosting Market Expansion In recent times, the woodworking machinery market has witnessed a surge, credited to the hybrid approach of integrating CNC machines for maximum precision in creating top-notch wood products. Leading manufacturers like Gongyou Group Co., Ltd., and IMA Schelling Group GmbH provide specialized saws for precise cutting of wooden materials. This emphasis on innovation, coupled with the tailored demands of wooden products from various sectors, propels market growth. For instance, in 2019, the Biesse Group integrated automated 5-axis heads into their assembly lines, enhancing efficiency and precision. With rising disposable incomes in nations like Brazil, Mexico, India, and China, the industry is set to thrive.

RESTRAINING FACTORS Safety Concerns Stunt Market Progress The machinery used in woodworking can be dangerous if mishandled, underscoring the importance of safety in production spaces. Workers face risks like exposure to wood dust, noise, toxic finishes, unguarded machinery, and ergonomic issues. As per the U.K. Health and Safety Executive (HSE), roughly 35% of accidents involve table or circular saws, making them particularly hazardous. These safety concerns negatively affect the market's growth potential.

SEGMENTATION Type Analysis

• Lathe Segment Poised for Growth: The market categorizes types as lathe, planer, saw, and others. Lathes, due to advancements in CNC lathe machines, are anticipated to dominate the market. Meanwhile, the planer segment will likely experience significant growth, driven by the rise of efficient, lightweight planer machines. Other segments, like saws and jointers, are also predicted to grow, especially saw machinery, given its extensive use in woodworking.

Application Analysis

• Furniture Segment on the Rise: Segmenting the market by application, we have construction, furniture, and others. The furniture segment is primed to lead due to consumer preferences for aesthetic appeal. Concurrently, the construction segment is set to grow, given the increasing disposable incomes in emerging countries.

REGIONAL INSIGHTS

• Europe Holds the Reins: With major manufacturers located in Italy, Germany, and the U.K., Europe is poised to dominate the market. For context, the Food and Agriculture Organization (FAO) predicts European sawn wood production and consumption to witness a notable rise by 2030.


• Germany Leads in Smart Manufacturing: Renowned for its woodworking machinery prowess, Germany is home to powerhouse manufacturers. Many are pivoting towards smart manufacturing to optimize future production processes.


• North America & Asia Pacific Show Promise: The U.S. and Canada's focus on timber and Cross-Laminated Timbers (CLTs) spells growth for North America. Simultaneously, the Asia Pacific region is set to exhibit strong growth, driven by population dynamics, consumption patterns, and policy initiatives in countries like India and China.


• Middle East & Africa and South America See Export Surge: These regions are witnessing an uptick in forest product exports, positively influencing the market.

KEY INDUSTRY PARTICIPANTS Digital Advancements Define Key Players' Strategies Leading industry giants, such as Biesse Group, HOLYTEK INDUSTRIAL CORP., and SCM Group, are embracing digital transformation, leveraging technologies like Industry 4.0 and the Industrial Internet of Things (IIoT) to cater to tailored user demands. A notable example is Dürr Group's integration of smart analytics software to drive Smart Factory processes.

LIST OF KEY COMPANIES PROFILED:

• Biesse Group (Italy)


• HOLYTEK INDUSTRIAL CORP. (Taiwan)


• SCM Group (Italy)


• Dürr Group (Germany)


• Gongyou Group Co., Ltd. (China)


• IMA Schelling Group GmbH (Germany)


• Michael Weinig AG (Germany)


• CKM (Taiwan)


• Cantek America Inc. (U.S.)


• KTCC WOODWORKING MACHINERY (Taiwan)


• Oliver Machinery Company (U.S.)


• RS WOOD S.R.L. (Italy)


• SOCOMEC S.R.L. (Italy)


• Solidea Srl (Italy)


• Nihar Industries (India)


• Zhengzhou Leabon Machinery (China)


• SOSN (China)


• A L Dalton Ltd. (U.K.)

KEY INDUSTRY UPDATES:

• April 2023: CNC Router Machine, a leading name in the sector, unveiled a new series of CNC Router machines, designed to offer unparalleled efficiency and accuracy for woodworkers across various fields. With user-centric designs and state-of-the-art technology, these machines guarantee superior outcomes, catering to both small and large-scale operations.


• August 2022: SCM Group launched "Autostore", a state-of-the-art automated warehouse tailored for spare parts storage. Powered by 19 robots, this facility seamlessly manages an impressive inventory of 30,000 items. Spread over 900m2 and standing at 5.5 meters, it features 13 storage tiers and houses 24,000 modular containers, each capable of holding up to 30 kg of components.


• June 2019: Dürr Group initiated a series of strategic measures aiming for heightened efficiency within its woodworking machinery and system division, HOMAG Group. This initiative involved an expenditure of around USD 44.8 million, with USD 41.4 million expended in 2019 itself. These steps are projected to result in savings of approximately USD 16.8 million.


• May 2019: Dürr Group's HOMAG Group division rolled out the "iPackage," introducing bundled service solutions, specifically targeting small to medium enterprises that operate primarily in single shifts.

REPORT OVERVIEW: This report delivers an in-depth review of the global market, spotlighting vital components like top players, product/service variations, and primary application areas. Furthermore, it sheds light on current global woodworking machinery market trends and accentuates major industry shifts. The study also outlines the various dynamics that have been pivotal to the market's evolution in the recent past.

REPORT OVERVIEW & CATEGORIZATION

COMMONLY REQUESTED INFORMATION

1. What was the valuation of the global woodworking machinery market in 2022?


2. What's the projected value of the woodworking machinery market by 2030?


3. What's the expected Compound Annual Growth Rate (CAGR) for this market?


4. Which type-based segment is anticipated to dominate the market in the forecast period?


5. What's driving the market's growth?


6. Who are the leading players in this market?


7. What notable trend is observed in the market?


8. Which application category is likely to claim the majority market share?

Which segment looks promising for significant growth during the projected timeframe?