LONDON, Oct. 19, 2023 (GLOBE NEWSWIRE) — According to The Business Research Company’s research report on the woodworking machinery market, technological advancements are shaping the woodworking machinery market. Major companies operating in the woodworking machinery sector are focused on developing technological solutions for woodworking machinery to satisfying the rising market demand.
For instance, in March 2019, Vitap, an Italy-based manufacturer of woodworking machines used cutting-edge technology to update the entire range of woodworking machines as well as create entirely new solutions for the rapidly changing industry. The recent advancements of Vitap intend to adopt improved manufacturing processes in both large and small businesses.
Major players in the woodworking machinery market are SCM Group, HOMAG Group, Paolino Bacci, Biesse Group, Michael Weinig AG, Otto Martin Maschinenbau GmbH & Co. KG, Oliver Machinery Co., Holytek Industrial Corp., IMA Schelling Group GmbH, KTCC Woodworking Machinery, Rojek Woodworking Machinery Inc., Cheng Kuang Machinery, Vigano Mario Srl, Linze Woodworking Machinery Co., Daltons Wadkin, Hermance Machine Company, and Rilesa.
In May 2019, JPW Industries, a US-based company that manufactures metalworking and woodworking equipment company acquired Baileigh Industrial for an undisclosed amount. Baileigh Industrial is a US-based company that designs and manufactures industrial metalworking and woodworking machinery. The acquisition improves JPW Industries’ product portfolio of high-quality metalworking and woodworking products globally.
The Business Research Company’s report titled Woodworking Machinery Global Market Report 2023 – By Product Type (Thickness Planer, Grinding Machines, Chain Or Chisel Mortise, Routers, Wood Lathes), By Operating Principal (Electrical, Mechanical), By Sales Channel (Online, Offline), By End-User (Furniture Industry, Construction Industry), COVID-19 Growth And Change covers major woodworking machinery companies, woodworking machinery market share by company, woodworking machinery manufacturers, woodworking machinery market size, and woodworking machinery market forecasts. The report also covers the global woodworking machinery market and its segments.
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The woodworking machinery market consists of sales of woodworking machines by entities (organizations, sole traders, and partnerships) that convert raw wood materials into structural products including plywood, boards, and beams for use in construction, shipbuilding, furniture, and others. Woodworking machines are particularly built machinery that is used in workshops to cut, saw, plane, or drill wood for furniture making. These machines are primarily powered by electric motors or are mechanical and are widely used in woodworking to provide fine dimensions and shapes.
The global woodworking machinery market is expected to grow from $3.57 billion in 2020 to $3.86 billion in 2023 at a compound annual growth rate (CAGR) of 8.1%. The growth in the woodworking machinery market is mainly due to the companies resuming their operations and adapting to the new normal while recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The woodworking machinery market is expected to reach $4.59 billion in 2025 at a CAGR of 4.5%.
Asia Pacific was the largest region in the woodworking machinery market in 2020. North America was the second-largest market in the woodworking machinery market. The regions covered in the woodworking machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of products in woodworking machinery are thickness planers, grinding machines, chain or chisel mortise, routers, wood lathes, and others. Thickness planers are used to chisel wood from the surface of boards to either make rough surfaces flat and smooth or to reduce their thickness. The different operating principles include mechanical, electrical and are available in online and offline sales channels. It is implemented in various verticals including furniture industry, construction industry, and others.
Woodworking Machinery Global Market Report 2023 – COVID-19 Growth And Change is one of a series of new reports from The Business Research Company that provide woodworking machinery market overviews, woodworking machinery market analyze and forecast market size and growth for the whole market, woodworking machinery market segments and geographies, woodworking machinery market trends, woodworking machinery market drivers, woodworking machinery market restraints, woodworking machinery market leading competitors’ revenues, profiles and market shares in over 1,000 industry reports, covering over 2,500 market segments and 60 geographies.
The report also gives in-depth analysis of the impact of COVID-19 on the market. The reports draw on 150,000 datasets, extensive secondary research, and exclusive insights from interviews with industry leaders. A highly experienced and expert team of analysts and modelers provides market analysis and forecasts. The reports identify top countries and segments for opportunities and strategies based on market trends and leading competitors’ approaches.
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Wood Processing Global Market Report 2023 – By Type (Sawmills, Wood Preservation), COVID-19 Impact And Recovery
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