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Global Woodworking Machinery Market: Global Opportunity Analysis and Industry Forecast, 2020–2027

A07619
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Dec 2020 | 71 Views
 
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COVID-19

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Woodworking machinery is defined as the machinery that is used to process wood and perform various operations on raw wood materials and convert them into desired finished products. These machines are employed in small-scale commercial production units that are mainly focused on timber products. The type of machines can be classified into two categories—one is the stationary machine in which the machine is stationary and the material is moved on the machine in the shape that is desired, second is the non-stationary machine in which the material is fixed and the machine is moved on the material to get the desired product. The finished products may be doors, windows, slabs, boards and many others. Woodworking machines originated from England in the 18th century and are extremely essential for production of furniture. The majority of the woodworking machines are electrically driven and a small percentage of them are hydraulically driven. The size of the machines varies with the application that they are being used for. Some examples of woodworking machinery are jointers, shapers, saws, routers and others.

Market scope and structure analysis:

                    Report Metric

                                               Details

  Market size available for years

  2019–2027

  Base year considered  

  2019

  Forecast period

  2020–2027

  Forecast units

  Value ($Million)

  Segments covered

  Product type, operating principle, end use, and region.

  Geographies covered

North America (U.S., Mexico, and Canada), Europe (Germany, UK, France, Italy, and the Rest of Europe), Asia-Pacific (China, Japan, India, Australia, and the Rest of Asia-Pacific), LAMEA (Latin America, Middle East, and Africa)

  Companies covered

Major players analyzed include KTCC Woodworking Machinery, Durr,  Cantek America, Gongyou Group, SCM Group, Holytek Industrial Corporation, BiesseGroup, IMA-Schelling, WEINIG Group, and Oliver machinery

 

COVID-19 Scenario analysis:

  • COVID-19 pandemic has shut-down the production of various products in the woodworking machinery industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of the woodworking machinery market significantly from last few months, as is likely to continue during 2020.
  • COVID-19 has already affected the sales of equipment and machinery in the first quarter of 2020 and is likely to cause a negative impact on the market growth throughout the year. 
  • The major demand for equipment and machinery was previously noticed from giant manufacturing countries including the U.S., Germany, Italy, the UK, and China, which is badly affected by the spread of coronavirus, thereby halting the demand for equipment and machinery.
  • Further, potential impact of the lockdown is currently vague and financial recovery of companies is totally based on its cash reserves. Equipment and machinery companies can afford a full lockdown only for a few months, after which the players will have to modify their investment plans.
  • Equipment and machinery manufacturers must focus on protecting their workforce, operations, and supply chains to respond toward immediate crises and find new ways of working after COVID-19 infection cases start to decrease.

Top impacting factors: Market Scenario Analysis, Drivers and Impact Analysis

Increase in demand for built wooden houses, increased adoption of automated woodworking machines and emphasized focus of customers to replace old furniture and rehabilitate their office and house are the factors that drive the global woodworking machinery market. The demand for prefabricated wooden houses is quite high and increasing. People have started giving more preference to build wooden houses as these can be built very quickly and they can be used as portable houses, which people can take to any trips along with them and an additional advantage being eco-friendly and efficient.
However, decrease in wood supply and high prices of timber hinder the market growth. Contrarily, investments in automation, launches of new and advanced equipment, requirement for innovative and automated woodworking machinery present new pathways in the industry.

The global woodworking market trends are as follows:

Increased demand for fabricated houses and engineered wood

The increase in demand for fabricated houses and engineered wood is expected to contribute significantly toward the growth of the woodworking machinery market. A hike in the number of residential and commercial buildings along with the preference of many people toward the aesthetic look of their building is anticipated to boost the growth of the woodworking market.

Increased demand for robotic manufacturing units

Increased preference toward automated manufacturing units to multiply the productivity and improve the overall efficiency can eventually increase the demand for woodworking machinery in the upcoming years. Automatic woodworking machines are another technological innovations in the woodworking machinery market. Due to the widespread technological upgradation, instead of manually operating machines, industries are adopting robots for operations, which can increase the safety and save the time for an operator.

Automation has created a special path for technologyfor woodworking sectors. Consumer’s wants and demands are going up day by day, by observing that woodworking industries have started using new technology so that it can increase theaccuracy and efficiency of production to provide exceptional final products that are very attractive. A German study have reported record production of woodworking machinery products which generated $3.63millions in 2019 from which we can easily understand the potential of this market to generate high returns and revenues to the manufacturers.

Growth in furniture industry

The significant positive growth observed in furniture industry is expected to definitely influence the woodworking machinery market. For instance, according to data released by Central Statistics Office, India the furniture industry has expanded 2.8% and in comparison to the previous month of January it has increased by 9.2%. Among the top production industries like basic metal industry, electricity and power industry, mining industry the furniture industry had a slower growth rate compared to its previous years but the productivity and output has been booming gradually which shows positive signs for the investors and business persons who are willing to enter into this market.

Key segments covered:

                Segments

                                   Sub-segments

  Product Type

  • Grinding Machines
  • Routers
  • Planers
  • Drills
  • Saws
  • Others

 

  Operating principle

  • Electrical
  • Mechanical

 

  End use

 

  • Furniture industry
  • Construction industry
  • Others

 

 

Key benefits of the report:

  • This study represents the analytical representation of the global woodworking machinery marketcombined with the ongoing trends and future predictions to determine investment opportunities.
  • The present market is thoroughlyanalyzed from 2019 to 2027 to enlighten the woodworking machinery market growth.
  • The report gives the information regarding to important drivers, restraints, and opportunities provided with an in depth analysis of the woodworking machinery market.
  • Segmentation details of the woodworking machinery market.
  • The report gives a comprehensiveglobal woodworking machinery market analysis based on competitiveness and how the performance of the competitors will take shape in the coming years. 
 
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