A woodworking router is hand or power tool that routs or hollows out an area in a hard material such as wood or plastic. Usually routers are handheld or fastened with the cutting end up, in router tables. Router bits are the cutting tools that are attached to the router to cut the material being cut. The bit cuts the material to form a groove or hollow out an area according to the job specifications. Router bits come in many different types. The profiles that can be created by a router are as follows: chamfer, v-groove, cove, round nose, rabetting, dado, round over, dovetail, roman ogee, beading and others. Anti-kick back bits employ added non-cutting bit material around the circumference of the bit’s shoulders to stop the workpiece from being pushed too deeply into the bit and thus stops the kickback from the cutting edge significantly. The thicker the bit, the stiffer it is which means the vibration is less and the cut is smoother. Also, the chances of breakage of the bit is lesser. The bit shank and router collet sizes should match otherwise either the bit shank or the collet or both can get damaged or the bit might come loose from the collet.
COVID-19 scenario analysis:
- COVID-19 pandemic has shut-down the production of various products in the global woodworking router bits industry, mainly owing to the prolonged lockdown in major global countries. This has hampered the growth of global woodworking router bits 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 would 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, Trends , Drivers and Impact Analysis
Router bits can be used on almost all wood types of wood material such as plywood, chipboard, medium-density fiberboard (MDF), hardwood and others. Carbide-tipped woodworking router bits have longer life and can be used for several applications. Carbide material offers better performance and extended service life, almost 15-20 times that of regular high-speed steel (HSS) tools for woodworking operations. Carbide bits also have excellent temperature resistance properties. Hence carbide-tipped bits give more value to manufacturers and are more popular these days. At present, a significant chunk of the revenue of the woodworking router bits market is realized by straight router bits. Grooving is one of the most important operations for which routers are used.
Increase in demand for built wooden houses, the growing popularity of automated woodworking machines and increasing end user demand from middle class customers to replace old furniture and rehabilitate their office and house are the factors that drive the global woodworking machinery market. However, the decrease in wood supply and high price of timber are the major restraining factors for market growth.
The global woodworking market trends are as follows:
Increased demand for fabricated houses and engineered wood
The increase in demand for well designed, elegant houses and the use of engineered wood therein is expected to contribute significantly for the growth of woodworking router bits market. As global population and urbanization increases, so does the number of residential and commercial buildings. The demand for aesthetically pleasing woodwork, furniture and housing is increasing as the disposable income of the middle class consumer around the world is increasing. According to data of United Nations (U.N) more than 54% of global population is living in urban areas. Along with domestic furniture, hospitality sector and corporate sector also have increasing demand for woodwork and furniture as they require to update their beautification periodically.
Growing expansion of furniture output by furniture industry
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%. Other factors are the “100 Smart Cities Mission” launched by Ministry of Urban Development, Govt of India in 2015 and high amount of FDI in the sector. Another particularly important factor that is helping in growth of furniture industry all over the world is the increasing availability of furniture on e-commerce platforms. E-commerce platforms are growing more popular day by day and more and more end users are using this platform over the traditional market space to order furniture. This helps in the inventory and distribution planning of the furniture manufacturers. Personalization of orders is growing increasingly possible and popular and that is also helping in revenue generated for furniture manufacturers.
Key benefits of the report:
- This study presents the analytical depiction of the Global Woodworking Router Bits Market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the Woodworking Machinery Market.
- The current market is quantitatively analyzed to highlight the Woodworking Router Bits Market growth scenario.
- Segmentation details of the Woodworking Machinery market.
- The report provides a detailed Global Woodworking Router Bits Market analysis based on competitive intensity and how the competition will take shape in coming years.
Woodworking Router Bits Market Report Highlights
By Product Type
By End Use