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The global woodworking machinery market size was valued at USD 4.72 billion in 2022. The market is projected to grow from USD 4.86 billion in 2023 to USD 6.80 billion by 2030, exhibiting a CAGR of 4.9% during the forecast period.
Woodworking machinery processes raw wood materials into several products such as beams, plywood, and boards, for structural applications across furniture, shipbuilding, and others. The increasing adoption of automated woodworking machines and precise engineering in manufacturing processes is expected to drive market growth. These machines are flexible for the users in the entire production lifecycle of wood products.
The usage of prefabricated wooden houses is a growing trend in the market. Manufacturers across countries are majorly emphasizing Cross-Laminated Timber (CLT) to develop wooden houses. It is gaining popularity across the U.S., Italy, Austria, France, and other countries. Additionally, the changing lifestyle and the high demand for customized wooden products will likely drive market growth.
Interrupted Supply Chain and COVID-19 related Restrictions Hampered the Manufacturing Processes
The COVID-19 pandemic has significantly impacted every woodworking industry, manufacturing, and retail aspect. A survey conducted by the Wood Component Manufacturers Association (WCMA) stated that the pandemic's impact would be long-term, and the manufacturers should explore new product options. The most reported problems included interruptions in the supply chain, border closings, and increased border controls, the decline in domestic and foreign demand, and retail closings.
The North American woodworking industry consisting of manufacturers and retail services faced serious impacts, with nearly 3% of manufacturers believing in a permanent business shutdown. Moreover, Acimall, the Italian Woodworking Technology Association, stated that the first quarter of 2020 showed a widespread reduction of machinery orders with a double-digit decrease across every emerging and established international markets.
The U.K. timber importers halted orders due to supply chain disruption. Owing to this, the timber and wood trading market is at the lowest level in European countries. Considering these points, it was projected that the global market will observe a considerable downfall till the first half of 2021. However, wood, timber institutions, and government actions to support the industry will be critical in the future ahead.
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Accelerated Utilization of Prefabricated Wooden Houses to Propel Market Growth
The utilization of prefabricated wooden houses is a growing trend in the woodworking industry as the timber material helps in less emission of CO2, thus, providing energy-efficient nature compliant with environmental regulations. Prefabricated wooden houses reduce material usage and increase production efficiency. Considering this point, several manufacturers across Germany, the U.S., the U.K., and Finland actively offer prefabricated wood houses such as bungalows, and garages.
India has been witnessing strong economic development in the construction industry. This is expected to contribute to the global market growth in the forthcoming years.
Increasing Adoption of Precise Engineering to Aid Market Growth
In the past few years, a mixed alternative approach, i.e., using CNC machines to aim for the highest precision in manufacturing superior quality wood products, has increased the woodworking machinery market share. Manufacturers such as Gongyou Group Co., Ltd., and IMA Schelling Group GmbH offer cut-to-size, precision saws and panel saw series for wooden materials. Additionally, the manufacturers emphasize the advancement due to the customized requirements of wooden products across public and private end-users.
For instance, in 2019, Biesse Group started to automate 5-axis heads, a woodworking machine in its production line, to reduce travel time and increase the machine precision on assembly lines. The rising consumer disposable income across Brazil, Mexico, India, and China also supports market growth. Therefore, the increasing adoption of precision engineering across the woodworking industry will likely boost the market growth.
Health Hazards in Machinery Manufacturing Units are Hampering the Market Growth
Woodworking machinery utilized in production is hazardous when handled improperly. Hence, health and safety cannot be ignored across production facilities. Health hazards such as exposure to unguarded machinery, wood dust, noise, toxic finishes, and non-ergonomic handling negatively impact the health of the workers, leading to serious concerns.
Woodworking machinery operations that consist of table saw, circular saw, and planer operations hold the worst safety records for workers, according to the U.K. Health and Safety Executive (HSE), approximately 35% of accidents that occur involve circular or table saws. These factors are hampering the market growth.
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Utilization of Multiple Lathe Machines to Drive Lathe Segment
Based on type, the market is categorized into lathe, planer, saw, and others.
The lathe segment is expected to hold the highest market share during the forecast period. This is due to advanced CNC lathe machines and working centers for wooden door processing to plane the wood surfaces.
The planer segment is expected to experience the highest CAGR attributed to the increasing adoption of high-efficiency and lightweight planer machines.
Other segments, such as saws, jointers, and sanders, are expected to showcase steady market growth. Saw machinery, in particular, is anticipated to witness considerable growth owing to its utilization in curving wooden objects. Additionally, the increasing adoption of portable table saw propels its growth during the forecast period.
Growing Demand for Engineered Wood to Favor Growth of the Furniture Segment
The market is segmented into construction, furniture, and others based on application.
The furniture segment is expected to hold the highest market share due to the increase in the preference of consumers for attractive looks. Additionally, several unorganized players utilize wooden objects such as pulpwood, sawn wood, wood pallets, and others in commercial and residential applications to improve the aesthetic experience.
The construction segment is anticipated to showcase exponential growth owing to the increasing disposable income across developing countries.
Europe Woodworking Machinery Market Size, 2022 (USD Billion)
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Based on region, the market is segmented into North America, Europe, Asia Pacific, the Middle East & Africa, and South America.
Europe is expected to remain dominant during the forecast period. This is due to the presence of established woodworking machinery manufacturers across countries such as Italy, Germany, and the U.K. The Food and Agriculture Organization (FAO) stated that the production and consumption of sawn wood in Europe is projected to reach 201 cubic meters, with an average annual change of 104% between 2020 and 2030.
Germany to Hold the Largest Share as Manufacturers Focus on Adopting Smart Manufacturing
Germany is one of the leading woodworking machinery manufacturing countries across Europe. Manufacturers such as SCM Group, Dürr Group, and SOCOMC S.R.L., have strong manufacturing facilities and well-established export businesses in the country. In addition to this, leading manufacturers such as Biesse Group, IMA Schelling Group GmbH, and others are restructuring their business strategies across Germany to focus on smart manufacturing and upgrading future production processes.
North America is expected to witness substantial growth attributed to timber utilization and the adoption of Cross-Laminated Timbers (CLTs) to manufacture houses and commercial buildings across the U.S. and Canada.
Asia Pacific is expected to showcase the highest CAGR during the forecast period. The growth is attributed to the growing population rate, households, consumer needs, and consumption of forest products by the end-users. Moreover, countries such as India, China, and other Southeast countries are initiating policies to boost the market for small and mid-sized manufacturers.
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The export of forest products has shown significant growth in the past few decades across the Middle East & Africa and South America regions. This is influencing the market growth. The consumption of forest products has increased across Saudi Arabia and other countries.
Key Players Focus on Incorporating Digital Solutions to Brighten Their Market Prospects
Key players such as Biesse Group, HOLYTEK INDUSTRIAL CORP., IMA Schelling Group GmbH, SCM Group, Dürr Group, Gongyou Group Co., Ltd., and Oliver Machinery Company are focused on developing digitization, Industry 4.0, and Industrial Internet of Things (IIoT) measurements to cater to the customized demands from end-users. For instance, Dürr Group has adopted digital transformation for customers and includes Industry 4.0 and IIoT platform-based smart analytics software to carry out Smart Factory processes.
An Infographic Representation of Woodworking Machinery Market
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The report provides a detailed analysis of the global market and focuses on key aspects such as leading companies, product/service types, and leading end-use industries. Besides this, the report offers insights into the global woodworking machinery industry trends and highlights the key industry developments. Additionally, the report encompasses several factors that have contributed to the market growth in recent years.
ATTRIBUTE | DETAILS |
Study Period | 2019 – 2030 |
Base Year | 2022 |
Estimated Year | 2023 |
Forecast Period | 2023 – 2030 |
Historical Period | 2019 – 2021 |
Growth Rate | CAGR of 4.9% from 2023 to 2030 |
Unit | Value (USD billion) |
Segmentation | By Type, Application, and Region |
By Type |
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By Application |
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By Region |
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Fortune Business Insights says that the market stood at USD 4.72 billion in 2022.
Fortune Business Insights says that the market will reach USD 6.80 billion in 2030.
Growing at a CAGR of 4.9%, the market will exhibit considerable growth during the forecast period.
Lathe segment is expected to lead during the forecast period
Precise engineering is expected to drive the market.
Biesse Group, HOLYTEK INDUSTRIAL CORP., SCM Group, Dürr Group, and Gongyou Group Co., Ltd. are the top companies in the market
Accelerated utilization of prefabricated wooden houses is a key trend in the global market
The furniture segment is expected to hold the highest market share
The planer segment is expected to grow significantly at the highest CAGR.
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