Growth of Construction to Create New Opportunities
According to a recent report, major economies like the US, China, and India are expected to invest significantly in infrastructure developments to double growth of the construction sector by 2030. Additionally, various economies around the world are investing in better infrastructure with investments in housing, highways, ports, bridges, and various other public initiatives. The growth of construction is expected to be a major boon for the woodworking machines market. Additionally, trends like automated in woodworking can also reduce costs significantly. Lack of trained experts continues to pose a challenge to growth of woodworking machine market. However, new tutorials online and courses are expected to advanced skill training programs in the market.
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Rise in Demand for Wooden Furniture to Drive Growth
Woodworking machines market is expected to witness major growth in the near future, thanks to rising innovation in wooden aesthetics, tremendous growth in construction, and trends like DIY. The increased innovation in the market are making ways for more pleasing wooden designs, with more variety in wooden furniture, while simultaneously reducing conventional risks of termite attacks, and water spoilage. The increasing reliability of wooden furniture is apparent in homes and offices, wherein the furniture often provides familiarity, a soothing calm of nature, and robust use in heavy-duty applications. The growth woodworking machines market is expected to drive significant growth as new startups continue to prefer wooden furniture with stylish designs over plastic furniture which can uncomfortable and lack prestige.
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DIY Trend to Become a Major Growth Driver
Despite some challenges in growth of wooden artefacts in commercial projects, trends like DYI are expected to make up for growth in major markets like the US. Rising demand for wood working machines in homes for pursuing hobbies are expected to open new channels for growth in the Woodworking machines market.
Woodworking Machines Market – Introduction
Woodworking machines is a wood machine, usually powered by electric motors which are used to process and shape wood into the desired dimensions. It is also used to eliminate huge wastage of wood, so as to deliver high quality products to meet the need the consumers.
Woodworking machines are classified according to the type of work they perform such as bending, woodcutting, cementing, and finishing machines. Wood working machines can perform these functions by using different kinds of woodcutting tool, so as to separate certain part of wood on these machines in order to produce parts or products of predetermined shape and size.
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Woodworking Machines Market – Company profile
Incorporated in 1952, SCM Group is a prominent global company that operates across four continents and has more than 4,000 employees. The company engages in the manufacture and processing a wide range of machinery and industrial equipment with variety of materials such as metal, plastics, glass, stone, wood and composites. The company’s machinery and industrial equipment are used across different sectors including construction, furniture, automotive, ship-building, aerospace, and plastic processing.
HOMAG Group is the leading provider of integrated solutions with around 6500 employees, for providing integrated solutions to woodworking shops and woodworking industry. The company has global presence in more than 100 countries and offers high-tech machines and systems with the corresponding control software in order to cater to the customers need. Moreover, the products of HOMAG Group are utilized across various sectors including construction, furniture production, and timber house construction.
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Established in 1918, Paolino Bacci is a prominent manufacturer of woodworking machines based in Italy. Additionally, the company began to specialize in the production of woodworking machines in the 1950s. Bacci has recently developed a complete 5-axis and multi-axis computer numerical control (CNC) machining center, equipped with operating software and latest technology.
Key players operating in the woodworking machines market include Paolino Bacci, Biesse Group, Michael Weinig AG, Dürr AG, SCM GROUP S.p.A., ROJEK Woodworking Machinery, HOMAG Group, Dura Wood Working Machinery Industry & Trade Company Ltd., Otto Martin aschinenbau GmbH & Co. KG, Masterwood SpA, and Oliver Machinery Co.
Woodworking Machines Market – Dynamics
Increasing adoption of automated woodworking machines across the globe
Rapid and continuous rise in the demand for furniture and craft and expansion of construction industries in developing countries of Latin America, Middle East & Africa and Asia Pacific, are propelling the demand for woodworking machines. Moreover, increasing demand for engineered wood and wooden furniture in construction and furniture industries is expected to boost the global woodworking machines market during the forecast period. Furthermore, rise in the number of commercial and residential buildings to meet the demand of customers coupled with the increasing preference of residents toward superior esthetic appearance of their building structure is expected to drive the woodworking machines market. Additionally, growing preference for automation and woodworking machines to manufacture products that are precise, attractive, and enhance overall efficiency and productivity is expected to drive the demand for woodworking machines.
High initial cost of woodworking machines and maintenance expenditure of woodworking machines is a major factor hampering the global woodworking machines market. Moreover, lack of skilled labor is expected to restrain the woodworking machines market.
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Woodworking Machines Market – Segmentation
The global woodworking machines market can be segmented based on:
- Operating Principal
- Product Type
- Sales Channel
Woodworking Machines Market Segmentation – By operating principal
Based on operating principal, the woodworking machines market can be bifurcated into:
Woodworking Machines Market Segmentation – By Product Type
Based on product type, the woodworking machines market can be classified into:
- Thickness planer
- Grinding machines
- Chain/chisel mortise
- Wood lathes
- Others (saw, drills, etc.).
Woodworking Machines Market Segmentation – By End- use
In terms of end-use, the woodworking machines market can be divided into:
- Locomotive (Railway)
Woodworking Machines Market Segmentation – By Sales Channel
Based on sales channel, the woodworking machines market can be split into:
- Offline i.e. retail stores