Manufacturers to Seek Potential in Cutters and Router Bits
Capturing about half of the total woodworking CNC tools market stack, manufacturers would prioritize capital investments in cutters. Under the tool category, finger joint and single flute cutters are the prominent equipment. Router bits, especially the 1/2" variant, are also finding immense use in Do It Yourself (DIY) projects and industrial use cases. Further, while cutters are suitable for cutting & grooving and surface finishing operations, woodworking router bits are suitable for milling and edge trimming operations.
Market Consolidation in APAC Stays Atop
Procuring a significant chunk of market value, manufacturers continue to eye Asia Pacific (APAC) for accelerated margin growth. Represented by China and India, notable spike in construction and infrastructure investments are attracting players in the woodworking CNC tools market. In addition, these countries are embracing state-of-the-art technologies for production upsurge to deal with labor-wage inflation.
By 2025, the woodworking CNC tools market in APAC would represent a multibillion-dollar opportunity. Further, manufacturers of these woodworking machines are expecting relevant value-capture prospects in Europe, owing to the increasing prevalence of luxury furniture and 3D-designing techniques in the region.
3D Printing Technology to Shape Future Landscape
3D printing (additive manufacturing) is remodeling the manufacturing processes in the construction sector, thereby opening up a plethora of new possibilities. With technology, construction has become more about assembling components than developing something on-site. Combined with business information modelling (BIM), 3D printing offers market players a platform to ensure cost- and time-efficiency, as well as enhance brand reputation with a greener output. With the industry growing at an astounding pace, 3D printing would spur the woodworking CNC tools market by enabling customization.
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How Growth will Unfold
Medium-density fiberboard (MDF) wood is ideal for applications such as cabinetry making and wooden floor making. In addition, their benefits of consistency, smooth finish, machinability, and strength are broadening their application in manufacturing speaker boxes.
Combined, these factors are contributing to the revenue growth of MDF in the woodworking CNC tools market. Preferred for its excellent durability and fire resistance, hardwood is also gaining huge attention of manufacturers, and would cross the half billion mark by the end of the forecast period.
FREQUENTLY ASKED QUESTION ABOUT WOODWORKING CNC TOOLS MARKET
What is the growth outlook of the woodworking CNC tools market?
The global woodworking CNC tools market is projected to exhibit a healthy growth rate over the coming years, owing to the increasing adoption of automatic woodworking machinery. Nowadays, woodworking machinery is capable of performing operations on wood of small as well as large sizes, which, in turn, is anticipated to open new growth avenues in the global market.
Which tool has sizable potential in the global woodworking CNC tools market?
Router bits and cutters are two segments that are expected to hold leading shares in the global woodworking CNC tools market. With router bits, operations such as milling and edge trimming can be performed efficiently. On the other hand, with cutter tools, cutting & grooving and surface finishing can be performed efficiently.
Which wood is best-suited for woodworking CNC tools?
Woodworking CNC tools can efficiently perform various operations on plywood, chipboard, MDF, HDF, and hardwood. The MDF segment is projected to hold significant share throughout the forecast period. Furthermore, MDF wood is suitable for cabinetry making and wooden floor making, among others.
What is the degree of competition in the woodworking CNC tools market?
The woodworking CNC tools market is characterized as highly fragmented, due to the presence of numerous players. In the current scenario, industry leaders such as Robert Bosch GmbH, Vortex Tool Company Inc., Yash Tooling System, GDP|GUHDO, and Rockler Companies, Inc., among others, account for 10-15% of the total revenue share.
Which region will lead the global sales of woodworking CNC tools?
Asia Pacific is expected to lead the global woodworking CNC tools market, owing to the high consumption of wood furniture in countries such as India and China, among others. Furthermore, Europe is pegged to be the second-largest region in the global woodworking CNC tools market, owing to the continuous demand for luxury furniture and 3D-designing in the region.
WOODWORKING CNC TOOLS MARKET TAXONOMY
- Router Bits
- Insert Knives
- Less than 0.3"
- More than 0.6"
- Engraving Tools
- Single Flute Cutters
- Finger Joint Cutter
- Grooving Cutting
- MDF (Medium Density Fiberboard)
- HDF (High Density Fiberboard)
- North America
- South America
- Asia Pacific
- MEA (Middle East & Africa)