Woodworking CNC Tools Market to Exhibit 6% CAGR through 2029
The construction industry has been insulated from the penetration of digital technologies in recent past. However, evolving workforce expectations and the dire need to achieve production efficacy are accenting the need for an automated shake-up in the industry to satiate the ever-growing demand for real estate and infrastructure. Moreover, the construction sector majorly comprises repetitive and physical tasks such as manufacturing, which is further creating a fertile environment for automation. Growing at a healthy pace, worldwide revenue of the woodworking computer numerical control (CNC) tools market will surpass US$ 2 Bn during the latter half 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.
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.
Cutters hold leading revenue share
Router bits to show noteworthy CAGR
Medium density fiberboards (MDF) remain the preferred wood type
Chipboards to see moderate traction
Surging adoption in cutting operations
Increasing usage in milling operations
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.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
Custom Market Research Services
FMI offers custom market research services that help clients to get information on their business scenario required where syndicated solutions are not enough.
Woodworking CNC Tools Market Analysis 2019-2029
A recent market study published by Future Market Insights (FMI) on the woodworking CNC tools market includes global industry analysis of 2014-2018 and opportunity assessment for 2019-2029, and delivers a comprehensive assessment of all the relevant market dynamics and macroeconomic analysis. Our analysts conducted thorough research on the historical as well as current growth parameters of the woodworking CNC tools market to obtain growth prospects with maximum precision.
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)
The report initiates with the summary of the woodworking CNC tools market, which includes a summary of the key findings and statistics of the market. Market taxonomy and definition are also covered in this section.
In this chapter, readers can find performance of region and global value statistics. Furthermore, they can also find here global market value from 2019 to 2029. Moreover, the team also covers global market volume for historical period (2014-2018) as well as forecast period (2019-2029).
In this chapter, readers can find competitive information such as market structure and share analysis. Furthermore, herein we have also incorporate the list of woodworking CNC tool manufacturers, suppliers, and distributors.
In this segment, readers can find the woodworking CNC tools market analysis by operation segment- milling, drilling, cutting, and profiling. Furthermore, in section 04, investors and stockholders can find segment specific volume and value. Apart from this, the team also mentioned regional basis price by tool type.
In this segment, readers can find woodworking CNC tools market value and volume statistics for router bits, insert knives, engraving tools, and cutters. Furthermore, readers can also find the segmental share analysis for each value and volume.
In wood type segment, the team has covered five types of wood- plywood, chipboard, MDF, HDF, and hardwood. This section includes market value and volume statistics for each type of wood.
This chapter includes a detailed analysis of the growth of the North America woodworking CNC tools market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis, regional trends, and market growth based on application and countries in North America.
Important growth prospects of the woodworking CNC tools market based on its end users in several countries such as the Germany, France, Italy, U.K., Russia, and Rest of Europe are included in this chapter.
This chapter highlights the growth of the woodworking CNC tools market in Asia Pacific by focusing on China, Japan, India, South Korea, ASEAN, Oceania, and Rest of Asia Pacific. This section also helps readers understand the key factors that are responsible for the growth of the woodworking CNC tools market in Asia Pacific.
This chapter highlights the growth of the woodworking CNC tools market in Middle East & Africa by focusing on GCC, Turkey, Egypt, South Africa, and Rest of MEA. This section also helps readers understand the key factors that are responsible for the growth of the woodworking CNC tools market in the Middle East & Africa.
In this chapter, readers can find a comprehensive list of all the prominent stakeholders in the woodworking CNC tools market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Robert Bosch GmbH, Vortex Tool Company Inc., Amana Tool Corporation, ITAL Trade Srl., CMT Orange tools, Sistemi Klein, YASH Tooling System, AXYZ Automation Group, GDP|GUHDO, T-Tool USA LLC, vhf camfacture AG, BCAM CNC MACHINE, Think & Tinker, Ltd., Rockler Companies, Inc., and Karnasch Professional Tools GmbH.
This chapter includes a detailed analysis of the growth of the global woodworking CNC tools market, along with segment and region-wise assessment. Readers can also find global market value and volume analysis of the respective segment.
In this chapter, our veteran analyst covered global market drivers, restraints, trends, and opportunities. Furthermore, readers can find relevant product specific information coupled with economic market drivers.
In this section, we have covered market value chain, forecast factors, macroeconomic factors such as Wood Production and Tree Cover, Overview of Global Shipbuilding Market, among others.
Herein, investors or stockholders can find the most interesting facts and trends such as supply-side trends and demand-side trends. Furthermore, in this section, readers can find the overall market approach and differentiating strategy.
In this chapter, our team has included the flow chat of research methodology, primary survey analysis. Furthermore, in the next slide, our team has covered the global market validation process. Moreover, this chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the woodworking CNC tools market report. Moreover, this chapter also help readers understand the research methodology followed to obtain various conclusions as well as important qualitative and quantitative information about the woodworking CNC tools market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Raw Material Suppliers
- Industry Experts
- End Users
- Current market dynamics and challenges
- Yesteryear trends
- Market characteristics
- Market performance and growth quadrants
- Competition structure and market structure
- Strategic growth initiatives
- Near-term and long-term market growth prospects
- Market segment splits and authenticity
- Opinions on market projections and validity of assumptions
- Industry Publications
- Industry Associations
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
- Trade Websites
Primary Interview Splits