Woodworking Router Bits Market Size to Expand 1.6 X by 2029
Governments all over the world are increasing their expenditure on construction & infrastructure in order to boost the economy and catalyze growth & development. With evolving workforce expectations in tandem with rising need for production efficacy, industry leaders are turning to handheld and portable devices. These activities are auguring well for the woodworking router bits market, which will witness around 1.6 value inflation by 2029. According to our new FMI study, the market is anticipated to expand at a CAGR of 4.7%.
Frequently Asked Questions about Woodworking Router Bits Market
How will the growth outlook be for the woodworking router bits market?
Woodworking router bits are estimated to witness rise in demand as tools for drilling, milling, cutting, profiling, engraving, and carving in woodworking processes. These are one of the most preferred carbide tools for woodworking applications, owing to their effectiveness and accuracy. Router bits are available in two types - handheld and CNC-based; however, the purview of this report only covers handheld router bits.
Which application in woodworking router bits holds potential opportunities for market players?
Grooving holds half of the share of the global woodworking router bits market. As one of the significant applications in woodworking, the segment is projected to witness highest growth during the forecast years. Grooving is applicable to almost all wood types such as plywood, chipboard, MDF, HDF, and hardwood, making these router bits suitable for various operations.
What is the degree of competition in the woodworking router bits market?
The woodworking router bits market is becoming increasingly competitive, with prominent market players holding nearly half of the market share. In the current scenario, key market participants such as Robert Bosch GmbH, Stanley Black and Decker, Kanefusa Corporation, Amana Tool Corporation, CMT Utensili SpA, and a few others are estimated to account for around half of the market share.
Which region will lead the global sales of woodworking router bits?
Asia Pacific remains at the forefront of the global woodworking router bits market, owing to flourishing residential and commercial construction activities in developing countries such as India and China, among others. Asia Pacific, followed by Europe, is anticipated to have a prominent share in the global woodworking router bits market, owing to flourishing architectural heritage and increasing construction activities.
Opportunities Hover around Grooving Operations
Gains in the woodworking router bits market would be realized by grooving operations, which will capture nearly half of overall market stack. Their applicability in almost all wood types such as plywood, chipboard, medium-density fiberboard (MDF), and hardwood is reflecting value-capture prospects for manufacturers. Moreover, the adoption of woodworking machines in grooving operations is likely to surge at a promising pace. Although they hold a relatively lower market share, manufacturers are also unlocking revenue streams from cutting and jointing & rebating operations.
APAC Market Continues its Hegemony
Capturing around 2/5 of total market value, manufacturers in the woodworking router bits market continue to unlock opportunities of growth and profitability in Asia Pacific (APAC). China, and India are spearheading the regional market, primarily attributable to investment upsurge in construction and infrastructure development projects. Similar trends are shaping market growth in Europe and North America, which collectively procure around half of overall demand. This study further emphasizes that, the U.S. represents the most lucrative woodworking router bits market.
Turning to Carbide for Better Operational Efficiency
Manufacturers of woodworking router bits must focus on retooling every facet of their approach in an effort to enhance project value, and, in turn, make capital allocations more effective. This strategic transformation includes usage of carbide-tipped woodworking router bits for several applications. Carbide material offers better performance and extended service life - 15-20X that of regular high-speed steel (HSS) tools - for woodworking operations. Excellent temperature resistance of carbide tools are further broadening their adoption in an extensive range of operations.
High demand for straight router bits
Rabbeting to showcase noteworthy CAGR
Surging adoption in grooving operations
Moderate application in cutting operations
1/2" size holds leading revenue share
1/4" size to gain stable traction
How Growth will Unfold
At present, a significant chunk of the revenue of the woodworking router bits market is realized by straight router bits. However, straight router bits will see stagnancy in their adoption in due course of time to other woodworking tool types. During the latter half of the forecast period, rabbeting tools are likely to outpace straight router bits. Market players are also targeting flush trim and edge making router bits for further value-capture opportunities. These router bits account for a collective share of over 20% of total market revenue.
* This data is only a representation. Actual data may vary and will be available in report.
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Overview
Woodworking Router Bits Market Analysis 2019-2029
A recent market study published by Future Market Insights (FMI) on the woodworking router bits market includes global industry analysis of 2014-2018 and opportunity assessment for 2019-2029, and delivers an assessment of the market dynamics. After thorough research on the historical as well as current growth parameters of the woodworking router bits market, the growth prospects of the market are obtained with maximum precision. In the scope of research, we have included only carbide-tipped router bits for woodworking applications.
Woodworking Router Bits Market Taxonomy
Operation
- Jointing & Rebating
- Cutting
- Grooving
Shank Size
- 1/2"
- 1/4"
- 3/8"
- 3/4"
- 5/8"
- 5/16"
Tool Type
- Rabbeting Bits
- Door/Window Making Router Bits
- Flush Trim Router Bits
- Edge Making Router Bits
- Grooving Router Bits
- Slot Making Router Bits
- Spiral Router Bits
- Straight Router Bits
- Others (Chamfer, Bead, Dove Tail, Thumbnail, Molding, Round Over, Flat Rounding, Ogiee, Cove, Stile)
Region
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
What's Included
This chapter includes market segments, key manufacturers analyzed during course of research, objectives, scope of the research, and time period slated in the report.
In this chapter, readers can find the complete market size by volume and value perspectives and overall breakdown of the market by region.
In this chapter, readers can find the complete market size by volume and value perspectives and overall breakdown of the market by region on the basis of manufacturing data.
This section explains the global market value analysis and forecast for the woodworking router bits market for the period of 2019-2029 and segmental breakdown by tool type. This chapter includes a detailed analysis of the pricing analysis on the basis of tool type.
This section explains the global market value analysis and forecast for the woodworking router bits market for the period of 2019-2029 and segmental breakdown by operation. This chapter includes a detailed analysis of the pricing analysis on the basis of operation.
This section explains the global market value analysis and forecast for the woodworking router bits market for the period of 2019-2029 and segmental breakdown by shank size. This chapter includes a detailed analysis of the pricing analysis on the basis of shank size.
This chapter includes a detailed analysis of the growth of the North America woodworking router bits market, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find the pricing analysis and market growth for the region here.
This chapter provides the growth scenario of the woodworking router bits market in countries such Germany, France, Italy, the U.K., Russia, and Rest of Europe.
This chapter provides the growth scenario of the woodworking router bits market in South American countries such as Brazil and Rest of South America along with targeted segments.
This chapter provides the growth scenario of the woodworking router bits market in countries such as China, Japan, India, South Korea, ASEAN Countries, Oceania, and Rest of Asia Pacific.
Important growth prospects of the woodworking router bits market based on its operators and regions in Middle East and Africa are included in this chapter. It also describes the performance of the woodworking router bits market in prominent countries in regions such as GCC Countries, Turkey, Egypt, South Africa, and Rest of MEA.
Some of the market players featured in the report are Robert Bosch Tool Corporation, Stanley Black and Decker, CMT Utensili SpA, Amana Tool Corporation, Freud Tools, and Vortex Tool Company Inc. to name a few.
The woodworking router bits market is segmented on basis of region into North America, Europe, South America, Asia Pacific, and Middle East and Africa (MEA). Market forecast is based on operation (segmented into jointing & rebbating, cutting, and grooving), shank size (segmented into 1/2", 1/4", 3/8", 3/4", 5/8" & 5/16"), tool type (online and offline), and end-use industry (segmented into Rabbeting, Door/Window Making Router bits, Flush Trim Router Bits, Edge Making Router Bits, Grooving Router Bits, Slot Making Router Bits, Spiral Router Bits, Straight Router Bits, and Others (Chamfer, Bead, Dove tail, Thumbnail, Molding, Round over, Flat rounding, Ogiee, Cove, stile)). The section further describes about the market forecast of each of the aforementioned regions.
This chapter explains key market drivers, challenges, trends, and opportunities that are expected to influence the growth of the woodworking router bits market during the forecast period. Moreover, in-depth information about the macroscopic indicators of the market have been provided in the section.
This section highlights the value chain and sales chain analysis for the woodworking router bits market. Moreover, in-depth information about sales channel and distributors on the market has been provided in the section.
This chapter helps the reader analyze demand and supply side trends in the market.
This chapter helps the reader to understand the methodology use to conclude global value analysis and forecast for the woodworking router bits market. This section also states about the primary survey analysis that has been conducted during course of research. This chapter helps the reader to understand the methodology use to conclude global value analysis and forecast for the woodworking router bits market. This section also states about the primary survey analysis that has been conducted during course of research. This chapter includes a list of acronyms and assumptions that provides a base to the information and statistics included in the woodworking router bits market report.
How the research was conducted?
Primary Research
- C - Level Executives
- Marketing Directors
- Product Managers
- Business Development Officers
- Production Managers
- Procurement Heads
- Sales Executives
- Distributors
- Traders
- Raw Vehicle Type Suppliers
- Industry Experts
- 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
Secondary Research
- Industry Publications
- World bank
- IMF
- Industry Associations
- Factiva
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Web Applications and Publications
- Trade Web Applications
Primary Interview Splits
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