Woodworking Machines Market 2020-2024: Forecasting Strategy to Undergo a Paradigm Shift From Crisis to New Normal During COVID-19 Pandemic | Technavio

Technavio has announced its latest market research report titled Global Woodworking Machines Market 2020-2024 (Graphic: Business Wire)

LONDON--()--The woodworking machines market will witness an incremental growth of USD 679.38 million during 2020-2024, according to the latest pandemic recovery-based research report by Technavio. Factors such as imposition of worldwide lockdowns have partially halted operations and affected supply chains and logistics. This has further impacted economies around the globe, resulting in an overall slowdown during 2020. However, businesses are gradually carving out unique pathways to recover from the COVID-19 crisis. With the exemption of lockdowns, growing incorporation of active social distancing and remote working, and surging entries of players in digital marketplaces, various industry and market conditions are likely to improve by early 2021.

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COVID-19 Highlights

  • Industrials sector will have Negative impact due to the pandemic
  • Woodworking machines market is expected to witness Neutral growth during 2020-2024
  • Industrials Industry will witness Indirect impact during the forecast period
  • Woodworking machines market growth is likely to Increase in 2020 compared to 2019 due to Positive YOY

Markets across the globe have faced the economic wrath of the pandemic and are dealing with uncertainties by banking on the online marketspace to reach out to a wider target audience. This woodworking machines market research report encompasses all possible factors expected to drive the market growth and create opportunities for all the stakeholders in the supply chain. View detailed woodworking machines market insights here: https://www.technavio.com/report/woodworking machines market-industry-analysis

Key Woodworking Machines Market Research Findings

  • A CAGR of over 3% is expected to be recorded in woodworking machines market during 2020-2024
  • Furniture segment will hold the largest market share. The wooden furniture and household wooden furniture are the basic products that are developed using woodworking machinery. In residential spaces, furniture is used for its usability and aesthetics. Specifically, the demand for portable wooden furniture is increasing due to the trend of shifting homes.
  • APAC will account for the highest incremental growth. Factors such as economic advancements and population explosion will significantly drive woodworking machines market growth in this region over the forecast period.
  • Adoption of automated woodworking machines will boost the woodworking machines market growth
  • Growing demand for wooden furniture will have a positive impact on the woodworking machines market
  • Declining woods supply and increasing timber prices is likely to create hindrance for the woodworking machines market

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Woodworking Machines Market Vendor Participation Scenario

  • Market is Fragmented
  • Several leading companies in the market are focusing on restoring their economic activity
  • Vendors are concentrating on growth prospects from fast-growing segments while retaining their positions in slow-growing segments.
  • Prominent woodworking machines market players are : Biesse Spa, Durr AG, HOLYTEK INDUSTRIAL Corp., IMA Schelling Group GmbH, KTCC WOODWORKING MACHINERY, Masterwood Spa, Michael Weinig AG, Otto Martin Maschinenbau GmbH & Co. KG, SCM GROUP Spa, and Shandong Gongyou Group Co. Ltd.

With more companies navigating the pandemic gradually, this research analysis can be personalized to create a recovery path for the market participants. Try out our $1000 Worth Free Report Customization by Speaking to our Analyst or Industry Expert

Key Considerations for Market Forecast

  • Products and services used to manage or contain the spread of COVID-19 virus
  • Products and services used for the treatment of COVID-19 virus
  • Impact of lockdowns, supply chain disruptions, demand destruction, and change in customer behavior
  • Optimistic, base case, and pessimistic scenarios for all markets as the impact of pandemic unfolds
  • Pre- and post-COVID 19 market estimates
  • Quarterly impact analysis as the spread reaches global level and updates on market estimates

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Table of Contents:

Executive Summary

Market Landscape

  • Market ecosystem
  • Value chain analysis

Market Sizing

  • Market definition
  • Market segment analysis
  • Market size 2019
  • Market outlook: Forecast for 2019 - 2024

Five Forces Analysis

  • Five Forces Analysis
  • Bargaining power of buyers
  • Bargaining power of suppliers
  • Threat of new entrants
  • Threat of substitutes
  • Threat of rivalry
  • Market condition

Market Segmentation by Application

  • Market segments
  • Comparison by Application
  • Furniture - Market size and forecast 2019-2024
  • Construction - Market size and forecast 2019-2024
  • Others - Market size and forecast 2019-2024
  • Market opportunity by Application

Customer landscape

Geographic Landscape

  • Geographic segmentation
  • Geographic comparison
  • Europe - Market size and forecast 2019-2024
  • APAC - Market size and forecast 2019-2024
  • MEA - Market size and forecast 2019-2024
  • North America - Market size and forecast 2019-2024
  • South America - Market size and forecast 2019-2024
  • Key leading countries
  • Market opportunity by geography
  • Market drivers
  • Market challenges
  • Market trends

Vendor Landscape

  • Vendor landscape
  • Landscape disruption

Vendor Analysis

  • Vendors covered
  • Market positioning of vendors
  • Biesse Spa
  • Durr AG
  • IMA Schelling Group GmbH
  • Masterwood Spa
  • Michael Weinig AG
  • Otto Martin Maschinenbau GmbH & Co. KG
  • Shandong Gongyou Group Co. Ltd.


  • Scope of the report
  • Currency conversion rates for US$
  • Research methodology
  • List of abbreviations

About Us

Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/

Release Summary

The Global Woodworking Machines Market will grow by USD 679.38 mn during 2020-2024


Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/