WILMINGTON, Del. — The global market for woodworking machines is expected to grow significantly reaching $7.5 billion by 2031, according to Transparency Market Research.
TMR said the market's compound annual growth rate is projected to be steady throughout this period as more businesses adopt automated solutions to reduce labor dependency, boost productivity and improve accuracy.
Trends that will drive the world-wide woodworking machine market include:
Market Expansion in Asia-Pacific: Rapid industrialization and urbanization in Asia-Pacific are driving significant demand for woodworking machinery.
Rising Demand for Customized Furniture: Increasing consumer preferences for customized solutions are increasing demand for versatile woodworking machines.
Technological Advancements: Automation, digital control systems, and AI-integrated solutions are boosting productivity and reducing operational costs.
Sustainable Production Practices: As environmental regulations tighten, demand is growing for energy-efficient and waste-minimizing machines.
The report also notes that advanced woodworking technologies are growing the need for consulting and training services.
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