The use of wood in the construction of residential and commercial structures has increased substantially over the past years and this has driven shipments of woodworking router bits. From 2014 to 2021, consumption of woodworking router bits rose at a CAGR of 3.7% and the market ended up with a valuation of US$ 105.8 Mn in 2021.
Demand for design fixtures has improved from residential addition to the industrial area and this has largely prompted the call for wood carving router bits, trimming router bits, and router bits for wooden edges.
The growing use of wooden in multiple give-up-use industries, growing call from the furniture industry, and rising demand for woodworking procedures like grooving, drilling milling, etc., are anticipated to majorly impact the woodworking router bits marketplace potential over the forecast duration.
Fee fluctuations of raw substances and a decrease in timber supply are predicted to avert woodworking router bits income to some extent. Growing automation is anticipated to propel shipments of CNC router bits for woodworking but at the equal time, it’s miles expected to restrain sales of hand router bits for woodworking.
Woodworking router bit shipments in the MEA region accounted for 3.6% of the global industry in 2022. The growth in this region is expected to pick up the pace by the end of the forecast period as industrialization increases.
Fast urbanization and industrialization have vastly accelerated the use of timber in the creation of diverse systems throughout the globe. Especially in rising economies like India and china wherein construction pastime is excessive, the call for woodworking router bits is predicted to increase thru 2029.
Growing disposable profits and changing lifestyle preferences have additionally caused a growth in demand for first-class woodworking in the furnishings enterprise. Wooden carving router bits, router bits for knocking down wooden, chamfer bits, wooden surfacing router bits, etc. Are some key products that can be anticipated to see the excessive calls through thru 2029.
Demand for woodworking router bits is predicted to rise at a CAGR of 4.8% from 2022 to 2029.
- Robert Bosch Tool Corporation
- Stanley Black and Decker
- KANEFUSA Corporation
- Amana Tool Corporation
- Freud Tools
- Vortex Tool Company Inc.
- Whiteside Machine Company
- WOODCRAFT SUPPLY LLC
- Dimar Group
- Sistemi Klein
- MLCS Woodworking Products
- Rockler Companies Inc.
- Yash Tooling
- Takahashi Tools Co. Ltd.
- VHF Tools
- CMT Utensili SpA