Dublin, Oct. 12, 2021 (GLOBE NEWSWIRE) -- The "Lumber Equipment Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029" report has been added to ResearchAndMarkets.com's offering.
Lumber equipment market expected to exhibit a growth with a CAGR of 3.72% across the forecast period from 2021 to 2029
Lumber equipment used to manufacture wooden products with greater precision, quality and scale than manual processing. Lumber equipment are extensively used in pulp & paper, construction, timber factories & sawmills and other industries.
Besides, professionals from municipalities, arborists (tree surgeons), park districts and universities among others are using lumber equipment. Rapidly growing urbanization further promote the furniture consumption demand. Urbanization rate in China increased from 49.95% in 2010 to 57.35% in 2016, augmented by an annual rate of 1.23%. Growing urbanization with increasing per capita disposable income expected to drive the growth for furniture industry, thereby driving the subsequent surge of lumber equipment market.
Sawmills to Cement the Dominating Position in Lumber Equipment Market
Sawmills used to convert softwood or hardwood into lumber and other finished products. Utilization of raw material effectively is key factor to increase productivity in lumber industry. Sawmills in recent trend are mostly automated, that improves accuracy along with productivity. Further, modern sawmills offer functionality to prioritize speed & volume of log sawing.
Additional factors that influence the achieved yield are positioning accuracy in sawing machines and usage of curve or straight sawing technique. With aforementioned benefits sawmills expected to witness promising demand in following years. Nevertheless, in the coming years, CNC routers segment expected to register the higher growth rate. The segment growth primarily stimulated by growing demand for customized lumber designs.
CNC routers offer entirely automated cutting process, which enables handling of multiple projects without variation in design. By coding complex design in machine language CNC routers handle complicated operation with more ease. Rapidly growing automation in lumber manufacturing process to surge the higher growth of segment compared to other equipment.
Flourishing Furniture Industry Along With Rising Discretionary Income to Ensure Fastest Growth of Lumber Equipment Market in Asia Pacific
In 2020, Asia Pacific market represented the largest share, in terms of value. Region also expected to exhibit comparatively higher market growth throughout the forecast period, principally due to development of furniture industries. As the global furniture industry continues to shift towards developing countries, dominating position of region in the global lumber equipment market continues to improve across the forecast period.
From 2000 to 2015, China's furniture manufacturing industry revenue raised from US$ 4.73 Bn to US$ 11.40 Bn, with an average annual growth rate of 24%. Similarly, growing per capita disposable income of citizens expected to stimulate the demand for designer lumber products, thereby driving the lumber equipment market growth in the region.
For instance, China's per capita disposable income increased from US$ 1650 in 2006 to US$ 4800 in 2016, with an annual compound growth rate of 11.07%; subsequently purchasing power of residents increased by significant margin. At the same time, the proportion of furniture consumption in the total retail sales also increased from 0.21% in 2006 to 0.84% in 2016. Similarly, growing end-use industry from India, Japan and South Asian countries expected to drive the demand for lumber equipment market across the forecast period.
Enhancing the Reliability of Equipment to Remain the Key Strategy
Lumber equipment market considered as fragmented in nature with players are aiming for evolution in product offering to cater wide application area. The range of lumber equipment available in the market is more diverse than before.
Considering rapid pace of changing life styles and competitive environment in end-use industry, manufacturers to offer highly reliable product range. Manufacturers are integrating various control platforms with lumber equipment to enhance its reliability. Such controlling platforms includes systems based control, NC/CNC, PLC and other automated functionality through various software modules.
Key Topics Covered:
2. Executive Summary
3. Market Dynamics
3.1.1. Global LE Market Value, 2019 - 2029 (US$ Bn)
3.2. Market Inclination Insights
3.3. Market Dynamics
3.3.1. Market Drivers
3.3.2. Market Restraint
3.4. Attractive Investment Proposition, by Geography, 2020
3.5. Market Positioning of Key Lumber Equipment Manufacturers, 2020
3.5.1. Major Strategies Adopted by Leading Companies
4. Global Lumber Equipment (LE) Market, by Equipment Type, 2019 - 2029 (US$ Bn)
4.3. CNC Routers
4.4. Chain & Chisel Mortising Machines
4.5. Grinding Machines
4.8. Sander Machines
4.9. Others (Stamping & Punching Tools, Knives & Cutting Blades, etc.)
5. Global Lumber Equipment (LE) Market, by Operating Principle, 2019 - 2029 (US$ Bn)
6. Global Lumber Equipment (LE) Market, by End-user, 2019 - 2029 (US$ Bn)
6.2. Pulp & Paper Industry
6.3. Construction Industry
6.4. Timber Factories & Sawmills
6.5. Others (Municipalities, Park Districts, Universities, etc.)
7. North America Lumber Equipment (LE) Market Analysis, 2019 - 2029 (US$ Bn)
7.2. North America LE Market Value, 2019 - 2029 (US$ Bn)
7.3. North America LE Market, by Equipment type, 2019 - 2029 (US$ Bn)
7.4. North America LE Market, by Operating Principle, 2019 - 2029 (US$ Bn)
7.5. North America LE Market, by End-user, 2019 - 2029 (US$ Bn)
7.6. North America LE Market, by Country/Region, 2019 - 2029 (US$ Bn)
7.6.2. Rest of North America
8. Europe Lumber Equipment (LE) Market Analysis, 2019 - 2029 (US$ Bn)
9. Asia Pacific Lumber Equipment (LE) Market Analysis, 2019 - 2029 (US$ Bn)
10. Rest of the World Lumber Equipment (LE) Market Analysis, 2019 - 2029 (US$ Bn)
11. Company Profiles
Bandit Industries Inc.
Avant Techno Oy
Changzhou LEFA Industry and Trade Co. Ltd.
Redwood Global Ltd.
EMB MFG Inc.
UNTHA Shredding Technology GmbH
Laitilan Metalli Laine Oy
Oliver Machinery Corporation
Miichael Weinig AG
For more information about this report visit https://www.researchandmarkets.com/r/4yocpp
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