Lumber Equipment Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2021 To 2029

Bourgeoning Global Furniture Industry to Stimulate the Demand for Lumber Equipment Globally

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 players of global lumber equipment market includes Bandit Industries, Inc., Vermeer Corporation, Avant Techno Oy, Trelan Manufacturing, Changzhou LEFA Industry and Trade Co., Ltd., Redwood Global Ltd., Salsco, Inc., EMB MFG, Inc., Teknamotor Company, UNTHA Shredding Technology GmbH, Laitilan Metalli Laine Oy, Oliver Machinery Corporation, Miichael Weinig AG, Biesse Group, IMA-Schelling Group and others.

Historical & Forecast Period

This research report presents the analysis of each segment from

2019 to 2029

considering 2020as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segments calculated for the forecast period from 2021 to 2029.

Report Scope by Segments

Lumber equipment market report provides market size and estimates based on market dynamics and key trends observed in the industry. The report provides a holistic view of global lumber equipment market based on equipment type, operating principle, end-user and geography.

Key segments covered in the report are as follows:

Equipment type Segment (2019-2029; US$ Bn)

• Harvesters
• CNC Routers
• Chain & Chisel Mortising Machines
• Grinding Machines
• Sawmills
• Shredders
• Sander Machines
• Others (Stamping & Punching Tolls, Knives & Cutting Blades, etc.)

Operating Principle (2019-2029; US$ Bn)

• Electric
• Mechanical

End-user Segment (2019-2029; US$ Bn)

• Pulp & Paper industry
• Construction Industry
• Timber Factories & Sawmills
• Others (Municipalities, Park Districts & Universities, etc.)

Geography Segment (2019-2029; US$ Bn)

• North America (U.S. and Rest of North America)
• Europe (U.K., Germany, France, and Rest of Europe)
• Asia Pacific (Japan, China, India, and Rest of Asia Pacific)
• Rest of World (Middle East & Africa (MEA), Latin America)

Key questions answered in this report

• What was the market size of lumber equipment in 2019 and forecast up to 2029?
• Which is largest regional market for lumber equipment?
• What are the key market trends observed in the lumber equipment market and outlook for smart security industry?
• Which is the most promising equipment type, operating principal and end-user in lumber equipment market?
• Who are the key players leading the market?
• What are the key strategies adopted by the leading players in market?
• What are the key technology trends in lumber equipment across different geographies and sub-geographies?

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