Machine-Tool For Working Wood Market

The global machine-tools market for working wood is forecasted to see continuous growth over the next eight years, with a projected increase in both market volume and value. In 2022, consumption saw a slight decline but is expected to pick up in the immediate term. Key countries driving the market include China, the United States, and India. China remains the largest producer and exporter of machine-tools for working wood, while the United States leads in market value terms. Overall, the market is showing positive indicators for future growth.

Market Forecast

Driven by increasing demand for machine-tools for working wood worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.8% for the period from 2022 to 2030, which is projected to bring the market volume to 33M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +5.4% for the period from 2022 to 2030, which is projected to bring the market value to $68.4B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Machine-Tools For Working Wood

In 2022, consumption of machine-tools for working wood decreased by -5.7% to 31M units for the first time since 2015, thus ending a six-year rising trend. In general, consumption, however, enjoyed a buoyant expansion. As a result, consumption reached the peak volume of 33M units, and then shrank in the following year.

The global machine-tool for working wood market value rose to $45B in 2022, increasing by 3.5% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, consumption, however, recorded a strong increase. Global consumption peaked in 2022 and is expected to retain growth in the immediate term.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were China (9.4M units), the United States (4.9M units) and India (2.2M units), with a combined 53% share of global consumption. The Netherlands, Mexico, Germany, Canada, Singapore, South Korea, Brazil, France, Japan and Chile lagged somewhat behind, together accounting for a further 28%.

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +44.5%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, China ($15.8B) led the market, alone. The second position in the ranking was held by South Korea ($5.1B). It was followed by India.

From 2012 to 2022, the average annual growth rate of value in China totaled +5.6%. In the other countries, the average annual rates were as follows: South Korea (+13.0% per year) and India (+19.7% per year).

The countries with the highest levels of machine-tool for working wood per capita consumption in 2022 were Singapore (137 units per 1000 persons), the Netherlands (88 units per 1000 persons) and Chile (28 units per 1000 persons).

From 2012 to 2022, the biggest increases were recorded for Singapore (with a CAGR of +43.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Machine-Tools For Working Wood

In 2022, approx. 23M units of machine-tools for working wood were produced worldwide; reducing by -8.4% on 2021. Over the period under review, production, however, posted measured growth. The most prominent rate of growth was recorded in 2019 when the production volume increased by 72% against the previous year. Global production peaked at 25M units in 2021, and then fell in the following year.

In value terms, machine-tool for working wood production fell to $41.6B in 2022 estimated in export price. Overall, production, however, continues to indicate a tangible expansion. The pace of growth was the most pronounced in 2019 when the production volume increased by 48%. Global production peaked at $47.9B in 2021, and then shrank in the following year.

Production By Country

China (18M units) remains the largest machine-tool for working wood producing country worldwide, comprising approx. 81% of total volume. Moreover, machine-tool for working wood production in China exceeded the figures recorded by the second-largest producer, Mexico (1.2M units), more than tenfold. South Korea (737K units) ranked third in terms of total production with a 3.2% share.

In China, machine-tool for working wood production expanded at an average annual rate of +5.9% over the period from 2012-2022. The remaining producing countries recorded the following average annual rates of production growth: Mexico (+13.1% per year) and South Korea (+11.8% per year).

Imports

World Imports of Machine-Tools For Working Wood

In 2022, after eight years of growth, there was significant decline in overseas purchases of machine-tools for working wood, when their volume decreased by -14.4% to 23M units. Over the period under review, imports, however, recorded a strong expansion. The growth pace was the most rapid in 2021 with an increase of 25% against the previous year. As a result, imports reached the peak of 27M units, and then contracted in the following year.

In value terms, machine-tool for working wood imports expanded modestly to $9.9B in 2022. The total import value increased at an average annual rate of +3.3% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The growth pace was the most rapid in 2021 with an increase of 25%. Global imports peaked in 2022 and are likely to see steady growth in the near future.

Imports By Country

In 2022, the United States (5M units), distantly followed by the Netherlands (2.7M units), India (1.9M units) and Germany (1.9M units) represented the major importers of machine-tools for working wood, together generating 49% of total imports. The following importers - Canada (911K units), France (833K units), Singapore (778K units), Spain (674K units), Brazil (644K units), the UK (595K units), Chile (538K units), Poland (532K units) and Belgium (497K units) - together made up 26% of total imports.

From 2012 to 2022, the most notable rate of growth in terms of purchases, amongst the leading importing countries, was attained by Singapore (with a CAGR of +37.8%), while imports for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($1.7B) constitutes the largest market for imported machine-tools for working wood worldwide, comprising 17% of global imports. The second position in the ranking was taken by Germany ($614M), with a 6.2% share of global imports. It was followed by Canada, with a 4.2% share.

From 2012 to 2022, the average annual growth rate of value in the United States amounted to +7.3%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+6.2% per year) and Canada (+5.5% per year).

Imports By Type

Machine-tools; (including machines for nailing, stapling, glueing or otherwise assembling) for working wood, cork, bone, hard plastics or rubber or similar hard materials dominates imports structure, resulting at 19M units, which was near 98% of total imports in 2022. Machinery and mechanical appliances (354K units) followed a long way behind the leaders.

Imports of machine-tools; (including machines for nailing, stapling, glueing or otherwise assembling) for working wood, cork, bone, hard plastics or rubber or similar hard materials increased at an average annual rate of +10.1% from 2012 to 2022. At the same time, machinery and mechanical appliances (+22.0%) displayed positive paces of growth. Moreover, machinery and mechanical appliances emerged as the fastest-growing type imported in the world, with a CAGR of +22.0% from 2012-2022. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, machine-tools; (including machines for nailing, stapling, glueing or otherwise assembling) for working wood, cork, bone, hard plastics or rubber or similar hard materials ($8.9B) constitutes the largest type of machine-tools for working wood imported worldwide, comprising 91% of global imports. The second position in the ranking was held by machinery and mechanical appliances ($925M), with a 9.4% share of global imports.

From 2012 to 2022, the average annual rate of growth in terms of the value of machine-tools; (including machines for nailing, stapling, glueing or otherwise assembling) for working wood, cork, bone, hard plastics or rubber or similar hard materials imports amounted to +3.5%.

Import Prices By Type

The average machine-tool for working wood import price stood at $420 per unit in 2022, with an increase of 20% against the previous year. Overall, the import price, however, continues to indicate a perceptible descent. Global import price peaked at $704 per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

Prices varied noticeably by the product type; the product with the highest price was machinery and mechanical appliances ($2,614 per unit), while the price for machine-tools; (including machines for nailing, stapling, glueing or otherwise assembling) for working wood, cork, bone, hard plastics or rubber or similar hard materials stood at $465 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by machine-tools; (including machines for nailing, stapling, glueing or otherwise assembling) for working wood, cork, bone, hard plastics or rubber or similar hard materials (-6.0%).

Import Prices By Country

The average machine-tool for working wood import price stood at $420 per unit in 2022, increasing by 20% against the previous year. Overall, the import price, however, continues to indicate a noticeable shrinkage. Global import price peaked at $704 per unit in 2013; however, from 2014 to 2022, import prices failed to regain momentum.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the UK ($597 per unit), while Singapore ($28 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+12.7%), while the other global leaders experienced more modest paces of growth.

Exports

World Exports of Machine-Tools For Working Wood

In 2022, after six years of growth, there was significant decline in overseas shipments of machine-tools for working wood, when their volume decreased by -21.5% to 15M units. Overall, exports, however, posted measured growth. The most prominent rate of growth was recorded in 2019 with an increase of 94%. The global exports peaked at 19M units in 2021, and then reduced notably in the following year.

In value terms, machine-tool for working wood exports fell to $10.5B in 2022. The total export value increased at an average annual rate of +3.7% over the period from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded in certain years. The pace of growth appeared the most rapid in 2021 with an increase of 23%. As a result, the exports reached the peak of $10.7B, and then shrank slightly in the following year.

Exports By Country

China prevails in exports structure, amounting to 9M units, which was approx. 60% of total exports in 2022. The Netherlands (1.1M units) ranks second in terms of the total exports with a 7.7% share, followed by Germany (6.5%). The following exporters - the UK (478K units), Belgium (340K units), Taiwan (Chinese) (329K units), Spain (328K units), Austria (273K units) and Italy (248K units) - together made up 13% of total exports.

From 2012 to 2022, average annual rates of growth with regard to machine-tool for working wood exports from China stood at +6.2%. At the same time, Spain (+19.7%), Austria (+17.1%), the Netherlands (+11.6%), the UK (+7.8%), Belgium (+6.5%) and Germany (+2.4%) displayed positive paces of growth. Moreover, Spain emerged as the fastest-growing exporter exported in the world, with a CAGR of +19.7% from 2012-2022. By contrast, Italy (-2.5%) and Taiwan (Chinese) (-17.0%) illustrated a downward trend over the same period. While the share of China (+13 p.p.), the Netherlands (+4.1 p.p.) and Spain (+1.7 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Taiwan (Chinese) (-17.8 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($2.7B), Germany ($2.3B) and Italy ($1.5B) appeared to be the countries with the highest levels of exports in 2022, together accounting for 62% of global exports. Taiwan (Chinese), Austria, Spain, the Netherlands, Belgium and the UK lagged somewhat behind, together accounting for a further 17%.

The Netherlands, with a CAGR of +12.7%, recorded the highest rates of growth with regard to the value of exports, in terms of the main exporting countries over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Exports By Type

The products with the highest levels of machine-tool for working wood exports in 2022 were machine-tools; (including machines for nailing, stapling, glueing or otherwise assembling) for working wood, cork, bone, hard plastics or rubber or similar hard materials (14M units), together resulting at 100% of total export.

Machine-tools; (including machines for nailing, stapling, glueing or otherwise assembling) for working wood, cork, bone, hard plastics or rubber or similar hard materials was also the fastest-growing in terms of exports, with a CAGR of +4.2% from 2012 to 2022. The shares of the largest types remained relatively stable throughout the analyzed period.

In value terms, machine-tools; (including machines for nailing, stapling, glueing or otherwise assembling) for working wood, cork, bone, hard plastics or rubber or similar hard materials ($9.7B) remains the largest type of machine-tools for working wood supplied worldwide, comprising 92% of global exports. The second position in the ranking was taken by machinery and mechanical appliances ($816M), with a 7.8% share of global exports.

From 2012 to 2022, the average annual growth rate of the value of machine-tools; (including machines for nailing, stapling, glueing or otherwise assembling) for working wood, cork, bone, hard plastics or rubber or similar hard materials exports stood at +4.4%.

Export Prices By Type

In 2022, the average machine-tool for working wood export price amounted to $698 per unit, increasing by 25% against the previous year. In general, the export price continues to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 117%. Over the period under review, the average export prices attained the maximum at $1,480 per unit in 2017; however, from 2018 to 2022, the export prices remained at a lower figure.

Prices varied noticeably by the product type; the product with the highest price was machinery and mechanical appliances ($19,234 per unit), while the average price for exports of machine-tools; (including machines for nailing, stapling, glueing or otherwise assembling) for working wood, cork, bone, hard plastics or rubber or similar hard materials amounted to $676 per unit.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by machinery and mechanical appliances; presses for the manufacture of particle or fibre building board of wood or other ligneous materials and other machinery for treating wood or cork (+8.8%).

Export Prices By Country

In 2022, the average machine-tool for working wood export price amounted to $698 per unit, jumping by 25% against the previous year. In general, the export price saw a relatively flat trend pattern. The pace of growth was the most pronounced in 2015 an increase of 117% against the previous year. Over the period under review, the average export prices attained the peak figure at $1,480 per unit in 2017; however, from 2018 to 2022, the export prices failed to regain momentum.

Prices varied noticeably by country of origin: amid the top suppliers, the country with the highest price was Italy ($5,920 per unit), while the UK ($99 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Taiwan (Chinese) (+24.5%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform