Woodworking Machinery Manufacturing in the US - Industry Market Research Report

Woodworking Machinery Manufacturing in the US - Industry Market Research Report

Woodworking Machinery Manufacturing in the US

Woodworking machinery manufacturers produce woodworking and sawmill machinery, including lathes, routers, circular saws and home workshop equipment. Through 2023, the industry has endured declining revenue, primarily driven by disruptions to the industry's downstream markets caused by the pandemic and increasing import penetration. Imports will satisfy a high share of domestic demand in 2023, leading more enterprises to choose offshore production, constricting domestic manufacturers' growth as consumers choose lower-cost options. Also, industry performance relies heavily on residential and nonresidential construction markets. Business closures and quarantine mandates, followed by an economic slowdown in 2020, caused many businesses and institutions to delay or cancel construction projects, harming manufacturers. Even so, a strong housing and consumer DIY market supported growth, limiting the decline's extent during the COVID-19 pandemic. Overall, industry revenue has been contracting at a CAGR of 1.9% over the past five years, and is estimated to reach $905.9 million through the end of 2023.

Operators in the Woodworking Machinery Manufacturing industry manufacture sawmill and woodworking machinery, excluding handheld power tools (IBISWorld report 33399). Manufactured machinery includes circular and band sawing equipment, planing machinery, sanding machinery, band saws, circular saws, jigsaws, jointers, lathes, mortises, power-driven bench and table saws and other woodworking machines.

This report covers the scope, size, disposition and growth of the industry including the key sensitivities and success factors. Also included are five year industry forecasts, growth rates and an analysis of the industry key players and their market shares.