"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 study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Lumber Equipment market are as follows:

• Research and development budgets of manufacturers and government spending
• Revenues of key companies in the market segment
• Number of end users and consumption volume, price and value.
• Geographical revenues generate by countries considered in the report
• Micro and macro environment factors that are currently influencing the Lumber Equipment market and their expected impact during the forecast period.

Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Key questions answered in this report

• What are the key micro and macro environmental factors that are impacting the growth of Lumber Equipment market?
• What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
• Estimated forecast and market projections up to 2032.
• Which segment accounts for the fastest CAGR during the forecast period?
• Which market segment holds a larger market share and why?
• Are low and middle-income economies investing in the Lumber Equipment market?
• Which is the largest regional market for Lumber Equipment market?
• What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
• Which are the key trends driving Lumber Equipment market growth?
• Who are the key competitors and what are their key strategies to enhance their market presence in the Lumber Equipment market worldwide?