Global Wood Router Market: Introduction
A wood router is a tool used to hollow out an area in a relatively hard material such as wood. The wood router is the most suitable tool to use for many applications simply because it will get the job done quickly and will give a far superior finish than when using other power tools. The wood router majorly performs the task in a workshop such as cutting decorative edge of boards and transforms an unfurnished looking wood object into attractive.
Demand for the wood product is one of the main driver for the wood router market. Wood router bits have prominent application in carving all kinds of wood such as chipboard, hardwood, plywood, and softwood and play a crucial role in the furniture industry.
Global Wood Router Market: Dynamics
The production of woodworking products such as furniture, building panels and other commercial wood based products is considered to be the primary driver of wood router market. Moreover, the demand for the wood router is further anticipated to expand in end user base beyond industrial sector towards DIY sector due to the increasing investment in wood artworks for interior decoration as well as for commercial sales. Another factor which has increased product awareness for wood routers is owing to the advent of power tools.
The u-PVC, Unplasticized Polyvinyl Chloride, low-maintenance building material has been specified as an alternative to wood which can act in the slowing down the rate of cutting down forests thereby reducing the demand for the woodworking products. Though substitute materials such as metal and plastic based products have gained acceptance yet the existing preference towards aesthetics and inherent quality of woodworking products will generate continued demand of wood routers.
The trade dynamics have significantly changed from conventional distributor channel sales where the wood router manufacturers have taken into direct sales with the end users, offering customized products, extended warranties and associated value added services post sales. This trend has significantly gained traction due to manufacturers resorting to online based sales portals.
The ongoing crisis of COVID-19 has already hit the global economy with the manufacturing sector output and annual growth rate dipping down by double digits. Also with slowdown of construction activities across the globe and supply of materials, the Wood Router market is also expected to brace a negative growth impact. The wood router is expected to recover on the backdrop of woodworking industry revival and growth rate where improved production rate will act as a favour to its growth. This revival is expected to be likely within one to two years.
Global Wood Router Market: Segmentation
Globally, the wood router market can be segmented on the basis of product type, operation, application and distribution channel
Based on the Product Type, the global wood router market can be segmented into,
Based on the Operation, the global wood router market can be segmented into,
Based on the Application, the global wood router market can be segmented into,
Based on the Distribution Channel, the global wood router market can be segmented into,
Global Wood Router Market: Regional Outlook
Europe and the Asia Pacific are considered to be the leading regional markets of wood router. North America is expected to gain significant traction in the coming years owing to flourishing commercial and residential construction activities in the region. In the global production and consumption of swanwood, Europe and North America account for about 2/3rd of global sawnwood production and consumption and are net exporters of sawnwood. Latin America also shows increasing use of the wood router, whereas, the Middle East and Africa show comparatively less growth wood router market.
Global Wood Router Market: Market Participants
The global wood router market comprises several manufacturers who are primarily bringing automation and customization in the wood router are Robert Bosch GmbH, Hitachi Ltd., Stanley Black & Decker, Inc., Triton Tools, Thermwood Corporation, Porter-Cable, Grizzly Industrial Inc., TTS Tooltechnic Systems (Festool), Ferm International B.V., AXYZ Automation Group, VWM Ltd, SCM Group, Vortex Tool Company, Inc., Casadei Busellato, Holytek Industrial Corp, Cantek America Inc., and among others.
The research report presents a comprehensive assessment of the wood router market and contains thoughtful insights, facts, historical data, and statistically supported and industry-validated market data. It also contains projections using a suitable set of assumptions and methodologies. The research report provides analysis and information according to wood router market segments such as product type, operation, application and distribution channel.
The report covers exhaustive analysis on:
Regional analysis includes:
The market report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on wood router market segments and geographies.