The latest trend gaining momentum in the woodworking machines market is automation in woodworking machinery. Changing lifestyle and increasing competition are the major driver for furniture manufacturers to offer customized products. Many countries like Germany, the US, and China are looking forward to completely automate their manufacturing units to enhance their productivity and efficiency and to offer products that meet the customer needs. —
Complete report on woodworking machines market spread across 66 pages, analyzing 4 major companies and provides 29 data exhibits is now available at http://www.reportsnreports.com/reports/857410-global-woodworking-machines-market-2017-2021.html .
The analysts forecast the global woodworking machines market to grow at a CAGR of 2.93% during the period 2017-2021. One of the major drivers for this market is increase in demand for engineered wood product and wooden furniture. The demand for engineered wood products is a key driver for the global woodworking machines market. Technology and innovation have helped in manufacturing wood products that are easily available and are easy to build. With the global rise in residential and commercial buildings, the demand for engineered wood products have increased as the occupants are giving importance to the aesthetic look of the buildings.
The report, Global Woodworking Machines Market 2017-2021, has been prepared based on an in-depth market analysis with inputs from industry experts. This report covers the market landscape and its growth prospects over the coming years. The report also includes a discussion of the key vendors operating in this market.
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The global woodworking machines market is highly fragmented due to the presence of multiple international and regional vendors. To gain a competitive advantage, regional vendors offer quality products and services to customers. To counter this strategy international vendors are growing inorganically by multiple strategic alliances to enhance their market potential and profit margins. With the rising number of M&A activities, the competition in the market is expected to intensify during the next four years.
Key players in the global woodworking machines market: Biesse, Durr, IMA-Schelling, and SCM Group.
Other Prominent Vendors in the market are: Cantek America, Cheng Kuang Machinery, Gongyou Group, HOLYTEK INDUSTRIAL CORP., KTCC Woodworking Machinery, WEINIG Group, Woodworking Machine-Oliver Machinery.
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Further, the report states that one of the major factors hindering the growth of this market is impact of Brexit on the timber industry. The UK is one of the most important markets in the EU with respect to its population, GDP, and FDI. The decision taken by the UK to exit the EU will significantly impact the region's economy and might even slowdown the economic growth.
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Release ID: 176538