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Woodworking And Paper Machinery Global Market Report 2024 Market Size, Trends And Strategies For 2024-2033
Woodworking And Paper Machinery Global Market Report
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According to The Business Research Company's, The woodworking and paper machinery market size has grown strongly in recent years. It will grow from $42.3 billion in 2023 to $46.24 billion in 2024 at a compound annual growth rate (CAGR) of 9.3%. The growth in the historic period can be attributed to industrialization of wood processing, paper industry growth, sustainability and environmental concerns, global demand for wood products.
The woodworking and paper machinery market size is expected to see strong growth in the next few years. It will grow to $64.34 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%. The growth in the forecast period can be attributed to industry 4.0 integration, customization and adaptability, eco-friendly machinery, digitalization and remote monitoring, globalization of markets. Major trends in the forecast period include automation and robotics, energy-efficient machinery, 3D printing in woodworking, digital printing in paper industry, circular economy in paper production.
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Market Drivers and Trends:
The expanding e-commerce industry is expected to propel the growth of the woodworking and paper machinery market going forward. E-commerce refers to the buying and selling of goods and services over the internet. The rise of e-commerce has increased demand for packaging materials, including cardboard and corrugated paper, which drives the need for paper machinery used in packaging production. For instance, in August 2023, according to a report published by the U.S. Census Bureau, a US-based government agency, U.S. retail e-commerce sales for the second quarter of 2023 reached an estimated $277.6 billion, reflecting a 2.1% rise compared to the first quarter of the same year. Therefore, the rapid growth in e-commerce is driving the growth of the woodworking and paper machinery market.
Major companies operating in the woodworking and paper machinery markets are developing innovative products, such as kraftliner machines, to enhance their product offerings. A kraftliner machine is an industrial device used in paper manufacturing to produce high strength kraftliner paper, commonly employed in packaging, particularly for corrugated boxes. For instance, in April 2023, the Voith Group, a Germany-based technology company specializing in papermaking machinery, launched the world's largest kraftline machine for SCA (a Swedish forest industry company). The machine features a design speed of 1,400 meters per minute and a wire width of 10,200 mm. The Voith XcelLine paper machine will produce 725,000 tons of high-quality kraftliner per year with basis weights between 100 and 200 gsm. The new machine increases SCA's production capacity by 270,000 tons. The highly efficient solutions reduce resource consumption and enable maximum productivity with the lowest overall production costs.
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• Comprehensive Market Insights: Stakeholders gain access to detailed market statistics, trends, and analyses that help them understand the current and future landscape of their industry.
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• Competitive Advantage: With in-depth competitor analysis and market share information, stakeholders can identify opportunities to outperform their competition.
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• Global Perspective: The reports cover various regions and markets, providing a broad view that helps stakeholders expand and operate successfully on a global scale.
Major Key Players of the Market:
Mitsubishi Heavy Industries Ltd., Bobst Group SA, Dream International Limited, Adidas AG, Integrity Toys Inc., JAKKS Pacific Inc., LEGO Group, Homag, SCM Group, Biesse Group, IMA Schelling, Stanley Black & Decker Inc., JPW Industries, Felder Group, Altendorf GmbH, Martin Woodworking Machines Corp., Stiles Machinery Inc., Weinig Holz-Her USA, Greenply Industries, Shobha Industries Private Limited, ConInfra Machinery, S. L. Paper Machines LLP, Parason Machinery Pvt. Ltd., Klabin S.A., Greenlam Industries.
Woodworking And Paper Machinery Market 2024 Key Insights:
• The woodworking and paper machinery market size is expected to see strong growth in the next few years. It will grow to $64.34 billion in 2028 at a compound annual growth rate (CAGR) of 8.6%.
• E-Commerce Expansion Fuels Growth In The Woodworking And Paper Machinery Market
• Innovative Kraftliner Machines Drives Advancements
• Western Europe was the largest region in the woodworking and paper machinery market in 2023
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The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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Contact Us:
The Business Research Company
Europe: +44 207 1930 708
Asia: +91 88972 63534
Americas: +1 315 623 0293
Email: info@tbrc.info
Follow Us On:
LinkedIn: https://in.linkedin.com/company/the-business-research-company
Twitter: https://twitter.com/tbrc_info
YouTube: https://www.youtube.com/channel/UC24_fI0rV8cR5DxlCpgmyFQ
Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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