The global thickness planers market is anticipated at USD1.8 billion in 2022. Demand is likely to remain high for thickness planers during the assessment period. This is due to the increased demand from construction garnering USD 3.2 billion in 2033, recording a CAGR of 5.4% from 2023 to 2033. The market is likely to secure USD 1.9 billion in 2023.
| Data Points | Key Statistics |
|---|---|
| Thickness Planers Market Size Value in 2023 | USD 1.9 billion |
| Thickness Planers Market Forecast Value in 2033 | USD 3.2 billion |
| Global Growth Rate | 5.4% CAGR |
| Forecast Period | 2023 to 2033 |
Key Factors Shaping the Demand Outlook of the Thickness Planers Industry:
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| Attributes | Details |
|---|---|
| Historical CAGR (2018 to 2022) | 5.2% |
| Forecast CAGR (2023 to 2033) | 5.4% |
The global thickness planers market is projected to experience considerable growth during the forecast period from 2023 to 2033. Growth is attributed to the rising adoption of thickness planers by woodworkers and DIY (do-it-yourself) enthusiasts around the world.
Thickness planers are woodworking machines used to trim wood boards to a consistent thickness throughout their length. They are being increasingly used across woodworking factories and homes for making rough wooden surfaces flat and smooth as well as to reduce their thickness.
The traditional, adjusting of the thickness of wood boards was done by manual labor. Workers used their hands to trim wooden boards as well as to smooth their surfaces by means of various tools. This process used to take hours and was expensive. With the gradual advancement in technology, new tools like thickness planers were developed, which not only made this job easier but also reduced labor costs.
Today, thickness planers have become standard tools used across homes and woodworking factories for creating parallel surfaces and adjusting the thickness of finished boards quickly. These machines trim wood with better precision and accuracy. The growing adoption of thickness planers by woodworkers and DIY enthusiasts for flattening and trimming wooden boards as per desired thickness is providing a major impetus to the growth of the thickness planers market and the trend is likely to continue in the future.
The innovation in thickness planer technology, size, and design also plays a significant role in expanding the size of the thickness planer market. Initially, thickness planers used to come in the form of large industrial machines which were expensive and difficult to operate in home settings. These prompted manufacturers to introduce portable thickness planers with compact sizes.
The growing usage of thickness planers for various other woodworks such as machining chamfers, jointing wide boards, and creating tapers will further boost their sales in the future.
Increasing Woodwork in the Residential as well as Commercial Sectors Drives Market Demand
The exponential growth of the woodworking industry, increasing investments in residential and commercial sectors, growing penetration of modern woodworking technologies, and the rising trend of DIY are some of the major factors driving the thickness planers market.
Thickness planers have become essential tools in woodworking factors for producing finished boards from raw lumber. Raw lumber cannot be directly used in end-use applications due to uneven thickness and poor finishing. In order to use them and manufacture various wooden end products such as furniture from them, thickness planers are being increasingly used. This is providing a strong thrust to the growth of the thickness planers market.
During the last few years, sales of thickness planers have risen at a substantial pace owing to the rapid shift toward automation. Woodworkers are increasingly adopting these advanced woodworking machines to smoothen wooden surfaces and adjust thickness. These machines help them to avoid tearing out and save money and time as well. The growing popularity of electric and portable thickness planers has ushered a new light into the global thickness planer market. People are showing a keen inclination towards using these electric machines at home for trimming and smoothening smaller wooden boards.
Manufacturers are also gradually shifting their focus towards developing these electric wood planers. This will help them to increase their sales during the forecast period. In addition to this, rising demand for wooden products in prefabricated homes, industries, and several other end-use areas will further accelerate the growth of the thickness planers market in the future
The High Cost of Planers May Impede the Market Growth
There is no doubt that thickness planers are gradually taking over woodworking factories due to their various benefits. There are still various factors that are challenging the growth of the thickness planers market.
Some of these factors are the high cost of heavy-duty thickness planers and the low penetration of modern woodworking technologies across some developing and underdeveloped regions
The Increasing Construction Activities in The Region to Boost the Market Growth
The North American market is expected to account for a market share of 22.5% of thickness planer sales in 2023. With the rapid penetration of advanced technologies in the woodworking industry, expansion of the construction sector, and heavy presence of market players, North America spearheaded by the USA will continue to dominate the global thickness planers market over the assessment period.
North America is home to some of the leading technology giants that manufacture innovative woodworking machines such as bench-top thickness planers. The presence of these companies is positively impacting the growth in the region.
Surging demand for wooden products across residential and commercial sectors coupled with increasing trends of DIY is creating sales prospects for the key provider in the region and the trend is likely to continue in the future.
Increasing Demand for Wooden Furniture in The Region to Drive The Market Growth
According to Future Market Insights, Europe is expected to provide immense growth opportunities for the manufacturers of thickness planers, with countries like the United Kingdom and Germany leading the pack.
Woodworkers and DIY enthusiasts are increasingly using heavy-duty thickness planers and benchtop thickness planers for flattening and trimming wooden boards. Adoption of these machines helps them to increase their production capacity and save costs.
Increasing investments in improving the aesthetic features of homes will generate growth prospects for market players in the future. With changing lifestyles and increasing disposable income people in countries like the United Kingdom and Germany are spending the largest amounts on wooden furniture, insulation boards, and several other decorating wooden products.
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Benchtop Thickness Planers to Remain Highly Sought After
By type, the thickness planers market segment includes handheld, bench-top, and heavy-duty. Among all these, the benchtop segment is expected to dominate the market in the forecast period. The segment is projected to account for a CAGR of 5.3% during the forecast period.
Benchtop thickness planers are compact and portable machines designed for small to medium-sized woodworking projects. They are typically placed on a workbench or table and can handle relatively smaller workpieces. Benchtop thickness planers are popular among hobbyists, DIY enthusiasts, and small woodworking shops.
Commercial Segment to generate high Revenue
As per FMI’s analysis, the commercial segment accounts for 35.2% of the total thickness planers’ market share. Growing demand can be attributed to the expansion of the commercial sector and increased demand for thickness planers in construction activities.
The rapid urbanization, commercial building construction, and housing projects create a demand for thickness planers to process wood materials for these projects.
Some of the key participants present in the global thickness planers market include Black & Decker Inc. (DeWalt), POWERTEC, WEN Products, Delta Power Equipment Corporation, Makita Corporation, Grizzly Industrial Inc., King Canada, Portable-Cable Corporation, General International and Cutech Tool LLC.
These leading market players are constantly upgrading their product portfolios to increase their customer base. They are using various strategies such as price reduction, development of compact products, moving towards online platforms, and partnerships with domestic players to expand their global footprint.
| Report Attributes | Details |
|---|---|
| Growth Rate | CAGR of 5.4% from 2023 to 2033 |
| Market Value in 2023 | USD 1.9 billion |
| Market Value in 2033 | USD 3.2 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Type, Input Width, End-User, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Companies Profiled | Black & Decker Inc. (DeWalt); POWERTEC; WEN Products; Delta Power Equipment Corporation; Makita Corporation; Grizzly Industrial Inc.; King Canada; Portable-Cable Corporation; General International; Cutech Tool LLC |
The market is valued at USD 1.9 billion in 2023.
From 2018 to 2022, the market registered a 5.2% CAGR.
By 2033, the market is expected to reach USD 3.2 billion.
The market is estimated to secure a CAGR of 5.4% from 2023 to 2033.
The high cost of planers may impede market growth
| Market Estimated Size (2023) | USD 19,347.1 million |
|---|---|
| Market Forecasted Size (2033) | USD 29,759.2 million |
| Market CAGR (2023 to 2033) | 4.4% |
| Market Size 2023 | USD 938.9 Million |
|---|---|
| Market Size 2033 | USD 1558.7 Million |
| Value CAGR (2023 to 2033) | 5.2 % |
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