The global woodworking router bits market value is forecast to reach USD 166.0 million in 2023. Over the assessment period from 2023 to 2033, global sales of woodworking router bits are predicted to soar at 5.7% CAGR. By 2033, total market size is anticipated to reach about USD 288.2 million.
Demand is expected to remain high for carbide-based woodworking router bits during the forecast period. As per Future Market Insights (FMI), carbide segment is estimated to contribute to more than 42.6% market value share in 2023.
Key Market Shaping Dynamics
Woodworking router bits are specialized cutting pieces of woodworking routers used for cutting and shaping wood. These bits come in a variety of sizes and forms, including straight, curved, and spiral flutes, and are made to generate accurate and detailed cuts.
Straight router bits, flush trim, chamfer bits, and profile bits are a few popular varieties of router bits. Usually, high-speed steel and carbide materials are used to make woodworking router bits. This is due to their exceptional properties including hardness.
The increasing demand for well-designed, exquisite residences, as well as the usage of engineered wood in them, is predicted to considerably contribute to the growth of the woodworking router bits market.
The number of residential and commercial structures is set to rise dramatically due to exploding world population and urbanization. This in turn is expected to create a high demand for wood-based products as well as woodworking tools such as woodworking router bits.
Urbanization is rapidly penetrating roots across the world. According to the United Nations, about 66% of the world’s population is estimated to live in urban areas by 2050. This is anticipated to create a conducive environment for the expansion of the target market.
Along with home furniture, the hotel and business sectors are seeing an increase in demand for woodwork and furniture since they need to alter their decor on a regular basis. Due to changing demographics and construction activities, there is a rising demand for products sold through online sales channels.
There are several opportunities for router bits as home renovation and DIY projects expand across the globe. The global woodworking router bits market share was about 13% to 15% of the total router bits market in 2022.
Germany, Italy, Spain, and France countries remain the prominent market for sales of woodworking router bits in the Western Europe region.
A significant increase in robotic adoption across sectors is expected to create lucrative opportunities for router bits in the construction sector. Ongoing router bit’s implementation and rising awareness about enhanced safety at the workers, to further boost the market growth.
The usage of wood in building different structures has significantly expanded as a result of rapid urbanization and industrialization. Through 2033, it is predicted that demand for woodworking router bits would rise rapidly, particularly in developing nations like India and China where construction activity is significant.
The demand for exquisite woodworking in the furniture sector has also increased as a result of rising disposable income and shifting lifestyle choices. Demand for routing bits, such as wood carving router bits, router bits for flattening wood, chamfer bits, and wood surfacing router bits, is anticipated to be quite high.
| Attributes | Key Insights |
|---|---|
| Global Woodworking Router Bits Market Size in 2022 | USD158.5 million |
| Estimated Market Value (2023E) | USD166.0 million |
| Projected Market Value (2033F) | USD288.2 million |
| Value CAGR (2023 to 2033) | 5.7% |
| Collective Value Share: Top 5 Countries (2023E) | 49.5% |
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Tthe global woodworking router bits industry registered a CAGR of 5.0% historically from 2018 to 2022. The total market value reached about USD 158.5 million at the end of 2022.
Looking forward, the target market is anticipated to expand at a 5.7% CAGR during the projection period. It is set to cross a valuation of USD 288.2 million by 2033.
| Report Attribute | Details |
|---|---|
| Market Value in 2018 | USD 130.4 million |
| Market Value in 2022 | USD 158.5 million |
| CAGR from 2018 to 2022 | 5% |
Growth is driven by factors such as expansion of construction and furniture sectors and growing trend of do-it-yourself (DIY). A rise in online furniture sales across the world is also expected to uplift woodworking router bit demand.
In recent years, there has been a dramatic increase in DIY woodworking projects globally, and the trend is expected to further escalate during the projection period. This in turn will likely create high demand for woodworking tools such as woodworking routers and bits.
Rising investment in wood artworks for interior decoration is another key factor expected to accelerate the market growth.
Rising demand for woodworking and wood-based products across several end-use sectors is projected to boost the market demand for router bits in construction sector.
Advances in technology and development of new and improved router bits and other products are expected to further boost the target market through 2033.
Full-lifecycle management of returned and recycled products is expected to create strong opportunities for router bits’ solutions in inventory management.
As carbide router bits are significantly more effective and aid in lowering overall operational costs and time, top manufacturers of router bits for wood are concentrating on producing them. For instance, YG-1 USA announced the release of four new solid-carbide fiberglass router bit types for CNC and manual routers in February 2020.
For woodworking, carbide router bits outperform high-speed steel (HSS) bits and have a longer useful life. The use of carbide bits is greatly encouraged by the high abrasion and temperature tolerance of carbide.
In the upcoming years, carbide is anticipated to be used significantly in key instruments like CNC router bits for wood and CNC drill bits for wood, among others.
CNC machines are becoming more and more essential for wood processing activities in both industry and workshops due to their extremely versatile usage. These machines, equipped with routers, require high-quality router bits to achieve precise and intricate cuts.
The market for wood products and modular houses is growing rapidly across the world. In order to cut and shape wood for the manufacturing of engineered wood products and modular homes, router bits are necessary tools.
The use of router bits allows the manufacturing of stronger and more durable products by allowing precise and accurate cuts. To accommodate various woodworking jobs, router bits come in a range of sizes and forms.
Rooves, rabbets, and mortises are just a few aesthetic effects that may be made on wood with router bits. Router bits can also be used to create components for modular homes, such as door and window frames, cabinets, and flooring.
Principal Consultant
The below section highlights revenues in terms of value for important Countries in the woodworking router bits industry. The United States and China are expected to emerge as the dominant markets by 2033, with sizes of USD 43.6 million and USD 42.4 million, respectively.
These Countries are expected to grow at similar rates, with the United States registering a 4.8% CAGR, and China, a slightly lower 4.5% CAGR respectively through 2033. The report mentions that these leading two Countries would likely create new avenues for growth during the forecast period.
| Country | United States |
|---|---|
| Anticipated CAGR 2023 to 2033 | 4.8% |
| Projected Market Value 2023 | USD 43.6 million |
| Country | United Kingdom |
|---|---|
| Anticipated CAGR 2023 to 2033 | 4.9% |
| Projected Market Value 2023 | USD 13.5 million |
| Country | China |
|---|---|
| Anticipated CAGR 2023 to 2033 | 4.5% |
| Projected Market Value 2023 | USD 42.4 million |
| Country | Japan |
|---|---|
| Anticipated CAGR 2023 to 2033 | 5.0% |
| Projected Market Value 2023 | USD 6.4 million |
| Country | South Korea |
|---|---|
| Anticipated CAGR 2023 to 2033 | 5.6% |
| Projected Market Value 2023 | USD 3.4 million |
| Country | India |
|---|---|
| Anticipated CAGR 2023 to 2033 | 5.9% |
| Projected Market Value 2023 | USD 10.0 million |
China woodworking router bits market is projected to reach a valuation of USD 42.4 million by 2033. Over the forecast period, woodworking router bit demand in the country is likely to rise at 4.5% CAGR.
Rapid expansion of construction sector due to demographic change is a key factor driving China market forward.
China’s exploding population is creating a high demand for houses and other infrastructures that use wood works such as cabinetry. This in turn is expected to positively impact woodworking router sales as they are employed for making wood furniture.
Due to the high consumption of wood furniture and high demand for luxury furniture and 3D- designing, China is becoming a highly lucrative market for woodworking router bit manufacturers.
The rapid growth of construction applications is having a significant impact on workforce needs. As a result, companies are forced to raise their investment in the development of advanced router bits.
According to Future Market Insights (FMI), the United States woodworking router bits market value is predicted to reach 43.6 million by 2033. Overall sales of woodworking router bits in the United States are set to rise at 4.8% CAGR during the assessment period.
Growth in the United States woodworking router bits industry is driven by several factors. These include growing popularity of DIY woodworking projects, increasing demand for customized furniture and decorative items, and the trend for home renovation.
The development of new and advanced woodworking router bits with improved cutting capabilities, durability, and accuracy is expected to further boost the United States market. These new router bits are becoming popular choices in DIY projects.
Increasing penetration of e-commerce platforms and growing consumer preference for purchasing woodworking tools online are likely to create growth prospects for manufacturers.
The wider availability of e-commerce platforms is making it easier for the consumer’s purchase woodworking router bits online.
Growing interest in building wooden houses in the United States due to their eco-friendly and energy-efficiency features is another key factor impacting woodworking router bit sales.
Leading woodworking router bit manufacturers are looking to upgrade their portfolios through new product launches. They are introducing novel solutions with enhanced features such as durability and high efficiency.
Several companies are also implanting strategies such as mergers, alliances, partnerships, and acquisitions to fortify their market positions.
Recent developments:
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| Attribute | Details |
|---|---|
| Estimated Market Value (2023) | USD 166.0 million |
| Projected Market Value (2033) | USD 288.2 million |
| Estimated Growth Rate (2023 to 2033) | 5.7% CAGR |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Million, Volume in Units, and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered | Material, Shank Diameter, Cutting-Edge, Application |
| Regions Covered | North America; Latin America; East Asia; South Asia Pacific; Western Europe; Eastern Europe; Central Asia; Russia & Belarus; Balkan & Baltic Countries; Middle East & Africa |
| Key Countries Covered | The United States, Canada, Brazil, Mexico, Argentina, Germany, Italy, France, United Kingdom, Spain, BENELUX, Nordics, Czech Republic, Poland, Romania, Hungary, China, Japan, South Korea, India, ASEAN, Australia, New Zealand, South Africa, The United Arab Emirates, Türkiye, South Africa, Northern Africa, Israel |
| Key Companies Profiled | Freud; Yash Tools; Whiteside Machine Company; Amana Tool; CMT Orange Tools; MLCS Woodworking; Bosch; Infinity Cutting Tools; Rockler; Porter-Cable; DeWalt; Festool; Diablo Tools; Eagle America; Grizzly Industrial; Woodline USA; Southeast Tool; Kreg Tool Company; Trend Routing Technology; Leitz Tooling Systems; JessEm Tool Company; Fullerton Tool Company; Avid CNC; General Tools; Freud Diablo; Klingspor's Woodworking Shop; Wen; Makita; Foredom; Exactool; Shop Fox; Jet; Biesemeyer; Delta; Powermatic; Daytona |
Currently, the global market is valued at USD 166.0 million.
Global demand is anticipated to rise at a 5.7% CAGR through 2033.
The global market is expected to reach USD 288.2 million by the end of 2033.
With a share of 42.6% in 2023, carbide segment is expected to dominate the market.
Western Europe is expected to dominate the global market with a share of about 27.9% in 2023
1. Executive Summary 2. Market Overview 3. Key Market Trends 4. Key Success Factors 5. Global Market Demand Analysis 2018 to 2022 and Forecast, 2023 to 2033 6. Global Market - Pricing Analysis 7. Global Market Demand (in Value or Size in USD Million) Analysis 2018 to 2022 and Forecast, 2023 to 2033 8. Market Background 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Material 9.1. High-speed Steel (HSS) 9.1.1. Straight bits 9.1.2. Edge-forming bits 9.1.3. Joinery bits 9.1.4. Rabbeting bits 9.1.5. Specialty bits 9.1.6. Flush Trim 9.1.7. Chamfer 9.1.8. Others 9.2. Carbide 9.2.1. Straight bits 9.2.2. Edge-forming bits 9.2.3. Joinery bits 9.2.4. Rabbeting bits 9.2.5. Specialty bits 9.2.6. Flush Trim 9.2.7. Chamfer 9.2.8. Others 9.3. Others 9.3.1. Straight bits 9.3.2. Edge-forming bits 9.3.3. Joinery bits 9.3.4. Rabbeting bits 9.3.5. Specialty bits 9.3.6. Flush Trim 9.3.7. Chamfer 9.3.8. Others 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Shank Diameter 10.1. 6 mm 10.2. 8 mm 10.3. 10 mm 10.4. 12 mm 10.5. 16 mm 10.6. 19 mm 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Cutting Edge 11.1. Single 11.2. Multiple 11.2.1. Two-Flute 11.2.2. Three Flute 12. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 12.1. Edge Forming 12.2. Joinery 12.3. Grooving and Slotting 12.4. Panel Raising 12.5. Lettering and Engraving 12.6. Fluting and Beading 12.7. Template Routing 12.8. Others 13. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, by Region 13.1. North America 13.2. Latin America 13.3. Western Europe 13.4. Eastern Europe 13.5. Central Asia 13.6. Russia & Belarus 13.7. Balkan & Baltic Countries 13.8. Middle East and Africa 13.9. East Asia 13.10. South Asia and Pacific 14. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 15. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033 16. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 17. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033 18. Central Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 19. Russia & Belarus Market Analysis 2018 to 2022 and Forecast 2023 to 2033 20. Balkan & Baltic Countries Market Analysis 2018 to 2022 and Forecast 2023 to 2033 21. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033 22. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033 23. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033 24. Country-wise Market Analysis 25. Market Structure Analysis 26. Competition Analysis 26.1. Freud 26.2. Stanley Black and Decker 26.3. Kanefusa Corporation 26.4. Amana Tool 26.5. CMT Orange Tools 26.6. MLCS Woodworking 26.7. Bosch 26.8. Infinity Cutting Tools 26.9. Rockler 26.10. Porter-Cable 26.11. DeWalt 26.12. Festool 26.13. Diablo Tools 26.14. Eagle America 26.15. Grizzly Industrial 26.16. Woodline USA 26.17. Southeast Tool 26.18. Kreg Tool Company 26.19. Sommerfeld's Tools for Wood 26.20. Onsrud Cutter 26.21. Trend Routing Technology 26.22. Leitz Tooling Systems 26.23. JessEm Tool Company 26.24. Fullerton Tool Company 26.25. Avid CNC 26.26. General Tools 26.27. Freud Diablo 26.28. Klingspor's Woodworking Shop 27. Assumptions and Acronyms Used 28. Research Methodology
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Woodworking Router Bits Market
