Title: Woodworking Router Bits Market will Account for Revenues Worth US$ 150 Mn by 2029
1Woodworking Router Bits Market
Report Id REP-AS-11076 Published On
Feb-2020 Category Industrial Automation
Equipment
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4Woodworking Router Bits Market Analysis
- Rising Focus on 3D Carving and Designing of
Wood-based Furniture to Push Woodworking Router
Bits Market Value to US 150 Mn by 2029 - Router bits are used in several woodworking
applications such as milling, drilling, grooving,
profiling, engraving, carving, etc. - High accuracy and precision of carbide-tipped
router bits are giving them a competitive edge in
the global market. - High demand for design furniture is another plus
point favouring market growth. - Furthermore, high reselling value of
carbide-tipped router bits as compared to high
speed steel (HSS) is also expected to push the
growth lever of the global market in the coming
decade. - According to a new research report published by
Future Market Insights (FMI), the
global woodworking router bits market is
estimated to exhibit a CAGR of close to 5 during
the forecast period of 2019-2029.
5Woodworking Router Bits Market Analysis
- Key Takeaways of Woodworking Router Bits Market
Study - Woodworking router bits have prominent
application in engraving and carving all kinds of
wood such as chipboard, plywood, hardwood, and
softwood, and play a crucial role in the
furniture industry. - Targeting the expanding DIY consumer segment,
manufacturers are offering customized products,
which facilitate effective usage in handheld
operations such as drilling, cutting, milling,
etc. - The most common types of router bits available in
the market are handheld router bits and CNC
router bits. Handheld router bits are limited to
specific applications, resulting in steady market
growth, whereas, CNC router bits are versatile,
providing lucrative business avenues for
investors. - Out of all woodworking operations, grooving holds
a significant share, and is projected to witness
maximum growth during the forecast years. - In recent years, the market has witnessed price
variations, owing to diversified product lines
offered by manufacturers that target a broad
clientele based on the type of woodworking
operation. - To know more about this market, request a sample_at_
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6Woodworking Router Bits Market Analysis
- In the woodworking router bits market,
products with high-end precision and durability
are necessary for complex woodworking operations.
Manufacturers are capitalizing on this trend by
actively providing customized products for
application-specific woodworking operations. - Woodworking Router Bits Market Competitive
Landscape - The woodworking router bits market has become
increasingly competitive as manufacturers are
launching advanced products that offer various
operational benefits and are compatible to the
woodworking industry. - There are a significant number of organized and
unorganized players actively operating in the
global market. - Key players involved in the woodworking router
bits market are Robert Bosch GmbH, Stanley Black
and Decker, Kanefusa Corporation, Amana Tool
Corporation, and CMT Utensili SpA, among others. - The offering of versatile router bits can be a
differentiating move for manufacturers in the
global market.
7Woodworking Router Bits Market Analysis
- Asia Pacific Offering Lucrative Opportunities for
Market Growth - The woodworking router bits market is expected to
gain significant traction in the coming years,
owing to flourishing residential and commercial
construction activities in developing economies
of Asia Pacific. - Rising demand from the furniture industry in the
commercial and residential sectors is expected to
drive the sales of router bits during the
forecast period. - Intense use of wooden furniture and timber for
construction in countries such as India, China,
and South Korea is expected to propel woodworking
router bits market growth. - We offer tailor-made solutions to fit your
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