According to a new study by Future Market Insights, the rise of the European woodworking power tools market has been largely associated with the region’s construction and carpentry sectors (FMI). The European woodworking power tools market is expected to be worth US$ 363.9 million in 2030, with Germany, the United Kingdom, and France leading the way.
According to the report, the EU is stepping up its efforts to combat climate change and reduce its carbon footprint, and the European timber industry is making investments and passing laws that support sustainable forest sources for both domestic and imported wood, which may have an indirect impact on the price of woodworking businesses and the sales of related power tools.
To broaden the market, market participants can increasingly focus their offerings on repair, renovation, and maintenance applications, according to the report.
The woodworking and furniture business, which generates billions of euros for the local economy, is ranked fifth among industrial sectors in Europe, according to the European Confederation of Woodworking Industries.
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Key Takeaways
- Planers power tools to witness greater traction through 2030 on the back of furniture applications.
- Cordless woodworking power tools to remain lucrative through the forecast period, with demand from DIYers, and operational convenience benefits providing impetus.
- Commercial tradesmen such as carpenters, masons and joiners to witness for significant demand.
- Online sales are expected to display higher growth rates, on the back of DIYers, wider product range, and offers & discounts.
- Germany is a highly lucrative market for woodworking power tools, owing to the steady growth of the non-residential construction sector and the presence of major players.
“In line with the rapid surge in demand for smart technologies and connectivity in woodworking, major market players in Europe have been using their expertise in developing sensor technology, services, and software to provide power tool solutions across domains to customers,” says analyst at FMI.
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Europe Woodworking Power Tools market segment
Product Type
- Drills
- Planers
- Grinders
- Saws
- Cutters
- Sanders
- Routers
- Screwdrivers
- Wrenches
- Chasers
- Others
Configuration
- Corded Power Tools
- Cordless Power Tools
End User
- Industrial Enterprises
- Commercial Carpenters, Joiners, and Masonry
- Service Providers
- DIY/Individual
Sales Channel
- Online Sales
- B2C Platform
- B2B Platform
- Offline Sales
- Bulk Suppliers
- Retail Suppliers
Region
- Germany
- Italy
- France
- U.K.
- Spain
- BENELUX
- Russia
- Poland
- Czech Republic
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