Wood Milling Machine Market

The global market for planing, milling or moulding machines is anticipated to experience growth in both volume and value by the year 2030. Consumption, production, imports, and exports have all seen notable increases over the past decade, with China leading the way in both consumption and production. India has also shown significant growth in market size, while the United States remains a key player in imports and exports. The market is forecast to see continued growth in the near future, with fluctuations in trends expected along the way.

Market Forecast

Driven by increasing demand for planing, milling or moulding machines worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.1% for the period from 2022 to 2030, which is projected to bring the market volume to 3.2M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +1.3% for the period from 2022 to 2030, which is projected to bring the market value to $5.3B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Planing, Milling Or Moulding Machines

In 2022, global wood milling machine consumption rose to 3.2M units, growing by 2.2% against 2021 figures. Overall, the total consumption indicated a resilient increase from 2012 to 2022: its volume increased at an average annual rate of +5.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +91.1% against 2013 indices. Over the period under review, global consumption reached the maximum volume in 2022 and is likely to see gradual growth in years to come.

The global wood milling machine market revenue rose sharply to $4.8B in 2022, increasing by 7.6% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Over the period under review, the total consumption indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +3.7% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +69.8% against 2013 indices. Over the period under review, the global market reached the peak level in 2022 and is expected to retain growth in the near future.

Consumption By Country

The country with the largest volume of wood milling machine consumption was China (753K units), accounting for 24% of total volume. Moreover, wood milling machine consumption in China exceeded the figures recorded by the second-largest consumer, the United States (375K units), twofold. The third position in this ranking was held by India (278K units), with an 8.8% share.

In China, wood milling machine consumption increased at an average annual rate of +6.2% over the period from 2012-2022. In the other countries, the average annual rates were as follows: the United States (-1.5% per year) and India (+34.5% per year).

In value terms, Japan ($994M), India ($543M) and Brazil ($417M) appeared to be the countries with the highest levels of market value in 2022, with a combined 41% share of the global market.

India, with a CAGR of +34.4%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of wood milling machine per capita consumption in 2022 were the Netherlands (4.4 units per 1000 persons), Canada (2.4 units per 1000 persons) and Germany (1.3 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the leading consuming countries, was attained by India (with a CAGR of +33.1%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Planing, Milling Or Moulding Machines

In 2022, global production of planing, milling or moulding machines rose to 3M units, picking up by 3.6% compared with 2021 figures. Overall, the total production indicated a tangible increase from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, production increased by +80.3% against 2015 indices. The most prominent rate of growth was recorded in 2018 when the production volume increased by 33%. Global production peaked in 2022 and is likely to see gradual growth in the immediate term.

In value terms, wood milling machine production declined to $3.6B in 2022 estimated in export price. Over the period under review, production, however, saw a perceptible setback. The growth pace was the most rapid in 2019 with an increase of 35% against the previous year. As a result, production reached the peak level of $4.6B. From 2020 to 2022, global production growth remained at a lower figure.

Production By Country

The country with the largest volume of wood milling machine production was China (1.6M units), accounting for 55% of total volume. Moreover, wood milling machine production in China exceeded the figures recorded by the second-largest producer, Taiwan (Chinese) (301K units), fivefold. The third position in this ranking was held by Japan (147K units), with a 5% share.

From 2012 to 2022, the average annual growth rate of volume in China stood at +6.2%. The remaining producing countries recorded the following average annual rates of production growth: Taiwan (Chinese) (-1.1% per year) and Japan (+5.4% per year).

Imports

World Imports of Planing, Milling Or Moulding Machines

After two years of growth, overseas purchases of planing, milling or moulding machines decreased by -6.6% to 1.8M units in 2022. Over the period under review, imports, however, enjoyed a resilient increase. The most prominent rate of growth was recorded in 2016 when imports increased by 36%. Over the period under review, global imports reached the maximum at 1.9M units in 2021, and then reduced in the following year.

In value terms, wood milling machine imports rose rapidly to $992M in 2022. The total import value increased at an average annual rate of +3.6% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 with an increase of 24% against the previous year. Over the period under review, global imports hit record highs in 2022 and are expected to retain growth in the immediate term.

Imports By Country

The United States (384K units) and India (286K units) represented roughly 38% of total imports in 2022. Germany (100K units) took a 5.7% share (based on physical terms) of total imports, which put it in second place, followed by Canada (5.4%) and the Netherlands (5.2%). Russia (67K units), France (55K units), Poland (50K units), Thailand (48K units), Chile (47K units), the UK (42K units), the Czech Republic (40K units) and Belgium (39K units) followed a long way behind the leaders.

From 2012 to 2022, the biggest increases were recorded for India (with a CAGR of +33.7%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($234M) constitutes the largest market for imported planing, milling or moulding machines worldwide, comprising 24% of global imports. The second position in the ranking was held by Germany ($57M), with a 5.8% share of global imports. It was followed by Canada, with a 5.8% share.

From 2012 to 2022, the average annual growth rate of value in the United States totaled +6.9%. The remaining importing countries recorded the following average annual rates of imports growth: Germany (+10.8% per year) and Canada (+6.4% per year).

Import Prices By Country

The average wood milling machine import price stood at $566 per unit in 2022, rising by 14% against the previous year. Overall, the import price, however, continues to indicate a abrupt shrinkage. Over the period under review, average import prices hit record highs at $1,092 per unit in 2013; however, from 2014 to 2022, import prices stood at a somewhat lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the UK ($780 per unit), while India ($33 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the UK (+11.8%), while the other global leaders experienced mixed trends in the import price figures.

Exports

World Exports of Planing, Milling Or Moulding Machines

In 2022, overseas shipments of planing, milling or moulding machines decreased by -5.5% to 1.5M units, falling for the second consecutive year after five years of growth. Overall, exports, however, recorded notable growth. The pace of growth was the most pronounced in 2018 when exports increased by 64% against the previous year. The global exports peaked at 1.9M units in 2020; however, from 2021 to 2022, the exports remained at a lower figure.

In value terms, wood milling machine exports contracted modestly to $950M in 2022. In general, total exports indicated pronounced growth from 2012 to 2022: its value increased at an average annual rate of +4.0% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +20.9% against 2020 indices. The most prominent rate of growth was recorded in 2014 when exports increased by 53% against the previous year. The global exports peaked at $973M in 2021, and then declined in the following year.

Exports By Country

China represented the key exporter of planing, milling or moulding machines in the world, with the volume of exports accounting for 868K units, which was approx. 56% of total exports in 2022. It was distantly followed by Taiwan (Chinese) (302K units), generating a 20% share of total exports. The following exporters - the UK (61K units), Germany (55K units), the Netherlands (42K units), Belgium (33K units) and Denmark (29K units) - together made up 14% of total exports.

From 2012 to 2022, average annual rates of growth with regard to wood milling machine exports from China stood at +6.2%. At the same time, Denmark (+54.8%), Germany (+18.4%), the UK (+9.5%) and Belgium (+4.4%) displayed positive paces of growth. Moreover, Denmark emerged as the fastest-growing exporter exported in the world, with a CAGR of +54.8% from 2012-2022. The Netherlands experienced a relatively flat trend pattern. By contrast, Taiwan (Chinese) (-1.1%) illustrated a downward trend over the same period. China (+9.1 p.p.), Germany (+2.5 p.p.) and Denmark (+1.8 p.p.) significantly strengthened its position in terms of the global exports, while Taiwan (Chinese) saw its share reduced by -13.7% from 2012 to 2022, respectively. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($289M), Germany ($197M) and Taiwan (Chinese) ($116M) constituted the countries with the highest levels of exports in 2022, with a combined 63% share of global exports. Belgium, the Netherlands, the UK and Denmark lagged somewhat behind, together comprising a further 4%.

In terms of the main exporting countries, the UK, with a CAGR of +13.6%, saw the highest rates of growth with regard to the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

In 2022, the average wood milling machine export price amounted to $613 per unit, growing by 3.2% against the previous year. Over the period under review, the export price, however, saw a relatively flat trend pattern. The most prominent rate of growth was recorded in 2021 when the average export price increased by 43%. The global export price peaked at $1,006 per unit in 2015; however, from 2016 to 2022, the export prices remained at a lower figure.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($3,593 per unit), while Denmark ($28 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+11.6%), while the other global leaders experienced more modest paces of growth.

Source: IndexBox Market Intelligence Platform