Forecast by Future Market Insights states that the Europe woodworking power tools market is estimated to grow at a CAGR of 5% between 2020 and 2030.

The construction and carpentry sectors in Europe are driving the growth of the woodworking power tools market (FMI). In 2030, the European woodworking power tools business, led by Germany, the United Kingdom, and France, is expected to be worth USD 363.9 million.

According to the report, the EU is stepping up its efforts to combat climate change and reduce its carbon footprint, and the European timber sector is investing in and legislating for sustainable forest sources in terms of both domestic and imported wood, which may have an indirect impact on the pricing of woodworking operations and associated power tool sales.

To widen the market, market participants might progressively focus their products on repair, renovation, and maintenance applications, according to the report.

According to the European Association of Woodworking Industries, the woodworking and furniture business is Europe’s fifth largest industrial sector, contributing billions of euros to the regional economy.

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.

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
Read More: https://www.futuremarketinsights.com/reports/europe-woodworking-pow...