Woodturning Lathes Market
Woodturning Lathes Market
The market for Woodturning Lathes was estimated at $617.49 million in 2024; it is anticipated to increase to $866 million by 2030, with projections indicating growth to around $1.15 billion by 2035.
Global Woodturning Lathes Market Outlook
Revenue, 2024 (US$M)
Forecast, 2034 (US$B)
CAGR, 2024 - 2034
Market Key Insights
- The Woodturning Lathes market is projected to grow from $617.5 million in 2024 to $1.09 billion in 2034. This represents a CAGR of 5.8%, reflecting rising demand across Artistic Woodturning, Musical Instrument Production and Furniture Manufacturing.
- JET Equipment & Tools Ltd., NOVA Machinery & Eng. Inc., Central Machinery are among the leading players in this market, shaping its competitive landscape.
- U.S. and Germany are the top markets within the Woodturning Lathes market and are expected to observe the growth CAGR of 3.8% to 5.6% between 2024 and 2030.
- Emerging markets including Brazil, India and South Africa are expected to observe highest growth with CAGR ranging between 6.7% to 8.0%.
- Transition like Transition towards Digitalization is expected to add $66.9 million to the Woodturning Lathes market growth by 2030
- The Woodturning Lathes market is set to add $468 million between 2024 and 2034, with manufacturer targeting Professional Carpenters & Educational Institutions Application projected to gain a larger market share.
- With Increased diy activities, and Technological advancements, Woodturning Lathes market to expand 76% between 2024 and 2034.
Opportunities in the Woodturning Lathes
In the few years do it yourself woodworking has become increasingly popular thanks to the latest trends in home design and bespoke furniture. This shift towards creations has driven the demand for woodturnin lathes among hobbyist woodworkers particularly in nations such, as the USA and UK where there is a large market of consumers.
Growth Opportunities in North America and Europe
North America Outlook
Europe Outlook
Market Dynamics and Supply Chain
Driver: Increased DIY Activities, and Sustainability Drive
Restraint: High Initial Investment
Opportunity: Enriching Educational Ventures and Reviving Traditional Craftsmanship
Challenge: Evolving Regulatory Landscape
Supply Chain Landscape
Iron Ore Suppliers
Steel Suppliers
Techtronics Industries
Stanley Black & Decker
Robert Bosch GmbH
Techtronics Industries
Grizzly Industrial
WEN Products
Iron Ore Suppliers
Steel Suppliers
Techtronics Industries
Stanley Black & Decker
Robert Bosch GmbH
Techtronics Industries
Grizzly Industrial
WEN Products