Global Builders Joinery And Carpentry Of Wood Market Report 2024, Forecast To 2033
10 Oct, 2024
The builders joinery and carpentry of wood market has also seen significant growth in recent years, expanding from $68.82 billion in 2023 to $72.56 billion in 2024 at a CAGR of 5.4%. This growth is due to factors such as increasing export promotion and trade agreements, government support for vocational training, tax incentives for sustainable practices, a focus on preserving cultural and architectural heritage, and rising disposable income and homeownership rates. The market is projected to reach $90.04 billion by 2028 at a CAGR of 5.5%, driven by increasing research and development (R&D) funding, green building initiatives, growing demand for luxury products, and rising renovation and remodeling activities in both the residential and commercial sectors. Major trends include automation in production, bespoke woodwork, smart technology integration, advancements in wood finishing techniques, and the incorporation of 3D printing in joinery.
Major Driver In The Builders Joinery And Carpentry Of Wood Market
The increasing construction activity is expected to propel the growth of the builders joinery and carpentry of wood market going forward. This growth in construction activities is influenced by climate change, the demand for reduced material usage, concerns about water supply, and an increasing population. Builders' joinery and carpentry of wood are essential for creating and installing structural and decorative wooden elements, ensuring both functionality and aesthetic appeal in buildings. For instance, in August 2024, the US Census Bureau reported that the value of construction operations in June 2024 was approximately $2,148.4 billion, reflecting a 6.2% increase from the June 2023 estimate of $2,023.0 billion. Thus, the increasing construction activity is driving the builders joinery and carpentry of wood market, which is projected to reach a market size of $X billion in 2023, $Y billion in 2024, and $Z billion in 2028.
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Major companies operating in the builders joinery and carpentry of wood market are Georgia-Pacific LLC, UPM-Kymmene Corporation, Stora Enso Oyj, Assa Abloy AB, Sumitomo Forestry Co. Ltd, Weyerhaeuser Inc, Pfleiderer Leutkirch GmbH, JELD-WEN Holding Inc, VELUX Group, Andersen Corporation, Masonite International Corporation, Metsa Group, Pella Corporation, Simpson Strong Tie Co Inc, Alside Ltd, SIA BYKO-LAT, Huber Engineered Woods LLC, Stairways Midlands Ltd, Ante-holz GmbH, Medina Joinery Ltd, Meer End Staircases & Joinery, S&A Carpentry, Woodfellas Carpentry & Joinery Ltd
Key Builders Joinery And Carpentry Of Wood Market Trend
Major companies within the builders joinery and carpentry of wood market are concentrating on the development of innovative products, such as cordless, battery-operated planers, aimed at providing finish carpenters and remodelers with lightweight, compact, and powerful tools that enhance productivity and precision in woodworking tasks. These cordless, battery-operated planers serve as portable woodworking tools that facilitate the smoothing and leveling of wooden surfaces without the necessity of a power outlet, making them particularly suited for on-site construction and carpentry projects. For example, in January 2023, Milwaukee Tool, a U.S.-based manufacturer of portable electric power tools and accessories, launched the M12 Brushless 2 Planer as part of their M12 System. This planer caters to finish carpenters and remodelers, delivering sufficient power to plane and scribe both soft and hard wood. The tool features a compact design with a 2-inch wide shoe suitable for common applications such as scribing and planing doors, and it can remove up to 5/64 inches in a single pass, ensuring a smooth surface finish. With 21 depth settings, it enables precise cuts, making it an effective tool for a range of woodworking tasks.
Purchase The Global Builders Joinery And Carpentry Of Wood Market Report Directly And Get A Swift DeliveryGlobal Builders Joinery And Carpentry Of Wood Market Segmentation
The builders joinery and carpentry of wood market covered in this report is segmented –
1) By Product Type: Doors, Windows, Staircases And Railings, Cabinets And Cupboards, Flooring, Other Components
2) By Material Type: Solid Wood, Engineered Wood, Softwood, Hardwood, Plywood, Particleboard, Medium-Density Fiberboard (MDF), Other Material Types
3) By End-Use Application: Residential Construction, Commercial Construction, Industrial Construction, Renovation And Remodeling, Others End-Use Applications
By Geography:The regions covered in the builders joinery and carpentry of wood market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
North America was the largest region in the builders joinery and carpentry of wood market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period.
The Builders Joinery And Carpentry Of Wood Global Market Report 2024 furnishes information about the global builders joinery and carpentry of wood market, encompassing details like market size, projections for growth, segmentation across various sectors and regions, and an overview of competitors, including their revenues, profiles, and market shares. Furthermore, the report pinpoints potential opportunities and strategic directions derived from market trends and the strategies adopted by key competitors. The report also offers an assessment of how the COVID-19 pandemic, the Russia-Ukraine conflict, and increasing inflation have affected both global and regional markets, furnishing valuable strategic insights for businesses.