Woodworking and paper machinery manufacturing primarily deals with wood products which comprises of sawmills, woodworking machineries such as wood cutting, engraving, panel saw, edge bander and hydraulic hot press machines and paper manufacturing machinery consist of forming machines, pressing machines, drying machines and sizer machines.
The global woodworking and paper machinery manufacturing market was valued at $34 billion in 2017. Among regional markets, North America was the largest geographic region accounting for one-third of the global market share. The market saw a growth as the interest rates in most developed countries were very low. This created a flow of cheap money for investment, both in developed and developing economies. It also encouraged borrowing and discouraged saving in advanced markets, helping to drive spending. Markets such as machinery manufacturing benefited from the flow of cheap money.
The market in the report is segmented into: woodworking machinery and paper industry machinery.
The USA was the largest country in the market, accounting for one-fourth of the global woodworking and paper machinery manufacturing market. This was mainly due to high number of manufacturing establishments and activity in the country. The country’s large population and government initiatives also gave the market a boost.
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