In 2022, the global woodworking router bits market is set to account for a value of US$ 110.7 Mn, which is projected to increase to an estimated worth of US$ 154.2 Mn by the end of 2029, progressing at a CAGR of 4.8% over the same period.

Router bits for woodworking account for 14% of the global woodworking tools industry landscape. Increasing trend of automation in industries is expected to drive demand for CNC router bits for wood over the coming years.

Demand Analysis of Woodworking Router Bits (2014 to 2021) Vs Market Statistics (2022 to 2029)

Demand for design furniture has increased from residential as well as commercial sector and this has largely influenced the demand for wood carving router bits, trimming router bits, and router bits for wood edges.

Use of wood in the construction of residential and commercial structures has increased substantially over the past years and this has driven shipments of woodworking router bits. From 2014 to 2021, consumption of woodworking router bits rose at a CAGR of 3.7% and the market ended up with a valuation of US$ 105.8 Mn in 2021.

Increasing use of wood in multiple end-use industries, rising demand from the furniture industry, rising demand for woodworking processes like grooving, drilling milling, etc., are anticipated to majorly influence the woodworking router bits market potential over the forecast period.

Price fluctuations of raw materials and decrease in wood supply are expected to hinder woodworking router bits sales to some extent. Increasing automation is expected to propel shipments of CNC router bits for woodworking but at the same time, it is expected to restrain sales of hand router bits for woodworking.

Demand for woodworking router bits is predicted to rise at a CAGR of 4.8% from 2022 to 2029.