The global woodworking lathe market reached $220 million in 2024 and is projected to reach $270 million by 2031, with a compound annual growth rate (CAGR) of 3.4%. In 2024, the Chinese woodworking machinery market was approximately RMB 38 billion, with woodworking lathes accounting for about 18% of the market share.
The development of woodworking lathes in my country began in the 1970s. In 2005, the production share of CNC woodworking lathes was only about 13.5%, far lower than that of the United States, Japan, and South Korea at the time. Products were categorized into economy, entry-level, and mid-to-high-end models.
During the 15th Five-Year Plan period (2001-2005), the production of domestically produced CNC woodworking lathes increased from 10,022 units to 37,811 units, and the output value increased from RMB 1.153 billion to RMB 6.163 billion. The market share, measured by unit count, rose from 72.5% to 88.9%, but the market share of entry-level and above products remained relatively low.
The woodworking lathe industry is developing towards digitalization, automation, intelligence, high precision, multi-functionality, and energy conservation and environmental protection.
Domestic woodworking machinery industries are concentrated in Qingdao, Shandong and Lunjiao, Guangdong. Exports are mainly to Southeast Asia and South Asia, with some entering the European and American markets. The high-end market is dominated by European and American brands, while Asian brands occupy the mid-to-low-end market due to their cost-effectiveness.
