After months of exponential growth, with rates that had never been seen in recent decades, confirmation of what had already been speculated has arrived in the woodworking technology market. In fact, the quarterly survey conducted by Acimall‘s Study Office confirmed the expected return to normalcy, with values matching those of the pre-pandemic period of 2019.
Moreover, according to Acimall’s findings, the entire woodworking technology sector is still strong with an order backlog looking forward, with production assured for the next 5.2 months – a forecast equal to that of the previous quarter.
The analysis conducted on the sample of companies then reveals that 72 percent expect production to remain essentially stable, 19 percent to increase and 9 percent to decrease.
Interesting numbers also regarding employment rates: stable for 81% of the sample, growing for 14% and shrinking for 5%.
With respect to this scenario, what seems to be for all intents and purposes a decisive factor in imparting a new impetus to the market, especially the domestic market, is the Industry 5.0 Transition Plan. A measure that would push on the path of sustainability of industrial processes.
This is the view of Acimall director Dario Corbetta:
An expected scenario that could experience a significant change of course thanks to the new Industry 5.0 Transition Plan, which is highly anticipated not only by the woodworking and furniture technology industry, but by all sectors of mechanics and beyond. The scope of the measure could lead to the recovery of the Italian market already in the coming months or at least from the beginning of 2024.
Proposals to revise the NRP and RepowerEU were sent to the European Parliament at the end of July, and it seems that the changes will be accepted. This means that the Transition 5.0 Plan could definitely start soon, most likely in 2024, on the strength of a €4 billion investment budget – a crucial incentive to support companies in investing in the transition.
In the text containing the amendments sent to the European Parliament, it can be read that the measure will be crucial to “accelerate the reconversion of both capital equipment and production processes of enterprises,” and that the Plan will incentivize enterprises that undertake certain actions, such as:
Optimizing the use of raw material is a priority issue for us, and it is no coincidence that our machinery is designed to save as much raw material as possible.
Secondly, the new software of our optimizers is designed to meet the needs of industrial automation and new production technologies. In fact, S4U provides high flexibility in terms of interfacing the machine with the whole third-party ecosystem consisting of scanners, automation, and management and pre optimization software.
The market for woodworking technology has stabilized, but Italy seems poised to see a new positive trend, thanks in part to the upcoming investments of the Industry 5.0 Transition Plan.
5.0 is coming, and we are ready. How about you?