Is the Woodworking Market Saturated?

The US woodworking industry was valued at $258.5 billion in 2018 and is expected to reach $291.3 billion by 2024. The construction industry, a major consumer of woodworking products, is also expected to grow by 2.2%.
In the United States, there are around 20 million hobbyists who engage in woodworking, with a market worth $5 billion. Around a third of these hobbyists are considered serious woodworkers, spending an average of $1,600 annually on woodworking tools and supplies.
North America and Europe are significant markets for woodworking tools, driven by DIY enthusiasts, woodworking professionals, and furniture manufacturers.

Flea markets can be a starting point to market woodworking projects, with vendors reporting earnings of $200-$500 per day after vendor fees.

Router bits account for 14% of the woodworking tools market globally, with increasing demand expected for wood CNC router bits due to automation trends. These are used in various woodworking operations like milling, drilling, grooving, profiling, engraving, and carving.