PUBLISHER: The Business Research Company | PRODUCT CODE: 1246124
PUBLISHER: The Business Research Company | PRODUCT CODE: 1246124
“Grinding Machinery Global Market Report 2023 ” from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on grinding machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for grinding machinery? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The grinding machinery market global report ” from The Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
Major players in the grinding machinery market are: Makino, Amada Machine Tools Co., Falcon Machine Tools Co. Ltd., Anca, Mitsubishi Heavy Industries Ltd., Jtekt Toyoda Americas Corporation, Junker Group, Gleason Corporation, Okuma Corporation, Danobat Group, United Grinding North America, Dmg Mori, Fanuc, Koyo Machine Industries, Kehren Gmbh, Makita Corporation.
The global grinding machinery market grew from $6.48 billion in 2022 to $6.96 billion in 2023 at a compound annual growth rate (CAGR) of 7.5%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services, causing inflation across goods and services and affecting many markets across the globe. The grinding machinery market is expected to grow to $9.14 billion in 2027 at a CAGR of 7.0%.
The grinding machinery market consists of sales of the hand grinders, pedestal grinders, portable grinders, and flexible grinders. Values in this market are: 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
Grinding machinery refers to a type of tool that removes the rough surface of a workpiece by using a rotating abrasive wheel. The grinding machinery is used for grinding work pieces and delivering highly accurate products. The wheel, wheel head, base, saddle, table, headstock, tailstock, and cross feed are some of the parts presents in a grinding machine.
Asia-Pacific was the largest region in the grinding machinery market in 2022. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the grinding machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa.
The main types of products in grinding machinery include angle grinders, bench grinders, belt grinders, wet grinders, die grinders, floor grinders, surface grinders, and CNC. Angle grinders are also known as disc or side grinders. These devices are applied mainly for grinding and polishing. These products are used by industries involved in automotive, transport machinery, general machinery, precision engineering, and other applications and they are distributed online and offline.
The increase in industrial automation is expected to propel the growth of the grinding machinery market going forward. Industrial automation refers to the control of machinery and the industrial process by autonomous systems such as robotics, computer software, and others. The increasing adoption of industrial automation is expected to boost the demand for grinding machinery, as they would acquiring new machinery that is compatible with automation software and systems. According to the study published by the Association for Advancing Automation in 2021, robot orders across the globe increased by 67% in the second quarter of 2021 over the same period in 2020. Therefore, the increase in industrial automation is expected to boost demand for grinding machinery during the forecast period.
Technological advancements are a key trend gaining popularity in the grinding machinery market. Many companies operating in the grinding machinery market are using new technologies such as computer numerical control (CNC), laser-based sharpening and, universal grinding machines to sustain their position in the market. For instance, in December 2021, united grinding group, a Swiss precision machines manufacturer unveiled customer-oriented revolution (C.O.R.E.) technology. With C.O.R.E. technology, grinding applications become more productive, adaptable, and versatile. The C.O.R.E. panel simplifies machine operation and training.
In May 2020, ROL-TEC, a US-based manufacturing company providing rubber roll coverings, precision urethane as well as specialty roll services acquired axis machine company Inc for an undisclosed amount. This acquisition would provide ROL-TEC with stronger metal grinding capabilities. Axis machine company Inc is a US-based provider of precision grinding solutions. It offers machines such as diameter cylindrical grinding machines, roll grinding machines, and surface grinding machines among others.
The countries covered in the grinding machinery market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, And USA.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
The grinding machinery market research report is one of a series of new reports from The Business Research Company that provides grinding machinery market statistics, including grinding machinery industry global market size, regional shares, competitors with a grinding machinery market share, detailed grinding machinery market segments, market trends and opportunities, and any further data you may need to thrive in the grinding machinery industry. This grinding machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.