PUBLISHER: The Business Research Company | PRODUCT CODE: 1270376
PUBLISHER: The Business Research Company | PRODUCT CODE: 1270376
“Grinding Machines 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 machines 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 machines ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? “The grinding machines 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.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of COVID-19 on supply chains and consumption patterns.
Major players in the grinding machines market are Amada Holdings Co Ltd., 3M Company, JTEKT Toyoda Americas Corporation, Junker Group, L. Kellenberger & Co. AG, ANCA Pty Ltd., DANOBAT Group, Koyo Machinery Industry Co Ltd., Okuma Corporation, Korber AG, Falcon Machine Tools Co Ltd., United Grinding North America, Makino, Chevalier Machinery Inc., ELB-SCHLIFF Werkzeugmaschinen GmbH, Glebar, Heinz Berger Maschinenfabrik GmbH & Co. KG, and Komatsu Ltd.
The global grinding machines market is expected to grow from $5.14 billion in 2022 to $5.47 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. 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 and affecting many markets across the globe. The grinding machines market is expected to grow to $6.6 billion in 2027 at a CAGR of 5.0%.
The grinding machine market consists of sales of angle grinders, bench grinders, belt grinders, wet grinders, die grinders, floor grinders, surface grinders, CNC, and other types. 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.
A grinding machine refers to a tool that uses an abrasive wheel as the cutting tool. These are used to grind workpieces and shape the dimensions of a workpiece for utility and industrial purposes.
Asia-Pacific was the largest region in the grinding machine market in 2022. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the grinding machines report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The main types of grinding machines are conventional, CNC, cylindrical, surface, gear, and others. Conventional is tending to follow what is done or considered acceptable by society in general, normal and ordinary. The various sales channels involved franchised outlets, specialty stores, modern trade, and online channels, which are used in automotive, maritime industry, aerospace and defense, construction, industrial manufacturing, electrical and electronics and others.
Growing industrial manufacturing sector is expected to propel the growth of the grinding machines market going forward. Industrial manufacturing is responsible for the fabrication of products intended for industrial use from raw materials. Grinding machines have various applications in industrial manufacturing and it's used extensively for dimensional accuracy and surface finishing of the mechanical parts that are used in the manufacturing industry. For instance, in March 2022, according to United Nations Industrial Development Organization, an Austria-based specialized agency of the United Nations, Global manufacturing production increased by 9.4 percent in 2021, after a drop of 4.2 percent in 2020. Therefore, the continually growing industrial manufacturing sector is driving the growth of the grinding machines market.
Technological advancement is a key trend gaining popularity in the grinding machines market. Major companies operating in the grinding machines market are focused on developing new technological solutions to strengthen their position in the market. For instance, in April 2020, Komatsu Industries Corp, a China-based company operating in grinding machines launched the high-performance plasma cutting machine TWISTER "TFP510-3" ."TFP510-3" with Komatsu stand-alone cutting technology medium and heavy thickness plate cutting. The unique features include high productivity, easy set-up operation, and user friendly, and adopted a new type of consumable cartridge type that would free up hours of set-up operation time. Also, the new operation panel can operate intuitively like the smartphone.
In October 2021, Hardinge Inc., a US-based manufacturer of machine tools acquired J.G WEISSER SOHNE GmbH & Co. KG for an undisclosed. With this acquisition of the location in St. Georgen, an additional building block has been laid in the location strategy of Hardinge Inc to be able to serve customers in Europe even better. J.G WEISSER SOHNE GmbH & Co. KG is a Germany-based company operating in grinding machines.
The countries covered in the grinding machines market report are: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, 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 machines market research report is one of a series of new reports from The Business Research Company that provides grinding machines market statistics, including grinding machines industry global market size, regional shares, competitors with a grinding machines market share, detailed grinding machines market segments, market trends and opportunities, and any further data you may need to thrive in the grinding machines industry. This grinding machines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.