Grinding Machine Market 2024 – Market Size & Segments Analysis, Industry Trends, Manufacturers Analysis, Opportunities and Forecast 2030

Page: 215 | Report Code: MC240611 | Research Suite: Report (PDF) & Market Data (Excel)

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The global grinding machine market was valued at USD 4.9 billion in 2022, and a CAGR a CAGR of 8.9% is expected during the forecast period. Increasing demand for high surface quality is likely to result in a high a high penetration of grinding machines in the market. Technological advancements in grinding machines are expected to drive high demand for the grinding the grinding machine market significantly. With an increase in the adoption the adoption of automation in manufacturing processes, there is a growing demand for advanced grinding machines.

Innovations have resulted in CNC grinding machines, and advanced grinding wheel technologies have improved the efficiency, accuracy, and versatility of grinding machines. The expansion of manufacturing activities across various sectors globally fuels the demand for growing products. Increasing demand for precision and accuracy in various industries is the key factor driving the growth of the market.


Growth Drivers

Infrastructure development projects worldwide drive demand for construction machinery, including grinding machines used for construction-related activities like road paving, and concrete grinding is driving demand for the grinding machine market. Increasing demand for grinding and finishing metals, woods, and other materials with accuracy is the demand of the time. Manufacturers of grinding machines are developing eco-friendly and energy-efficient solutions to meet regulatory standards and address environmental concerns, attracting environmentally conscious consumers.

The expansion of manufacturing activities and increasing demand from the construction industry in the near future are driving significant growth in the grinding machine market. Efficiency, accuracy, and versatility of grinding machines are driving the demand in the market towards significant growth. Industrialization, technological advancements, and demand from sectors like automotive, aerospace, and manufacturing are driving significant growth in the market.

Increasing demand from various sectors like automotive, aerospace, and transport machinery is driving growth in the market significantly. Technological advancement and industrial development are driving the growth of the market significantly. Grinding machines are widely used in almost every industry. Increasing demand for precision and accuracy in industries is driving growth in the market.

Segmentation

By Product Type

·         CNC

o   CNC Roll Grinders

o   CNC Crankshaft Grinders

o   CNC Plain Cylindrical Grinders

o   CNC Surface Grinders

·         Conventional

o   Angle Grinders

o   Bench Grinders

o   Belt Grinders

o   Wet Grinders

o   Die Grinders

o   Floor Grinders

o   Surface Grinders

By Sales Channel

·         Franchised Outlets

·         Specialty Stores

·         Modern Trade

·         Online Channels

o   Manufacturer’s Website

o   Third Party Website

By End-Use

·         Automotive

·         Aerospace and Defense

·         Precision Engineering

·         Transport Machinery

·         General Machinery

·         Others

Regional Outlook

·         Asia Pacific

·         North America

·         Latin America

·         Europe

·         Middle East and Africa

Grinding Machine Market by Sales Channel Segmentation

On the basis of sales channels, the grinding machine market is segmented into franchised outlets, specialty stores, modern trade, and online channels. Franchised outlets are the leading segment in the market, and online channels are expected to maintain their dominance during the forecast period. Franchised outlets offer personalized service and a physical presence, while online channels provide convenience and access to a wider range of options.

Specialty stores cater to niche markets, providing in-depth knowledge and personalized services to customers. Modern trade channels offer convenience and accessibility to a wide range of consumers, featuring competitive pricing and extensive product selections.


Grinding Machine Market by End-User Segmentation

On the basis of the end-user, the grinding machine market is segmented into automotive, aerospace and defense, precision engineering, transport machinery, general machinery, and others. The automotive industry is expected to dominate the market and is expected to dominate during the forecast period due to its extensive use of precision parts and components that require high-quality surface finishes. Grinding machines are essential for achieving the tight tolerance and surface finishes needed for automotive components like engine parts, transmission gears, and brake components.

Increasing demand for innovation and efficiency in the automotive industry is driving growth in the market significantly. In the aerospace and defense industries as well, grinding machines play a crucial role in manufacturing precision components with extremely tight tolerances. Grinding machines are used to produce the parts that are required to ensure safety, reliability, and tolerance. High precision grinding capabilities are required to achieve dimensional accuracy for critical components, and advancements in grinding technologies and the efficiency of grinding processes are driving significant growth in the market. Transport machinery and general machinery also require grinding machines for accuracy and precision. The increasing use of grinding machines in almost every industry is driving growth in the market.

Regional Outlook

On the basis of the regions, the grinding machine market is segmented into 5 regions: Asia Pacific, North America, Latin America, Europe, and the Middle East and Africa. Robust industrial infrastructure in North America, technological advancements, and high demand from key industries like automotive, aerospace, and manufacturing. A strong focus on research and development in the region is driving the growth of the market significantly. Technological advancements in emerging economies like China, Japan, South Korea, and India are driving growth in the market significantly.

Favorable government policies further drive growth in the region. Increasing urbanization and industrialization are the main reasons behind the growth in the market. In Europe, the market is characterized by a strong emphasis on precision engineering and high-quality manufacturing, with Germany leading the region. Factors such as technological innovations, stringent quality standards, and a focus on sustainability drive the grinding machine market in Europe. Both Asia Pacific and Europe present a significant opportunity for growth in machine grinding markets.

The Middle East and Africa are also witnessing moderate growth during the forecast period. Region’s expanding industrial sector, and the oil and gas sector in particular, along with mining and construction. South Africa, Egypt, Nigeria, and the UAE are the key players due to their heavy investment in infrastructure and manufacturing. In Latin America, the grinding market is driven by the region’s automotive, aerospace, and construction industries. Brazil, Mexico, Chile, and Argentina are the major contributors to the expansion of the market. Factors like currency fluctuations and uncertainty in trades are also big reasons behind the growth in the market.


Key Players

·         Amada Machine Tools Co. Ltd

·         United Grinding North America

·         ANCA

·         Mitsubishi Heavy Industries Ltd

·         Junker Group

·         DMG Mori

·         Falcon Machine Tools Co. Ltd.

·         JTEKT Toyoda Americas Corporation

·         DANOBATGROUP

·         Makino

·         Other Players

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