USD 14142.16 million
Grinding Machine Market Size, Share, Growth Analysis, By Product(CNC and Conventional), By Application(Automotive, General Machinery, Precision engineering, Transport Machinery), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG20I2157 |
Region:
Global |
Published Date: February, 2024
Pages:
242
|Tables:
63
|Figures:
77
Grinding Machine Market Insights
Grinding Machine Market size was valued at USD 14142.16 million in 2019 and is poised to grow from USD 14962.4 million in 2023 to USD 23490.2 million by 2031, growing at a CAGR of 5.8% in the forecast period (2024-2031).
The grinding machine market is anticipated to be driven by rising demand for computer-controlled grinding machines. Due to high precision requirements, this is also due to an increase in industrial automation activities. Grinding machines will likely become more common as finishing equipment in a variety of industries due to the rise in demand for high-quality surfaces, such as the automotive and aerospace sectors. In the upcoming years, high grinding machine market revenue is anticipated due to the increasing technological advancements. For example, the latest grinding wheel technology in cylindrical grinding machines controls a variety of functions, such as dressing and material processes and pump options.
Additionally, the grinding machines' intelligent software is simple to operate, resulting in increased productivity. There are many different kinds of grinding machines, including gear grinders, belt grinders, jig grinders, bench grinders, and so on. These are useful for a variety of applications in the automotive, engineering, and electrical industries, among others. The demand for grinding machines is primarily being driven by economic and industrial development in various industrial verticals like electric vehicles, automotive, aerospace, and FDM technology. Since grinders are helping the market grow, manufacturers are paying more attention to grinding machines.
In addition, the market's expansion is aided by the rising demand for commercial vehicles and the expansion of infrastructure activity. The market for grinding machines will benefit greatly from the expansion of mining and industrial activities.
US Grinding Machine Market is poised to grow at a sustainable CAGR for the next forecast year.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
CNC
Fastest Growth
CNC
Growth Rate
5.8% CAGR
Global Grinding Machine Market ($ Bn)
Country Share for Asia Pacific Region (%)
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Grinding Machine Market Segmental Analysis
The Grinding machine market is segmented on the basis of by product, By Application and by region. Whereas, by product analysis it is sub segmented into the CNC and Conventional. By Application it is sub segmented into Automotive, General Machinery, Precision engineering, Transport Machinery, and others. The region is segmented on the basis of North America, Europe, Asia pacific, Middle East and Africa, Latin America.
Grinding Machine Market Analysis by Product
Based on the product, The CNC majority of the grinding machine market is held by the grinding machine segment. This is because of the increased demand for high precision and efficiency in time, lower operational costs, and increased productivity. One of the main drivers of the grinding machines market is the significant rise in the use of cylindrical grinding machines. This is because there is a greater demand for high-precision items like bearings, busing, tubes, and rods. The grinding machine market is also anticipated to expand as a result of product and software technological advancements. For instance, the aerospace industry is interested in the replacement of chrome plating with HVOF coatings on cylindrical grinding machines. The rising demand for precise small parts production is driving up the demand for surface grinding machines. The technological advancements in grinding machines have an effect on the size of the conventional grinding machines market. Additionally, it is anticipated that high grinding machines will gain market share due to the rise in demand for centerless grinding machines and their shorter operating times. The aerospace, electronics, and automotive industries are expected to increase their demand for precision gear grinding machines in the near future.
Grinding Machine Market Analysis by Application
Based on the Application, The grinding machines market is anticipated to be driven by the growing demand fozr a wide range of applications, including aerospace, automotive, medical, and die and mold industries. The automotive industry makes extensive use of grinding machines for outside and inside diameter grinding, such as on hydraulic steering pistons, brake pistons, cylinders, spline and gear shafts, connecting rods, and camshafts. The automotive parts are fitted with extreme precision through the grinding process. The fastest growth in precision engineering can be attributed to the rising demand for vital components in sectors like the aerospace, oil and gas, semiconductor, and consumer electronics and electrical industries. In addition, the growing industrialization of developing economies like China, India, and Vietnam is positively impacting the size of the global machinery market. Additionally, the rise in trades is increasing the need for transportation equipment.
Global Grinding Machine Market By Product
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Grinding Machine Market Regional Insights
In the coming years, the grinding machines market share will be dominated by Asia-Pacific .The accelerated pace of the region's industrial activities, supported by rapid economic growth, is the primary factor in the region's impressive performance. In addition, the region's demand for aircraft is rising as a result of rising air travel, which encourages the use of grinding machines in aircraft production.
Due to rising demand from the metal processing industry for heavy machinery, the market in North America is expected to expand, While the adoption of grinders in the automotive industry will dominate the market in Europe.
Global Grinding Machine Market By Region
- Largest
- Fastest
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Grinding Machine Market Dynamics
Grinding Machine Market Drivers
Effective Results to Boost Demand for Grinding Machines in the Global Market
- The growing popularity of cylindrical grinding machines in industry is fueling the growth of the grinding machines market. Cylindrical grinding, also known as center-type grinding, involves rotating the spindle with kinetic energy to lock a workpiece between two centers. When compared to other kinds of grinding machines, these grinders offer significant advantages. For instance, cylindrical grinders can efficiently and effectively grind extremely tough materials. Additionally, these grinders are able to produce surfaces that are precise and smooth due to their circular motion, demonstrating superior mechanical capabilities. Numerous businesses are introducing cutting-edge products for end users because they are aware of the manufacturing potential of cylindrical grinders. For instance, ZEMA, a subsidiary of the JUNKER Group, uses turbocharger shafts in its NUMERIKA cylindrical grinder to cut cycle times and improve machine efficiency. During the forecast period, such innovations are anticipated to accelerate this market's expansion.
Grinding Machine Market Restraints
High Cost associated with Manufacturing Process to Hinder Market Growth
- The machine's high manufacturing cost is the primary impediment to market expansion. The grinding machinery market is struggling to expand because of the high costs of manufacturing and upkeep.
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Grinding Machine Market Competitive Landscape
In order to develop and market robust grinding machines with a high efficiency quotient, major players are increasing their R&D investments. Companies launch these products with the intention of expanding their market share and strengthening their portfolios with solutions that are ready for the future.
Grinding Machine Market Top Players Company Profiles
- Amada Machine Tools Co., Ltd.
- ANCA Pty Ltd.
- DANOBAT Group
- DMG MORI Co., Ltd.
- Doimak, S.L.
- Fives Group
- Gleason Corporation
- JTEKT Corporation
- Körber AG
- Makino Milling Machine Co., Ltd.
- Okuma Corporation
- Palmary Machinery Co., Ltd.
- Schaudt Mikrosa GmbH
- SMTW (Shanghai Machine Tool Works) / SJ Corp.
- Supertec Machinery Incorporated
- Taiyo Koki Co., Ltd.
- Toyoda Machine Works, Ltd.
- Tsugami Corporation
- UNITED GRINDING Group
- Walter Maschinenbau GmbH
Grinding Machine Market Recent Developments
- In January 2022, To meet these demands, the Italian business Morgan Tecnica (a member of the ATE Group) developed the single ply cutting technology. The PLY1 has many cutting heads for both soft and hard textile materials. Up to a thickness of 60 mm, PLY1 can rapidly and correctly handle a variety of fabrics, including carpet fabric and even exotic materials with unique compositions and dimensions.
- In April 2021, Ingersoll Machine Tools initiated the 40,000 square foot addition for the Giant Magellan Telescope building. An Ingersoll MasterMillTM will be built as part of the development, making the new building one of the largest milling centers in the nation and satisfying the industrial needs of the U.S. Defense Department.
Grinding Machine Key Market Trends
- The grinding machine market is in high demand as grinding machines become increasingly capable of providing stable processing temperatures. This is because new chillers and heaters are becoming more and more popular in critical applications like the aerospace and automotive industries. In addition, it is anticipated that grinding machine modernization will arise as a result of the requirement for increased speed and flexibility.
Grinding Machine Market SkyQuest Analysis
Sky Quest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Services team that Collects, Collates, Co-relates, and Analyses the Data collected using Primary Exploratory Research backed by robust Secondary Desk research.
According to our global grinding machine market analysis, The CNC segment controls the majority of the grinding machine market. The grinding machines market share will be dominated by the Asia-Pacific region. An important trend that is becoming more and more popular in the grinding machinery industry is technological advancement. To maintain their place in the market, several companies selling grinding machinery are utilizing cutting-edge technologies including Computer Numerical Control (CNC), laser-based sharpening, and universal grinding machines.
| Report Metric | Details |
|---|---|
| Market size value in 2019 | USD 14142.16 million |
| Market size value in 2031 | USD 23490.2 million |
| Growth Rate | 5.8% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Million |
| Segments covered |
|
| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
Grinding Machine Market Recent Developments
|
| Customization scope | Free report customization with purchase. Customization includes:-
|
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Grinding Machine Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Grinding Machine Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Grinding Machine Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Grinding Machine Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Grinding Machine Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Grinding Machine Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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