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

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).

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. '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', '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.'

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.

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.

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.