Grinding Machine Market Market is segmented by Type (Vapor Chamber, Variable Conductance, Diode, Thermosyphon and Others), End User (Automotive, Aerospace & Defense, Food and beverage, Energy & power), and by Region (United States, Canada, Mexico, France, Germany, Italy, Spain, United Kingdom, Russia, China, India, Philippines, Malaysia, Australia, Austria, South Korea, Middle East, Japan, Africa and Rest of World)
Grinding Machine Market Market Growth and Trends
The global grinding machine market held a market share of US$ 4.72 billion in 2018 and is expected to grow at a CAGR of 4.6% to a projected market value of US$ 6.73 billion by 2026. The increasing globalization and industrial sectors are the major driving factors behind the growth of the grinding machine market.
The increasing demand for automation has propelled the growth of the market. Presently, just 35% of work/office hours are being spent in performing daily tasks and routine jobs owing to the increasing automation sector. The desirability of automation for reduced manual labour and the elimination of personnel errors have resulted in raising the demands for grinding machines. By 2025, around 10-15% of jobs in sectors such as transport, retail, and manufacturing will be automated.
Grinding Machine Market Size shall reach a value of $xx Million in 2031, growing with a CAGR of 9.1% during the forecast period of 2022 to 2031.
The increasing globalization has resulted in emerging economies with a heightened pace of economic growth and industrial setups. The expanding industrial and manufacturing sectors are the major contributors towards the market growth. The cylindrical grinding machine segment is most popular among the industry circles. The upcoming innovations in the cylindrical grinding machine segment are expected to promote it to hold the largest market share by 2025.
The aircraft manufacturing sector is also owing to the grinding machine market growth. The increasing urbanization has lead to high deals of migration and traveling overseas. The rising need for aircraft underpinned by the increasing air travel by Governments, defence, and commercial airlines has augmented the need for utilizing the grinding machines in the aerospace sector. The increasing key investments made by the defence sector are forecasted to boost the sales of the grinding machines.
The metal processing industry induces a high demand for grinding machines for the production of heavy machineries. The automotive sector is also promoting the grinding machine market growth by the uptake of grinders. The rising levels of technological innovations in the grinding machinery coupled with adopting accurately precise grinding technology are bolstering the market growth. The increasing investments by the top market players to enlarge the R&D capacity to produce high-performance grinding machines in order to strengthen their foothold in the market are expected to drive the grinding machine market upwards.
Grinding Machine Market Industry Regional Analysis
Asia-Pacific is the largest grinding machine market. Various industries, such as aerospace, automotive, and tooling, have a high demand for this material. The global grinding machine market will be driven by the aerospace industry. Developing countries such as Indonesia, Vietnam, and India are buying aircraft to boost the aerospace industry. India is expected to receive two B777 aircraft by 2020. In recent years, North America has experienced significant growth due to the metal processing industry. The grinding machinery market is projected to grow positively due to the strong foothold of the automotive industry in Europe. As Turkeys machine manufacturing industry grows, the Middle East & Africa are growing. Mining and construction equipment are in high demand in these areas. Metal fabrication is expected to boost the market for grinding machines in Latin America.
Grinding Machine Market Market Research Report Scope/Definition
Grinding Machine Market Market Share and Competition Key companies operating in this industry are:Amada Machine Tools Co. Ltd., DANOBAT, ANCA Pty Ltd, Junker Group, Körber AG, Fives Group, Gleason Corporation, Hybrid Manufacturing Technologies, Makino Milling Machine Co. Ltd, JTEKT Corporation, Hardinge, INC., HTC Sweden AB, and Okuma Corporation. The manufacturers of grinding machines are focusing on high precision and efficiency through the development of new products. In addition, special purpose machines are being offered by the players. Among them is JTEKT Toyoda Americas Corporation, which provides high-production camshaft and crankshaft grinding machines. To improve production, manufacturers focus on speed and feed rates. In addition, leading players are focusing on improving the design of grinders to reduce thermal issues. By using a steel plate with an air gap, JTEKT Toyoda Americas Corporation has changed its casting design to control heat fluctuation.
Grinding Machine Market Market Research Report Analysis Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2022 – 2031)
• Data breakdown for every market segment (2022 – 2031)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy
Industry Segmentation and Revenue Breakdown
Type Analysis (Revenue, USD Million, 2022 - 2031)
• Tool & Cutter
Application Analysis (Revenue, USD Million, 2022 - 2031)
• Aerospace & Defense
• Electrical & Electronics
• Consumer goods
• Machine tools & Parts
Control Type Analysis (Revenue, USD Million, 2022 - 2031)
Region Analysis (Revenue, USD Million, 2022 - 2031)
• United States
• United Kingdom
• South Korea
• Middle East
• Rest of World
Grinding Machine Market Industry Companies
• Amada Machine Tools Co. Ltd.,
• ANCA Pty Ltd,
• Junker Group,
• Körber AG,
• Fives Group,
• Gleason Corporation,
• Hybrid Manufacturing Technologies,
• Makino Milling Machine Co. Ltd,
• JTEKT Corporation,
• HTC Sweden AB,
• Okuma Corporation.
Available Versions of Grinding Machine Market Market: -
United States Industry Research Report
Europe Industry Research Report
Asia Pacific Industry Research Report
India Industry Research Report
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