Grinding machine refers to a machine tool used for grinding, typically using an abrasive wheel. The machine is used for finishing different work pieces ranging from domestic consumer goods to aerospace parts and components. This makes grinding machine useful for an extensive range of applications. Grinding machine is normally used for providing precise shape and finishing to the given semi-finished products/materials having little surface roughness and requiring high surface quality. This is typically used for smoothening relatively small quantities of metal, so as to deliver highly accurate products. Due to stringent requirement for precise finishing across various applications, grinding machines have found immense penetration across different industry verticals worldwide.
Grinding is an inevitable process required in any industrial manufacturing application, making grinding machine one of the most integral machines used in industrial manufacturing. Due to heavy demand for machine tools worldwide, the overall grinding machine market is set to continue witnessing robust growth in the coming years. The most prominent factor driving the market growth is continually growing industrial manufacturing sector and revival of automotive industry worldwide. The automotive industry, especially in developed economies such as North America and Western Europe witnessed a gradual slowdown in the beginning of this decade owing to unstable economic conditions. However, with financial markets showing economic stability, the automotive industry in these regions is poised to regain its original growth levels, offering necessary push to the market growth, especially during first half of the forecast period.
Thus, the ever rising industrial manufacturing across various verticals worldwide is the most significant factor propelling the market growth. Rising efforts towards maximizing manufacturing capacity is expected only spur the demand for these equipment in the coming years. Another major factor fueling the market growth is availability of wide range of machines designed to be suited across numerous critical applications. With the increasing types of designs and products, more sophisticated grinding machines are estimated to emerge in the coming years, thereby driving the overall market growth.
Some of the major companies operating in the market include 3M Company, Amada Holdings Co., Ltd., ANCA Pty Ltd., Junker Group, JTEKT Toyoda Americas Corporation, L. Kellenberger & Co. AG, DANOBAT Group, Koyo Machinery USA, Inc., WMW Machinery Company, Okuma Corporation and Korber AG. Amongst these, Amada Machine Tools Company, Okuma Corporation and 3M Company form among the leading companies of the market. Grinding machines manufacturers are primarily engaged in expanding their product portfolio due to varied grinding requirement across different industry verticals. In addition, strategic partnerships and acquisition too form prominent strategies for these companies in order to expand customer base as well as geographic reach.
The report provides market value and estimates for grinding machines market for the period 2019 to 2029, with forecast period from 2021 to 2029.
On the basis of product types, the global grinding machine market is categorized into following categories:
In 2020, the overall grinding machines market worldwide was dominated by the cylindrical grinding machines segment. Cylindrical grinding machines are among the most popular grinders used across various applications such as machine tools & parts manufacturing, automotive and others. In addition, due to high cost per unit, the segment revenue becomes significantly higher as compared to other counterparts. Due to ongoing advancement, the segment is projected to retain its dominant position in the market throughout the forecast period. The segment is followed by surface and gear grinding machines segment. Similar to cylindrical grinding machines, these products too find extensive application in automotive and machine tools & parts manufacturing. Subsequently, the segments are estimated to exhibit robust growth during the forecast period.
On the basis of application, the grinding machines market is classified into following categories:
The overall grinding machines market was led by the automotive and machine tools & parts manufacturing segment, in 2020. The two segments collectively contribute to nearly 50% of the total market revenue generated worldwide. Machine tools & parts and automotive manufacturing are among the largest verticals across the overall manufacturing industry worldwide. Of these, machine tool & parts manufacturing contributes to higher share, in terms of market value. The overall expenditure on machine tools is expected to continue growing in the following years. This is the most prominent factor estimated to drive the demand for related grinding machines during the forecast period. Due to high requirement of grinding process (as compared to other applications), machine tool & parts manufacturing and automotive segments are estimated to remain the largest applications throughout the forecast period. The segments are followed by consumer goods manufacturing and aerospace & defense segments. Aerospace & defense segment is projected to register the highest growth during the forecast period.
In 2020, the global grinding machine market is dominated by the Asia Pacific region contributing to more than 40% of the overall market revenue. The region is home to huge manufacturing industry across machine tools, automotive, electronics, consumer products and others. Strong anticipated growth in the manufacturing sectors of China, India, South Korea and others would continue to exhibit robust demand for machine tools in the coming years. As a result, the region is projected to retain its leading position in the market throughout the forecast period. Europe follows Asia Pacific in the overall grinding machines market. The market here is majorly governed by the U.K., Germany, France and Spain, due to their huge manufacturing sector.
Historical & Forecast Period
This study report represents analysis of each segment from 2022 to 2032 considering 2023 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2024 to 2032.
The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.
Research Methodology
The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Grinding Machines market are as follows:
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.
| ATTRIBUTE | DETAILS |
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| Research Period | 2022-2032 |
| Base Year | 2023 |
| Forecast Period | 2024-2032 |
| Historical Year | 2022 |
| Unit | USD Million |
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Region Segment (2022-2032; US$ Million)
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Key questions answered in this report
