PUBLISHER: The Business Research Company | PRODUCT CODE: 1429819
PUBLISHER: The Business Research Company | PRODUCT CODE: 1429819
Grinding machinery refers to a category of tools designed to remove the rough surface of a workpiece through the use of a rotating abrasive wheel. This equipment is employed for grinding workpieces and producing highly precise products. Various components make up a grinding machine, including the wheel, wheel head, base, saddle, table, headstock, tailstock, and cross-feed.
The primary types of products within grinding machinery encompass angle grinders, bench grinders, belt grinders, wet grinders, die grinders, floor grinders, surface grinders, and CNC machines. Angle grinders, also known as disc or side grinders, are specifically utilized for grinding and polishing purposes. These products find applications in industries such as automotive, transport machinery, general machinery, precision engineering, and others. They are available for distribution through both online and offline channels.
The grinding machinery market research report is one of a series of new reports from the business research company that provides grinding machinery market statistics, including grinding machinery industry global market size, regional shares, competitors with a grinding machinery market share, detailed grinding machinery market segments, market trends and opportunities, and any further data you may need to thrive in the grinding machinery industry. This grinding machinery market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The grinding machinery market size has grown strongly in recent years. It will grow from $7.05 billion in 2023 to $7.63 billion in 2024 at a compound annual growth rate (CAGR) of 8.3%. The expansion observed in the historical period can be attributed to robust economic growth in emerging markets, an increase in construction activities, growth in the aerospace industry, heightened automotive production, and an upswing in the consumption of machine tools.
The grinding machinery market size is expected to see strong growth in the next few years. It will grow to $10.37 billion in 2028 at a compound annual growth rate (CAGR) of 8.0%. The anticipated growth in the forecast period can be ascribed to rising urbanization, the expanding shipbuilding industry, and a growing demand from the mining sector. Noteworthy trends expected in the forecast period encompass technological advancements, the integration of automation solutions, the introduction of robotic machines, Industry 4.0 grinding solutions based on IIoT (Industrial Internet of Things), product innovations, and a strategic focus on partnerships and collaborations.
The anticipated growth in the grinding machinery market is driven by the increasing prevalence of industrial automation. Industrial automation involves the control of machinery and industrial processes through autonomous systems such as robotics and computer software. This surge in industrial automation adoption is expected to drive demand for grinding machinery, as businesses seek compatible machinery with automation software and systems. A study by the Association for Advancing Automation in 2021 reported a 67% increase in global robot orders during the second quarter of 2021 compared to the same period in 2020. Consequently, the rise in industrial automation is projected to enhance the demand for grinding machinery in the forecast period.
The expanding shipbuilding industry is poised to contribute significantly to the growth of the grinding machinery market. Shipbuilding involves the manufacturing of larger vessels for military, offshore energy, or merchant fleet applications. Grinding machines find frequent use in shipbuilding applications for tasks such as weld preparation, cleaning between weld passes, and post-weld cleaning and finishing. A Congressional Budget Office analysis of the Navy's Fiscal Year 2023 Shipbuilding Plan in the USA forecasts a total cost of shipbuilding ranging from $30 to $33 billion over the next 30 years, surpassing Navy projections by 14% to 18%. The anticipated growth in the shipbuilding industry is expected to be a driving force for the grinding machinery market.
Technological advancements are emerging as a prominent trend in the grinding machinery market, with companies incorporating innovations such as computer numerical control (CNC), laser-based sharpening, and universal grinding machines. Swiss manufacturer United Grinding Group introduced the customer-oriented revolution (C.O.R.E.) technology in December 2021, enhancing productivity, adaptability, and versatility in grinding applications.
Major companies in the grinding machinery sector are focusing on robotic grinding machines. In October 2022, Indian technology company Grind Master launched ROBOFINISH, a groundbreaking machine for the robotic grinding of large castings, setting new standards in automatic fettling and precision grinding. Grind Master's technical partnership with US-based Roberts Sinto Corporation enables the manufacture and service of machines using ROBOFINISH technology in North America.
In February 2021, Romania-based EMAG Group acquired Samputensili Machine Tools and Samputensili CLC, enhancing its position in the grinding machinery market. The merger of the acquired businesses into the newly formed EMAG technology firm, EMAG SU Srl, is expected to yield synergistic benefits, driving growth in the industry. Samputensili, based in Italy, was known for manufacturing quality gear-cutting tools, including grinding machines.
Major companies operating in the grinding machinery market report are Fanuc, JTEKT Corporation, DMG Mori, Amada Co. Ltd., Makino Milling Machine Co. Ltd., ANCA Pty Ltd., Junker Group, DANOBAT GROUP, Okuma Corporation, Gleason Corporation, Mitsubishi Heavy Industries Ltd., Koyo Machine Industries Co Ltd., Micromatic Grinding Technologies Pvt Ltd., Youil Grinding Machine Co. Ltd., Jiangsu Zhihe Intelligent Equipment Co. Ltd., Quanzhou DAFON Machinery Co. Ltd., Fujian RBT Intelligent Equipment Co. Ltd., Kingsbury, ELB-SCHLIFF Werkzeugmaschinen GmbH, Heinz Berger Maschinenfabrik GmbH & Co. KG, Sokar Mechanics, Grindaix GmbH, Sonicam SAS, Strausak AG, Netzsch, Sasta, UMAC LLC, PALMARY Machinery Co. Ltd., Srednevolgsky stankozavod Ltd., GRAFS Technology, Dialeks Trading Dariusz Lipinski, Gazela Mechanika Maszyn, SCORPION, Total Grinding Solutions, Gurmeet Machinery Corporation, Novovodolazkyi Abrasive, Delta Machine Srl, Falcon Machine Tools Co. Ltd., Hybrid Manufacturing Technologies, United Grinding North America, Grindmaster Equipment and Machines USA LLC, CS Unitec Inc., Bent River Machine, Macrodyne Technologies Inc., Weldon Solutions Inc., Rochester Abrasives Industries, Equipment Manufacturers International (EMI), WMW Machinery Company, KNUTH Machine Tools, LISSMAC, Schuler AG, Sandvik AB, Yamazaki Mazak Corporation, Flow International Corporation, EMAG Machine Tools, Midrand Grinders, B.C.F. Precision Grinding Works (pty) Ltd.
Asia-Pacific was the largest region in the grinding machinery market in 2023. North America is expected to be the fastest-growing region in the forecast period. The regions covered in the grinding machinery market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the grinding machinery market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Italy, Spain, Canada.
The grinding machinery market consists of sales of hand grinders, pedestal grinders, portable grinders, and flexible grinders. Values in this market are 'factory gate' values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Grinding Machinery Global Market Report 2024 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on grinding machinery market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for grinding machinery? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The grinding machinery market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The impact of sanctions, supply chain disruptions, and altered demand for goods and services due to the Russian Ukraine war, impacting various macro-economic factors and parameters in the Eastern European region and its subsequent effect on global markets.
The impact of higher inflation in many countries and the resulting spike in interest rates.
The continued but declining impact of covid 19 on supply chains and consumption patterns.