The market for grinding machines has a value of US$ 14,962.4 million as of 2022, and by the end of 2032, it is anticipated to grow at a CAGR of 5.8% to reach US$ 26,324.2 million. The grinding machines market refers to the global market for machines that are used to shape and finish metal or other materials through grinding, which involves the use of abrasive wheels or belts to remove material and produce a smooth surface finish.
The market for grinding machines is driven by factors such as the increasing demand for precision and high-quality products in various industries such as automotive, aerospace, and manufacturing. Additionally, the growing need for automated grinding solutions to improve productivity and reduce labor costs is also contributing to the growth of the market.
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The market is segmented based on type, application, and region. By type, the market is classified into cylindrical, surface, gear, tool & cutter, and others. By application, the market is segmented into automotive, aerospace & defense, electrical & electronics, consumer goods, and others. Geographically, the Asia Pacific region is expected to dominate the market due to the increasing demand for grinding machines in countries such as China, India, and Japan. North America and Europe are also significant markets for grinding machines, driven by the presence of several key players and the increasing demand for precision machinery
Key Takeaways from Market Study
- The global grinding machines market is projected to reach US$ 26,324.2 million by 2032.
- The market witnessed 0.4% CAGR between 2017 and 2021.
- Online in sales channel segment dominates the market with 46.2% market share in 2022.
- Under End-Use Industry, industrial manufacturing dominates the market and are valued at US$ 3,689.3 million in 2022.
- Based on region, demand for grinding machines expected to increase at CAGR of 6.9% in East Asia during the forecast period.
What’s Driving High Demand for Grinding Machine across Regions?
The high demand for grinding machines across regions is being driven by several factors. Firstly, there is a growing need for precision and high-quality products in various industries such as automotive, aerospace, and manufacturing. Grinding machines are used extensively in these industries to shape and finish metal or other materials, which is driving demand for these machines.
Secondly, there is an increasing demand for automated grinding solutions to improve productivity and reduce labor costs. This is particularly important in industries such as manufacturing, where there is a need to produce large quantities of products efficiently.
Thirdly, the growing trend towards the adoption of advanced technologies such as CNC machines and robotic automation is also driving demand for grinding machines. These technologies help to improve the accuracy and efficiency of the grinding process, which is essential for industries that require high precision machining.
- JTEKT Toyoda Americas Corporation and Ace Micromatic Group joined forces on February 10, 2020 to provide high-speed production equipment.
- JTEKT Toyoda Americas Corporation presented brand-new products and manufacturing solutions at a technical fair on June 23, 2020.
Key Companies Profiled
- Robert Bosch Power Tools GmbH
- Makita Corporation
- Stanley Black & Decker, Inc.
- Xingyi Stone Caring Tools, Co Ltd
- Xingyi Stone Caring Tools, Co Ltd
- Blastrac BV
- Shaanxi Ronlon Machinery Co.,Ltd