Westford, USA, June 15, 2023 (GLOBE NEWSWIRE) -- The global Grinding Machine market size is expected to reach USD 23.49 billion by 2030 and exhibit a CAGR of 5.8% in the forecast period (2023−2030), according to Skyquest's latest research report. The growing demand from various end-use industries such as automotive, aerospace, and construction, increasing adoption of CNC machines for precision grinding and better efficiency, technological advancements such as robotics, automation, and IoT, leading to increased productivity and reduced labour costs, rising demand for advanced grinding machines with multi-functionality and flexibility, growing trend of automation and digitization in manufacturing processes, increasing need for precision grinding in the medical and dental industries are fueling the Market's growth.
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Adoption of Smart Grinding Solutions to Promote the Use of Grinding Machines
At a global scale, the adoption of smart grinding solutions to improve efficiency and productivity, the growing popularity of eco-friendly grinding machines to reduce environmental impact, advancements in technology leading to the development of new and innovative grinding machines, increasing adoption of automation and robotics in grinding processes for improved precision and accuracy are promoting the market growth.
Investment in infrastructure development by governments around the world and various government policies promoting local machinery and equipment manufacturing to reduce imports and increase domestic production.
Cylindrical Grinding Machine Type Demand to Grow Substantially in the Forecast Period
Cylindrical grinding machine type dominated the global market owing to its increasing demand in various automotive, aerospace, and manufacturing industries. It also offers high precision and flexibility, which make them ideal for producing complex and intricate shapes. Additionally, the growing demand for mass production of components and parts is expected to drive the market's growth of cylindrical grinding machines.
Automotive is the Leading Application Segment
In terms of application, the automotive segment is the leading segment as it is a major consumer of grinding machines for various applications such as surface grinding, cylindrical grinding, and tool and cutter grinding. In addition, the demand for grinding machines is expected to increase in the automotive industry due to the increasing demand for automobiles across the globe, especially in emerging economies. Moreover, the increasing focus on reducing vehicle weight and improving fuel efficiency is expected to drive the demand for high-precision grinding machines in the automotive industry.
Asia-Pacific is the leading Market Due to the Presence of Major Market Players
Region-wise, Asia-Pacific is one of the largest growing markets due to several major manufacturing industries in countries such as China, India, and Japan. Moreover, the advances in grinding machine technology, such as automation and digitization, and government initiatives, such as investments in infrastructure development, are expected to support market growth in the region.
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Grinding Machine Market Report Suggests:
- Sabar, a leading manufacturer and exporter of spinning roll shop machinery, has launched a fully automated twin cot grinding machine with diameter set software. The machine is highly automated and digitized, making it a signature model in terms of technology. Sabar has installed over 3,200 machines in more than 43 countries, and its three manufacturing units in Ahmedabad are equipped with modern infrastructure and technically advanced machinery to ensure top quality standards. The company employs modern processes and systems to manufacture products that are the finest in the industry. The latest model was launched at an industry event in India.
- In terms of application, the automotive application segment dominates as it provides real time insights.
- In terms of type, the cylindrical grinding machine type type segment is projected to gain more popularity due to its continuous improvement and expertise
- Asia Pacific is the leading market and will continue to exhibit dominance in the global market mainly due to the presence of major market players
Grinding Machine Market Segmentation:
The global Grinding Machine market report is segmented based on Product type, application, and region.
By Product Type
- Surface Grinding Machine
- Cylindrical Grinding Machine
- Tool and Cutter Grinding Machine
- Bench Grinding Machine
- Belt Grinding Machine
- Gear Grinding Machine
- Jig Grinding Machine
- Others
By Application
- Automotive
- Aerospace and Defense
- Electrical and Electronics Manufacturing
- Healthcare
- Construction
- Others
By Control type
- Conventional Grinding Machine
- CNC Grinding Machine
By Region
- North America
- U.S
- Canada
- Europe
- Germany
- France
- UK
- Spain
- RoE
- Asia-Pacific
- China
- India
- Japan
- South Korea
- Rest of Asia-Pacific
- Latin America
- Brazil
- RoLA
- Middle-East and Africa
- South Africa
- GCC Countries
- Rest of MEA
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Grinding Machine Market Major Company Profiles:
- Amada Machine Tools Co., Ltd.
- ANCA Pty Ltd.
- DANOBAT Group
- DMG MORI CO., LTD.
- Fives Group
- Gleason Corporation
- JTEKT Corporation
- Makino Milling Machine Co., Ltd.
- Okuma Corporation
- Schütte GmbH & Co. KG
- SMTCL Americas
- Starrag Group
- Studer AG
- Toyoda Americas Corporation
- UNITED GRINDING North America, Inc.
- Walter Maschinenbau GmbH
- WEMA Glauchau GmbH
- Yama Seiki USA, Inc.
- ZIERSCH GmbH
- 3M Company.
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