Pune, Jan. 17, 2020 (GLOBE NEWSWIRE) -- The global Grinding Machines Market size is expected to reach USD 6.73 billion by 2026 on account of increasing demand from automobile industries worldwide. According to a report published by Fortune Business Insights™ titled, “Grinding Machines Market Size, Share & Industry Analysis, By Product (CNC (Cylindrical Grinding Machine, Surface Grinding Machine, Others (Centerless Grinding Machine, Gear Grinding Machines)), Conventional), By Application (Automotive, General Machinery, Precision Machinery, Transport Machinery, Others) and Regional Forecast, 2019-2026,” the market value was USD 4.72 billion in 2018. The market is likely to exhibit a CAGR of 4.6% and grow remarkably in the forecast period of 2019 to 2026.
Highlights of the Report
The report on grinding machines is based on in-depth analysis and provides a 360-degree overview of the market. It mainly emphasized on growth drivers, restraints, trends, and opportunities. Besides this, the report classifies the various segments of the market and the names of the significant players operating in the Grinding Machines Market. The report also discusses the key strategies adopted by players such as mergers and acquisitions, product launch, company collaborations, and others. These strategies will help investors understand the competitive landscape of the market and its future scope.
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Increasing Demand from Aerospace Industry to Augment Market Growth
The rise in the capability of grinding machines that offer stable processing temperatures is a major factor boosting the grinding machines' market growth. This is further attributed to the improved heaters and chillers section that are used significantly in applications such as automotive and aerospace industries. Besides this, there is a rise in need for modern grinders with fast and flexible speed blades, and this is further expected to increase the overall grinding machinery market size during the forecast period.
Moreover, the rising adoption of Industry 4.0 for data exchange and automation for manufacturing technologies have further propelled manufacturers to add sensors in grinders for maintenance and prediction purposes. This is further anticipated to help increase the overall grinding machine market size in the forecast period.
Increasing Demand for Acquiring New Aircrafts to Help Asia Pacific Lead Market
As per the geographical approach, the market is dominated by Asia Pacific on account of the rise in demand from different industries such as tooling applications, automotive, and aerospace. In 2018, Asia Pacific accounted for USD 2.62 billion grinding machinery market share on account of the procurement of new aircraft from developing nations such as India, Vietnam, and Indonesia. To cite an example, India is expecting the arrival of two B777 planes by the end of 2020. Additionally, the rise in demand from the metal processing industry is anticipated to help North America attract high grinding machine market revenue in the forecast period.
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Players to Focus on Improving Speed and Feed Rate of Grinding Equipment
Key Grinding Machines Market manufacturers are emphasizing on introduction of special purpose grinding machines. To cite an example, crankshaft and camshaft grinding machines by JTEKT Toyoda Americas Corporation are specifically designed for high production in the automotive industry. Apart from this, players are also trying to improve the speed and feed rate of the grinding equipment in order to multiply the production rates in the coming years. Furthermore, market vendors are also trying to improvise on the grinder design for reducing the thermal problems and control heat fluctuation in order to enhance the productivity of grinding machines.
Some of the key industry developments in the Grinding Machines Market are:
January 2018 –The world leading producer of CNC grinding machines ANCA launched their TapXmicro grinding solution for single setup grinding micro taps of 3mm. These grinding machines are specially designed for use in the micro tap market.
August 2019 – 360-degree range of STUDER internal cylindrical grinding machines was launched by the United Grinding North America. This machine is applicable for use in high production and radii grinding operations.
List of the key grinding machinery market manufacturers include:
- Falcon Machine Tools Co., Ltd
- JTEKT Toyoda Americas Corporation
- United Grinding North America
- DANOBATGROUP
- Junker Group
- ANCA
- Makino
- DMG Mori
- Mitsubishi Heavy Industries, Ltd
- Amada Machine Tools Co., Ltd.
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Table of Content:
- Introduction
- Definition, By Segment
- Research Approach
- Sources
- Executive Summary
- Market Dynamics
- Drivers, Restraints and Opportunities
- Emerging Trends
- Key Insights
- Macro and Micro Economic Indicators
- Key Technological Developments
- Consolidated SWOT Analysis of Key Players
- Global Grinding Machines Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Sizing Estimations and Forecasts – By Product (Value)
- CNC
- Cylindrical Grinding Machine
- Surface Grinding Machine
- Others (Centerless Grinding Machine, Gear Grinding Machines and others.)
- Conventional
- CNC
- Market Sizing Estimations and Forecasts – By Application (Value)
- Automotive
- General Machinery
- Precision engineering
- Transport Machinery
- Others
- Market Analysis, Insights and Forecast – By Region (Value)
- North America
- Europe
- Asia Pacific
- Middle East & Africa
- Latin America
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