NEWARK, Del, June 23, 2023 (GLOBE NEWSWIRE) -- The global center-less grinding machines market size is likely to reach a valuation of US$ 6.9 billion by 2023. It is estimated to surpass US$ 18 billion in 2033. The market is projected to witness steady growth at a CAGR of 10.0% from 2023 to 2033.
Future Market Insights (FMI) mentions that the global center-less grinding machines market showcased a CAGR of 12.3% during the historical period 2018 to 2022.
The centerless grinding machines market encompasses the industry dedicated to the production and distribution of these advanced grinding systems.
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Centerless grinding is a machining process that involves the removal of material from a workpiece using abrasive cutting or grinding wheels. It is highly preferred by users for precision grinding of cylindrical components such as rods, shafts, and pipes.
The market for center-less grinding machines is influenced by several factors, including the growth of sectors such as automotive, aerospace, and manufacturing. These sectors have a critical need for precision grinding.
The demand for high-quality finished products and the need for increased productivity and efficiency in manufacturing processes also drive the market.
Center-less grinding machines play a crucial role in the automotive industry, where precision and efficiency are paramount. They are used for various applications within the automotive sector, including the production of engine components, transmission parts, steering components, fuel system parts, and more.
The automotive industry requires high-precision parts with tight tolerances for several applications such as engine parts, transmission parts, shafts, and bearings. Centerless grinders offer excellent accuracy and surface finish, making them ideal for grinding cylindrical parts that meet the demanding requirements of the automotive industry.
Center-less grinders provide a cost-effective solution for car manufacturers. These machines can handle large volumes of workpieces, enabling efficient production processes and reducing grinding costs per workpiece.
Center-less grinders bring time-saving benefits to the automotive industry. Eliminating set-up time and changeover time between workpieces enables continuous grinding operations and increases production throughput.
Automation and advanced control systems are increasingly being incorporated into center-less grinders used in the automotive industry. These technologies improve process control, accuracy, and repeatability.
Automation functions such as automatic loading and unloading of workpieces, in-process measurement, and feedback systems contribute to improving efficiency and quality assurance in automotive parts manufacturing.
The key players in the centreless grinding machine market include Acme Manufacturing; Fives Group; Glebar; Hanwha Machinery; Jainnher Machine.
Key Takeaways:
- The center-less grinding machines industry stood at a valuation of US$ 6.2 billion in 2022.
- South Korea's center-less grinding machines industry is estimated to exhibit a 9.6% CAGR over the forecast period.
- Japan's centerless grinding machines industry is anticipated to create an absolute dollar opportunity of US$ 2.2 billion by 2033.
- China's center-less grinding machines industry is projected to exhibit a CAGR of 9.9% in the evaluation period.
- Based on application, the automotive segment is likely to lead and showcase a 9.7% CAGR from 2023 to 2033.
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Competitive Landscape:
Leading players in the global center-less grinding machines market invest in research and development to create new and improved products. Their goal is to bring new machines to the market with higher selectivity, lower energy consumption, and improved durability.
Manufacturers are also working on membranes that can operate at higher temperatures and pressures. These features ultimately help improve efficiency and increase applicability to a wide range of industrial processes.
Other companies have strategic partnerships and collaborations with local businesses and research institutes to share knowledge, expertise, and resources. This allows manufacturers to develop innovative technologies faster and expand their product offerings.
For instance,
- On June 2022, Agile MV, a Montreal, Quebec-based up-and-coming leader in product development and turnkey device assembly, was purchased by Resonetics. With this acquisition, Resonetics will rename its current design and development services division AGILE Product Development.
- On February 2019, Caribou Technologies, a Minnesota-based leader in center-less grinding, forming, winding, machining, and laser processing for the medical device sector, was acquired by Resonetics. In addition to working with several medical device manufacturers in the Minneapolis market, Caribou has established a solid and expanding clientele in international markets with rapid market expansion.
More Insights Available:
Future Market Insights (FMI), in its new offering, presents an unbiased analysis of the center-less grinding machines market presenting historical data (2018 to 2022) and forecast statistics for the period from 2023 to 2033.
The study reveals segments segmented in terms of machine type (precision centreless, grinding machines, general-purpose center-less grinding machines) and application (automotive, aerospace, manufacturing, electronics, medical, and others) from 2023 to 2033.
Key Segmentation:
By Machine Type:
- Precision Center-less Grinding Machines
- General-purpose Center-less Grinding Machines
By Application:
- Automotive
- Aerospace
- Manufacturing
- Electronics
- Medical
- Others
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Table of Content (ToC):
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand-side Trends
1.3. Supply-side Trends
1.4. Technology Roadmap Analysis
1.5. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Market Background
3.1. Market Dynamics
3.2. Scenario Forecast
3.3. Opportunity Map Analysis
3.4. Product Life Cycle Analysis
3.5. Supply Chain Analysis
3.6. Investment Feasibility Matrix
3.7. Value Chain Analysis
3.8. PESTLE and Porter’s Analysis
3.9. Regulatory Landscape
3.10. Regional Parent Market Outlook
3.11. Production and Consumption Statistics
3.12. Import and Export Statistics
4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033
4.1. Historical Market Size Value (US$ Billion) & Volume (Units) Analysis, 2018 to 2022
4.2. Current and Future Market Size Value (US$ Billion) & Volume (Units) Projections, 2023 to 2033
5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Machine Type
5.1. Introduction / Key Findings
5.2. Historical Market Size Value (US$ Billion) & Volume (Units) Analysis By Machine Type, 2018 to 2022
5.3. Current and Future Market Size Value (US$ Billion) & Volume (Units) Analysis and Forecast By Machine Type, 2023 to 2033
5.4. Y-o-Y Growth Trend Analysis By Machine Type, 2018 to 2022
5.5. Absolute $ Opportunity Analysis By Machine Type, 2023 to 2033
6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application
6.1. Introduction / Key Findings
6.2. Historical Market Size Value (US$ Billion) & Volume (Units) Analysis By Application, 2018 to 2022
6.3. Current and Future Market Size Value (US$ Billion) & Volume (Units) Analysis and Forecast By Application, 2023 to 2033
6.4. Y-o-Y Growth Trend Analysis By Application, 2018 to 2022
6.5. Absolute $ Opportunity Analysis By Application, 2023 to 2033
Complete TOC: https://www.futuremarketinsights.com/toc/rep-gb-17413
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