Press release
Grinding Machines Market Outlook, Size, Share, Growth, Industry Trends And Global Forecast 2023-2032
Grinding Machines Market Report
The Business Research Company's Grinding Machines Global Market Report 2023 identifies the continually growing industrial manufacturing sector as the major driver for the grinding machines market's growth in the forecast period. Industrial manufacturing is responsible for the fabrication of products intended for industrial use from raw materials. Grinding machines have various applications in industrial manufacturing and it's used extensively for dimensional accuracy and surface finishing of the mechanical parts that are used in the manufacturing industry.
The global grinding machines market is expected to grow from $5.14 billion in 2022 to $5.47 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The market size of the grinding machines market is expected to grow to $6.6 billion in 2027 at a CAGR of 5.0%.
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Major competitors in the grinding machines market are Amada Holdings Co Ltd., 3M Company, JTEKT Toyoda Americas Corporation, Junker Group, L. Kellenberger & Co. AG.
A key trend in the grinding machines market includes technological advancement. Major companies operating in the grinding machines market are focused on developing new technological solutions to strengthen their position in the market. For instance, in April 2020, Komatsu Industries Corp, a China-based company operating in grinding machines launched the high-performance plasma cutting machine TWISTER "TFP510-3. "TFP510-3" with Komatsu stand-alone cutting technology medium and heavy thickness plate cutting. The unique features include high productivity, easy set-up operation, and user friendly, and adopted a new type of consumable cartridge type that would free up hours of set-up operation time. Also, the new operation panel can operate intuitively like the smartphone.
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The grinding machines market is segmented -
•By Type: Conventional, CNC, Cylindrical, Surface, Gear, Other Types
•By Sales Channel: Franchised Outlets, Specialty Stores, Modern Trade, Online Channels
•By End-User Industry: Automotive, Maritime Industry, Aerospace and Defense, Construction, Industrial Manufacturing, Electrical and Electronics, Other End-User Industries
•By Geography: Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. Asia-Pacific was the largest region in the grinding machines market.
The Business Research Company's "Global Grinding Machines Market Report 2023" provides a thorough understanding of the market across 60 geographies. The report covers market size, growth rate, segments, drivers and trends in every region and country. In addition, the report offers insights on historical and forecast growth, helping players analyze and strategize better.
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The Table Of Content For The Grinding Machines Market Include:
1. Executive Summary
2. Grinding Machines Market Characteristics
3. Grinding Machines Market Trends And Strategies
4. Grinding Machines Market - Macro Economic Scenario
5. Grinding Machines Market Size And Growth
……
26. Africa Grinding Machines Market
27. Grinding Machines Market Competitive Landscape And Company Profiles
28. Key Mergers And Acquisitions In The Grinding Machines Market
29. Grinding Machines Market Future Outlook and Potential Analysis}
30. Appendix
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