Press release
Grinding Machines Market Set to Reach $7.6 Billion by 2029 with 6% Yearly Growth
Grinding Machines Market
The expansion of the industrial manufacturing sector is anticipated to drive the grinding machines market forward. This sector is involved in creating products designed for industrial applications from raw resources. Grinding machines, which are broadly applied in industrial manufacturing for precision and surface finishing of mechanical components, are crucial to this process. For example, the National Association of Insurance Commissioners, a non-profit organization based in the United States, projected in December 2022 that by 2025 there would be 3.5 million autonomous vehicles on American roads, increasing to 4.5 million by 2030. Thus, the steady growth of the industrial manufacturing sector is fueling the expansion of the grinding machines market.
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What Is the projected market size and growth rate for the grinding machines market?
The market size for grinding machines has seen a robust expansion in recent years. It is set to increase from $5.69 billion in 2024 to $6 billion in 2025, with a compound annual growth rate (CAGR) of 5.4%. This surge during the historic period is a result of ongoing innovation in the manufacturing sector, industrial and manufacturing growth, a rising demand for precision engineering, a shift towards automation and an expanded variety of materials.
The market for grinding machines is anticipated to witness significant growth in the near future. Its value is predicted to rise to $7.6 billion by 2029, with a compound annual growth rate (CAGR) of 6.1%. Factors contributing to this growth during the predicted period include expansion in the global industry, improvements in safety and user experience, predictive upkeep and remote surveillance, digital production solutions, and the use of advanced materials. Key trends forecasted for this period are product innovation, technological development, enhanced safety and ergonomics, remote observation and predictive maintenance, digital transformation in manufacturing, and the ability to customize and adapt.
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What new trends are reshaping the grinding machines market and its opportunities?
The progression of technology is a significant trend that is growing in popularity within the grinding machines market. Major companies that are active in this market are concentrating on crafting new technology-based solutions to solidify their market position. For example, in October 2022, Grind Master, a special purposes machines producer based in India, introduced a one-of-a-kind robotic grinding technology specifically built for automated fettling and precision grinding of exotic material castings. This technology is the premier one in this industry, focusing primarily on grinding large castings.
What major market segments define the scope and growth of the grinding machines market?
The grinding machines market covered in this report is segmented -
1) By Type: Conventional, CNC, Cylindrical, Surface, Gear, Other Types
2) By Sales Channel: Franchised Outlets, Specialty Stores, Modern Trade, Online Channels
3) By End-User Industry: Automotive, Maritime Industry, Aerospace and Defense, Construction, Industrial Manufacturing, Electrical and Electronics, Other End-User Industries
Subsegments:
1) By Conventional: Manual Grinding Machines, Bench Grinders
2) By CNC (Computer Numerical Control): CNC Grinding Centers, CNC Tool And Cutter Grinders
3) By Cylindrical: External Cylindrical Grinding Machines, Internal Cylindrical Grinding Machines
4) By Surface: Horizontal Surface Grinders, Vertical Surface Grinders
5) By Gear: Gear Grinders, Gear Hones
6) By Other Types: Tool Grinders, Belt Grinders, Specialty Grinders
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Which region dominates the grinding machines market?
Asia-Pacific was the largest region in the grinding machine market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the grinding machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Which key market leaders are driving the grinding machines industry growth?
Major companies operating in the grinding machines market are Amada Holdings Co Ltd., 3M Company, JTEKT Toyoda Americas Corporation, Junker Group, L. Kellenberger & Co. AG, ANCA Pty Ltd., DANOBAT Group, Koyo Machinery Industry Co. Ltd., Okuma Corporation, Körber AG, Falcon Machine Tools Co. Ltd, United Grinding North America, Makino Milling Machine Co. Ltd., Chevalier Machinery Inc., ELB-SCHLIFF Werkzeugmaschinen GmbH, Glebar Company, Heinz Berger Maschinenfabrik GmbH & Co. KG, Komatsu Ltd., KNUTH Machine Tools SA, Studer, C. & E. Fein GmbH, Satisloh, Tacchella Elektra, Willis Machinery, Robert Bosch Power Tools GmbH, Makita Corporation, Stanley Black & Decker Inc., Husqvarna Group, Xingyi Stone Caring Tools Co. Ltd., Hardinge Kellenberger
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What Is Covered In The Grinding Machines Global Market Report?
• Market Size Forecast: Examine the grinding machines market size across key regions, countries, product categories, and applications.
• Segmentation Insights: Identify and classify subsegments within the grinding machines market for a structured understanding.
• Key Players Overview: Analyze major players in the grinding machines market, including their market value, share, and competitive positioning.
• Growth Trends Exploration: Assess individual growth patterns and future opportunities in the grinding machines market.
• Segment Contributions: Evaluate how different segments drive overall growth in the grinding machines market.
• Growth Factors: Highlight key drivers and opportunities influencing the expansion of the grinding machines market.
• Industry Challenges: Identify potential risks and obstacles affecting the grinding machines market.
• Competitive Landscape: Review strategic developments in the grinding machines market, including expansions, agreements, and new product launches.
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