Grinding machinery is used in industries for fine surface finishing. It removes the excess surface material and makes the surface smoother. Grinding machinery is an abrasive wheel that is used as a cutting tool to get high-quality surface material. Some types of grinding machinery include bench grinder, jig grinder, and gear grinder, which are used in automobile and electrical industries.
With the growing industrialization and the changing demands of industries, grinding machines have evolved a lot over the years. The key factor driving market growth include increasing industrial manufacturing industry activities across the world. The grinding machinery market is expected to grow at a CAGR of 4.9% by 2024.
Grinding machinery is capital heavy, which might limit market growth. Though major economies are providing growth opportunities for global vendors by granting more funding, the growing industrialization in developing economies will boost the market demand in the coming years.
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The global grinding machinery market can be segmented by application, product type, and distribution channel. By product type, the market can be categorized as cylindrical, surface, gear, and tool & cutter. Of these, the cylindrical surface is the highest contributor to the market share and is predicted to grow rapidly in the forecast period. This is a result of increasing usage of CNC cylindrical grinding machines within machine tools & parts.
Aerospace, defense, electrical, shipbuilding, and automobile are the primary applications of grinding machinery. The growing demand for automobiles across the world has made this industry a substantial contributor to the grinding machinery market. Growing sales of electric vehicles is also a driving factor in market growth.
The major distribution channels are online and offline modes. Online selling has seen a substantial growth owing to the shifting focus towards e-commerce in recent years.
Geographically, the global grinding machinery market contributors include North America, Europe, the Asia Pacific, and the Middle East & Africa. North America and Europe hold the highest market share because of the presence of large manufacturing and better availability of capital investment
The Asia Pacific is an emerging market in grinding machinery and is predicted to have a large contribution to the overall market share. Developing economies in the region like India and China drive the market demand due to increased industrialization and government initiatives like Make in India, which boost industrial growth.
The Middle East and Africa will also see more demand for grinding machinery due to the growing number of industries in the region.
Market leaders are focusing on developing technologically advanced grinding machines to meet the growing production demands. Other strategies adopted by key players include mergers & acquisitions, partnerships, and collaborations to get ahead of the competition.
For instance, Gleason introduced grinding machinery with smart technology like multi-sensor laser scanning, Power Skiving hard finishing gears, and automated bevel gear grinding.
The use of automated technology and robotics can increase productivity and improve the quality of manufacturing, thus reducing human error and improving efficiency.
Table Of Content:
1 Market Overview
2 Global Market Competition by Manufacturers
3 Global Capacity, Production, Revenue (Value) by Region (2013-2018)
4 Global Supply (Production), Consumption, Export, Import by Region (2013-2018)
5 Global Production, Revenue (Value), Price Trend by Type
6 Global Market Analysis by Application
7 Global Manufacturers Profiles/Analysis
8 Manufacturing Cost Analysis
9 Industrial Chain, Sourcing Strategy and Downstream Buyers
10 Marketing Strategy Analysis, Distributors/Traders
11 Market Effect Factors Analysis
12 Global Market Forecast (2018-2025)
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