Market Research Future (MRFR) has announced the release of a new report on the global grinding machinery market. The report presents a through outlook on the global grinding machinery market’s development through the historic review period along with a detailed analysis of the market’s present conditions, as well as providing readers with reliable projections regarding the market’s likely growth trajectory over the forecast period till 2023. According to the report, the global grinding machinery market is expected to rise at a CAGR of 4.2% over the forecast period.
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Grinding machinery is used for abrasive machining, i.e. cutting a material laterally by scraping away small percentages of the material’s surface. The cutting is performed via abrasive tools equipped with grit, which is an abrasive material and provides sharp cutting points along with wear resistance for the grinding equipment. The grinding equipment market has grown hand in hand with the growing industrialization around the world, with emerging countries in Asia Pacific likely to play a leading role in the growth of the global grinding equipment market over the forecast period due to the rapid growth of the industrial sector in these regions. Grinding machinery can be used in a diverse range of applications, as it can provide an accuracy in the range of fractions of millimeters as well as being competent in more gross applications.
The automotive industry has been a major consumer of grinding machinery in recent years and is likely to remain a major contributor to the global grinding machinery market over the forecast period due to the increasing demand for grinding in automotive applications requiring high amounts of precision. The growing demand for premium automobiles is likely to drive the demand from the grinding machinery market over the forecast period, as presenting a refined, smooth finish is indispensable in premium cars.
The global grinding machinery market is segmented on the basis of type, end user, and region.
By type, the global grinding machinery market is segmented into cylindrical, surface, gear, tool and cutter, and others.
By end use, the global grinding machinery market is segmented into general machinery, automotive machinery, precision machinery, and others.
The global grinding machinery market is segmented on the basis of geography into North America, Europe, Asia Pacific, and rest of the world.
Asia Pacific is likely to be the major regional segment of the global grinding machinery market over the forecast period due to the rapid growth of the industrial sector in China and other countries in Asia Pacific. Countries such as India are also emphasizing on the growth of the industrial sector as a key parameter of economic growth, with schemes such as Make in India being launched to make it more lucrative for global manufacturers and industries to set up facilities within India. These two countries are likely to remain at the forefront in the grinding machinery market in Asia Pacific over the forecast period, due to their high volume of demand and the high likelihood of a sustained increase in demand.
The growing automotive industry is also likely to be a major growth driver for the grinding machinery market in Asia Pacific over the forecast period. The automotive industry in Asia Pacific has climbed up several rungs in terms of sophistication over the last few decades, with countries such as India, Indonesia, Malaysia, and China doing their best to catch up with regional automotive giants Japan and South Korea as well as leading global giants such as the UK and Germany. This is likely to be a key driver for the grinding machinery market in Asia Pacific over the forecast period.
Europe is also likely to be a major regional segment of the global grinding machinery market over the forecast period due to the widespread industrial sector in the region and growing demand from the region’s strong automotive industry.
Leading players in the global grinding machinery market include Amada Machine Tools Co. Ltd., ANCA Pty. Ltd., Korber AG, Gleason Corporation, Makino Milling Machine Co. Ltd., JTEKT Corporation, Hybrid Manufacturing Technologies, Fives, Junker, and Danobat.
In January 2019, Danobat announced plans to release the Danobat LG grinding machine and other solutions oriented towards the challenges of industry 4.0 at Intec 2019.
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LIST OF TABLES
TABLE 1 GLOBAL GRINDING MACHINERY MARKET, BY TYPES
TABLE 2 GLOBAL GRINDING MACHINERY MARKET, BY END-USER
TABLE 3 GLOBAL GRINDING MACHINERY MARKET, BY REGION
TABLE 4 ASIA-PACIFIC GRINDING MACHINERY MARKET, BY TYPES
TABLE 5 ASIA-PACIFIC GRINDING MACHINERY MARKET, BY END-USER
LIST OF FIGURES
FIGURE 1 RESEARCH TYPE
FIGURE 2 GLOBAL GRINDING MACHINERY MARKET: BY TYPES
FIGURE 3 GLOBAL GRINDING MACHINERY MARKET: BY END-USER
FIGURE 4 GLOBAL GRINDING MACHINERY MARKET: BY REGION
FIGURE 5 ASIA-PACIFIC GRINDING MACHINERY MARKET, BY TYPES
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