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Grinding Machines Market By Control Type (Conventional Grinding Machine, CNC Grinding Machine), By Product Type (Surface Grinding Machine, Cylindrical Grinding Machine, Tool And Cutter Grinding Machine, Bench Grinding Machine, Belt Grinding Machine, Gear Grinding Machine, Jig Grinding Machine), By Application (Automotive Application, Aerospace And Defense, Electrical And Electronics Manufacturing, And Others) - Growth, Future Prospects And Competitive Analysis, 2015 - 2027

Market Insights

There are a large number of machines and tools used in various industrial processes. Grinding is one of the most important and critical processes that is performed in a wide range of industrial processes. Grinding machines are widely used in the finishing of various work pieces. Grinding machines are typically employed to provide accurate shapes and improve surface quality.

The global grinding machines market is expected to generate a huge revenue opportunity of USD 36,000 million during the forecast period from 2021 to 2027. The revenue generated by the grinding machines industry in 2020 was around USD 3,250 million, which is expected to reach over USD 6,500 million in 2027 by growing at a CAGR of over 9.65% during the forecast period.

Interesting Facts About Grinding Machines

  • In 2020, Automotive and Machine Tools & Parts had a combined market share of more than 50%.
  • One of the most significant challenges faced by the overall grinding machines market is the uncertain nature of the industrial manufacturing sector worldwide.
  • COVID-19 had a significant impact on demand and market size, which dropped by almost 15% in 2020.
  • CNC machines are gaining considerable traction and are expected to dominate the market by 2027.
  • The top three players, including 3M, Amada Machine Tools, and Okuma Corp., govern almost a quarter of the total global grinding machines market.

Consistent demand from the industrial manufacturing sector

Increasing industrial manufacturing activity across the world is mainly fueling the demand for grinding machines across the world. Significant growth in the industrial sector is pushing the demand for grinding machines. Strong yet steady growth in the automotive, machine parts & tools, and consumer goods industries is likely to keep the demand for grinding machines up.

Availability of a Wide Range of Grinding Machines

The availability of a wide range of grinding machines designed to cater to a range of applications is one of the major factors supporting market growth. Grinding is a vast process in the manufacturing sector. With the rise in the overall manufacturing sector worldwide, there has emerged an extensive demand for innovative designs of grinding machines. Subsequently, numerous grinding machines have been developed over time and are capable of serving specific applications. This significantly limits the scope of other alternative processes (for instance, hard turning).

Grinding machine manufacturers offer various types of grinding machines that are designed to cater to a variety of applications, including automotive, machine tools, consumer goods manufacturing, healthcare, and others. Manufacturers emphasize providing high-performance abrasive materials along with flexible machine configurations. In addition, grinding machine vendors ensure the availability of different grinding wheels along with lubricants and coolants, thereby improving the overall performance of these machines. This further enables strengthening grinding machines' penetration across different industry verticals.

Fluctuating industrial sectors may hamper the demand for grinding machines

One of the most significant challenges faced by the overall market for grinding machines is the uncertain nature of the industrial manufacturing sector worldwide. A downturn in the sector remarkably affects overall spending on new machine tools. The machine tool industry (including grinding machines) is extensively dependent upon industry verticals such as tool and part manufacturing, automotive, and others. Another major factor hampering the market's growth is the high cost of this equipment.

In addition to the high initial costs, these machines also require relatively frequent maintenance, adding to the end-users overall overhead. Despite the machine's importance in a variety of manufacturing sectors, its high initial and ongoing costs pose a threat to market growth. The industry is remarkably affected by the downturn in the overall manufacturing sector. Nevertheless, post-recession in 2008–09, the manufacturing sector worldwide has been witnessing positive signs of recovery. This is expected to strengthen the grinding machine market in the coming years.

The top three manufacturers control roughly one-quarter of the global grinding machine market.

3M, Amanda, and Okuma Corp. are the top three players, holding around 25% of the global grinding machine market. Other important players include Korber AG, ANCA Pty Ltd., Junker Group, DANOBAT Group, Toyoda Americas Corporation, Koyo Machine Industries Co., Ltd., etc. The aforementioned players collectively accounted for over 40% of the global market. In comparison, the rest of the industry is highly fragmented, with the presence of a large number of small and medium-sized manufacturers.

The Asia Pacific region will dominate the global grinding machine industry

Asia Pacific is the most influential region in the global grinding machines market, with over 40% of the total revenue generated by this industry. The dominance of Asia Pacific can be attributed to the presence of a strong end-user industry in the region. South Korea, Japan, India, and China are driving Asia Pacific growth through a string of industrial activities such as automotive, consumer goods, manufacturing, and shipbuilding. Europe is the second-largest regional market for grinding machines, supported by slow but consistent demand from the Big Five economies. Africa, the Middle East, and Latin America are also expected to witness growth in revenue by the end of 2020.

Frequently Asked Questions:

COVID 19 has very considerable impact on the growth of global grinding machines industry. Automotive, consumer goods and shipbuilding industry record drop in growth rate which in turn impact the demand for and growth rate of grinding machines industry

Asia Pacific is major production region with huger installed capacity in China and Taiwan. Similarly, South Korea, Japan and Southeast Asian economies dominate production of Grinding Machines

Fluctuating economic growth and slow growth in end-user industries is likely to arrest the growth of this industry during the forecast period

3M, Okuma, Amada, Korber AG, ANCA Pty Ltd, Junker Group, DANOBAT Group, Toyoda Americas Corporation, Koyo Machine Industries Co.,Ltd., etc. are some of the major players in global Grinding Machines market. However, the market is highly fragmented with large number of small and medium players operating and mostly located in Asia Pacific

CNC grinding machines are growing at a rapid pace and likely to dominate by the end of forecast period

 

 

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Published Date:  Sep 2021
Category:  Automation & Process Control
Report ID:   58299
Report Format:   PDF
Pages:   120
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