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 large number of machines tools are used in various industrial processes. Grinding is one of the important and most critical processes performed in wide ranging applications across broad spectrum of industrial processes. Grinding machines are widely used in finishing of various work pieces. Grinding machine are typically being employed to provide accurate shapes and improve surface quality. The global grinding machines market is expected to generate 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 of Grinding Machines

  • Automotive and Machine Tools & Parts held the largest market share of over 50% collectively in 2020
  • 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 dropped by almost 15% in 2020
  • CNC machines are gaining considerable traction and expected to dominate the demand by 2027
  • Tope three players including 3M, Amada Machine Tools and Okuma Corp. govern almost a quarter of total global grinding machines market

Consistent Demand from Industrial Manufacturing Sector

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

Availability of Wide Range of Grinding Machines

Availability of wide range of grinding machines designed to cater a range of applications is one of the major factors supporting the market growth. Grinding is a vast process in the manufacturing sector. With the rise in overall manufacturing sector worldwide, there has emerged an extensive demand for innovative designs of grinding machines. Subsequently, numerous grinding machines have been developed, over the period of time, 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 variety of applications including automotive, machine tools, consumer goods manufacturing, healthcare and others. Manufacturers emphasize on providing high performance abrasive materials along with flexible machine configuration. In addition, grinding machine vendors ensure the availability of different grinding wheels along with lubricants/coolants, thereby improving the overall performance of these machines. This further enables strengthening grinding machines penetration across different industry verticals.

Fluctuating Industrial Sector May Hamper the Demand for Grinding Machines

One of the most significant challenges faced by the overall grinding machines market is the uncertain nature of the industrial manufacturing sector worldwide. Downturn in the sector remarkably affect the overall spending on new machine tools. Machine tools industry (including grinding machines) is extensively dependent upon industry verticals such as tool & parts manufacturing, automotive and others. Another major factor hampering the market growth is the high costs of these equipment. In addition to the high initial costs, these machines also require relatively frequent maintenance adding up to the overall overheads of the end-user. Despite the machine being among the integral equipment across numerous manufacturing sectors, high initial and maintenance cost becomes a concern for market growth. The industry is remarkably affected in the phase of downturn in the overall manufacturing sector. Nevertheless, post-recession in 2008-09, manufacturing sector worldwide has been witnessing positive signs of recovery. This is expected to strengthen the grinding machines market in the coming years.

Top Three Manufacturers Govern Around a Quarter of the Global Grinding Machines Market

3M, Amada and Okuma Corp. are top three players holding around 25% share of the global grinding machines market. Other important players include, Korber AG, ANCA Pty Ltd, Junker Group, DANOBAT Group, Toyoda Americas Corporation, Koyo Machine Industries Co., Ltd., etc. Aforementioned players collectively accounted for over 40% share in the global market. While, rest of the industry is highly fragmented with the presence of large number of small and medium size manufacturers.

Asia Pacific To Command the Global Grinding Machines Industry

Asia Pacific is most influential region in global grinding machines market with over 40% share in the total revenue generated by this industry. Dominance of Asia Pacific can be attributed to the presence of strong end-user industry in the region. Growth of Asia Pacific is driven by string industrial activities such as automotive, consumer goods, manufacturing and shipbuilding in South Korea, Japan, India and China. While, backed by the slow but consistent demand from big five economies, Europe is second leading regional market for the grinding machines. Africa, Middle East and Latin America are also expected to witness growth in revenue by the end of 2020.

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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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
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Published Date:  Sep 2021
Category:  Automation & Process Control
Report ID:   58299
Report Format:   PDF
Pages:   120
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