Global Grinding Machines Market Report 2023: Forecast Market Size, Annual Growth Rate And Key Industry Drivers
18 May, 2023
The global grinding machines market is expected to grow from $5.14 billion in 2022 to $5.47 billion in 2023 at a compound annual growth rate (CAGR) of 6.3%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, a surge in commodity prices, and supply chain disruptions, causing inflation across goods and services and affecting many markets across the globe. The grinding machines market is expected to grow to $6.6 billion in 2027 at a CAGR of 5.0%.
Global Grinding Machines Market Key Driver
The expanding industrial manufacturing sector is expected to drive the growth of the grinding machines market in the coming years. Industrial manufacturing is responsible for the creation of products for industrial use from raw materials. Grinding machines are widely used in industrial manufacturing for dimensional accuracy and surface finishing of mechanical parts. For instance, in March 2022, according to United Nations Industrial Development Organization, an Austria-based specialized agency of the United Nations, Global manufacturing production increased by 9.4 percent in 2021, after a drop of 4.2 percent in 2020. Therefore, the continually growing industrial manufacturing sector is driving the growth of the grinding machines market.
Get a sample of the global grinding machines market reportGlobal Grinding Machines Market Segments
The global grinding machines market 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
4) By Geography: The regions covered in the grinding machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, and Africa. Among these regions, Asia-Pacific accounts for the largest share in the global grinding machines market.
Major Grinding Machines Industry Players
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, Korber AG, Falcon Machine Tools Co Ltd., United Grinding North America, Makino, Chevalier Machinery Inc., ELB-SCHLIFF Werkzeugmaschinen GmbH, Glebar, Heinz Berger Maschinenfabrik GmbH & Co. KG, and Komatsu Ltd.
Get the full global grinding machines industry report
Grinding Machines Market Overview
A grinding machine is a tool that cuts with an abrasive wheel. These are used to grind workpieces and shape the dimensions of a workpiece for utility and industrial purposes.
Grinding Machines Global Market Report 2023 provides data on the global grinding machines market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The grinding machines market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.