Increasing Focus on Industrial Automation Widening Application Scope of Grinding Machines: Fact.MR Report
Increasing Focus on Industrial Automation Widening Application Scope of Grinding Machines: Fact.MR Report
A recently updated research report by Fac.MR, a market research and competitive intelligence provider, reveals that revenue from the global Grinding Machine Market is projected to reach US$29.44 billion in 2034 and thereafter increase at a 5.8% CAGR from 2024 to 2034.
The growing popularity of industrial automation around the world is contributing to the rising demand for grinding machines for high-precision purposes. Surging requirements for high surface quality are resulting in increased penetration of grinding machines as popular finishing equipment across several industries, such as automotive, aerospace, and general machinery.
The rising need for high precision, time efficiency, enhanced productivity, and reduced operation cost is contributing to the increasing sales of CNC grinding machines. Increasing preference for cylindrical grinding machines is due to their use in manufacturing high-precision objects such as rods, tubes, bushes, and bearings. Constant technological advancements in grinding machines and software will create remunerative opportunities for market players going ahead.
Leading Players Driving Innovation in the Grinding Machine Market:
The Key Players in the Infant Grinding Machine Industry include Blastrac BV; Robert Bosch Power Tools GmbH; Amada Machine Tool Co., Ltd.; Toyoda; Mitsubishi Heavy Industries, Ltd.; Makita Corporation; Hitachi; Stanley Black & Decker, Inc.; Fein; Junker Group; Nidec Machine Tool Corporation; DMG Mori; Klindex; Scanmaskin; ANCA; Tschudin AG.
Grinding Machine Industry News & Trends:
In February 2024, Nidec Machine Tool Corporation declared that they had developed a high-accuracy grinding or polishing technique. This is employed in the large-scale production of internal machine gears, which are then used in car drive units and transmissions.
One of the leading companies in the world providing high-precision cylindrical grinding solutions is Tschudin AG. One of the leading producers of precision grinding machines, the United Grinding Group, partnered with the company in May 2022. By providing free grinding solutions through their combined sales networks, this alliance seeks to provide clients with more thorough assistance.
Key Takeaway from Grinding Machine Market Study:
The market for grinding machines is calculated to reach US$ 29.44 billion by the end of 2034. The automotive industry is approximated to hold 25.3% share of the global market by 2034.
Global sales of CNC grinding machines are evaluated to climb at a CAGR of 6.1% and reach US$ 9.57 billion by the end of 2034. East Asia is forecasted to account for a share of 33.6% of global market revenue by 2034-end.
Demand for grinding machines in South Korea is projected to accelerate at a 6.2% CAGR from 2024 to 2034. Sales of grinding machines in Japan are analyzed to rise at a CAGR of 5.5% through 2034.
“Companies in this business will do well to develop grinding machines with reduced pollution and less noise,”says Fact.MR analyst.
Increasing Utilization of Grinding Machines in Automotive Part Manufacturing
Global sales of grinding machines for application in the automotive industry are projected to rise at 5.9% CAGR and reach US$ 7.45 billion by the end of 2034. Increasing global demand as well as production of car parts across regions, particularly East Asia, is resulting in the rising utilization of these machines. Grinding machines are being widely used to manufacture automotive parts such as hydraulic steering pistons, brake cylinders, gear shafts, brake pistons, and splines for high-precision fitting.
Key Market Players:
Blastrac BV, Robert Bosch Power Tools GmbH, Amada Machine Tool Co., Ltd., Toyoda, Mitsubishi Heavy Industries, Ltd., Makita Corporation, Hitachi, Stanley Black & Decker, Inc., Fein, Junker Group, Nidec Machine Tool Corporation, DMG Mori, Klindex, Scanmaskin, ANCA, and Tschudin AG are some of the leading manufacturers of grinding machines.
More Valuable Insightson Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the grinding machine market, presenting historical demand data (2019 to 2023) and forecast statistics for the period (2024 to 2034).
The study divulges essential insights into the market based on product type (angle grinders [cordless angle grinders, corded angle grinders, pneumatic angle grinders], bench grinders, belt grinders, wet grinders, die grinders [electric die grinders, pneumatic die grinders], floor grinders [hand held, walk behind, ride on], surface grinders, CNC [CNC roll grinders, CNC crankshaft grinders, CNC plain cylindrical grinders, CNC surface grinders]), end-use industry (automotive, aerospace, maritime, construction, electrical & electronics, industrial manufacturing), and sales channel (franchises outlets, specialty stores, modern trade, online channels [manufacturers websites, third-party websites]), across seven major regions of the world (North America, Latin America, Western Europe, Eastern Europe, East Asia, South Asia & Pacific, and MEA).
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Industrial automation refers to the use of control systems such as computers or robots for handling different processes and machinery in an industry to replace human intervention.
CNC grinding machines are computer-controlled tools used for grinding and shaping materials with high precision, commonly used in manufacturing high-precision components.
The automotive industry encompasses all companies and activities involved in the design, development, manufacturing, marketing, and selling of motor vehicles.
Technological advancement refers to the discovery and development of new technologies that improve processes, products, and services, leading to increased efficiency and productivity.
Market research is the process of gathering, analyzing, and interpreting information about a market, including information about the target audience and competitors.
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