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The grinding machinery market size is forecast to increase by USD 1.61 billion at a CAGR of 5.7% between 2023 and 2028. The market is experiencing significant growth, driven primarily by the expansion of the global automotive industry, which relies heavily on precision grinding for manufacturing components. Another trend influencing the market is the integration of Industry 4.0 solutions, including automation, IoT, and data analytics, into grinding machines to enhance productivity and efficiency. However, the high costs associated with purchasing and maintaining these advanced machines pose a challenge for small and medium-sized enterprises. Despite this, the market is expected to continue growing due to the increasing demand for high-precision grinding applications in various industries, including aerospace, energy, and heavy machinery manufacturing.
The market is witnessing significant growth due to the expanding manufacturing sector and the increasing demand for precision-engineered components with tight tolerances, smooth surfaces, fine finishes, and high surface quality. Industrial automation is playing a pivotal role in driving market growth by increasing production capacity and improving the efficiency of manufacturing processes. The electronics sector and medical devices industry are major consumers of grinding machinery due to their requirement for small, intricate parts with precise dimensions and quality standards. Energy efficiency is another key factor driving the market, as grinding machinery manufacturers are focusing on developing energy-efficient solutions to reduce operational costs and minimize environmental impact.
Moreover, globalization and trade are also contributing to market growth, as international trade facilitates the exchange of goods and services across borders. The aerospace and defense, shipbuilding, and construction industries are significant end-users of grinding machinery, particularly for the production of cylindrical, surface, gear, tool & cutter, and wheel tool components. The use of diamond stones and other advanced grinding materials is also increasing to meet the demand for high-quality, precise parts in various industries. Overall, the market is expected to continue its growth trajectory in the coming years, driven by the increasing demand for precision parts and the need for smooth surfaces and fine finishes.
The market research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD billion" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The CNC grinding machine segment is estimated to witness significant growth during the forecast period. The market is witnessing significant growth due to the increasing capital expenditure in various industries seeking high-precision and efficient production processes. Grinding technology, fueled by specialized expertise and sophisticated software, is integrating digital technologies such as IoT, real-time monitoring, and data analytics to optimize performance and enhance overall equipment effectiveness. CNC grinding machines, a critical component of this market, deliver micron-level precision and fine surface finishes for machining applications, including heavy machinery manufacturing, aerospace, medical devices, and automotive industries. These machines offer automation through robotics, robotic grinding cells, automated loading, and robotic tool changers, enabling unmanned operation and increasing throughput.
Furthermore, the market's financial viability is further strengthened by the reduction in equipment downtime and improved reliability, leading to enhanced productivity and efficiency. CNC grinding machines cater to various industries and machining applications, including rough grinding operations and fine surface finishes for construction materials like concrete, stone, ceramics, and asphalt.
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The CNC grinding machine segment accounted for USD 3.63 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 41% to the growth of the global market during the forecast period. Technavio's analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in APAC is witnessing significant growth due to the increasing capital expenditure in the automotive and industrial sectors. With the region being the manufacturing hub of the world, the demand for specialized grinding technology is on the rise. South Korea, China, Japan, India, Taiwan, and Singapore are key contributors to the market growth. China, in particular, dominates the global scene, with its strong manufacturing industry driving the production and consumption of grinding machinery. Advancements in digital technologies, such as IoT, real-time monitoring, and data analytics, have led to increased efficiency, productivity, and reliability in grinding processes. The integration of sophisticated software and automation technologies, including robotics, robotic grinding cells, automated loading, and robotic tool changers, has significantly improved throughput and enabled unmanned operation.
Furthermore, the market caters to various machining applications, including rough grinding operations for heavy machinery manufacturing and fine surface finishes for construction materials like concrete, stone, ceramics, and asphalt. The focus on performance optimization and equipment uptime has led to the adoption of micron-level precision and overall equipment effectiveness in the industry. These factors contribute to the financial viability and return on investment for businesses investing in grinding machinery.
Our researchers analyzed the data with 2023 as the base year, along with the key drivers, trends, and challenges. A holistic analysis of drivers will help companies refine their marketing strategies to gain a competitive advantage.
Growth in global automotive industry is the key driver of the market. The market plays a crucial role in various industries, particularly in surface preparation and finishing operations for components in sectors like automotive, aerospace & defense, shipbuilding, and smart infrastructure development. In the automotive industry, grinding machines are indispensable for producing high-precision components, such as engine parts, transmission components, chassis elements, and brake components. With the increasing focus on fuel efficiency and weight reduction, advanced materials like lightweight alloys and composites are being used extensively. Precision grinding equipment is essential for machining these materials to achieve the desired dimensions and surface finish. Additionally, gear, cylindrical, tool & cutter, and wheel tool grinding machines are used in metalworking and fabrication processes to ensure durability and precision.
Furthermore, in the aerospace & defense sector, grinding machinery is used for manufacturing turbine blades and engine casings, while in shipbuilding, it is utilized for fabricating structural components. Online services and retail businesses also leverage grinding machinery for various applications.
Integration of Industry 4.0 solutions with grinding machines is the upcoming trend in the market. Grinding machinery plays a pivotal role in surface preparation and finishing operations for various industries, including automotive, aerospace & defense, shipbuilding, and manufacturing. Precision grinding equipment is utilized in the production of engine components such as engine parts, transmission components, and chassis elements, as well as turbine blades and engine casings. In addition, structural components in retail businesses and smart infrastructure development benefit from the durability and precision offered by grinding machinery. The integration of Industry 4.0 principles into grinding machinery is a significant trend, enhancing automation, process control, and predictive maintenance. Equipped with sensors and IoT technology, these machines enable real-time monitoring of key parameters like temperature, vibration, and wear.
Moreover, data analytics and artificial intelligence (AI) are employed to optimize grinding processes by analyzing historical data and making real-time adjustments to improve precision, quality, and efficiency. Predictive maintenance facilitated by data analysis and machine learning algorithms minimizes downtime and reduces the risk of unexpected breakdowns. Furthermore, tool & cutter grinding machines, cylindrical grinders, surface grinders, and gear grinders are essential in metalworking and fabrication processes, ensuring the production of high-quality components for diverse industries.
High costs associated with grinding machines is a key challenge affecting the market growth. Grinding machinery plays a crucial role in surface preparation and finishing operations for various industries such as automotive, aerospace & defense, shipbuilding, and smart infrastructure development. Components like engine parts, transmission components, chassis elements, turbine blades, engine casings, and structural components undergo precision grinding using cylindrical, gear, tool & cutter grinding equipment. Advanced grinding machinery can ensure improved durability and accuracy for these components. However, the upfront capital investment required for purchasing and installing these machines can be substantial, making it a significant financial commitment for retail businesses and online services. Additionally, ongoing operational costs, including tooling, maintenance, and energy consumption, contribute to the high cost of ownership.
Moreover, skilled labor is necessary for operating and maintaining these machines, leading to increased labor costs. The shortage of skilled labor can further complicate matters. Despite these challenges, businesses may feel compelled to invest in new and advanced grinding machinery to maintain competitiveness in their respective markets. Diamond stones and other advanced grinding materials are increasingly being used to enhance the efficiency and quality of grinding processes.
The market forecasting report includes the adoption lifecycle of the market, covering from the innovator's stage to the laggard's stage. It focuses on adoption rates in different regions based on penetration. Furthermore, the report also includes key purchase criteria and drivers of price sensitivity to help companies evaluate and develop their market growth analysis strategies.
Customer Landscape
Companies are implementing various strategies, such as strategic alliances, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the market.
Amada Co. Ltd. - The company offers grinding machinery such as GLS 150GL UP, DPG 150, and DV 1.
The market research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key market players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
The market is witnessing significant growth due to the increasing demand for Precision-engineered components in various industries. The growing manufacturing sector, particularly in the aerospace, electrical & electronics, and shipbuilding industries, is driving the market's growth. Industrial automation is playing a crucial role in the market's expansion, with machine automation and robotic automation becoming increasingly popular. Energy efficiency is another crucial factor influencing the market's growth. With the globalization and trade of goods and services, there is a rising demand for cost-effective items, leading to an increase in the adoption of locally manufactured grinding machinery. The electronics sector and medical devices industry are also significant contributors to the market's growth due to their need for high-precision parts with tight tolerances and smooth surfaces.
Furthermore, the adoption of advanced grinding machines with innovative features is increasing, leading to improved process performance, shorter cycle times, and higher-quality components. Sustainability is another key trend in the market, with an increasing focus on using eco-friendly manufacturing processes and materials. Cylindrical grinding machinery, surface grinding machinery, and gear grinding machinery are some of the most commonly used grinding machines in various industries. The market for Horizontal machining centers is also expected to grow significantly due to their ability to produce large, complex parts with high surface quality and fine finishes. The market is expected to continue growing, driven by the increasing demand for precision grinding techniques and the need for components that meet stringent quality standards.
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Market Scope |
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Report Coverage |
Details |
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Page number |
161 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 5.7% |
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Market growth 2024-2028 |
USD 1.61 billion |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
5.13 |
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Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
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Performing market contribution |
APAC at 41% |
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Key countries |
US, China, Japan, Germany, and Italy |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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Key companies profiled |
Amada Co. Ltd., ANCA Pty Ltd., DMG MORI Co. Ltd., Erwin Junker Maschinenfabrik GmbH, FALCON MACHINE TOOLS Co. Ltd., FIVES SAS, Hardinge Inc., JTEKT Machinery Americas Corp., Makino Inc., Mitsubishi Heavy Industries Ltd., MONDRAGON Corp., MTI Technology, Okuma Corp., Phillips Machine Tools India Pvt. Ltd., FFG European and American Holdings GmbH, Geo Kingsbury Machine Tools Ltd, KEHREN GmbH, Lecn Anhui Co., Ltd., Master Abrasives Ltd., and UNITED GRINDING North America, Inc. |
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Market dynamics |
Parent market analysis, market growth inducers and obstacles, market forecast, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, market condition analysis for the forecast period |
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Customization purview |
If our market report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Type
7 Market Segmentation by Application
8 Customer Landscape
9 Geographic Landscape
10 Drivers, Challenges, and Trends
11 Vendor Landscape
12 Vendor Analysis
13 Appendix
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