Grinding Machines Market Is Forecast To Expand At A Moderate CAGR Of 5.9% Over The Coming 10 Years

Industry Insights

As per a new report published by Fact.MR – a market research and competitive intelligence provider, the global grinding machine market is anticipated to exceed a valuation of US$ 25 Bn by 2031, expanding at an impressive CAGR of close to 6%.

The market was in a decline state registering annual growth of -1.5% during 2016 – 2020, mainly owing to the COVID-19 impact that shrank the market Y-o-Y growth to -18.2%. Fact.MR anticipates significant potential in the market, owing to factors such as increasing construction activities and growing demand for automobiles.

Grinding machines are used on massive scale in manufacturing industries for widespread applications. Computer numerical control (CNC) grinding machines are estimated to have the largest market share in value by the end of the forecast period. East Asia is set to become the fastest-growing market for grinding machines.

 For More Insights Into The Market, Request a Sample of this Report –https://www.factmr.com/connectus/sample?flag=S&rep_id=4383

Key Takeaways from Market Study

  • CNC is expected to remain the most attractive and likely to witness an absolute dollar opportunity of US$ 6.8 Bn during 2021 – 2031.
  • Based on end-use industry, industrial manufacturing is expected to witness US$ 6.4 Bn in value by 2031.
  • Based on product, floor grinders are forecasted to hold a little over 24% market share in value by 2031.
  • Together, North America and Europe represented over 51.5% of overall market share in 2020.
  • The market in East Asia is expected to expand at 6.9% CAGR from 2021 to 2031, and emerge as a market valued at US$ 5.9 Bn by 2031.

“CNC-based grinding machines have been the backbone of the industrial revolution, paving the way for optimistic growth over the coming years,” says a Fact.MR analyst.

Competitive Landscape

Majority companies discussed in the report have focused on expansion, investments, acquisitions, delivery focus, portfolio expansion, and brand development.

Some of the key developments are:

  • In February 2020, JTEKT Toyoda Americas Corporation and Ace Micromatic Group formed a strategic collaboration to offer high-speed production machines.
  • In June 2020, JTEKT Toyoda Americas Corporation launched new products with added attributes and manufacturing solutions in order gain dominance over the market.

Similarly, recent developments related to companies offering grinding machines have been tracked by the team at Fact.MR, which are available in the full report.

Market Segments Covered in Grinding Machines Industry Research

  • By 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
  • By End-use Industry

    • Use of Grinding Machines in Automotive
    • Use of Grinding Machines in Aerospace & Defense
    • Use of Grinding Machines in Construction
    • Grinding Machines for Machine Tools & Parts and Industrial Manufacturing
    • Application of Grinding Machines for Electrical & Electronics
    • Use of Grinding Machines in Maritime Industry
    • Others
  • By Sales Channel

    • Franchised Outlets
    • Specialty Stores
    • Modern Trade
    • Online Channels
      • Manufacturers Websites
      • Third party Websites

 

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