The global grinding machinery market is estimated to expand at 4.2 % CAGR during the forecast period (2017-2023) owing to the increasing demand from the end-use industry, asserts Market Research Future (MRFR). Grinding machinery uses a grinding wheel as a cutting device required to make exact cuts in order to deliver fine wraps. Grinding machinery helps to increase the productivity, thereby reducing the manufacturing cost. Such machines are facing evolution over the years in order to cater to the changing needs of several industry verticals.
Drivers and Constraints Impacting the Market
With the increasing demand from the end-use industry coupled with the growth in the automotive industry, the global market is likely to boom. Companies are now focusing on evolving grinding machinery market by developing technologically advanced machines which comprise automated equipment and robotics which eliminates the scope of human error and impacts the overall quality of the product. This has led to the evolution of innovative machines which helps in manufacturing accurate and precise products at lower cost and less time. Such factors are considered to impact the market positively over the assessment period. Moreover, owing to the requirement for precise finishing across several applications, grinding machinery has found penetration across industry verticals.
On the flip side, the high cost associated with the installation of grinding machinery is likely to inhibit the market growth in the coming years.
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Global Grinding Machinery Market: Segmental Analysis
The global grinding machinery market has been segmented on the basis of type, end-user, and region.
By mode of type, the global market has been segmented into cylindrical machine, surface machine, gear machine, tool & cutter machine, and others.
By mode of end-user, the global market has been segmented into general machinery, automotive machinery, precision machinery, industrial machinery, and others. Among these, the industrial machinery segment accounts for the highest market growth.
The global grinding machinery market spans across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World.
Among all the regions, Asia Pacific is estimated to dominate the global market during the assessment period due to the presence of developing economies in this region. Rapid industrialization coupled with government initiatives such as Make in India is estimated to propel the market over the assessment period. Moreover, government investment in the manufacturing and industrial sector in countries such as India and Southeast Asian regions are estimated to foster the market growth in the coming years.
The European region is also presumed to witness moderate growth over the review period due to the sprawling industrial sector.
The North American region is anticipated to hold a prominent share in the global market owing to the rapid expansion of the industrial manufacturing industry across the world.
Gleason demonstrated smart innovations such as revolutionary multi-sensor metrology comprising laser scanning, hard finishing of gears by Power Skiving, and bevel gear grinding with integrated and fast automation in advanced gear manufacturing at Booth N-237000. They covered a wide array of processes for the complete inspection and production of all types of cylindrical and bevel gears. The new developments are accompanied by flexible solutions along with cutting tool technologies, such as the new bevel gear cutting system Pentac Mono and new dressing tools for honing and grinding applications.
The key players operating the global market are Fives (France), Hybrid Manufacturing Technologies (U.S.), Amada Machine Tools Co. Ltd (Japan), Gleason Corporation (U.S.), Makino Milling Machine Co. Ltd. (Japan), Körber AG (Germany), Junker (Germany), JTEKT Corporation (Japan), DANOBAT (Spain), ANCA Pty Ltd. (Australia), and others.
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