Surface Grinding Machine Market Forecast Hit by Coronavirus Outbreak, Downside Risks Continue to Escalate

Surface Grinding Machine: Introduction

Surface grinding machine is a machine tool or power tool used for grinding. Surface grinding machines use an abrasive wheel as the cutting tool.

Key Drivers of the Global Surface Grinding Machine Market

Surface grinding machines have the ability to perform grinding operations on different types of materials, including steel, metallic, and non-metallic materials. This versatility increases the product usage in several end-use industries. This is one of major factors driving the demand for surface grinding machines.
Surface grinding machines can work with high degree of accuracy. High-quality surface grinding machines have the ability to grind with accuracy of 0.0001 inches.
Automatic surface grinding machine segment is expanding at a higher pace as a result of technological advancement in the grinding industry.
As a result of Covid-19, many end-use industries such as aerospace & defense, automotive, and electrical & electronics are seeing significant slowdown in 2020. Thus, sale of surface grinding machines is also decreasing significantly.

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Rising Demand from Aerospace and Defense Industry to Create New Market Opportunities

The global aerospace and defense industry is likely to expand at a high CAGR in the coming years. It has been observed that North America and Asia Pacific region have significant opportunities for the growth of the aerospace industry; this is projected to create significant opportunities in the surface grinding machine market.
Growing investment in the defense segment by developed and developing countries is also expected to boost sales of surface grinding machines.

Fluctuation in Raw Material Prices to Restrict Market Growth

The global metal price is changing every year. This factor is anticipated to restrict the growth of the surface grinding machine market in the coming years.

Asia Pacific the Dominant Market for Surface Grinding Machines

Asia Pacific was the fastest growing surface grinding machine market in 2018. Rising investment in several end-use industries coupled with increasing usage of glass in food and beverage industries in developing economies such as China and India is driving market growth. Large number of small and medium companies are starting new ventures in the surface grinding machine market. Rising foreign investment coupled with increasing demand from end-use industries is expected to propel the market growth in the region during the forecast period.
North America and Europe accounted for significant share of the surface grinding machine market, with major players operating their global market from these regions. The U.S. accounted for major market share in North America.

Key Players Operating in the Global Market

The global surface grinding machine market is slightly fragmented in nature. Key market participants are signing strategic partnerships and taking strategic merger and acquisition decisions to increase their global market reach. Companies are working on developing machinery with advanced technology which can decrease the entire processing time. A few of the key players operating in the global surface grinding machine market are listed below:

Amada Machine Tools Co. Ltd.
DANOBAT
ANCA Pty Ltd
Junker Group
Körber AG
Fives Group
Gleason Corporation
Hybrid Manufacturing Technologies
Makino Milling Machine Co. Ltd
JTEKT Corporation
Hardinge, INC.
HTC Sweden AB
Okuma Corporation

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Global Surface Grinding Machine Market: Research Scope

Global Surface Grinding Machine Market, by Product Type

Conventional
CNC

Global Surface Grinding Machine Market, by Autonomy Type

Automatic
Manual

Global Surface Grinding Machine Market, by Application

Aerospace & Defense
Automotive
Electrical & Electronics
Shipbuilding
Others

Global Surface Grinding Machine Market, by Distribution Channel

Online
Offline

The report on the global surface grinding machine market is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macroeconomic indicators, and governing factors, along with market attractiveness as per segments. The report also maps the qualitative impact of various factors on market segments and regions.

This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.

Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:

Customer Experience Maps
Insights and Tools based on data-driven research
Actionable Results to meet all the business priorities
Strategic Frameworks to boost the growth journey

The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.

The following regional segments are covered comprehensively:

North America
Asia Pacific
Europe
Latin America
The Middle East and Africa

The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.

Below is a snapshot of these quadrants.

1. Customer Experience Map

The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.

2. Insights and Tools

The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.

3. Actionable Results

The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.

4. Strategic Frameworks

The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.

The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:

1. What can be the best investment choices for venturing into new product and service lines?

2. What value propositions should businesses aim at while making new research and development funding?

3. Which regulations will be most helpful for stakeholders to boost their supply chain network?

4. Which regions might see the demand maturing in certain segments in near future?

5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?

6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?

7. Which government regulations might challenge the status of key regional markets?

8. How will the emerging political and economic scenario affect opportunities in key growth areas?

9. What are some of the value-grab opportunities in various segments?

10. What will be the barrier to entry for new players in the market?