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The Global Grinding Machinery Market size is estimated to grow by USD 1.61 billion at a Compound annual growth rate (CAGR) of 5.7% between 2023 and 2028. The Global Grinding Machinery Market is buoyed by various key drivers. With the automotive industry experiencing robust growth globally, there's a heightened demand for precision components, boosting the need for grinding machinery. Additionally, the expansion of manufacturing and industrialization further fuels market growth as industries seek efficient solutions for surface finishing. Moreover, the escalating demand for superior surface finish and aesthetics in components across various sectors propels the adoption of grinding machinery, highlighting its indispensable role in achieving desired product quality standards. This market research and growth report also includes key market drivers, trends, and challenges during the forecasted period.
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The CNC grinding machine segment is estimated to witness significant growth during the forecast period. There is a growing popularity for computer numerical control or CNC grinding machines in various industries due to their high level of precision, efficiency, and versatility. In addition, CNC machines can achieve extremely high levels of precision and accuracy, making them ideal for applications that require tight tolerances and fine surface finishes.
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The CNC grinding machine segment was the largest segment and was valued at USD 3.62 billion in 2018. Moreover, this is crucial in end-user industries, such as aerospace, medical devices, and automotive manufacturing. In addition, CNC machines are fully automated, enabling consistent and repeatable results. Furthermore, this minimizes the chances of human error, leading to more reliable and cost-effective production processes. In addition, CNC grinding machines are known for their high-speed operation and ability to work round-the-clock, which improves productivity and allows manufacturers to meet demanding production schedules. Hence, such factors are fuelling the growth of this segment which in turn drives the market growth during the forecast period.
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APAC is estimated to contribute 41% to the growth by 2028. Technavio’s analysts have elaborately explained the regional trends, drivers, and challenges that are expected to shape the market during the forecast period. One of the main manufacturing hubs of the world is APAC with almost every product being manufactured and exported worldwide for use and consumption. In addition, there is an increase in demand for machine tools, such as grinding machinery, is attributed to the growth in the automotive and industrial sectors in the region. Moreover, South Korea, China, Japan, India, Taiwan, and Singapore are the major contributors to the growth of the regional grinding machinery market. Furthermore, the growing demand from industries such as automotive, aerospace, and defense in APAC is positively impacting the market. For example, in 2021, APAC dominated the region-wise vehicle assembly industry, where the use of grinding machinery is widespread. Hence, such factors will drive the market growth in the region during the forecast period.
The market is witnessing significant growth attributed to the expanding manufacturing sector, fueled by advancements in technology and industrial automation, particularly in the aerospace and medical industries, where precision grinders and CNC-based grinding machines play a vital role in producing high-precision components like crankshafts, camshafts, and gearbox components, ensuring surface quality, dimensional accuracy, and tight tolerances to meet exact geometries and safety standards, thus enhancing safety and performance across modern industrial processes while promoting energy efficiency and globalization through additive manufacturing techniques. Our researchers studied the data for years, with 2023 as the base year and 2024 as the estimated year, and presented the key drivers, trends, and challenges for the market.
The primary driver of the market is the growth in the global automotive industry, with the automotive sector being a major end-user of grinding machines. As the automotive industry continues to expand and innovate, the need for precision and efficient machines for crucial applications like engine components, gearboxes, and brakes escalates. Precision components are paramount for ensuring the reliability, efficiency, and safety of vehicles.
Machines play a pivotal role in producing high-precision automotive parts such as crankshafts, camshafts, and gearbox components, maintaining stringent standards for surface quality and dimensional accuracy. Automakers, in their pursuit of improved fuel efficiency and reduced vehicular weight, are increasingly utilizing advanced materials like lightweight alloys and composites. This trend fuels the adoption of machines capable of processing these materials efficiently while preserving structural integrity and minimizing vehicle weight. These factors contribute to market growth, driven by advancements in technology and the demand for quality and precision across various industries, including aerospace, medical devices, and electronics, where tight tolerances, smooth surface finishes, and exact geometries are essential for safety, performance, and modern industrial processes. Additionally, the incorporation of automation features and additive manufacturing further enhances manufacturing efficiency and meets the evolving needs of the expanding manufacturing sector worldwide.
The integration of Industry 4.0 principles into grinding machines is a primary trend in the market. This comprises incorporating technologies such as the IoT, data analytics, and artificial intelligence to enhance automation, process control, and predictive maintenance. In addition, grinding machines equipped with sensors and IoT technology enable real-time monitoring of key parameters like temperature, vibration, and wear.
Moreover, this data is then used to adjust and control the process for optimal performance. In addition, Industry 4.0 solutions facilitate predictive maintenance, where data analysis and machine learning algorithms predict if and when a machine may require maintenance. Furthermore, this minimizes downtime and reduces the risk of unexpected breakdowns. Hence, such factors are positively impacting the market. Therefore, it is expected to drive market growth and trends during the forecast period.
The fluctuations in raw material prices are a major market challenge. The price volatility of raw materials, including steel and components, can have an impact on the overall cost of grinding machines. In addition, raw materials are a significant component in the overall cost of production of grinding machines. Furthermore, when the prices of these materials rise, it can increase the overall production cost, potentially leading to higher machine prices for end-users.
Moreover, fluctuations in raw material prices can lead to supply chain disruptions, as manufacturers may face challenges in securing a consistent and cost-effective supply of essential components. In addition, end-users of grinding machines, including manufacturers in the automotive, aerospace, and machinery industries, can be sensitive to such fluctuations in raw material prices. As a result, it can influence their decisions to invest in new equipment. Hence, such factors are hindering the grinding machinery market industry growth during the forecast period.
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.
We also have detailed analyses of the market’s competitive landscape and offer information on 20 market companies, including:
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.
Technavio's market analysis and report provides an in-depth analysis of the market and its players through combined qualitative and quantitative data. The analysis classifies companies into categories based on their business approaches, including pure-play, category-focused, industry-focused, and diversified. Companies are specially categorized into dominant, leading, strong, tentative, and weak, based on their quantitative data analysis.
The market is integral to various industries, including automotive, aerospace, medical, and electronics. With insights from the National Automobile Dealers Association (NADA), demand is influenced by trends in new vehicle sales, particularly for components like crankshafts, camshafts, and gearbox components. In the industrial manufacturing segment, precision is paramount, driving the need for high-precision components with exceptional surface quality and dimensional accuracy. The market thrives on advancements in technology, with CNC-based grinding machines and automation enhancing production processes to deliver high-quality final products. This market reflects the ongoing industrial automation trend, catering to diverse end-use industries through both online and offline distribution channels. The industry's focus on energy efficiency, sustainability, and precise machining underscores its importance in modern industrial processes.
The market is witnessing significant growth driven by the increasing demand for precision and efficiency across various industries, such as the Aerospace industry, Medical industry, and Manufacturing sector. With the rise of Automation in production processes and the adoption of advanced technologies like Computer numerical control (CNC) systems and Additive manufacturing, the market offers a wide range of grinding equipment catering to specific needs. The Precision grinders segment ensures Quality and precision in output, delivering Smooth surface finishes and Exact geometries required by industries like the Electronics industry and Aerospace & Defense industry. As the Manufacturing sector continues to expand, there is a growing emphasis on Safety and performance, driving the demand for Replacement and upgradation of grinding machines.
The market's reach extends to Emerging economies, facilitated by Online distribution channels and Multi-brand e-commerce websites. The grinding machine market is experiencing robust growth globally, spurred by factors such as Globalization and trade fostering the exchange of advanced technologies and equipment. Industries like the Medical Devices industry are increasingly adopting grinding machines equipped with Automation features to enhance efficiency and precision. The advent of 3D printing has revolutionized manufacturing processes, impacting segments such as Cylindrical, Surface, Gear, and Tool and Cutter grinding machines. These machines cater to diverse industries, including the Electrical & Electronics and Shipbuilding industry, where surface smoothness and precision are critical.
The market trends and analysis forecast market growth by revenue at global, regional & country levels and provides an analysis of the latest trends and growth opportunities from 2018 to 2028.
Grinding Machinery Market Scope |
|
Market Report Coverage |
Details |
Page number |
161 |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 5.7% |
Market Growth 2024-2028 |
USD 1.61 billion |
Market structure |
Fragmented |
YoY growth 2023-2024(%) |
5.13 |
Regional analysis |
APAC, Europe, North America, South America, and Middle East and Africa |
Performing market contribution |
APAC at 41% |
Key countries |
US, China, Japan, Germany, and Italy |
Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
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. |
Market dynamics |
Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and Market condition analysis for the forecast period. |
Customization purview |
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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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