Grinding Machines Global Market Report 2024

The global grinding machines market has grown strongly in recent years. It will grow from $5.43 billion in 2023 to $5.74 billion in 2024 at a compound annual growth rate (CAGR) of 5.7%. Historical growth can be attributed to ongoing innovation in manufacturing practices, the momentum of industrialization and subsequent manufacturing growth, increased demand for precision engineering, a shift towards automation, and the expanding range of materials used in manufacturing processes.

The global grinding machines market is expected to see strong growth in the next few years. It will grow to $7.17 billion in 2028 at a compound annual growth rate (CAGR) of 5.7%. The anticipated growth in the forecast period is driven by global industrial expansion, efforts towards enhancing safety and user experience, the implementation of predictive maintenance and remote monitoring systems, the adoption of digital manufacturing solutions, and increased usage of advanced materials in various industries. Major trends expected during this period encompass ongoing product innovations, advancements in technology, a strong focus on safety and ergonomics, the integration of remote monitoring and predictive maintenance practices, the digitalization of manufacturing processes, and an increased emphasis on customization and flexibility within industrial operations.

The expansion of the grinding machines market is anticipated, largely driven by the continual growth of the industrial manufacturing sector. These machines find extensive use in ensuring dimensional accuracy and refining surface finishes of mechanical parts used in industrial manufacturing. Notably, global manufacturing production surged by 9.4 percent in 2021, a notable rebound from the preceding year's 4.2 percent drop, as reported by the United Nations Industrial Development Organization in March 2022. This resurgence in manufacturing activities underpins the upward trajectory of the grinding machines market.

The rising demand within the construction sector is poised to fuel the growth of the grinding machines market. These machines are pivotal in cutting metal components like pipes, rebar, and steel plates, essential in various construction projects. Recent data from the United States Census Bureau revealed a substantial investment of $1.84 billion in construction in February 2023, marking a 5.9 percent increase from the same period in 2022. The substantial investments in both public and private construction underscore the significant role of grinding machines in meeting the sector's needs.

Technological advancements stand as a prominent trend shaping the grinding machines market landscape. Leading entities in this sector are channeling efforts towards innovative technological solutions to fortify their market stance. Grind Master, for instance, introduced a groundbreaking robotic grinding technology in October 2022, tailored for automatic fettling and precise grinding of complex material castings. This pioneering technology addresses the long-standing challenges associated with grinding large castings, marking a significant advancement in the industry.

Collaborations and strategic partnerships are becoming prevalent strategies among major players in the grinding machines market to bolster their market positions. UNITED GRINDING Group, a renowned Swiss-based manufacturer of grinding machines, forged a strategic partnership with Francis Klein, an Indian manufacturer of cutting-edge machine tools, in February 2022. The collaboration is aimed at leveraging each other's strengths, intensifying sales and service activities, and expanding market presence, particularly in the Indian market. This alliance signifies a proactive step towards amplifying their collective market impact and fostering stronger customer relationships.

In October 2021, Hardinge Inc., a prominent US-based manufacturer of machine tools, completed the acquisition of J.G WEISSER SÖHNE GmbH & Co. KG for an undisclosed amount. This strategic acquisition includes the acquisition of the location in St. Georgen, marking a pivotal advancement in Hardinge Inc.'s location strategy. The integration of J.G WEISSER SÖHNE GmbH & Co. KG aligns with Hardinge's aim to enhance its European presence significantly and bolster its ability to cater to customers within the region. J.G WEISSER SÖHNE GmbH & Co. KG is a Germany-based company operating in grinding machines.

Major companies operating in the grinding machines market report are Amada Holdings Co Ltd., 3M Company, JTEKT Toyoda Americas Corporation, Junker Group, L. Kellenberger & Co. AG, ANCA Pty Ltd., DANOBAT Group, Koyo Machinery Industry Co. Ltd., Okuma Corporation, Körber AG, Falcon Machine Tools Co. Ltd., United Grinding North America, Makino Milling Machine Co. Ltd., Chevalier Machinery Inc., ELB-SCHLIFF Werkzeugmaschinen GmbH, Glebar Company, Heinz Berger Maschinenfabrik GmbH & Co. KG, Komatsu Ltd., KNUTH Machine Tools SA, Studer, C. & E. Fein GmbH, Satisloh, Tacchella Elektra, Willis Machinery, Robert Bosch Power Tools GmbH, Makita Corporation, Stanley Black & Decker Inc., Husqvarna Group, Xingyi Stone Caring Tools Co. Ltd., and Hardinge Kellenberger.

Asia-Pacific was the largest region in the grinding machine market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the grinding machines market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the grinding machines market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The main types of grinding machines include conventional, CNC, cylindrical, surface, gear grinders, and others. Conventional machines are manually operated and lack CNC capabilities. These machines are typically employed in various industries such as automotive, maritime, aerospace, construction, industrial manufacturing, electrical, electronics, and others. Sales channels for these machines span franchised outlets, specialty stores, modern trade setups, and online channels.

This report provides grinding machines market statistics, including grinding machines industry global market size, regional shares, competitors with a grinding machines market share, detailed grinding machines market segments, market trends and opportunities, and any further data you may need to thrive in the grinding machines industry. This grinding machines market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The grinding machine market consists of sales of angle grinders, bench grinders, belt grinders, wet grinders, die grinders, floor grinders, surface grinders, CNC, and other types. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.


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