Grinding Machine Market - By Type (Non-Precision Grinder, Precision Grinders), Application (Automotive, Aerospace & Defense, Medical, Construction, Industrial Manufacturing, Electrical & Electronics, Marine Industry), Distribution Channel & Forecast, 2023-2032

Industry Statistics

Grinding Machine Market size was valued at more than USD 5 billion in 2022 and will depict substantial growth at over 5% CAGR from 2023 to 2032, driven by the increasing product application in the automotive manufacturing sector.
 

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The expanding automotive industry is one of the major factors driving the market growth. According to the National Automobile Dealers Association (NADA), in America, new vehicle sales are expected to reach 14.6 million units in 2023, an increase of up to 6.6% from 2022. Rising vehicle sales will drive market expansion as grinding machines are widely utilized in the automotive sector for a variety of applications such as grinding crankshafts, camshafts, and gearbox components, among others. The growing need for high-precision components with increased surface quality and dimensional accuracy is expected to propel the demand for grinding machines in the automotive sector through 2032.
 

Volatility of machinery cost is negatively impacting the growth of the grinding machine market. However, this market restraint is expected to be overcome by the rising number of startups offering rental services for industrial equipment and growing efforts of industrial players to introduce grinding machines equipped with cutting-edge technologies.
 

Rising product demand for industrial manufacturing application

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By application, the grinding machine market revenue from industrial manufacturing segment will reach over USD 2 billion by the end of 2032, attributed to the growing necessity for precise machining of complicated components owing to the increased automation in production processes, and the prevalent need for the high-quality final products is raising the demand for grinding machines used in industrial machinery for the manufacturing sector. The increasing deployment of CNC-based grinding machines, which enable businesses to attain high levels of precision and efficiency in their manufacturing processes is likely to stimulate segment expansion through 2032.
 

High-precision tools gain significant traction

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Based on type, the grinding machine market from precision grinders segment will exhibit over 4.5% CAGR through 2032, attributed to the increasing need for high-precision tools and equipment across several industries, such as aerospace, automotive, and medical. Precision grinders are gaining traction in applications across industrial automation and robotics processes for higher efficiency and accuracy. Furthermore, the rising usage of precision grinders as an essential tool for producing components with high tolerances and a clean surface finish of materials, such as metals, ceramics, and plastics, will boost segment expansion.
 

Asia Pacific emerges as a prominent revenue pocket

Asia Pacific grinding machine market will grow at more than 5.5% CAGR over 2023- 2032 owing to the growing demand for grinding machines from different end-use sectors, including aerospace, automotive, and construction, across major APAC countries viz., China, India, and Japan. Furthermore, the increasing penetration of technologies, such as AI, 5G, and advanced automation, among others, has resulted in the proliferation of Industry 4.0 and automation, which is currently transforming industrial processes. Moreover, the widespread adoption of industrial automation to promote efficiency and optimization while lowering the possibility of human errors in manufacturing processes will strengthen the regional industry outlook through 2032.
 

Grinding machine market participants

Mitsubishi Heavy Industries Ltd., Falcon Machine Tools Co. Ltd, Junker Group, Amanda Tools Machine, ANCA, KTEKT Toyota Americas Corporation, DMG Mori, Makino, and DANOBAT Group, are some of the prominent firms operating in the grinding machine industry. These companies are focusing on product portfolio expansions to extend their consumer reach in the business.
 

Recent developments

• In August 2022, ANCA, a leading manufacturer of grinding machines, unveiled its premium, next-generation machine series designed to produce the highest accuracy and quality cutting tools - the MX7 ULTRA, which is a significant advancement in precision machine design and will shift industry standards for accuracy and tool life.
   
• In May 2022, Tschudin AG, a global technology leader in high precision cylindrical grinding, and the United Grinding Group, a leading manufacturer of precision grinding machines, formed a strategic partnership involving cross-ownership in order to provide their customers with more comprehensive support by offering complementary grinding solutions and utilizing shared sales networks.
   

Global Grinding Machine Market research report includes in-depth coverage of the industry with estimates & forecasts in terms of volume in Thousand Units and revenue in USD Million from 2018 to 2032 for the following segments:

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By Type

• Non-Precision Grinder
  • Bench Grinders
  • Portable Grinders
  • Pedestal Grinders
  • Flexible Grinders
• Precision Grinders
  • Cylindrical Grinding Machines
  • Surface Grinding Machines
  • Centre-less Grinding Machines
  • Tool and Cutter Grinder
  • Others

By Application

• Automotive
• Aerospace & Defense
• Medical
• Construction
• Industrial Manufacturing
• Electrical & Electronics
• Marine Industry
• Others

By Distribution Channel

• Online
• Offline

By Region

• North America
  • U.S.
  • Canada
• Europe
  • Germany
  • UK
  • France
  • Italy
  • Spain
  • Russia
• Asia Pacific
  • China
  • India
  • Japan
  • Indonesia
  • South Korea
  • Malaysia
• Latin America
  • Brazil
  • Mexico
• Middle East & Africa
  • Saudi Arabia
  • UAE