Global Grinding Machine Market is poised to witness exponential growth from 2023 to 2032, owing to the increased application of grinding machines in the aerospace sector.
Grinding machines are often used to accurately shape and finish materials with minimal surface roughness and good texture. It is a crucial instrument mostly used in the finishing process to remove tiny amounts of metal to create goods with extreme precision. However, many grinding applications require prompt elimination of large amounts of metal.
The aerospace and defense industries have experienced consistent expansion, which has benefited the grinding machine business due to the increased need for precision tools and equipment. The widespread usage of grinding machines for a variety of applications, including the production of turbine blades, engine components, and key aircraft structures will support market growth.
The grinding machine market is divided based on type, application, distribution channel, and region.
The surface grinding machine market is set to witness more than 4.5% CAGR from 2023 to 2032, owing to the high demand for precision metalworking tools and equipment. Surface grinding machines are flexible equipment for grinding and polishing flat surfaces made of various materials such as metals, plastics, and ceramics, making them a relevant tool in the metalworking and machining sectors. The need for high-precision tools, the trend of factory automation, and the advent of novel materials necessitating specialized grinding processes will drive segment growth.
The grinding machine market from the automotive application segment accounted for a significant revenue share in 2022 and is slated to grow steadily attributed to the rising use of precision tools in the automotive sector to shape and fabricate car parts. Furthermore, grinding machines are widely employed in the automotive sector for a variety of applications such as surface grinding, cylindrical grinding, and internal grinding. The increasing application scope of these machines in the automotive sector will favor segment growth through 2032.
As per the distribution channel, the grinding machine market from the online distribution channel is poised to register significant gains due to the rising preference for online shopping. The COVID-19 pandemic further accelerated the shift to online platforms as customers avoided visiting physical businesses. The online sales channels provide quick product comparison and access to a diverse range of products at appealing discounts and offers, which may translate into increased market revenue.
Regionally, the Europe grinding machine market size is estimated to reach over USD 2.5 billion by the end of 2032. This regional growth can be credited to the increasing demand for industrial manufacturing activities, particularly in the automotive and aerospace industries. Moreover, the presence of leading automobile makers and major manufacturing hubs across major countries such as Germany, Italy, and France will further augment market growth.