Grinding Machinery Market Share, competitor Strategy and Future Forecast to 2023
Posted by Monica Nerkar on January 17th, 2018
Global Grinding Machinery Market by Types (Cylindrical, Surface, Gear, Tool & Cutter and Others), End-User (General Machinery, Automotive Machinery, Precision Machinery, and Others) & by Region - Global Forecast to 2023
Market Synopsis of Global Grinding Machinery
Grinding Machinery is used for the common form of abrasive machining. The process involves material cutting which consists of an abrasive tool whose cutting elements are grains of abrasive material known as grit. These grits are characterized by sharp cutting points, high hot hardness, and wear resistance.
The growth of global grinding machinery market can majorly be attributed to growing global automotive industry and rising demand from end-use industries. Also, the growing number of innovation in grinding machines, is expected to boost the market growth. Several companies have continuously been focusing on evolving grinding machinery market by developing technologically advanced grinding machines. This has led to the introduction of advance machinery that helps in the manufacture of precise and accurate products in lesser time and at lower costs.
The Global Grinding Machinery Market is expected to grow at a CAGR of around 4.2% during the period.
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Regional Analysis of Global Grinding Machinery Market
Asia-Pacific is expected to dominate the global grinding machinery market during the forecast period. Developing economies are driving growth in the region. The rapid industrialization and rising government initiatives in the region such as Make in India, are expected to boost the growth of the market. Europe is also expected to register moderate growth during the forecast period, owing to factors such as sprawling industrial sector.
Amada Machine Tools Co. Ltd, (Japan), DANOBAT (Spain), ANCA Pty Ltd. (Australia), Junker (Germany), Körber AG (Germany), Fives (France), Gleason Corporation (U.S.), Hybrid Manufacturing Technologies (U.S.), Makino Milling Machine Co. Ltd. (Japan), and JTEKT Corporation (Japan) are some of the leading players operating in the global grinding machinery market.
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About the AuthorMonica Nerkar
Joined: November 14th, 2017
Articles Posted: 80
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