NEW YORK, Nov. 25, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global grinding wheel market size is estimated to grow by USD 5.02 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of almost 4.36% during the forecast period. Constant demand from oil and gas industries is driving market growth, with a trend towards application of artificial intelligence and system integration. However, operational challenges poses a challenge.Key market players include 3M Co., Andre Abrasive Articles, ATLANTIC GmbH, AWUKO Abrasives Wandmacher GmbH & Co. KG, Camel Grinding Wheels Works Sarid Ltd., Compagnie de Saint Gobain, DEERFOS Co. Ltd., DK Holdings Ltd., DSA Products Ltd., Ekamant, KLINGSPOR Abrasives Inc., Koki Holdings Co Ltd, KOVAX, Murugappa Group, NORITAKE Co. Ltd., Robert Bosch GmbH, SHIN-EI Grinding Wheels MFG. Co. Ltd. , Thai GCI Resitop Co. Ltd., Tyrolit KG, and Wendt India Ltd..
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Grinding Wheel Market Scope |
|
Report Coverage |
Details |
Base year |
2023 |
Historic period |
2018 - 2022 |
Forecast period |
2024-2028 |
Growth momentum & CAGR |
Accelerate at a CAGR of 4.36% |
Market growth 2024-2028 |
USD 5017.1 million |
Market structure |
Fragmented |
YoY growth 2022-2023 (%) |
4.11 |
Regional analysis |
APAC, Europe, North America, Middle East and Africa, and South America |
Performing market contribution |
APAC at 49% |
Key countries |
China, US, Germany, UK, and India |
Key companies profiled |
3M Co., Andre Abrasive Articles, ATLANTIC GmbH, AWUKO Abrasives Wandmacher GmbH & Co. KG, Camel Grinding Wheels Works Sarid Ltd., Compagnie de Saint Gobain, DEERFOS Co. Ltd., DK Holdings Ltd., DSA Products Ltd., Ekamant, KLINGSPOR Abrasives Inc., Koki Holdings Co Ltd, KOVAX, Murugappa Group, NORITAKE Co. Ltd., Robert Bosch GmbH, SHIN-EI Grinding Wheels MFG. Co. Ltd. , Thai GCI Resitop Co. Ltd., Tyrolit KG, and Wendt India Ltd. |
Market Driver
The grinding wheel market is thriving, driven by the demand for abrasive tools in various industries. Bonded abrasive grains, including diamond, silicon carbide, and aluminum oxide, are popular choices for metalworking and woodworking applications. Innovations in materials, such as composite materials and artificial aggregates, offer improved wear resistance, accuracy, and surface finish. Precision machining and optimal surface quality are crucial for industries like transport, construction, bearing and machinery, and steel. Safety regulations are essential to prevent mishaps and damage during grinding, polishing, and abrasive cutting operations. Grinding machines, including cylindrical, cup, and disc wheels, are integral to manufacturing activities. Cleaning processes and sustainable manufacturing techniques are also trends in the market. Natural composite stones, such as millstones, and artificial composites are used for grinding and polishing. Solid steel and aluminum discs are popular choices for industrial applications.
Modern CNC grinding systems incorporate advanced software for controlling position, velocity, and acceleration. Artificial Intelligence (AI) technology enables machines to make decisions based on sensor input, automating repetitive tasks without human intervention. AI analyzes data from measurement equipment to optimize feed rates, prevent thermal damage, and initiate feed cycle changes. By continuously monitoring the grinding process, AI enhances productivity and precision while reducing operator intervention. This intelligent technology is a game-changer for the grinding wheel market, streamlining manufacturing processes and improving overall efficiency.
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Market Challenges
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Segment Overview
This grinding wheel market report extensively covers market segmentation by
1.1 Straight wheels- Straight grinding wheels are a fundamental type of abrasive wheels, commonly used for cylindrical, centerless, and surface grinding applications. These wheels come in various sizes, diameters, and widths, making them suitable for diverse grinding tasks. They are primarily employed to create a slight concave surface on the workpiece. The automotive, aerospace, and shipbuilding industries extensively use straight wheels due to their wide application in manufacturing components that undergo the grinding process. The growth of these industries is projected to boost the demand for straight grinding wheels worldwide.
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Research Analysis
The Grinding Wheel Market encompasses a wide range of abrasive tools used for various applications in industries such as metalworking and woodworking. These tools include cylindrical grinding wheels, cup wheels, and disc wheels, which are essential for grinding, polishing, and cleaning surfaces. The market is driven by the demand for efficient and high-performance abrasive tools in industries like transport, construction, bearing and machinery, and steel. Material innovations have led to the development of advanced abrasive compounds, bonded abrasive grains, and composite materials. Coarse-particle aggregates and cementing matrices are used to create strong bonds, ensuring the durability and effectiveness of the grinding wheels. Abrasive cutting and machining operations rely heavily on grinding machines, which utilize these wheels to shape and finish materials. The use of grinding wheels extends beyond industrial applications, with applications in the transport industry for vehicle maintenance and in the woodworking industry for sanding and shaping wood. Overall, the Grinding Wheel Market continues to evolve with advancements in technology and materials, providing solutions for a diverse range of industries and applications.
Market Research Overview
Grinding wheels are essential tools in various industries for grinding, polishing, and cleaning surfaces to achieve optimal surface quality. Made of bonded abrasive grains such as aluminum oxide, silicon carbide, and diamond, these wheels cater to diverse applications in the metalworking and woodworking industries. Material innovations continue to shape the market with the use of composite materials, artificial aggregates, and natural composite stones. The transport industry, construction, and steel industry heavily rely on grinding wheels for precision machining and wear resistance. Safety regulations are paramount to prevent mishaps and damage during grinding operations. Grinding machines, cylindrical, cup, and disc wheels, are used for different applications, including abrasive cutting and machining operations. Innovative materials and sustainable manufacturing techniques ensure accuracy, dimensional accuracy, and surface finish while reducing waste and improving efficiency. Abrasive compounds, coarse-particle aggregate, cementing matrix, and bond types further enhance the functionality and performance of grinding wheels.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory company. Their research and analysis focuses on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions.
With over 500 specialized analysts, Technavio's report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio's comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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Technavio Research
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Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio