The global CNC tool and cutter grinding machine market is anticipated to reach USD 4,067.7 million by 2023, as per a new report by Market Research Future (MRFR). It is expected to exhibit a CAGR of 4.52% during the assessment period (2018-2023). The growth is supplemented by expansion of automotive and aerospace sectors inducing the demand for CNC machines to produce components in various sizes and shapes.
Computer numerical control (CNC) tool and cutter grinding machines are used for sharpening tool bits and other machines. These machines expedite the production rate by automating the entire process. These tools use computer-aided design (CAD) and computer-aided manufacturing (CAM) software to produce various components. Technological advances in CNC equipment can augur market growth over the forecast period.
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By type, the market has been segmented into tool and cutter grinding machine, universal grinding machine, and blank and cylindrical grinding machines. Based on application, the market has been segmented into electrical and electronics manufacturing, aerospace and defense, and automotive.
The segments and sub-segments covered in the report are analyzed under four major regions – North America, Europe, Asia Pacific, and Rest-of-the-World (RoW), with respective country-level market sizing. For the scope of research, the standard definition of the product/ service “CNC tool and cutter grinding machine” is included in the report. The report discusses and interprets the current and future opportunities of the industry delivering an unbiased growth assessment.
DANOBAT Group, ANCA Pty Ltd., Vollmer, Haas Automation, Inc., J Schneeberger Maschinen AG, and Makino Milling Machine Co., Ltd are prominent names in the CNC tool and cutter grinding machine market. Other noteworthy names include WIDMA Machine Tools, ISOG Technology GmbH, JTEKT Corp, Korber AG, Amada Machine Tools Co., Ltd., Rollomatic SA, Alfred H. Schütte GmbH & Co. KG, Gleason Corporation, Gebr. SAACKE GmbH & Co. KG, and JUNKER Group. Mergers and acquisitions, partnerships with vendors, and new products are strategies employed by players to gain a larger share of the market.
On the basis of regions, the global CNC tool and cutter grinding machine market has been segmented into North America, Europe, Asia Pacific (APAC), and Rest-of-the-World (RoW).
The APAC market accounted for 37.7% share in 2017. Presence of various industrial hubs coupled with a robust manufacturing sector across South Korea, China, and India can augur market growth in the coming years. The APAC market is estimated to showcase a 5.12% CAGR during the forecast period. China can contribute to market revenue owing to abundance of raw materials and low labor costs. Demand for consumer electronics and cars is predicted to facilitate market demand.
The Europe region is projected to expand at a phenomenal growth rate over the forecast period owing to rise in export and import trade activities. Presence of major automobile manufacturers such as Audi and BMW can influence market demand. Countries such as France, Germany, and Spain can augment market demand owing to presence of various manufacturers.
Market Research Future (MRFR) uses a combination of primary and secondary research to compile market reports. Primary data is accumulated from interviewing industry stalwarts and secondary research is collated by studying white papers and annual reports of leading players. Our analysts use top-down and bottom-up approaches to validate the findings of the report. The report consists of news, current trends, and future prospects related to the market, all of which can provide a thorough understanding of the market to clients. Industry leaders can make accurate business decisions based on our insights.
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Table of Contents
1 Executive Summary
2 Market Introduction
3 Research Methodology
4 Market Dynamics
5 Market Factor Analysis
6 Global CNC Tool & Cutter Grinding Machine Market, By Product Type
7 Global CNC Tool & Cutter Grinding Machine Market, By Application
8 Global CNC Tool & Cutter Grinding Machine Market, By Region
9 Competitive Landscape
10 Company Profile
12 List of Tables
13 List of Figures
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