Grinding Machines Market Expects to Reach Us$ 26,324.2 Million

According to a report by Fact.MR, the global grinding machines market was valued at US$ 4.5 billion in 2020 and is expected to reach US$ 7.1 billion by 2031, with a CAGR of 4.8% during the forecast period (2021-2031). The market growth can be attributed to the increasing demand for grinding machines in the manufacturing industry, especially in the automotive and aerospace sectors.

The report suggests that the cylindrical grinding machines segment dominated the market in 2020 and is expected to continue to hold a significant market share during the forecast period due to the high demand for these machines in the automotive industry for grinding engine components. Regionally, Asia Pacific is expected to hold the largest market share due to the high demand for grinding machines in countries such as China, India, and Japan.

The report also highlights some of the key players operating in the global grinding machines market, including Amada Machine Tools Co., Ltd., ANCA Pty Ltd., DANOBATGROUP, Fives, Gleason Corporation, JTEKT Corporation, Makino Milling Machine Co., Ltd., Okuma Corporation, United Grinding North America, and Walter Maschinenbau GmbH. These companies are focusing on research and development activities to develop advanced grinding machines that can provide high precision, accuracy, and speed

Download Free Sample Copy of this Report – https://www.factmr.com/connectus/sample?flag=S&rep_id=4383