ID: MRFR/IA - E/4704-CR | June 2018 | Region: Global | 100 pages
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.
Emergence of Internet of Things (IoT) and continuous evolution of machine learning are factors estimated to drive market demand. Subsequent use of CNC tools to produce components on a large scale is expected to play a major role in the market. In addition, adoption of automation to streamline assembly lines coupled with establishment of various industrial hubs are anticipated to bolster market demand in the coming years.
Vollmer, Makino Milling Machine Co., Ltd., J Schneeberger Maschinen AG, Haas Automation, Inc., ANCA Pty Ltd., and DANOBAT Group are some of the noteworthy players in the CNC tool and cutter grinding machine market. Other prominent players include ISOG Technology GmbH, JTEKT Corp, Korber AG, Amada Machine Tools Co., Ltd., Gebr. SAACKE GmbH & Co. KG, WIDMA Machine Tools, Rollomatic SA, Alfred H. Schütte GmbH & Co. KG, Gleason Corporation, and JUNKER Group.
The report offers comprehensive profiles on prominent market players and assesses their current standing in the market. Company history coupled with annual turnover, segmental share, SWOT analysis, growth strategies, new product launches, M&A activities, and latest R&D initiatives are outlined in the report.
This report allows the user to gain a deeper understanding of the ongoing events and trends in the global market for virtual reality. By correlating the historical data with key market dynamics, analysts were able to make highly accurate projections in the report. MRFR’s report includes a thorough segmental analysis of the global CNC tool and cutter grinding machine market segmented by type, application, and region with astute insights. This report has been prepared to assist industry participants in making informed decisions on growth strategies and operation management. Users will also come across drivers, trends, opportunities, and restraints which are likely to influence the growth of the market during the assessment period.
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.
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.
For the scope of the research, the report offers a comprehensive analysis of the global CNC Tool Cutter Grinding Machine Market
|Market Size||2023: USD 4,067.7 million|
|CAGR||4.52% CAGR (2020-2027)|
|Forecast Units||Value (USD Million)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Type, Application|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Vollmer, Makino Milling Machine Co., Ltd., J Schneeberger Maschinen AG, Haas Automation, Inc., ANCA Pty Ltd., and DANOBAT Group are some of the noteworthy players in the CNC tool and cutter grinding machine market. Other prominent players include ISOG Technology GmbH, JTEKT Corp, Korber AG, Amada Machine Tools Co., Ltd., Gebr. SAACKE GmbH & Co. KG, WIDMA Machine Tools, Rollomatic SA, Alfred H. Schütte GmbH & Co. KG, Gleason Corporation, and JUNKER Group|
|Key Market Opportunities||Scope In Emerging Economies|
|Key Market Drivers||
Frequently Asked Questions (FAQ) :
The global CNC tool and cutter grinding machine market is expected to record a substantial market valuation of USD 4.067 billion by 2023.
The global CNC tool and cutter grinding machine market is projected to register a moderate 4.52% CAGR in the forecast period.
Rising demand for efficient and fast manufacture of the component and increasing adoption in automotive and aerospace is driving the growth of the market.
the high cost of CNC machines is likely to hamper the growth of the CNC tool and cutter grinding machine market over the review period.
The blank and cylindrical segment is slated to expand as the fastest-growing segment.
The automotive segment is slated to expand as the fastest-growing segment.
A few major market players operating in the global CNC tool and cutter grinding machine market are Rollomatic SA, Gleason Corporation, Alfred H. Schütte GmbH & Co. KG, among others.
Global CNC Tool & Cutter Grinding Machine Market: Report Summary
The global CNC tool and cutter grinding machine market is anticipated to reach USD 4,067.7 million by 2023, expanding at a 4.52% CAGR during the assessment period (2018-2023). Scaling of automotive and aerospace sectors globally are expected to drive market growth over the forecast period. Demand for efficient and rapid production of components and parts in assembly lines is projected to augur market growth.
Tool and cutter grinding machines are used in sharpening tool bits and milling cutters. The advent of automation in various production and assembly lines is expected to increase the adoption of these machines. Technological developments in computer-aided design (CAD) and computer-aided manufacture (CAM) software are expected to influence the implementation of these machines. But high costs of CNC machines can pose a challenge to market growth. But nations with strong economic rates such as Indonesia, Brazil, India, and China aided by rapid industrialization can offer opportunities for expansion to the market.
The CNC tool cutter grinding machine market has been segmented based on type, application, and region. By type, the market is segmented into blank and cylindrical grinding machine, tool and cutter grinding machine, and universal grinding machine. The blank and cylindrical grinding machine segment is expected to exhibit a stellar growth rate owing to its capability to produce components in various shapes and sizes. It can induce demand in aerospace and automotive sectors. This machine is particularly used in manufacturing rods, bearings, bushings, etc. The universal grinding machine segment can purportedly grow remarkably owing to its utilization in other grinding applications.
On the basis of application, the market has been segmented into aerospace and defense, automotive, electrical and electronics manufacturing. The automotive segment is estimated to expand at a phenomenal growth rate during the forecast period due to rapid demand for cars globally. CNC tool and cutter grinding machines are used to expedite the production rate of cars by producing components in precise shapes. The aerospace and defense application segment is expected to contribute to the market due to declining crude oil prices and stable gross domestic product growth of various nations. Expansion of fleets by prominent airlines coupled with expanded defense budgets of countries such as the U.S. and China can spur segment growth in the coming years.
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.
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.
Global CNC Tool & Cutter Grinding Machine Market: Competitive Landscape
Haas Automation, Inc., ANCA Pty Ltd., DANOBAT Group, Makino Milling Machine Co., Ltd., J Schneeberger Maschinen AG, and Vollmer collectively accounted for more than 30% of the market share of the global CNC tool & cutter grinding machine market in 2017. These companies continue to retain their strong global presence through product development and expansion.
Haas Automation, Inc., is a pioneering machine tool building leader in the U.S., manufacturing a complete range of CNC (computer numerical control) vertical machining centres, horizontal machining centres, CNC lathes, and rotary products. To ensure accuracy, Haas manufactures all critical components in-house through utilization of dedicated state-of-the-art CNC machine tools. The company's 1-million-square-foot facility makes extensive use of modern lean manufacturing techniques and just-in-time production practices to rationalize production competences and diminish costs. This, combined with a highly trained workforce for assembling electronics allows Haas to control quality, cost, reliability, and availability.
DANOBAT Group has set a benchmark in machines, solutions, and advanced services in the machine tools industry by providing products and services at competitive prices. Services offered by the company include development, manufacture, and sales of machine tools and turnkey solutions. DANOBAT offers a wide range of products which include tools for grinding, milling and boring, turning, metal forming, saws, composites, and other products. The company has advanced solutions for metal cutting tools and grinder machines. It is a subsidiary of Mondrogan Corporation. DANOBAT Group has its presence in more than 30 countries in regions including North America, Europe, Africa, and Asia Pacific.
Makino Milling Machine Co., Ltd. is a leading company in the segment of milling machines and machining centres. The company has a wide portfolio of business such as manufacture, sales, and export of products relevant to machine tools industry. Makino offers products in broad segments including machining centers, NC electrical discharge machines, NC milling machines, milling machines, CAD/CAM systems, and others. The company has state of the art machine tools and machining technology, which are used in many industries. The end-use industries entail transportation, automobiles, and aircraft. Makino has presence in North America, Asia Pacific, and Europe.
J Schneeberger Maschinen AG is pioneering in the cutting tools industry. The company has its business in the manufacture of metal cutting machines and service related to their products. Schneeberger offers a wide range of products that include tool and cutting grinder, production grinding, machines, software, and accessories. The company has an experience of more than 90 years in the metal cutter and grinding industry, which enables it to distinguish itself from other competitors. Some of the subsidiaries of Schneeberger are J. Schneeberger Service SARL, J. Schneeberger Service Italia srl, J. Schneeberger Maschinen GmbH, J. Schneeberger Corp., and J. SCHNEEBERGER (Nanajing) Co. Ltd. The company has presence in North America, Asia Pacific, Europe, and Africa.
Vollmer is a leader in the cutting tools industry. The company offers a wide range of products in metal sharpening and tools handling. Vollmer produces, sells, and serves through after-sales maintenance of band saws, circular saws, and rotary tools. Vollmer holds experience of more than 100 years and is a prominent player in the area of sharpening and erosion machines. The company sustains in the market through its expertise in sawmills, tool manufacture, and sharpening services. The company has 14 subsidiaries and 30 agents and production sites in Morlenbach, Germany, and Taicang, China. Vollmer has subsidiaries in regions such as North America, Europe, Asia Pacific, and Latin America.
The global CNC tool & cutter grinding machine market is characterized by the presence of many global, regional, and local players. The market is extremely competitive with all major players incorporating various strategies to improve their market share. Strong competition and technological advancement are key factors that confront market growth. The dealers primarily compete on the basis of cost, product quality, reliability, and aftermarket service. It is crucial for the vendors to provide cost-efficient and high-quality CNC tool & cutter grinding machines, in order to survive and succeed in an intensely competitive market environment. Extensive growth in CNC tool & cutter grinding machine market has brought to the need for new product development on a large scale to stay relevant in the market. This is a key strategy adopted extensively by the players with a 56.0% share, to increase the number of offerings to the customer around the globe. Expansion is also a major strategy adopted by the major players in the global CNC tool & cutter grinding machine market with a share of 25.0% to spread their geographical presence and improve operational efficiencies.