LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global grinding machinery market to grow at a CAGR of almost 5% during the forecast period.
The application of artificial intelligence and system integration is one of the major trends being witnessed in the global grinding machinery market 2018-2022. AI can help in controlling the grinding process by reacting to sensors within the grinding machinery and measurement equipment. AI analyzes and translates data from measurements such as increasing or reducing the feed-rate to avoid thermal damage, to initiate a change point in a feed cycle, or to raise an alarm call for operator intervention.
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According to Technavio analysts, one of the key factors contributing to the growth of the global grinding machinery market is the large-scale industrial automation:
Global grinding machinery market: Large-scale industrial automation
One of the key advantages of process automation is increased productivity. This helps in increasing profits and assists businesses to focus on loss control and resource regulation. The companies, which adopt and incorporate automation in the fabrication of products gain a competitive advantage as they can increase productivity and reduce labor costs.
According to a senior analyst at Technavio for research on tools and components, “Automated equipment and robotics can assist in manufacturing consistent final products. They eliminate the scope of human error and hence, impact the overall quality of production. Thus, the incorporation of automation technology, particularly computer numerical control and programmable logic control machines is expected to drive the global grinding machinery market during the forecast period.”
Global grinding machinery market: Segmentation analysis
The global grinding machinery market research report provides market segmentation by end-user (industrial machinery, automotive, and precision machinery) and by region (the Americas, APAC, and EMEA). It provides an in-depth analysis of the prominent factors influencing the market, including drivers, opportunities, trends, and industry-specific challenges.
Of the three major end-users, the industrial machinery segment held the largest market share in 2017, contributing to almost 30% of the market. This end-user segment will dominate the global market throughout the forecast period.
APAC held the largest share of the market in 2017, accounting for more than 38% share. It was followed by EMEA and the Americas respectively. APAC is expected to dominate the market throughout the period 2018-2022.
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Market Sizing
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Five Forces Analysis
Market Segmentation
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Vendor Landscape
- Vendors covered
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