How large is the precision grinding wheels market, and what is its growth trajectory?
The precision grinding wheels market size has grown steadily in recent years. It will grow from $1.52 billion in 2024 to $1.58 billion in 2025 at a compound annual growth rate (CAGR) of 4.1%. The growth in the historic period can be attributed to rising demand for construction sector, increasing demand from oil and gas, increasing demand from automotive industry, rising investments from government on research and development, and rising demand from mining sector.
The precision grinding wheels market size is expected to see steady growth in the next few years. It will grow to $1.85 billion in 2029 at a compound annual growth rate (CAGR) of 4.0%. The growth in the forecast period can be attributed to rising investment for infrastructure development, rapid industrial growth, rising demand for high-precision components, rising demand from steel and bearing industry, and rising demand for hard materials. Major trends in the forecast period include advanced manufacturing techniques, technological advancements in grinding wheels, innovations in precision machinery and equipment, development of more high-performance abrasive grits and grains, and adopting more eco-friendly manufacturing processes.
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What are the key forces behind the precision grinding wheels market’s growth in recent years?
The expansion of the automotive industry is expected to propel the growth of the precision grinding wheels market going forward. The automotive industry refers to the industry that is involved in the development, production, marketing, and sale of motor vehicles, such as automobiles, trucks, motorcycles, and other vehicles. The expansion of the automotive industry is due to the growing need for advanced, high-performance vehicles that offer enhanced efficiency, safety, and environmental sustainability. Precision grinding wheels are widely used in the automotive industry to achieve high levels of accuracy, smooth surface finishes, and tight tolerances in manufacturing critical components. These wheels play a vital role in the production and finishing of various parts, ensuring vehicle reliability, performance, and safety. For instance, in May 2023, according to the European Automobile Manufacturers’ Association (ACEA), a Belgium-based central lobbying and standards group of the automobile industry in the European Union, around 85.4 million motor vehicles were produced worldwide in 2022, a 5.7% increase over 2021. Therefore, the expansion of the automotive industry is driving the growth of the precision grinding wheels market.
What are the major segments of the precision grinding wheels market?
The precision grinding wheelsmarket covered in this report is segmented –
1) By Type: Cylindrical External Grinding, Internal Grinding, Surface Grinding, Centerless Grinding
2) By Grain Size: Coarse, Medium, Fine, Very Fine
3) By Material Type: Aluminum Oxide, Silicon Carbide, Diamond, Cubic Boron Nitride (CBN)
4) By Application: Automotive Industry, Steel Industry, Bearing Industry, Other Applications
5) By End-User Industry: Metal Fabrication, Precision Machinery, Foundry, Woodworking
Subsegments:
1) By Hardware: Sensors, Monitoring Devices, Feeding Systems, Water Quality Management Systems, Cameras And Imaging Systems
2) By Software: Data Management Software, Analytics Software, Monitoring Software, Decision Support Systems, Aquaculture Management Software
3) By Service: Consulting Services, Installation Services, Maintenance And Support Services, Training And Education Services, Data Analysis Services
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Which companies dominate the precision grinding wheels market?
Major companies operating in the precision grinding wheels market are 3M Company, Tyrolit Schleifmittelwerke Ltd., Hoffmann Group, Klingspor Inc., Norton Abrasives Corporation, Carborundum Universal Limited, Grindwell Norton Ltd., Suhner Industrial Products Corporation, Walter Surface Technologies Inc., Röhm GmbH Sontheim, Fritz Studer AG, Buehler Ltd., August Rüggeberg GmbH & Co KG, Sterling Abrasives Limited, Wendt (India) Limited, Sak Abrasives Ltd., LACH DIAMANT Inc., Stella Group Ltd., Hindustan Abrasives Co., Friedrich August Picard Gmb
What major trends will shape the precision grinding wheels market during the forecast period?
Major companies operating in the precision grinding wheels market are focused on developing innovative abrasives equipped with anti-chipping technology to enhance durability, improve performance, and reduce material waste during grinding processes. Anti-chipping technology is a specialized innovation designed to prevent the formation of chips, cracks, or fractures on the surface of materials during cutting, grinding, or other abrasive processes, thereby improving the durability and quality of the final product. For instance, in June 2023, Weiler Abrasives Group, a US-based company, launched Tiger 2.0 zirconia alumina and aluminum oxide cutting, grinding, and combo wheels, abrasives featuring anti-chipping technology. The Tiger 2.0 wheels are engineered to last up to 40% longer than traditional wheels, significantly improving operational efficiency by reducing the frequency of wheel changes during cutting and grinding tasks. A patent-pending feature, the Optimum Use Line, provides a visual indicator that helps users determine the best angle and method for using the wheel, ensuring optimal performance and safety during operation.
What are the key regional dynamics of the precision grinding wheels market, and which region leads in market share?
Asia-Pacific was the largest region in the precision grinding wheels market in 2024. The regions covered in the precision grinding wheels market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
What Does The Precision Grinding Wheels Market Report 2025 Offer?
The precision grinding wheels market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
Precision grinding wheels are specialized abrasive tools used in industrial grinding processes to achieve high-accuracy surface finishes and tight tolerances on workpieces. These wheels comprise abrasive grains, bonding materials, and sometimes additives designed for precision applications such as shaping, sharpening, or finishing metal and other hard materials.
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