According to the latest market study released by Technavio, the global grinding wheel market is expected to grow at a CAGR of more than 5% during the forecast period.
According to Gaurav Mohindru, a lead analyst at Technavio for tools and components research, “Grinding wheels find application in almost every manufacturing industry. The key users of grinding wheels are automotive, aerospace, ship building, oil and gas, and semiconductor industries. The changing dynamics in these industries will impact the demand for grinding wheels globally. For instance, the increased defense sector budgets in the UK, the US, France, Japan, countries in the Middle East, and other developed nations is expected to boost the sales of grinding wheels.”
The market research analysis categorizes the global grinding wheel market into three major segments based on type. They are:
Global grinding wheel market by straight wheels
Straight wheels dominated the market, with a share of 31% in 2016, and this trend is expected to continue during the forecast period. Straight wheels are widely used for cylindrical, centerless, and surface grinding operations. Wheels of this form vary greatly in size, the diameter, and width of the face. These are the most common style of wheel and extensively used on bench or pedestal grinders. They are primarily used to produce a slightly concave surface on the part of the product.
These straight wheels are widely used in automotive, aerospace, and shipbuilding industries. Thus, the growth of these end-user industries during the forecast period will drive the demand for straight wheels.
Global grinding wheel market by cylindrical wheels
Cylindrical wheels generally have a long and wide surface, with no center mounting support. They can be very large and can measure up to 12" in width. They are mostly used in vertical or horizontal spindle grinders. Cylindrical wheels are used in producing flat surfaces.
“Cylindrical wheels are widely used in automotive, aerospace, construction, and ship building industries. Rapid urbanization, economic recovery and the increase in the need for advanced weaponry due to the rise in regional tensions are factors influencing the growth in end-user industries, which in turn is expected to boost the demand for grinding wheels,” says Gaurav.
Global grinding wheel market by diamond wheels
Diamond wheels are grinding wheels, with industrial diamonds bonded to the periphery. They are widely used in grinding extremely hard materials, such as carbide cutting tips, gemstones, and concrete. These diamond wheels are widely used in construction and semiconductor industries. Thus, the growth of these end-user industries during the forecast period will drive the demand for diamond wheels.
The grinding wheels market is expected to grow significantly in all three regions, i.e., APAC, EMEA, and the Americas. APAC held the maximum share of the market in 2016, and is expected to continue dominating the market during the forecast period.