News

Jun 23, 2023

Grinding wheel market growth to increase at a CAGR of 5.24% between 2022 and 2027; Driven by rising demand from the oil and gas industry

NEW YORK, Feb. 27, 2023 /PRNewswire/ -- The grinding wheel market size is projected to increase by USD 5877.71 million between 2022 and 2027, accelerating at a CAGR of 5.24% during the forecast

NEW YORK, Feb. 27, 2023 /PRNewswire/ -- The grinding wheel market size is projected to increase by USD 5877.71 million between 2022 and 2027, accelerating at a CAGR of 5.24% during the forecast period. The growth of the market is driven by the increasing demand for grinding wheels from the oil and gas industry. Grinding wheels find numerous applications in the oil and industry. They are extensively used in the manufacture, maintenance, and repair of upstream, midstream, and downstream applications. With the recovery of crude oil prices, upstream activities have increased worldwide. This is resulting in an increase in the number of active rig counts. As a result of these factors, the market growth will gain momentum during the forecast period. Gain more insights into the market size, historic & forecast 2017 to 2021, 2022 to 2027 Download a Sample Report

Grinding Wheel Market - Vendor Offerings:

3M Co. - The company offers grinding wheels under brand names 3M Cubitron, Scotch Brite, and 3M Silver in different types and diameters.

Andre Abrasive Articles - The company offers grinding wheels named Reinforced cutting off wheels and Reinforced grinding wheels.

ATLANTIC GmbH - The company offers grinding wheels with a vitrified bond for normal speeds of up to 40 ms and maximum working speeds of 50 ms, 63 ms, 80 ms, 100 ms, and 125 ms.

AWUKO Abrasives Wandmacher GmbH & Co. KG - The company offers grinding wheels named as Paper discs, Cloth discs, Fiber discs, Flap discs, Surface conditioning discs, Foam discs, and Net discs.

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Grinding Wheel Market Type Outlook (Revenue, USD Million, 2022-2027)

Straight wheels - size and forecast 2022-2027

Cylindrical wheels - size and forecast 2022-2027

Diamond wheels - size and forecast 2022-2027

Others - size and forecast 2022-2027

The market growth will be significant in the straight wheels segment during the forecast period. The segment is driven by the increasing use of straight grinding wheels in cylindrical, centerless, and surface grinding operations. The segment is also driven by the growth of end-user industries such as automotive, aerospace, and shipbuilding.

Grinding Wheel Market Geography Outlook (Revenue, USD Million, 2022-2027)

APAC - size and forecast 2022-2027

Europe - size and forecast 2022-2027

North America - size and forecast 2022-2027

Middle East and Africa - size and forecast 2022-2027

South America - size and forecast 2022-2027

APAC will account for 53% of the market growth during the forecast period. Factors such as rowing industrial and economic development and the increasing demand from industries such as automotive, aerospace, and defense are driving the growth of the grinding wheel market in APAC.

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Grinding Wheel Market Scope

Report Coverage

Details

Page number

160

Base year

2022

Historic period

2017-2021

Forecast period

2023-2027

Growth momentum & CAGR

Accelerate at a CAGR of 5.24%

Market growth 2023-2027

USD 5877.71 million

Market structure

Fragmented

YoY growth 2022-2023 (%)

4.28

Regional analysis

APAC, Europe, North America, Middle East and Africa, and South America

Performing market contribution

APAC at 53%

Key countries

US, China, India, Germany, and UK

Competitive landscape

Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks

Key companies profiled

3M Co., Andre Abrasive Articles, ATLANTIC GmbH, AWUKO Abrasives Wandmacher GmbH & Co. KG, Camel Grinding Wheels Works Sarid Ltd., Carborundum Universal Ltd., Compagnie de Saint Gobain SA, DEERFOS Co. Ltd., DK Holdings Ltd., DSA Products Ltd., Ekamant, KLINGSPOR Abrasives Inc., Koki Holdings Co Ltd, KOVAX, NORITAKE Co. Ltd., Robert Bosch GmbH, SHIN-EI Grinding Wheels MFG. Co. Ltd., Thai GCI Resitop Co. Ltd., Tyrolit KG, and Wendt (India) Ltd.

Market dynamics

Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period.

Customization purview

If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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Table of contents:

1 Executive Summary

1.1 Market overview

2 Market Landscape

2.1 Market ecosystem

3 Market Sizing

3.1 Market definition

3.2 Market segment analysis

3.3 Market size 2022

3.4 Market outlook: Forecast for 2022-2027

4 Historic Market Size

4.1 Global grinding wheel market 2017 - 2021

4.2 Type Segment Analysis 2017 - 2021

4.3 Material Segment Analysis 2017 - 2021

4.4 Geography Segment Analysis 2017 - 2021

4.5 Country Segment Analysis 2017 - 2021

5 Five Forces Analysis

5.1 Five forces summary

5.2 Bargaining power of buyers

5.3 Bargaining power of suppliers

5.4 Threat of new entrants

5.5 Threat of substitutes

5.6 Threat of rivalry

5.7 Market condition

6 Market Segmentation by Type

6.1 Market segments

6.2 Comparison by Type

6.3 Straight wheels - Market size and forecast 2022-2027

6.4 Cylindrical wheels - Market size and forecast 2022-2027

6.5 Diamond wheels - Market size and forecast 2022-2027

6.6 Others - Market size and forecast 2022-2027

6.7 Market opportunity by Type

7 Market Segmentation by Material

7.1 Market segments

7.2 Comparison by Material

7.3 Artificial abrasives - Market size and forecast 2022-2027

7.4 Natural abrasives - Market size and forecast 2022-2027

7.5 Market opportunity by Material

8 Customer Landscape

8.1 Customer landscape overview

9 Geographic Landscape

9.1 Geographic segmentation

9.2 Geographic comparison

9.3 APAC - Market size and forecast 2022-2027

9.4 Europe - Market size and forecast 2022-2027

9.5 North America - Market size and forecast 2022-2027

9.6 Middle East and Africa - Market size and forecast 2022-2027

9.7 South America - Market size and forecast 2022-2027

9.8 China - Market size and forecast 2022-2027

9.9 US - Market size and forecast 2022-2027

9.10 Germany - Market size and forecast 2022-2027

9.11 UK - Market size and forecast 2022-2027

9.12 India - Market size and forecast 2022-2027

9.13 Market opportunity by geography

10 Drivers, Challenges, and Trends

10.1 Market drivers

10.2 Market challenges

10.3 Impact of drivers and challenges

10.4 Market trends

11 Vendor Landscape

11.1 Overview

11.2 Vendor landscape

11.3 Landscape disruption

11.4 Industry risks

12 Vendor Analysis

12.1 Vendors covered

12.2 Market positioning of vendors

12.3 3M Co.

12.4 Andre Abrasive Articles

12.5 ATLANTIC GmbH

12.6 AWUKO Abrasives Wandmacher GmbH Co. KG

12.7 Camel Grinding Wheels Works Sarid Ltd.

12.8 Compagnie de Saint Gobain SA

12.9 DEERFOS Co. Ltd.

12.10 DK Holdings Ltd.

12.11 DSA Products Ltd.

12.12 Koki Holdings Co Ltd

12.13 KOVAX

12.14 NORITAKE Co. Ltd.

12.15 Robert Bosch GmbH

12.16 SHIN-EI Grinding Wheels MFG. Co. Ltd.Â

12.17 Tyrolit KG

13 Appendix

13.1 Scope of the report

13.2 Inclusions and exclusions checklist

13.3 Currency conversion rates for US$

13.4 Research methodology

13.5 List of abbreviations

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