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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
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Grinding Wheel Market Type Outlook (Revenue, USD Million, 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 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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Accelerate at a CAGR of 5.24%
APAC, Europe, North America, Middle East and Africa, and South America
US, China, India, Germany, and UK
Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks
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.
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.
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