Global Industry Analysts (GIA) has released a comprehensive global report on the grinding machine market, which the report forecasts to reach $3.19 billion, by 2015.

Future demand is forecast to stem from developing markets, with increased infrastructure development activities in sectors such as manufacturing, power, shipbuilding and other utilities, and rapid economic development in countries, such as China and India.

The grinding machine market is a mature market worldwide characterised by stabilising growth patterns. The relatively sedate growth pattern displayed by the market, mirrors the high level of technology penetration.

In upcoming years innovation will be focused largely on customising products, and existing technologies to meet the requirements of newer applications, such as, in wind power systems, and the oil and gas industry. North America, in particular, is forecast to record increases in demand given the fact that wind energy generation is fastest growing in the United States.

Europe and Asia-Pacific collectively account for nearly two-thirds of the worldwide grinding machines market. Demand for surface grinding machines, after years of steady growth driven largely by replacements of traditional machine tools and early 2000s boom of the automotive, aerospace and defense industry, is now forecast to slowdown tempered by market maturity, global economic slowdown and the prolonged state of doldrums in the automotive industry. Investments in building energy infrastructure, and upgrading of ageing utilities will offer opportunities for growth for surface grinding machines.

The market is expected to benefit from the modernising projects in several developing countries. Key factors expected to drive future growth include strong and promising opportunities in the energy industry (specifically wind power), and in the turbine manufacturing industry. Demand for CNC grinding machines will be driven by Asian countries, where increased manufacturing, modernisation and expansion activity in the aircraft manufacturing industry is imminent, due to promising expansion in air travel, and overall economic growth.

More details about this market research report, can be found here

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