The growth of the grinding wheel market will grow at a CAGR of 5.24% between 2022 and 2027 due to the growing demand from the oil and gas industry.

NEW YORK, Feb. 27, 2023 /PRNewswire/ — The grinding wheel market is projected to increase by $5,877.71 million between 2022 and 2027, with a CAGR over the forecasted period will be 5.24%. Growing demand for grinding wheels in the oil and gas industry is driving market growth. Grinding wheels have many applications in the petroleum and industrial industries. They are widely used in the production, maintenance and repair of mining, processing and processing equipment. Globally, exploration and production activities have picked up as crude oil prices have recovered. This has led to an increase in the number of active drilling rigs. Due to these factors, the market growth will gain momentum during the forecast period.A look at the market size, history and forecast from 2017 to 2021, from 2022 to 2027 Download Sample Report
The growth of the straight wheel segment market will be significant during the forecast period. This segment is driven by an increase in the use of straight grinding wheels for round, centerless and surface grinding operations. This segment is also driven by growth in end-user industries such as automotive, aerospace and shipbuilding.
The Asia-Pacific region will account for 53% of the market growth during the forecast period. Factors such as the rowing industry and economic development as well as growing demand from the automotive, aerospace and defense industries are driving the growth of the abrasive wheel market in the Asia Pacific region.
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 和 Wendt (India) Ltd.
Analysis of the parent market, drivers and barriers to market growth, analysis of fast-growing and slow-growing segments, analysis of the impact of COVID-19 and recovery, and future consumer dynamics, and analysis of the state of the market during the forecast period.
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Post time: Mar-16-2023

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