Grinding, Sanding and Polishing Machine Market

The article discusses the increasing demand for grinding, sanding and polishing machines globally, with projections for market growth in both volume and value terms. It provides insights into consumption trends, market sizes, production statistics, import and export data, as well as key players in the industry. The analysis covers various countries, highlighting consumption patterns, market values, and growth rates. Overall, the article presents a comprehensive overview of the grinding, sanding and polishing machine market, offering valuable information for industry stakeholders and investors.

Market Forecast

Driven by increasing demand for grinding, sanding and polishing machines worldwide, the market is expected to continue an upward consumption trend over the next eight years. Market performance is forecast to decelerate, expanding with an anticipated CAGR of +0.7% for the period from 2022 to 2030, which is projected to bring the market volume to 3.8M units by the end of 2030.

In value terms, the market is forecast to increase with an anticipated CAGR of +2.8% for the period from 2022 to 2030, which is projected to bring the market value to $5.1B (in nominal prices) by the end of 2030.

Consumption

World Consumption of Grinding, Sanding Or Polishing Machines

In 2022, the amount of grinding, sanding and polishing machines consumed worldwide expanded to 3.6M units, increasing by 4.9% on the previous year's figure. In general, the total consumption indicated a noticeable expansion from 2012 to 2022: its volume increased at an average annual rate of +3.1% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +16.1% against 2020 indices. Global consumption peaked in 2022 and is likely to continue growth in years to come.

The size of the market for grinding, sanding and polishing machines worldwide fell modestly to $4.1B in 2022, with a decrease of -3.1% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). Overall, the total consumption indicated a modest expansion from 2012 to 2022: its value increased at an average annual rate of +1.5% over the last decade. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, consumption increased by +17.1% against 2020 indices. Global consumption peaked at $4.4B in 2019; however, from 2020 to 2022, consumption stood at a somewhat lower figure.

Consumption By Country

The countries with the highest volumes of consumption in 2022 were India (752K units), China (614K units) and the United States (431K units), with a combined 50% share of global consumption. The UK, Brazil, the Netherlands, Japan, Chile, Canada, Germany, Russia and Mexico lagged somewhat behind, together comprising a further 29%.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +22.6%), while consumption for the other global leaders experienced more modest paces of growth.

In value terms, India ($1.2B), Japan ($933M) and Russia ($395M) appeared to be the countries with the highest levels of market value in 2022, with a combined 61% share of the global market. Mexico, the United States, China, the Netherlands, Germany, Brazil, Chile, Canada and the UK lagged somewhat behind, together accounting for a further 15%.

Chile, with a CAGR of +19.1%, recorded the highest rates of growth with regard to market size among the main consuming countries over the period under review, while market for the other global leaders experienced more modest paces of growth.

The countries with the highest levels of grinding, sanding and polishing machine per capita consumption in 2022 were the Netherlands (7.2 units per 1000 persons), Chile (5.4 units per 1000 persons) and the UK (3.2 units per 1000 persons).

From 2012 to 2022, the most notable rate of growth in terms of consumption, amongst the main consuming countries, was attained by Chile (with a CAGR of +21.3%), while consumption for the other global leaders experienced more modest paces of growth.

Production

World Production of Grinding, Sanding Or Polishing Machines

In 2022, global production of grinding, sanding and polishing machines declined to 2.4M units, waning by -4.6% on the previous year. Overall, production, however, showed a relatively flat trend pattern. The pace of growth appeared the most rapid in 2015 when the production volume increased by 28%. Over the period under review, global production reached the maximum volume at 2.8M units in 2019; however, from 2020 to 2022, production failed to regain momentum.

In value terms, grinding, sanding and polishing machine production shrank to $2.7B in 2022 estimated in export price. In general, production saw a noticeable curtailment. The growth pace was the most rapid in 2021 with an increase of 26%. Over the period under review, global production hit record highs at $3.6B in 2012; however, from 2013 to 2022, production stood at a somewhat lower figure.

Production By Country

China (1.4M units) remains the largest grinding, sanding and polishing machine producing country worldwide, comprising approx. 58% of total volume. Moreover, grinding, sanding and polishing machine production in China exceeded the figures recorded by the second-largest producer, Japan (119K units), more than tenfold. The third position in this ranking was held by Germany (92K units), with a 3.8% share.

In China, grinding, sanding and polishing machine production increased at an average annual rate of +6.6% over the period from 2012-2022. In the other countries, the average annual rates were as follows: Japan (-0.7% per year) and Germany (+1.8% per year).

Imports

World Imports of Grinding, Sanding Or Polishing Machines

In 2022, global imports of grinding, sanding and polishing machines rose to 2.2M units, growing by 4.1% on the year before. Overall, imports saw a prominent increase. The pace of growth was the most pronounced in 2017 with an increase of 25% against the previous year. Global imports peaked in 2022 and are likely to see gradual growth in the near future.

In value terms, grinding, sanding and polishing machine imports fell to $502M in 2022. The total import value increased at an average annual rate of +1.2% from 2012 to 2022; however, the trend pattern remained consistent, with somewhat noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2017 with an increase of 21% against the previous year. Global imports peaked at $511M in 2021, and then dropped in the following year.

Imports By Country

India was the main importing country with an import of about 754K units, which accounted for 35% of total imports. The United States (422K units) took a 19% share (based on physical terms) of total imports, which put it in second place, followed by the UK (11%), the Netherlands (6.6%), Brazil (5.7%) and Chile (5.1%). Canada (92K units) held a relatively small share of total imports.

From 2012 to 2022, the biggest increases were recorded for Chile (with a CAGR of +42.5%), while purchases for the other global leaders experienced more modest paces of growth.

In value terms, the United States ($136M) constitutes the largest market for imported grinding, sanding and polishing machines worldwide, comprising 27% of global imports. The second position in the ranking was taken by India ($21M), with a 4.1% share of global imports. It was followed by Canada, with a 4.1% share.

In the United States, grinding, sanding and polishing machine imports expanded at an average annual rate of +3.9% over the period from 2012-2022. In the other countries, the average annual rates were as follows: India (+3.9% per year) and Canada (+4.4% per year).

Import Prices By Country

The average import price for grinding, sanding and polishing machines stood at $230 per unit in 2022, with a decrease of -5.6% against the previous year. Over the period under review, the import price saw a abrupt shrinkage. The growth pace was the most rapid in 2017 when the average import price decreased by -3.5%. Over the period under review, average import prices reached the peak figure at $667 per unit in 2012; however, from 2013 to 2022, import prices remained at a lower figure.

There were significant differences in the average prices amongst the major importing countries. In 2022, amid the top importers, the country with the highest price was the United States ($322 per unit), while India ($27 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by Canada (-1.8%), while the other global leaders experienced a decline in the import price figures.

Exports

World Exports of Grinding, Sanding Or Polishing Machines

After eight years of growth, shipments abroad of grinding, sanding and polishing machines decreased by -16.6% to 998K units in 2022. Over the period under review, exports, however, saw prominent growth. The most prominent rate of growth was recorded in 2014 when exports increased by 35% against the previous year. Over the period under review, the global exports reached the peak figure at 1.2M units in 2021, and then dropped notably in the following year.

In value terms, grinding, sanding and polishing machine exports amounted to $496M in 2022. The total export value increased at an average annual rate of +3.4% from 2012 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. The most prominent rate of growth was recorded in 2021 when exports increased by 18%. The global exports peaked in 2022 and are likely to see steady growth in the near future.

Exports By Country

China dominates exports structure, finishing at 788K units, which was near 79% of total exports in 2022. Taiwan (Chinese) (35K units), the UK (28K units), the Netherlands (20K units), Germany (19K units) and Italy (18K units) held a minor share of total exports.

China was also the fastest-growing in terms of the grinding, sanding and polishing machines exports, with a CAGR of +21.4% from 2012 to 2022. At the same time, Italy (+10.4%), the UK (+6.9%), Germany (+3.3%) and Taiwan (Chinese) (+1.3%) displayed positive paces of growth. By contrast, the Netherlands (-13.5%) illustrated a downward trend over the same period. While the share of China (+49 p.p.) increased significantly in terms of the global exports from 2012-2022, the share of Germany (-1.8 p.p.), Taiwan (Chinese) (-4.7 p.p.) and the Netherlands (-20.9 p.p.) displayed negative dynamics. The shares of the other countries remained relatively stable throughout the analyzed period.

In value terms, China ($120M), Germany ($119M) and Taiwan (Chinese) ($62M) constituted the countries with the highest levels of exports in 2022, together comprising 61% of global exports.

In terms of the main exporting countries, China, with a CAGR of +20.1%, recorded the highest growth rate of the value of exports, over the period under review, while shipments for the other global leaders experienced more modest paces of growth.

Export Prices By Country

The average export price for grinding, sanding and polishing machines stood at $498 per unit in 2022, picking up by 21% against the previous year. In general, the export price, however, saw a deep slump. The global export price peaked at $958 per unit in 2013; however, from 2014 to 2022, the export prices failed to regain momentum.

There were significant differences in the average prices amongst the major exporting countries. In 2022, amid the top suppliers, the country with the highest price was Germany ($6,119 per unit), while the UK ($110 per unit) was amongst the lowest.

From 2012 to 2022, the most notable rate of growth in terms of prices was attained by the Netherlands (+12.3%), while the other global leaders experienced mixed trends in the export price figures.

Source: IndexBox Market Intelligence Platform