Global CNC Cylindrical Grinding Machines Market to Reach $1.6 Billion by 2030
The global market for CNC Cylindrical Grinding Machines estimated at US$1.3 Billion in the year 2023, is expected to reach US$1.6 Billion by 2030, growing at a CAGR of 3.5% over the analysis period 2023-2030. Plunge Type CNC Cylindrical Grinding Machines, one of the segments analyzed in the report, is expected to record a 3% CAGR and reach US$307.4 Million by the end of the analysis period. Growth in the Angular Type CNC Cylindrical Grinding Machines segment is estimated at 2.8% CAGR for the next 7-year period.
The U.S. Market is Estimated at $339.3 Million, While China is Forecast to Grow at 6% CAGR
The CNC Cylindrical Grinding Machines market in the U.S. is estimated at US$339.3 Million in the year 2023. China, the world`s second largest economy, is forecast to reach a projected market size of US$362.6 Million by the year 2030 trailing a CAGR of 6% over the analysis period 2023 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 1% and 2.6% respectively over the 2023-2030 period. Within Europe, Germany is forecast to grow at approximately 1.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$244.2 Million by the year 2030.
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