Global Honing Machines Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Global Honing Machines Market Research Report 2024-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2030

Honing is an abrasive process commonly used for finishing internal combustion engine cylinders, air-bearing spindles, and gears. Manufacturers make honing stones from aluminum oxide, silicon carbide, or diamond powder, depending on the metal being machined. Since honing is a slower process than grinding, there is less heat and pressure. This means that honing can achieve perfection in hole geometry, dimensional control, final surface finish, and surface structure. Manufacturers in the automotive industry, aerospace industry, mold making, medical industry, etc. widely use honing machines to process precision parts.

Market Overview:

The latest research study on the global Honing Machines market finds that the global Honing Machines market reached a value of USD 330.91 million in 2023. It’s expected that the market will achieve USD 393.3 million by 2029, exhibiting a CAGR of 2.92% during the forecast period.

The impact of the Russia-Ukraine war on the Honing Machines Market

The Russo-Ukrainian war has disrupted global agricultural and energy supply chains, with major repercussions for the global economy. The war led to sharp rises in food, fertilizer, and energy prices, exacerbating inflationary pressures, widening the gap between rich and poor, and triggering a food crisis. The Ukrainian region also absorbs international humanitarian aid and development funding that would otherwise be used to resolve conflicts and crises in other parts of the world. The turmoil in the political environment exacerbates the instability in the economic environment. According to McKinsey's September 2022 Global Economic Conditions Survey, European respondents mainly cited rising energy and material costs due to poor operating performance. Rising wages are the biggest concern in India and North America. The war has fueled global economic turmoil and rising interest rates, and the business environment in Russia has been challenging, with sanctions restricting payment options and rising inflation further squeezing consumers' disposable income. But as Russia threatens European security, the West has strengthened its cohesion by jointly imposing sweeping economic sanctions on Russia. Overall, the Russo-Ukraine war has disrupted supply chains and realigned global trade arrangements. Honing machine companies need to establish good supplier and partnership relationships to ensure supply chain security and cost control.

Advantages of honing machines

Precision surface treatment is post-processing for many parts manufacturing industries such as automotive, aerospace, and medical. Among them, the honing process is the most widely used and is suitable for precision parts of various shapes and sizes. The honing finishing process has many advantages. The first is to improve accuracy. Honing can meet the tight tolerances of many machined parts, ensuring that such parts are up to standard. Compared with grinding or fine boring, honing has a larger contact area and slower speed, which generates less heat. The second is honing versatility and compatibility. Honing machines can machine a wide variety of materials, including cast iron, mild steel, ceramics, and composites. Honing is suitable for parts of different lengths and weights, and even very small parts can be ground with ease. Any type of metal can be finished regardless of its hardness. Another important advantage is high production efficiency. A honing machine can run non-stop for days, and operating the machine on its highest setting will not affect the quality of the final output. This makes honing a cost-effective machining option for polishing holes. In addition, honing guarantees the safety of the operator and other employees. That's because it's fully automated, with no power to turn the workpiece, no chucks, panels, or rotary tables, so no chucking or positioning errors. Most honing machines are equipped with a protective cover, which prevents occupational hazards caused by flying particles. The advantages of honed products include that there is no friction in the work; the original centerline of the hole can be maintained; and high precision can be achieved. Therefore, as a basic tool for modern mechanical processing, honing machines are widely used in important fields of national economic development such as the automobile industry, aerospace, electrical equipment, railway locomotives, and construction machinery. With the development of science and technology, the downstream industry has higher and higher requirements for the performance and precision of grinding processing, and the replacement of products is becoming more and more frequent. The demand for honing machines with high precision, high efficiency, and a high degree of automation continues to grow.

Automobile and auto parts industry booming

The automobile and auto parts industry is one of the main application industries of honing machines. In recent years, the global automobile industry has developed steadily. The automobile industry has the characteristics of high industrial correlation, wide coverage, high technical requirements, strong comprehensiveness, a large number of parts and components, and high added value. The auto parts industry provides parts and components for the automobile manufacturing industry, including metal structural parts, injection molding products, etc. It is an important part of the automobile industry chain and the basis for the development of the automobile industry. For developing countries, their per capita car ownership level is still lower than that of developed countries, and the auto industry has broad room for development. For developed countries, the huge number of cars makes the demand for parts related to car maintenance huge. At the same time, the adjustment of industrial structure has injected new vitality into the development of the automobile industry. With the increase of energy saving and emission reduction measures in various countries, the backward production capacity of the automobile industry will be eliminated. All kinds of new energy and low-emission vehicles will become a new investment direction in the automotive industry. Generally speaking, with the continuous growth of the global economy, the increase of per capita income, the increase of urbanization rate, and the continuous improvement of road transportation facilities, the automobile and auto parts industry will maintain a relatively high development speed for a long time. The development of the automobile and auto parts industry has provided a stable growth market space for the honing machine industry.

Region Overview:

In 2022, the share of the Honing Machines market in China stood at 30.59%.

Company Overview:

The major players operating in the Honing Machines market include Nagel-Gruppe, Gleason Corporation, Sunnen Products Company, DVS TECHNOLOGY GROUP, Ningxia Zhongwei Dahe Machine Tool Co.Ltd., etc. Among which, Nagel-Gruppe ranked top in terms of sales and revenue in 2023.

NAGEL is the world's leading specialist in the field of honing and superfinishing technology. For more than half a century we have been giving our customers a valuable technological advantage with innovative solutions. And now on four continents. Our machines, tools, and services related to honing and superfinishing ensure maximum quality, productivity, and process reliability in your production.

Nagel-Gruppe is one of the major players operating in the Honing Machines market, holding a share of 35.99% in 2023.

Segmentation Overview:

As for product types, the Vertical Honing Machine segment held the largest market share in 2022.

Application Overview:

By application, the Automotive segment occupied the biggest share from 2018 to 2022.

Key Companies in the global Honing Machines market covered in Chapter 3:

DVS TECHNOLOGY GROUP
Baoji Machine Tool Group Co., Ltd.
PEMAMO SA
Toyo Advanced Technologies Co. Ltd.
Ningxia Zhongwei Dahe Machine Tool Co.Ltd.
KANZAKI KOKYUKOKI MFG. CO. LTD.
Nagel-Gruppe
Sunnen Products Company
Gleason Corporation

In Chapter 4 and Chapter 14.2, on the basis of types, the Honing Machines market from 2019 to 2030 is primarily split into:

Horizontal Honing Machine
Vertical Honing Machine

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Honing Machines market from 2019 to 2030 covers:

Automotive
Aerospace & Defense
Industrial
Railway
Mining
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2019-2030) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)