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NEW YORK, Jan. 29, 2022 /PRNewswire/ — The latest market outlook report titled “Grinding Wheel Market by Type and Geography – Forecast and Analysis 2021-2025” has been added to Technavio’s catalog. This recent market analysis report identifies the market to witness a potential growth difference of USD 50 billion from 2020 to 2025. The grinding wheel market is anticipated to record an accelerating growth momentum at a CAGR of 4.88% during this period.
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Parent Market Overview
Technavio categorizes the global grinding wheels market as a part of the global industrial machinery market within the industrials sector. The parent global industrial machinery market covers companies engaged in the manufacturing of industrial machinery and components covering presses, machine tools, compressors, pollution control equipment, elevators, escalators, insulators, pumps, roller bearings, and other metal fabrications.
Technavio calculates the global industrial machinery market size based on combined revenue generated by manufacturers of machinery and components used in the industrial environment. The growth of this market will be driven by factors including growing industrial output leading to capacity additions in process and discrete industries and ease of operability of industrial machines.
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Market Competitive Landscape
The grinding wheel market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.
Technavio has classified the industry-focused market players into dominant and strong players based on their annual revenues and market shares in this report. Some of the key players covered in this report include 3M Co., ATLANTIC GmbH, Carborundum Universal Ltd., Compagnie de Saint-Gobain SA, DEERFOS Co. Ltd., Koki Holdings Co. Ltd., NORITAKE Co. Ltd., Robert Bosch GmbH, SHIN-EI Grinding Wheels MFG. Co. Ltd. , and Tyrolit – Schleifmittelwerke Swarovski KG among others.
Strategic Initiatives and Products launches
- 3M Co. -In April 2019the company announced that it had added 3M Extended Wear Medical Transfer Adhesive 4075 to its lineup of advanced adhesives for medical devices. In March 2019the company announced that it would be realigning its operations from five to four business segments. The new structure will comprise four business segments, namely Safety & Industrial, Transportation & Electronics, Health Care, and Consumer.
- Compagnie de Saint-Gobain SA: n October 2019the company announced the completion of the sale of its Optimera construction materials distribution business in Denmark.In May 2019the company acquired Pritex Ltd., a key player in acoustic and thermal insulation solutions.
- Robert Bosch GmbH: In July 2019Robert Bosch GmbH acquired Gesellschaft für Regelungstechnik und Energieeinsparung mbH headquartered in Verl, Germany.
For more insights on competitive strategies and…
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