Cutting Wheels Market Size, Share & Trend Analysis, By Wheel Type, By Disc Material, By Abrasive Type, By Grit Size, By Application, By End-Use Industry, By Geography Competitive Tactics, and Segment Forecast to 2030
Mechanics & Equipment
Reports and Insights
Cutting Wheels Market: Introduction
Reports & Insights predicts that the global cutting wheels market is expected to grow at a CAGR of 5.6% during the forecast period from 2022 to 2030. Furthermore, the total value of the global cutting wheels market is slated to reach US$ 3.1 Bn by 2030, rising from US$ 2.2 Bn in 2022.
The Reports and Insights team has drafted a market research report on the Cutting Wheels market with the objective of identifying the primary market drivers, market trends, challenges, and opportunities that business owners encounter. The report includes the market segmentation forecast, geographic perspective, and recent market developments for the Cutting Wheels market. Additionally, it provides extensive information on market size, market share, industry and product insights, SWOT analysis, Porter's five forces analysis, PESTEL analysis, heat map analysis, market forecast, and prominent market players of the Cutting Wheels market.
Cutting wheels are an essential tool used in a variety of industries for cutting, grinding, and polishing different types of materials such as metal, stone, and ceramics. They are available in a wide range of sizes, shapes, and materials to meet different cutting and grinding needs. The use of cutting wheels in various applications such as metalworking, construction, automotive, and aerospace industries has led to an upsurge in demand for these tools.
Additionally, the advancements in technology and innovation have led to the development of more efficient and high-performance cutting wheels, further boosting the market growth. As a result, the global market for cutting wheels is expected to witness significant growth in the coming years.
Scope of the Report:
Market size available for the years
By Wheel Type, By Disc Material, By Abrasive Type, By Grit Size, By Application, By End Use Industry and By Region
The U.S. & Canada
Brazil, Mexico, Argentina, & Rest of Latin America
China, India, Japan, Australia & New Zealand, ASEAN, & Rest of Asia Pacific
The U.K., France, Spain, Italy, Russia, Poland, BENELUX, NORDIC, & Rest of Europe
North Africa, Egypt, & Rest of Africa
The Middle East
GCC Countries, Israel, & Rest of the Middle East
Makita Corporation, Walter Surface Technologies Inc., Dremel, 3M, Grindwell Norton Ltd., Lenox Tools, Ryobi Limited, DEWALT, Shark Industries LTD., Forney Industries Inc. among others
Cutting Wheels Market: Dynamics
Rise in Industrialization
The rise in industrialization is a major driver for the growth of the cutting wheel market. As countries around the world continue to develop and modernize, there is an increasing demand for cutting and grinding tools in various industries. This is particularly true in developing countries, where industrialization is on the rise, and there is a need for efficient and effective tools to support manufacturing and construction activities. Industrialization has led to an increase in the production of goods and services, which in turn has boosted the demand for cutting wheels. These tools are used in a variety of industrial applications such as cutting and shaping metal parts, grinding and polishing surfaces, and cutting materials such as concrete and asphalt. Owing to such factors, the cutting wheels market is anticipated to witness considerable growth over the years.
Rapid Growth in Automobile Industry
The increase in demand for automobiles is another major driver which is estimated to boost the growth of the cutting wheel market. The automotive industry is one of the largest consumers of cutting wheels, and the growth of the industry directly impacts the demand for these tools. Market analysis shows that the demand for automobiles is increasing due to several factors such as the rise in population, urbanization, and the growth of the middle-class population in developing countries. This has resulted in a surge in the production of automobiles, leading to an increase in the demand for cutting wheels.
Significantly, cutting wheels are used in various stages of the manufacturing process of automobiles, from cutting and shaping metal parts to grinding and polishing surfaces. The precision and efficiency of these tools are crucial in ensuring the quality and reliability of the finished product. Hence, the growth of the automotive industry is directly linked to the growth of the cutting wheel market. Attributing to which, the global cutting wheels market is estimated to witness major breakthroughs over the forecast period.
Cutting Wheels Market: Restraints
Growing Popularity of Alternatives
The market is observing an increase in the popularity of alternative cutting methods such as laser cutting and waterjet cutting, which is likely to limit the growth of the global cutting wheels market in the near future. These cutting methods offer several advantages over traditional cutting wheels, such as higher precision, faster cutting speeds, and lower operational costs. As a result, the market growth of cutting wheels may be affected as customers switch to these alternative cutting methods, which could potentially slow down the growth of the cutting wheel market.
Cutting Wheels Market: Opportunities
Growing Demand of Cutting Wheels in the Renewable Energy Industry
One of the major market opportunities for cutting wheels is the increasing demand for cutting wheels in the renewable energy industry, which is estimated to boost the cutting wheels market growth over the future years. As the world shifts towards renewable energy sources such as wind and solar power, there is a growing need for cutting wheels to manufacture the components used in the production of renewable energy equipment. These components include wind turbine blades, solar panels, and batteries. The demand for cutting wheels in the renewable energy industry is expected to increase in the coming years, providing an opportunity for market growth.
Cutting Wheels Market Segmentation Outlook
The cutting wheels market is segmented based on wheel type, disc material, abrasive type, grit size, application, end use industry and region.
By Wheel Type
Straight Cutting Wheels
Depressed Center Cutting Wheels
By Disc Material
Other Materials (Nickel, Alloys, Titanium, Aluminium)
By Abrasive Type
Diamond Cutting Wheels
By Grit Size
Coarse (8-24 CAMI Units)
Very Fine (220-600)
By End-Use Industry
Cutting Wheels Market Key Players
Some of the key participating players in the cutting wheels market are:
Walter Surface Technologies Inc.
Grindwell Norton Ltd.
Shark Industries LTD.
Forney Industries Inc.
Cutting Wheels Market: Regional Analysis
In North America, the cutting wheel market is expected to grow due to the increase in infrastructure development and the growing demand for cutting tools in the automotive and aerospace industries. The United States is the largest market for cutting wheels in North America.
In Europe, the cutting wheel market is driven by the growth of the manufacturing industry and the increase in demand for cutting and grinding tools in the construction and automotive sectors. Germany is the largest market for cutting wheels in Europe.
In the Asia Pacific region, the cutting wheel market is expected to grow due to the increase in industrialization and infrastructure development in countries such as China and India. The growth of the construction industry and the increasing demand for automobiles are also driving the market. China is the largest market for cutting wheels in the Asia Pacific region.