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Global Grinding Wheel Market to Grow by $ 50 Billion During 2021-2025
 Technavio forecast the global grinding wheel market is expected to grow by USD 50 billion during 2021-2025. This marks a significant market slow down compared to the 2019 growth estimates due to the impact of the COVID-19 pandemic in the first half of 2020. However, healthy growth is expected to continue throughout the forecast period, and the market is expected to grow at a CAGR of almost 5%.

The grinding wheel market is driven by the constant demand for grinding wheels from the oil and gas industries. In addition, the application of artificial intelligence and system integration is anticipated to boost the growth of the grinding wheel market.

Grinding wheels are extensively used in the oil and gas industry for various applications such as manufacturing, maintenance, and repair of upstream, midstream, and downstream components. With the recovery of crude oil prices, upstream operations have significantly gained momentum across the world. In addition, the growth in active rig count, especially in North America has increased the demand for grinding wheels in the oil and gas industry. These factors are expected to foster the growth of the global grinding wheel market during the forecast period.

(Information from
Technavio)

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