Global Automatic Honing Machine Market Size By Type (Vertical, Horizontal), By Application (Automotive, Tractor), By Geographic Scope And Forecast

Automatic Honing Machine Market Size And Forecast

Automatic Honing Machine Market size was valued at USD 188.09 Million in 2023 and is projected to reach USD 238.96 Million by 2030, growing at a CAGR of 3.10% from 2024 to 2030.

Increasing demand for precision components and growing emphasis on surface finish quality are the factors driving the market growth. The Global Automatic Honing Machine Market report provides a holistic evaluation of the market. The report offers a comprehensive analysis of key segments, trends, drivers, restraints, competitive landscape, and factors that are playing a substantial role in the market.

Global Automatic Honing Machine Market Executive Summary

The Global Automatic Honing Machine Market has grown substantially in recent years, driven by the increasing demand for precision machining in various industries. Honing machines play a critical role in enhancing cylindrical components’ surface finish and geometric accuracy, making them indispensable in sectors such as automotive, aerospace, defense, and oil and gas. This market’s expansion is underpinned by the relentless pursuit of efficiency and quality in manufacturing processes worldwide.

One of the key factors fuelling the growth of the Automatic Honing Machine Market is the rising emphasis on automation and technological advancements in machining operations. Automatic honing machines offer unparalleled precision and consistency in the honing process, reducing human error and increasing overall productivity. Manufacturers are increasingly adopting these automated solutions to streamline production processes, improve product quality, and remain competitive globally.

The automotive industry, in particular, has emerged as a significant driver for the Automatic Honing Machine Market. With the growing demand for high-performance and fuel-efficient vehicles, manufacturers are pressured to produce engine components with tight tolerances and exceptional surface finishes. Automatic honing machines enable them to achieve these exacting standards, contributing to modern engines’ overall efficiency and reliability.

Furthermore, the market is witnessing a surge in demand for honing machines with advanced features such as real-time monitoring, data analytics, and remote connectivity. These capabilities enable manufacturers to optimize their processes, minimize downtime, and proactively address any issues that may arise during operation. As industries increasingly prioritize smart manufacturing and Industry 4.0 principles, integrating such technologies is expected to propel the Automatic Honing Machine Market forward.

Automatic Honing Machine Market Attractiveness Analysis

The above figure represents the bubble chart. It has been employed to depict market attractiveness by combining three data pointsthe X-axis and Y-axis, and the size of the bubbles. This visual representation helps identify markets with optimal characteristics, aiding strategic decision-making based on attractiveness criteria. Here, for each region, the bubble size represents the incremental value from the year 2024 to 2030. The same is been reflected, for instance, the Asia-Pacific in the Global Automatic Honing Machine Market holds the highest attractiveness during the forecast period. The image represents the market value of the APAC region in 2024 and it’s CAGR.

The bubble size is the largest for APAC as it has the highest incremental value compared to other regions. The region is projected to gain incremental market value of USD 18.02 Million and it is projected to grow at a CAGR of 3.36% between 2024 to 2030. The rapid expansion of the manufacturing and automotive industries is driving the Chinese demand for automated honing equipment. China is the world’s industrial powerhouse, so precise machining tools, such as automatic honing machines, are in high demand there. The country’s rapidly expanding aircraft sector contributes even more to the market’s growth.

Global Automatic Honing Machine Market Outlook

The growing global demand for precision components is a major driving force behind the expansion of the Automatic Honing Machine Market. Precision components play an important role in a variety of industries by providing highly accurate and precisely manufactured machine components. Precision parts are used in a wide range of industries, including automotive, healthcare, and electronics. Advancements in electric vehicle technology and self-driving systems necessitate the use of advanced precision engineering machines to produce the intricate and precise components required by these emerging automotive technologies. Furthermore, the automotive sector’s emphasis on automation, process optimization, and cost efficiency encourages the use of precision engineering machines to improve manufacturing productivity and quality.

Besides, there is a growing emphasis on surface finish quality which is driving the market. Automatic honing machines are essential for producing high-quality surface finishes on machined components. Machining parameters and composite material processes are critical for producing the necessary parts for the resulting assembly while maintaining the required geometrical shapes and dimensional tolerances. Milling, drilling, turning, abrasive cutting, and grinding are common machining processes used to produce complex composite parts. As surface finish measurement moves closer to the point of manufacture, automating the process results in more intelligent quality control operations in the production line, maximizing productivity while improving quality and machining efficiency.

However, high initial investments and technological complexity, combined with a shortage of skilled workers, place a significant constraint on the Global Automatic Honing Machine Market, affecting both the development and widespread adoption of these machines in a variety of industries. Nevertheless, the growing use of automatic honing machines in the automotive industry creates significant growth opportunities for the global market. Also, as emerging markets continue to industrialize, there may be an increase in demand for advanced machining technologies such as automatic honing machines. The expansion of manufacturing sectors in Asia-Pacific and Latin America opens up new market opportunities.

Global Automatic Honing Machine MarketSegmentation Analysis

The Global Automatic Honing Machine Market is Segmented on the basis of Type, Application, and Geography.

Automatic Honing Machine Market, By Type

• Vertical
• Horizontal

To Get a Summarized Market Report By Type-

Based on Type, the market is segmented into Vertical and Horizontal. Vertical accounted for the largest market share in 2022 and is projected to grow at the highest CAGR during the forecast period. Horizontal was the second-largest market in 2022. The demand for the vertical honing machines is on the rise due to their superior advantages including better control over the honing tool, offer greater surface finishes and roundness when compared to horizontal honing machines. Further, its application is increasing across various applications that demand great accuracy and consistency, because they can achieve higher dimensional and shape accuracy. The horizontal honing machine offers improved accessibility and provides greater support for the workpiece, increasing stability and reducing vibration. These machines can handle a wider range of workpiece sizes and forms than vertical machines.

Automatic Honing Machine Market, By Application

• Automotive
• Tractor
• Aerospace
• Others

To Get a Summarized Market Report By Application-

By Application, the market is segmented into Automotive, Tractor, Aerospace, and Others. Automotive accounted for the largest market share in 2022 and is projected to grow at the highest CAGR during the forecast period. Honing machines are used to meticulously produce precision automobile parts, which have a direct impact on a vehicle’s longevity, performance, and efficiency. The Automatic Honing Machine Market will have a big impact on the future development of the automobile industry. These gadgets support the production of durable, high-performance, fuel-efficient cars, which contribute to a more sustainable and clean transportation environment.

Aerospace was the second-largest market in 2022. The aircraft industry has a tremendous impact on innovation, worldwide connectivity, and technological advancements. As one of the most demanding and dynamic industries, it primarily relies on precision engineering and cutting-edge technology to ensure the efficacy, dependability, and safety of its products. This propels the market for automatic honing machines to the forefront as a critical component supporting the production processes that result in high-performance aerospace components.

Automatic Honing Machine Market, By Geography

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East and Africa

On the basis of Regional Analysis, the Automatic Honing Machine Market is classified into North America, Europe, Asia Pacific, Latin America, and Middle East and Africa. Asia-Pacific accounted for the largest market share in 2022 and is projected to grow at the highest CAGR during the forecast period. The demand for automatic honing machines in Asia-Pacific is growing due to a significant rise in overall vehicle production. China, Japan, India, and several Southeast Asian countries are hubs for the production of vehicles, which drives the demand for automated honing machines. Growing advancement with the rapid adoption of new technologies in the region for boosting production with high precision is driving the market growth. North America was the second-largest market in 2022. Increasing production for passenger cars, commercial vehicles, and construction and off-road vehicles in North America, especially in the United States is contributing to the market growth.

Key Players

The “Automatic Honing Machine Market” study report will provide valuable insight with an emphasis on the global market. The major players in the market are Sunnen Products Company, AMC-SCHOU A/S, Engis Corporation, Fuji Honing Industrial Co., Ltd, Gehring, Gleason, Shanghai Honing Machinery Co. Ltd, Hardinge, KADIA Production, Kanzaki Kokyukoki Manufacturing Co. Ltd., Toyo Advanced Technologies Co., Ltd., Pemamo Honing, Rottler Manufacturing Company, among others. This section provides a company overview, ranking analysis, company regional and industry footprint, and ACE Matrix.

Company Market Ranking Analysis

The company ranking analysis provides a deeper understanding of the top 3 players operating the Automatic Honing Machine Market. takes into consideration several factors before providing a company ranking. The top three players for the Automatic Honing Machine Market include Sunnen Products Company, Gleason, and Hardinge. The factors considered for evaluating these players include the company’s brand value, product portfolio (including product variations, specifications, features, and price), company presence across major regions, product-related sales obtained by the company in recent years, and its share in total revenue. further studies the company’s product portfolio based on the technologies adopted or new strategies undertaken by the company to enhance its market presence globally or regionally. We also consider the distribution network (online as well as offline) of the company that helps us to understand the company’s presence and foothold in various Automatic Honing Machine Markets.

Company Regional/Industry Footprint

The company’s regional section provides geographical presence, regional-level reach, or the respective company’s sales network presence. For instance, Sunnen Products Company has a presence across North America, Europe, APAC, and Latin America. All the companies considered for profiling are reviewed similarly under this section. These sections help us to understand the overall Automatic Honing Machine Market presence across GCC.

Ace Matrix

This section of the report provides an overview of the company evaluation scenario in the Automatic Honing Machine Market. The company evaluation has been carried out based on the outcomes of the qualitative and quantitative analyses of various factors such as product portfolios, technological innovations, market presence, revenues of companies, and the opinions of primary respondents.