Global Coordinate Measuring Machines (CMM) Market Experiences Significant Growth
Global Market for Coordinate Measuring Machines (CMM)
Dublin, Aug. 03, 2023 (GLOBE NEWSWIRE) -- The "Coordinate Measuring Machines (CMM): Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global Coordinate Measuring Machines (CMM) market is experiencing significant growth, with developing countries playing a vital role in driving future expansion. The off-shoring of manufacturing activities has led to increased demand for CMMs in these regions. In particular, the automobile sector has emerged as a key driver, as the upward trajectory in automobiles production spurs market demand.
The aerospace & defense sector also offers substantial growth opportunities for CMM adoption. The advent of smaller field-of-view laser sensors has been a boon to the aircraft industry. Additionally, the heavy equipment industry shows promising prospects for CMM market growth. The medical device sector has witnessed a growing penetration of CMMs, while portable CMMs continue to rise in demand.
Market trends also indicate that articulated arm machines, optical CMMs, and macro CMMs are gaining rapid popularity. Expanding CMM capabilities, software upgrades, and advanced probes are keeping the market dynamic. Automated CMMs are becoming the new 'it' in dimensional metrology, and technology advancements are spearheading overall market growth. Notably, technology that reduces the set-up time of coordinate measuring machines, optical CMM for automatic measurement of small cast parts, the rise of optical scanners, and the emergence of multi-axis industrial robots have contributed to the market's progress.
Other notable trends include portable articulated arms, on-machine probing, comparative gauging, and automated metrology software. CMM verification is gaining prevalence in the market. However, it's important to note that the market faces certain challenges that industry players are actively addressing.
The global market for Coordinate Measuring Machines (CMM) estimated at US$2.9 Billion in the year 2022, is projected to reach a revised size of US$6.7 Billion by 2030, growing at a CAGR of 11% over the analysis period 2022-2030. Fixed, one of the segments analyzed in the report, is projected to record 10.4% CAGR and reach US$3.7 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Portable segment is readjusted to a revised 11.7% CAGR for the next 8-year period. The Coordinate Measuring Machines (CMM) market in the U.S. is estimated at US$788 Million in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$1.6 Billion by the year 2030 trailing a CAGR of 16.4% over the analysis period 2022 to 2030. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 5.8% and 9.7% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 7% CAGR.
The market research report provides a comprehensive analysis of Coordinate Measuring Machines (CMM) sales across various geographic regions. The report includes three main sections for each category: recent past, current, and future analysis. These sections provide annual sales figures in US dollars (US$) million for the years 2022 through 2030, along with the corresponding compound annual growth rate (CAGR). The report also includes a historical review of CMM sales for the years 2014 through 2021, with CAGR values. Furthermore, the report offers a 16-year perspective, presenting the percentage breakdown of value sales for the years 2014, 2023, and 2030 in the regions of USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
Additionally, there are specific tables focusing on different types of Coordinate Measuring Machines, such as "Fixed" and "Portable." These tables provide detailed independent analysis of annual sales in US$ million for the years 2022 through 2030, along with % CAGR values. Historical data from 2014 to 2021 with CAGR values are also provided for each of these types. The 16-year perspective tables in these categories show the percentage breakdown of value sales for the years 2014, 2023, and 2030 in the regions of USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East, and Africa. Additionally, there are specific tables for the application sectors of CMM, such as "Automotive," "Aerospace," "Heavy Machinery," "Energy & Power," "Electronics," "Medical," and "Other End-Uses." These tables follow the same format, providing independent analysis of annual sales in US$ million for the years 2022 through 2030, along with % CAGR values, and historical data from 2014 to 2021 with CAGR values. The 16-year perspective tables in these categories show the percentage breakdown of value sales for the years 2014, 2023, and 2030 in the regions of USA, Canada, Japan, China, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
No. of Pages
2020 - 2027
Estimated Market Value (USD) in 2020
Forecasted Market Value (USD) by 2027
Compound Annual Growth Rate
Key Topics Covered:1. MARKET OVERVIEW
Recent Market Activity
Future of Coordinate Measuring Machines (CMMs)
Portable CMMs Take Dimensional Measurement Activity from Quality Laboratories onto Production Floor
Quintessential Growth Factors for CMM Market
Higher Levels of Awareness among End-Users
Demand for High Accuracy Devices Drive the Market
Trend towards Miniaturization
Recovery in Global GDP and Outlook for Industrial & Manufacturing Production Promise Stronger Growth for Metrology Equipment and CMMs
Global Market Outlook
Coordinate Measuring Machines (CMM) - Global Key Competitors Percentage Market Share in 2022 (E)
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
2. FOCUS ON SELECT PLAYERS
Accurate Sales & Services Pvt.
Carl Zeiss Industrial Metrology
Chien Wei Precise Technology
Helmel Engineering Products
Sipcon Instrument Industries
3. MARKET TRENDS & DRIVERS
Developing Countries Drive Future Market Growth
Off-Shoring of Manufacturing Activity Boosts Demand for CMM Market in Developing Countries
Automobile Sector Key to Automated CMMs Demand
Upward Trajectory in Automobiles Production Spurs Market Demand
Aerospace & Defense Sector Offers Growth Opportunities for CMM
Advent of Smaller Field-of-View Laser Sensors - A Boon to the Aircraft Industry
Heavy Equipment Industry Promises Bright Prospects
Growing Penetration of CMMs in the Medical Device Sector
Portable CMMs Continue to Rise in Demand
Articulated Arm Machines Market to Grow
Optical CMMs Gain Rapid Popularity
Macro CMMs Steal the Show
Expanding CMM Capabilities Drive Adoption
Software Upgrades and Probes Keep the Market Ticking
Automated CMMs: The New 'It' in Dimensional Metrology
Technology Advancements: Spearheading Growth
Technology Reduces Set-Up Time of Coordinate Measuring Machine
Optical CMM for Automatic Measurement of Small Cast Parts
Rise of Optical Scanners
Emergence of Multi-Axis Industrial Robot
Portable Articulated Arm
Automated Metrology Software
Recent Metrology Software Advancements
CMM Verification Gains Prevalence
4. GLOBAL MARKET PERSPECTIVEFor more information about this report visit https://www.researchandmarkets.com/r/y38r5o
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Global Market for Coordinate Measuring Machines (CMM)ResearchAndMarkets.com'sKey Attributes:Report AttributeDetailsKey Topics Covered:1. MARKET OVERVIEW2. FOCUS ON SELECT PLAYERS3. MARKET TRENDS & DRIVERS4. GLOBAL MARKET PERSPECTIVEAbout ResearchAndMarkets.comAttachment