Global Coordinate Measuring Machine Market, 2017-2024 – Industry Survey, Market Size, Competitive Trends: Data Bridge Market Research
Market Analysis
Global
Coordinate Measuring Machine Market is expected to reach USD 3,627.14
million by 2025 and is projected to register a healthy CAGR in the forecast
period 2018 to 2025. The new market report contains data for historic years
2016, the base year of calculation is 2017 and the forecast period is 2018 to
2025.
There is increase in applications
for measurement and inspection in automobile sector and there is growing focus
in quality standard which is improving the growth of the market. On the other
hand lack of skilled labour and high initial cost of the setup is hampering the
growth of market.
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Market Segmentation
·
The global coordinate measuring machine market
is segmented on the basis of product into horizontal arm, gantry, bridge,
articulated arm and cantilever. In 2018, horizontal arm is expected to dominate
the coordinate measuring machine market with 39.8% market share growing at the
highest CAGR in the forecast period 2018 to 2025.
·
The global coordinate measuring machine market
is segmented on the basis of Components into machine structure, linear
measurement transducers, probe system computer hardware and software. In 2018,
machine structure is expected to dominate the coordinate measuring machine
market with highest market share 56.7% and is growing at a healthy CAGR in the
forecast period 2018 to 2025. However, probe system segment is expected to grow
at the highest CAGR in the forecast period.
·
The global coordinate measuring machine market
is segmented on the basis of Industry into automotive, aerospace, electronics
and electrical, energy and power, military and others. In 2018, automotive
segment is expected to dominate the coordinate measuring machine market in the
forecast period 2018 to 2025. However, electronics and electrical segment is
expected to grow at the highest CAGR and was valued at USD 690.14 million in
2025.
·
The global coordinate measuring machine market
is segmented on the basis of type of bearing into air bearings, roller bearings,
recirculating bearing packs. In 2018, air bearings is expected to dominate the
coordinate measuring machine market with highest market share and is growing at
a healthy CAGR in the forecast period 2018 to 2025.
·
The global coordinate measuring machine market
is highly fragmented and the major players have used various strategies such as
new product launches, expansions, agreements, joint ventures, partnerships,
acquisitions, and others to increase their footprints in this market
·
Based on geography, the market is segmented into
5 geographical regions, North America, Europe, Asia-Pacific, South America and
Middle East and Africa.
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Key Drivers
Some of the major factors driving
the market for global coordinate measuring machine market are growing use of
coordinate measuring machine to comply with stringent regulatory requirements,
rising need for adoption of coordinate measuring machine for various
application and technological advancements in coordinate measuring machine
services.
High cost of coordinate measuring
machine product and services and lack of integration standards for coordinate
measuring machine are hampering the growth of the market.
Key Points
HEXAGON is going to dominate the
global coordinate measuring machine market followed by Mitutoyo Corporation,
Carl Zeiss AG., Nikon Corporation and FARO Technologies, Inc.
The Horizontal arm segment is
dominating the global coordinate measuring machine market.
Electronics and electrical
segment is expected to grow with the highest CAGR of 8.3% in the forecast
period 2018 to 2025.
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