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Machine Tool Touch Probe Market By Type (3d Touch Probe, 2d Spindle Probes, Tool-Length Measuring Probes, Tool Touch-Off Probes), By Transmission (Infrared, Radio, Hard Wired), By Machine Type (CNC Machining Center, CNC Turning Center, Others), By End-User (Automotive, Defense & Aerospace, Electronics, General Machining, Medical, Petrochemical, Others) - Growth, Future Prospects, And Competitive Landscape, 2019 - 2027

Increasing Developments in the Manufacturing Sector Are Driving the Machine Tool Touch Probe Market

Globally, the machine tool touch probe market is expected to grow with a CAGR of 3.8% during the forecast period from 2019 to 2027, starting from $550.3 Mn in 2018. The touch probes are used to measure the dimensions of the workpiece in a machine tool and are connected to the sensors that enable safe operations of the machines in an industrial setting. This increases the safety of the devices, thus, driving the usage of machine tool touch probes for numerous operations and, thus, increasing its market size. Additionally, increasing penetration of automation in the industrial sector is fueling the growth of the machine tool touch probe market.

In various industrial applications, many operations can be affected by human errors where machine tool touch probes can act as a great alternative. In operations where accuracy has to be a primary concern, the machine tool touch probe can sustain well compared to any human. Furthermore, machine tool touch probe helps in easy verification of the quality of machine parts; hence, they are being largely adopted in various industries. Moreover, machine tool touch probes are in increasing demand in the manufacturing sector based on their advantages, such as robustness, size, reliability, and accuracy.

Market Synopsis

CNC Machining Center Segment Dominated the Global Market

Based on machine type, the CNC machining center dominated the global machine tool touch probe market by holding a market share of over 50% in 2018. This segment is further divided into vertical and horizontal machine centers. Rapid development in the industrial sectors, growing adoption of advanced machinery in the oil and gas and automotive industry, and increasing demand to maintain safety standards are some factors driving the growth of this market. As a result, the horizontal machine center is projected to witness significant growth during the forecast period.

Europe Dominated the Market by Region

Europe held the dominant position in the global machine tool touch probe market. This region held a market share of more than 35% of the global market. Germany held the largest market share in Europe and is projected to witness the fastest growth during the forecast period. As Germany has many automotive manufacturers and developing manufacturing industry, the machine tool touch probe market in this region is expected to grow significantly. However, emerging nations in Asia-Pacific are projected to witness the fastest growth during the forecast period.

Some prominent players operating in the machine tool touch probe market include Renishaw, Hexagon AB, Heidenhain, Marposs, ZEISS, Haff-Schneider, Blum-Novotest GmbH, Harbin Pioneer M&E Technical, OGP, Mahr GmbH, Metrol, Tormach Inc., Centroid CNC, Micro-Vu.

Historical & Forecast Period

This research report presents the analysis of each segment from 2017 to 2027, considering 2018as the base year for the research. In addition, compounded Annual Growth Rate (CAGR) for each respective segment was calculated for the forecast period from 2019 to 2027.

Report Scope by Segments

The machine tool touch probe market report provides market size and estimates based on market dynamics and key trends observed in the industry. In addition, the report provides a holistic view of the global machine tool touch probe market based on type, transmission, machine type, end user, and geography. Key segments covered in the report are as follows:

Segmentation Type Segment (2017–2027; US$ Mn)

  •  3D Touch Probe
  •  2D Spindle Probes
  •  Tool-length Measuring Probes
  •  Tool Touch-off Probes

Transmission Segment (2017–2027; US$ Mn)

  •  Infrared
  •  Radio
  •  Hard Wired

Machine Type Segment (2017–2027; US$ Mn)

  •   CNC Machining Center
  •   Vertical Machining Center
  •   Horizontal Machining Center
  •   CNC Turning Center
  •   Others

End User (2017–2027; US$ Mn)

  •  Automotive
  •  Defense & Aerospace
  •  Electronics
  •  General Machining
  •  Medical
  •  Petrochemical
  •  Others

Geography Segment (2017–2027; US$ Mn)

  •  North America (the U.S., Rest of North America)
  •  Europe (U.K., Germany, France, Rest of Europe)
  •  Asia Pacific (China, Japan, India, Rest of Asia Pacific)
  •  Rest of the World (the Middle East & Africa, Latin America)

Unique data points of this report

  • Statistics on machine tool touch probe penetration and spending worldwide
  • Recent trends across different regions in terms of adoption of machine tool touch probes for various end users.
  • Notable developments going on in the machine tool touch probe market
  • Attractive investment proposition for segments as well as geography
  • Comparative scenario for all the segments for years 2018 (actual) and 2027 (forecast)

Frequently asked questions :

The market for Machine Tool Touch Probe Market is expected to reach US$ XX Bn by 2027.

The Machine Tool Touch Probe Market is expected to see significant CAGR growth over the coming years, at 3.8%.

The report is forecasted from 2018-2027.

The base year of this report is 2021.

Renishaw, Hexagon AB, Heidenhain, Marposs, ZEISS are some of the major players in the global market.

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Executive Summary - Brief Global Market Size - Current & Forecast
Regional Market Size - North America
Country Market Size - US
Company Profile – 1
Trusted By
Godaddy
Published Date:  Oct 2019
Category:  Automation & Process Control
Report ID:   59984
Report Format:   PDF
Pages:   120
Rating:    4.3 (66)
Delivery Time: 24 Hours to 48 Hours   
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