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.
