Increasing Developments in the Manufacturing Sector Is 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 work piece in a machine tool, and are connected to the sensors that enables safe operations of the machines in industrial setting. This increases the safety of the machines, thus, drives the usage of machine tool touch probe for numerous operations, and thus, increases its market size. Additionally, increasing penetration of automation in industrial sector is also fueling the growth of machine tool touch probe market.
In various industrial applications, many operations can be affected by human errors where machine tool touch probe can act as a great alternative. In operations where accuracy has to be a primary concerns, 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, are being largely adopted in various industries. Moreover, machine tool touch probes are in increasing demand in the manufacturing sector based on the advantages associated with it, such as robustness, size, reliability, and accuracy.
Market Synopsis
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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 center. Rapid development in the industrial sectors, growing adoption of advanced machinery in oil and gas, and automotive industry, and increasing demand to maintain safety standards are some factors driving the growth of this market. The horizontal machine center is projected to witness a significant growth during the forecast period.
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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. In Europe, Germany held a largest market share and is also projected to witness a fastest growth during the forecast period. As Germany has large number of automotive manufacturers, and developing manufacturing industry, the machine tool touch probe market in this region is expected to grow at a significant pace. However, emerging nations in Asia-Pacific are projected to witness a fastest growth during the forecast period.
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Some of the 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 2018 as the base year for the research. Compounded Annual Growth Rate (CAGR) for each respective segment 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. The report provides a holistic view of 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:
| ATTRIBUTE |
DETAILS |
| Research Period |
2017-2027 |
| Base Year |
2018 |
| Forecast Period |
2019-2027 |
| Historical Year |
2017 |
| Unit |
USD Million |
| 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
o Vertical Machining Center
o 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 (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 (Middle East & Africa, Latin America)
|
Key questions answered in this report
- What was the market size of machine tool touch probe in 2018 and forecast up to 2027?
- Which is the largest regional market for types of machine tool touch probe?
- What are the major trends followed in machine tool touch probe market across different regions?
- Who is the key machine tool touch probe companies leading the market?
- What are the key strategies adopted by the leading machine tool touch probe companies in market?
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 probe for various end users.
- Notable developments going on in 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)
