Coordinate Measuring Machine Market to Register Exponential Compound Annual Growth Rate Through 2026
Global Coordinate Measuring Machine Market (CMM) was valued US$ 2.5Bn in 2017 and expected to reach US$ 5.3Bn in 2026, at CAGR of 9.85% during forecast period.
Coordinate Measuring Machine Market (CMM) is a very flexible measuring device with its measurement limitation typically only constrained by physical size, accuracy grade and probing configuration. The global installed base of coordinate measuring machines is projected at around 150,000 units. The typical air bearing CMM structure rarely wears out and can be easily upgraded with new electronics and software extending life hope by another 10 years.
Driving factor of global CMM market is accurate dimensions can be obtained just by knowing the coordinates and distance in the middle of the two reference points. A market requires less labour. CMM has high precision and accuracy. Some of the restraint in the market is coordinate measuring machines are very costly. And the CMMs are less portable. A market needs to construct some feature on its own as some parts of the work piece are unreachable by the probe.
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The challenges faced by market is the availability of a wide variety of coordinate measuring machines through the market, which makes it difficult for end-users to make a choice. Increasing demand for coordinate measuring machine services is the opportunity of the CMM market.
Quality control and inspection applications are leading the global CMM market in 2017. To ensure the highest quality and exactness. Coordinate measuring machine, for measuring the physical geometrical characteristics of a part to test it compared to the design intent. Coordinate measuring machine market (CMM) ensures that accuracy and control are maintained. Data is available at all times to refine the manufacturing process and to paint a reliable picture of each product.
Automotive industry to hold the largest share of the CMM market during the forecast period. The automotive industry has been progressively using optical measurement systems and CMMs, as an alternative to conventional strain gauges, accelerometers, transducers, and extensometers for improving the safety and comfort level of a vehicle.
Region-wise, Asia Pacific to hold the largest share of the CMM market in 2018 and is expected to grow at the highest CAGR throughout the forecast period. This high growth of APAC is expected to be led by the growing demand for CMMs in China and Japan, especially for industries such as electronics, automotive, and heavy machinery.
Key players operating in the global CMM market, Hexagon AB (Sweden), Faro Technologies (US), Nikon Corporation (Japan), Keyence Corporation (Japan), Carl Zeiss (Germany), Mitutoyo Corporation (Japan), GOM (Germany), Perceptron (US), Creaform, Inc. (Canada), International Metrology Systems (UK), Metronor (Nesbru), Trimek (Spain), Applied Automation Tech (US), Wenzel (Germany), N. J. Metrology (UK), Avon-Dynamic (UK), Eley Metrology Limited (UK), The Sempre Group (UK), Apex Metrology Ltd (UK), and Tokyo Seimitsu Co., Ltd. (Japan), Helmel Engg.
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Scope of the Global Coordinate Measuring Machine Market (CMM)
Global Coordinate Measuring Machine Market (CMM), by Type
Bridge
Cantilever
Articulated Arm
Handheld
Global Coordinate Measuring Machine Market (CMM), by Application
Quality Control & Inspection
Reverse Engineering
Global Coordinate Measuring Machine Market (CMM), by Industry
Automotive
Heavy Machinery
Global Coordinate Measuring Machine Market (CMM), by Region
North America
Europe
Asia Pacific
Middle East and Africa
South America
Key players operating in the Global Coordinate Measuring Machine Market (CMM)
Hexagon AB (Sweden)
Faro Technologies (US)
Nikon Corporation (Japan)
Keyence Corporation (Japan)
Carl Zeiss (Germany)
Mitutoyo Corporation (Japan)
GOM (Germany), Perceptron (US)
Creaform, Inc. (Canada)
International Metrology Systems (UK)
Metronor (Nesbru)
Trimek (Spain)
Applied Automation Tech (US)
Wenzel (Germany)
N. J. Metrology (UK)
Avon-Dynamic (UK)
Eley Metrology Limited (UK)
The Sempre Group (UK)
Apex Metrology Ltd (UK)
Tokyo Seimitsu Co., Ltd.
Helmel Engg.
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