DUBLIN--(BUSINESS WIRE)--The "Coordinate Measuring Machines (CMM) - Global Market Trajectory & Analytics" report has been added to ResearchAndMarkets.com's offering.
Amid the COVID-19 crisis, the global market for Coordinate Measuring Machines (CMM) estimated at US$2.8 Billion in the year 2020, is projected to reach a revised size of US$4.1 Billion by 2027, growing at a CAGR of 5.3% over the analysis period 2020-2027.
Bridge-Type Machine, one of the segments analyzed in the report, is projected to record a 5.5% CAGR and reach US$2.3 Billion by the end of the analysis period. After an early analysis of the business implications of the pandemic and its induced economic crisis, growth in the Articulated-Arm Machine segment is readjusted to a revised 5.7% CAGR for the next 7-year period.
The U.S. Market is Estimated at $771 Million, While China is Forecast to Grow at 8.2% CAGR
The Coordinate Measuring Machines (CMM) market in the U.S. is estimated at US$771 Million in the year 2020. China, the world's second largest economy, is forecast to reach a projected market size of US$852.2 Million by the year 2027 trailing a CAGR of 8.2% over the analysis period 2020 to 2027. Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 2.9% and 4.8% respectively over the 2020-2027 period. Within Europe, Germany is forecast to grow at approximately 3.3% CAGR.
Horizontal-Arm Machine Segment to Record 5% CAGR
In the global Horizontal-Arm Machine segment, USA, Canada, Japan, China and Europe will drive the 4.5% CAGR estimated for this segment. These regional markets accounting for a combined market size of US$340.5 Million in the year 2020 will reach a projected size of US$463.8 Million by the close of the analysis period. China will remain among the fastest growing in this cluster of regional markets. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$548 Million by the year 2027, while Latin America will expand at a 6% CAGR through the analysis period.
Select Competitors (Total 58 Featured):
- Accurate Sales & Services Pvt. Ltd.
- Carl Zeiss Industrial Metrology LLC
- Chien Wei Precise Technology Co. Ltd.
- Dukin Co., Ltd.
- FARO Technologies, Inc.
- Helmel Engineering Products, Inc.
- Hexagon AB
- INSPECT 3D
- ITP Group
- Metrologic Group S.A
- Metronor AS
- Mitutoyo Corp.
- Nikon Metrology NV
- Renishaw plc.
- Sipcon Instrument Industries
- Tarus Products Inc.
- Trimek
Key Topics Covered:
I. METHODOLOGY
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
- Influencer Market Insights
- World Market Trajectories
- A Prelude
- Recent Market Activity
- Future of Coordinate Measuring Machines (CMMs)
- Portable CMMs Take Dimensional Measurement Activity from Quality Laboratories onto Production Floor
- Quintessential Growth Factors for CMM Market
- Higher Levels of Awareness among End-Users
- Demand for High Accuracy Devices Drive the Market
- Trend towards Miniaturization
- Recovery in Global GDP and Outlook for Industrial & Manufacturing Production Promise Stronger Growth for Metrology Equipment and CMMs
- Global Market Outlook
- Impact of Covid-19 and a Looming Global Recession
2. FOCUS ON SELECT PLAYERS
3. MARKET TRENDS & DRIVERS
- Developing Countries Drive Future Market Growth
- Off-Shoring of Manufacturing Activity Boosts Demand for CMM Market in Developing Countries
- Automobile Sector Key to Automated CMMs Demand
- Upward Trajectory in Automobiles Production Spurs Market Demand
- Aerospace & Defense Sector Offers Growth Opportunities for CMM
- Advent of Smaller Field-of-View Laser Sensors - A Boon to the Aircraft Industry
- Heavy Equipment Industry Promises Bright Prospects
- Growing Penetration of CMMs in the Medical Device Sector
- Portable CMMs Continue to Rise in Demand
- Articulated Arm Machines Market to Grow
- Optical CMMs Gain Rapid Popularity
- Macro CMMs Steal the Show
- Expanding CMM Capabilities Drive Adoption
- Software Upgrades and Probes Keep the Market Ticking
- Automated CMMs: The New 'It' in Dimensional Metrology
- Technology Advancements: Spearhead Growth
- Technology Reduces Set-Up Time of Coordinate Measuring Machine
- Optical CMM for Automatic Measurement of Small Cast Parts
- Rise of Optical Scanners
- Emergence of Multi-Axis Industrial Robot
- Portable Articulated Arm
- On-Machine Probing
- Comparative Gauging
- Automated Metrology Software
- Recent Metrology Software Advancements
- CMM Verification Gains Prevalence
- Market Challenges
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
IV. COMPETITION
For more information about this report visit https://www.researchandmarkets.com/r/xwn66h
