Market Analysis
Global Coordinate Measuring Machine Market is expected to reach USD 3,627.14 million by 2025 and is projected to register a healthy CAGR in the forecast period 2018 to 2025. The new market report contains data for historic years 2016, the base year of calculation is 2017 and the forecast period is 2018 to 2025.
There is increase in applications for measurement and inspection in automobile sector and there is growing focus in quality standard which is improving the growth of the market. On the other hand lack of skilled labour and high initial cost of the setup is hampering the growth of market.
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Market Segmentation
• The global coordinate measuring machine market is segmented on the basis of product into horizontal arm, gantry, bridge, articulated arm and cantilever. In 2018, horizontal arm is expected to dominate the coordinate measuring machine market with 39.8% market share growing at the highest CAGR in the forecast period 2018 to 2025.
• The global coordinate measuring machine market is segmented on the basis of Components into machine structure, linear measurement transducers, probe system computer hardware and software. In 2018, machine structure is expected to dominate the coordinate measuring machine market with highest market share 56.7% and is growing at a healthy CAGR in the forecast period 2018 to 2025. However, probe system segment is expected to grow at the highest CAGR in the forecast period.
• The global coordinate measuring machine market is segmented on the basis of Industry into automotive, aerospace, electronics and electrical, energy and power, military and others. In 2018, automotive segment is expected to dominate the coordinate measuring machine market in the forecast period 2018 to 2025. However, electronics and electrical segment is expected to grow at the highest CAGR and was valued at USD 690.14 million in 2025.
• The global coordinate measuring machine market is segmented on the basis of type of bearing into air bearings, roller bearings, recirculating bearing packs. In 2018, air bearings is expected to dominate the coordinate measuring machine market with highest market share and is growing at a healthy CAGR in the forecast period 2018 to 2025.
• The global coordinate measuring machine market is highly fragmented and the major players have used various strategies such as new product launches, expansions, agreements, joint ventures, partnerships, acquisitions, and others to increase their footprints in this market
• Based on geography, the market is segmented into 5 geographical regions, North America, Europe, Asia-Pacific, South America and Middle East and Africa.
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Key Drivers
Some of the major factors driving the market for global coordinate measuring machine market are growing use of coordinate measuring machine to comply with stringent regulatory requirements, rising need for adoption of coordinate measuring machine for various application and technological advancements in coordinate measuring machine services.
High cost of coordinate measuring machine product and services and lack of integration standards for coordinate measuring machine are hampering the growth of the market.
Key Points
HEXAGON is going to dominate the global coordinate measuring machine market followed by Mitutoyo Corporation, Carl Zeiss AG., Nikon Corporation and FARO Technologies, Inc.
The Horizontal arm segment is dominating the global coordinate measuring machine market.
Electronics and electrical segment is expected to grow with the highest CAGR of 8.3% in the forecast period 2018 to 2025.
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