DUBLIN, October 22, 2021--(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.
Metrologic Group S.A
Nikon Metrology NV
Sipcon Instrument Industries
Tarus Products Inc.
Key Topics Covered:
II. EXECUTIVE SUMMARY
1. MARKET OVERVIEW
Influencer Market Insights
World Market Trajectories
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
Automated Metrology Software
Recent Metrology Software Advancements
CMM Verification Gains Prevalence
4. GLOBAL MARKET PERSPECTIVE
III. MARKET ANALYSIS
For more information about this report visit https://www.researchandmarkets.com/r/xwn66h
View source version on businesswire.com: https://www.businesswire.com/news/home/20211022005426/en/
Laura Wood, Senior Press Manager
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