Machine Tool Touch Probe Market: Increasing Requirement for Reducing Production Time to Drive Revenue Growth: Global Industry Analysis 2013 - 2017 and Opportunity Assessment 2018 - 2028
- REP-GB-6317
- 2018-08-07
- Category: Industrial Automation & Equipment
- 341 Pages
- Format:
A machine tool touch probe is a high precision device used for determining the size of tool, work piece and location of job located within HMC, CNC and VMC machines. These devices are used for accurate and precise dimensioning purposes.
The global machine tool touch probe market is estimated to be valued at US$ 538.3 Mn by 2018. The market is estimated to grow by a value CAGR of 3.5% over the forecast period. Moreover, the machine tool touch probe market is expected to create a total incremental $ opportunity of US$ 218.0 Mn between 2018 and 2028.
Factors Influencing the Global Machine Tool Touch Probe Market Growth
Manual measurement of work pieces is being replaced by machine tool touch probes as they reduce any chances of inaccuracy and also increase the potential for accurate workflows. This particular factor will accelerate the growth of the machine tool touch probe market over the forecast period. Moreover, human personnel can work only for a number of limited hours whereas machines and their components are capable of working continuously.
The market is becoming healthy for competition and this is a positive factor for the overall machine tool touch probe market. Growing automation and use of advanced technology during the manufacturing and construction of machine tool touch probes have further increased market attractiveness among consumers and various industries.
As the machine tool touch probe market is consolidated with the presence of a few players across the globe, key manufacturers are focusing on technological innovation to meet consumer needs.
Global Machine Tool Touch Probe Market Segmentation and Forecast
The global machine tool touch probe market has been segmented on the basis of transmission, probe type, machine type, end use and region. Based on transmission, the market has been segmented into infrared, radio and hard wired. On the basis of probe type, the global machine tool touch probe market has been segmented into 3D touch probes, 2D spindle probes, tool-length measuring probes and tool touch-off probes. On the basis of machine type, the market has been segmented into CNC machining center, CNC turning center and others. Based on end use, the market has been segmented into automotive, defense & aerospace, electronic, general machining, medical, petrochemical and others. Significant regions covered in the report include North America, Latin America, Western Europe, Eastern Europe, SEA & Pacific, China and Middle East & Africa.
Global Machine Tool Touch Probe Market Analysis by Machine Type
By machine type, the CNC machining center segment is expected to dominate the machine tool touch probe market throughout the forecast period. Further, CNC turning centers and others segments nearly account for more than 49% of the overall market share in the global market. The CNC machining center segment has been further segmented into vertical machine center and horizontal machine center. Among which, the horizontal machine center segment is expected to dominate the machine tool touch probe market throughout the forecast period. Furthermore, the vertical machine center segment is expected to create a total incremental $ opportunity of nearly US$ 35.6 Mn over the forecast period.
Global Machine Tool Touch Probe Market Analysis by Region
From a region perspective, Western and Eastern European regions collectively dominate the machine tool touch probe market over the forecast period, which can be attributed to the developed market characteristics in developed economies such as Germany and Italy. Germany has several manufacturers of machine tool touch probes and the country is the largest machine tool touch probe producer across the globe. Germany, followed by Italy, comes under the top 10 machine tool touch probe producing countries. Furthermore, China is also estimated to grow at a significant rate over the forecast period. China ranks first in terms of production and consumption in the global machine tool touch probe market. The country is the largest consumer of machine tool touch probes in the global market.
Future Market Insights (FMI) analyzes the machine tool touch probe market in its new publication titled “Machine Tool Touch Probe Market: Global Industry Analysis 2013–2017 and Opportunity Assessment 2018–2028”. This study provides data for 2018 along with a forecast for the period 2018–2028. The main objective of the report is to identify dynamics in the machine tool touch probe market and provide recent updates and insights affecting various segments of the global machine tool touch probe market. To provide a better understanding of the machine tool touch probe market, the report also includes the analysis of drivers, restraints and trends on all six regions/country, namely North America, Latin America, Western Europe, Eastern Europe, SEA & Pacific, China and MEA, which influence the current market scenario and future status of the global machine tool touch probe market over the forecast period.
|
Probe Type |
Transmission |
Machine Type |
|---|---|---|
|
|
|
|
End Use |
Region |
|
|
|
|
To understand and assess market opportunities and trends, the global machine tool touch probe market report is categorically split into different sections based on market segmentation by probe type, by transmission, by machine type, by end use and by region. The report starts with the machine tool touch probe market overview and provides market definition and taxonomy along with value chain, pricing analysis, drivers, restraints, and trends in the market. The sections that follow include global machine tool touch probe market analysis by probe type, by transmission, by machine type, by end use and by region level analysis. All the above sections evaluate the market on the basis of various factors affecting the machine tool touch probe market. Each section discusses the qualitative and quantitative aspects of the global machine tool touch probe market. To give a brief idea about revenue opportunities from the segments by probe type, transmission, machine type, end use and region, the report also provides market value, absolute $ opportunity and total incremental opportunity for each segment over the forecast period (2018 – 2028).
In the final section of the report, we have provided the global machine tool touch probe market structure and a detailed competition landscape with company market share and performance to provide report audiences with a dashboard view of key players operating in the global market along with their business strategies. This would enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly.
Research Methodology
For market data analysis, we have considered 2017 as the base year with market numbers estimated for 2018 and forecast made for 2018–2028. To calculate the market size, the report considers the weighted average price of machine tool touch probes based on probe type such as 3D touch probes, 2d spindle probes, tool-length measuring probes and tool touch-off probes across key geographies on a country basis. The forecast assesses the total revenue (US$ Mn) and Volume (Units) of the global machine tool touch probe market. To deduce machine tool touch probe market value size, the cost of each probe type has been considered. In order to provide an accurate forecast, we have started by sizing up the current market, which forms the basis of how the global machine tool touch probe market is expected to develop in the future. The critical market data, including the base number and segment splits, has been devised through in-depth secondary and primary research. This data is then triangulated on the basis of different verticals, considering both supply side and demand side drivers and other dynamics of the various regional markets, along with primary interviews of manufacturers and industry experts operating in the global machine tool touch probe market. The forecast presented in the report evaluates the actual probe types, cost of machine tool touch probe and cost by brands in the global machine tool touch probe market over the forecast period.
We have also analyzed the different segments of the global machine tool touch probe market in terms of basis point share (BPS) to understand individual segments’ relative contribution to market growth. This detailed level of information is important for identifying the various key trends governing the global machine tool touch probe market. The report also analyses the global machine tool touch probe market based on the absolute dollar opportunity. This is usually overlooked while estimating the market forecast. However, from a sales perspective, the absolute dollar opportunity is essential to identify potential resources in the machine tool touch probe market.
FMI has developed a market attractiveness index to understand the key segments in terms of their performance and growth in the global machine tool touch probe market. This market attractiveness index helps clients identify real market opportunities in the global machine tool touch probe market. Moreover, intensity mapping for key manufacturers is also provided for the global machine tool touch probe market. Emphasis on tracking the value chain of the machine tool touch probe market is given in order to track the developments of the market.
Analyst Pick
Small and Consolidated Machine Tool Touch Probe Market
The global machine tool touch probe market is consolidated in nature with only a few players occupying a significant share of the overall market. This can be attributed to the high investment cost associated with the manufacturing of machine tool touch probes. The final report on the global machine tool touch probe market is a milieu of crucial information fetched through extensive research. The primary and secondary research played a crucial part in gauging the evolving machine tool touch probe market behavior within the forecast period. The market for machine tool touch probes is dependent on various factors such as manufacturing industry growth, industrialization, urbanization and population & employment growth rate across the globe. Moreover, the superior qualities of machine tool touch probes make it popular among consumers present in the global market. However, the higher initial cost of machine tool touch probes can have a negative impact on the growth of the machine tool touch probes market.