Machine Tool Touch Probe Market

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

About the Report

The demand for machine tool touch probes has grown alongside the growing trend of increasing mechanisation across nearly all industry verticals. The key driver for this trend of mechanisation is the need for precision and speed, which can significantly enhance industrial productivity and reduce wastage.

On the other hand, nearly all industries have witnessed disruptions since the start of 2020 and several of them continue to reel under the severe economic ramifications of the Covid-19 pandemic. This in turn has had a negative impact on sales of machine tool touch probes as well.

However, while the overall impact of the Covid-19 pandemic on sales of machine tool touch probes has been negative, the effect has not been uniform across all industrial sectors.

Sales of machine tool touch probes have actually increased in end-user industries such as healthcare and research. At the same time, the increase in demand by certain select segments has not been able to offset the drop in demand by other key segments such as manufacturing and aviation. This has significantly changed the market’s landscape from pre-pandemic times.

Going forward, it appears that that the recovery of several key end-user industries is imminent. Besides this, certain shifts in consumption patterns of machine tool touch probes are also likely to endure over the coming years.

Key manufacturers and other market players will hence need to adapt to these shifts and account for the expected recovery in demand. Additionally, they will also have to account for ongoing regional shifts being witnessed by the market. All these factors are resulting in the market being more dynamic than ever before.

Introduction

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 total incremental $ opportunity of US$ 218.0 Mn between 2018 and 2028.

Factors Influencing the Global Demand for Machine Tool Touch Probes

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 sales of machine tool touch probes 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 players involved in machine tool touch probes.

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 market is consolidated with the presence of a few players across the globe, key manufacturers are focusing on technological innovation to meet consumer needs.

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, global machine tool touch probes 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.

Analysis by Machine Type

By machine type, the CNC machining center segment is expected to dominate sales of machine tool touch probes 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 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.

Analysis by Region

From a region perspective, Western and Eastern European regions collectively account for highest sales of machine tool touch probes 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 of global machine tool touch probes. The country is the largest consumer of machine tool touch probes in the global market.

Key Segments Covered

Probe Type

  • 3D Touch Probes
  • 2D Spindle Probes
  • Tool-length Measuring Probes
  • Tool Touch-off Probes

Transmission

  • Infrared
  • Radio
  • Hard Wired

Machine Type

  • CNC Machining Center
  • VMC
  • HMC
  • CNC Turning Center
  • Others

End Use

  • Automotive
  • Defense & Aerospace
  • Electronic
  • General Machining
  • Medical
  • Petrochemical
  • Others

Region

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • SEA & Pacific
  • China
  • MEA

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Machine Tool Touch Probe Market