Global machine tool touch probe market to grow with a year on year growth of 3.6% in 2022 reaching a value of about US$615.1 Mn by 2022 end. Machine tool touch probe is significantly used for fast, precise and automatic tool setting and workpiece measurement in grinding, turning and milling. It has the potential to cut setup time while enhancing dimensional accuracy. The global market is expected to witness a considerable value of CAGR of 3.5% during the perioT of 2022 and 2028.
Request for a Sample: https://www.futuremarketinsights.com/reports/sample/rep-gb-6317
FMI has identified North America to remain a key market for machine tool touch probes over the forecast period owing to increasing demand from end-use applications. The region is estimated to witness a value of CAGR of 3.8% in the industry of machine tool touch probe. The global machine tool touch probe market is expected to account for about 1.3% of the global machine tool market.
2016-2021 Global Machine Tool Touch Probe Market Outlook Compared to 2022-2028 Forecast
With the rise of automation and the use of advanced equipment in manufacturing and healthcare, the need for machine tool touch probes is expected to expand soon. As a result, the global machine tool touch probe market is predicted to grow throughout the forecast period because of the increasing growth of related. Growing research and development activities are speeding up the market growth of the machine tool touch probe market soon.
The need to decrease production cycle time in the automotive industry and increase precision results in the growing demand for machine tool touch probes. As the sales are supported by stable demand in North America and Western Europe and continued but slower growth in emerging markets, especially the Middle East & Africa.
The demand outlook for machine tool touch probes between 2013 and 2021 remains at 2.9% as the pandemic crisis has affected the market. The high initial cost and lack of professional labour causes the decrement in the demand for a probe in various end-use sectors has affected the market growth.
The growth of machine tool touch probe is likely to grow at a growth rate of 3.1% by Volume over the assessment period of 2022-2028.
Global Machine Tool Touch Probe Market Dynamics
Machine tool touch probes can operate in conditions in which humans cannot sustain themselves or in conditions in which humans cannot operate optimally, such as when accuracy is the primary factor.
Due to this reason, machine tool touch probes have been in high demand in the manufacturing industry in the global market. 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 for only a number of limited hours whereas machines and their components are capable of working continuously.
Growth in research and development activities by prominent market participants is estimated to create several growth opportunities for the machine tool touch probe market in the coming future. Increasing demand and competition will encourage manufacturers to invest on research and development. This is expected to further create opportunities for the augmentation of the machine tool touch probes market in the coming years.
For critical insights on this market, request to ask an expert here:
https://www.futuremarketinsights.com/ask-question/rep-gb-6317
However, the lack of skilled professionals for the operation and maintenance of machine tool touch probes may hamper the growth of the machine tool touch probe market over the forecast period. Moreover, the initial cost associated with the machine tool touch probes is on the higher side. This may be one of the prime reasons which may derail the growth of the machine tool touch probes market over the forecast period.
Global Machine Tool Touch Probe Market by Category
By Probe Type
- 3D Touch Probe
- 2D Spindle Probes
- Tool-length Measuring Probes
- Tool Touch-off Probes
By Transmission
- Infrared
- Radio
- Hard Wired
By Machine Type
- CNC Machining Center
- Vertical Machining Center
- Horizontal Machining Center
- CNC Turning Center
- Others
By End Use
- Automotive
- Defense & Aerospace
- Electronics
- General Machining
- Medical
- Petrochemical
- Others
By Region
- North America
- Western Europe
- Eastern Europe
- Latin America
- SEA & Pacific
- China
- Middle East & Africa
About Future Market Insights (FMI)
Future Market Insights (ESOMAR certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favour the market growth in various segments based on Source, Application, Sales Channel and End-Use over the next 10-years.
Contact:
Future Market Insights,
Unit No: 1602-006
Jumeirah Bay 2
Plot No: JLT-PH2-X2A
Jumeirah Lakes Towers
Dubai
United Arab Emirates