Selbyville, Delaware,, Sept. 12, 2024 (GLOBE NEWSWIRE) --
The coordinate measuring machine market is predicted to exceed USD 8 billion by 2032, as reported in a research study by Global Market Insights Inc. This significant growth reflects a compound annual growth rate (CAGR) driven by ongoing advancements in CMM technology, increasing industrial automation, and rising demand for precision measurement across diverse sectors. The market is expected to see accelerated expansion due to technological innovations, heightened accuracy requirements, and broader application areas, particularly in high-tech manufacturing and quality control processes. Rising product launches and showcasing from leading companies lead to market growth.
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The coordinate measuring machine market from the gantry CMM segment will be a significant driver of market growth. Gantry CMMs, known for their robust and precise measurement capabilities, are extensively used in large-scale applications requiring high accuracy. Their ability to handle substantial and heavy components makes them ideal for industries such as aerospace and automotive. As manufacturing processes become increasingly complex, the demand for gantry CMMs is set to rise, driving overall market growth.
The energy and power sector will witness notable growth in the coordinate measuring machine market. Coordinate measuring machines is crucial in ensuring the precision and quality of components used in power generation and distribution. With the increasing emphasis on maintaining high standards in energy infrastructure, the demand for CMMs in this sector is growing. Applications in turbine manufacturing, power plant maintenance, and infrastructure projects highlight the vital role of CMMs in the energy and power industry, propelling market expansion.
Europe will exhibit substantial growth in the coordinate measuring machine market from 2024 to 2032. The region's strong focus on technological innovation and advanced manufacturing practices contributes to this growth. Countries like Germany, France, and the UK are leading the way with significant investments in precision engineering and manufacturing. Government initiatives and substantial R&D activities in Europe further support market growth, reinforcing the region's pivotal role in the global coordinate measuring machine industry.
Leading players in the CMM market include KEYENCE CORPORATION, Hexagon AB, ZEISS, FARO, Perceptron, Inc., Sinowon Innovation Metrology Manufacture Limited, and Nikon Corporation.
The coordinate measuring machine market is experiencing robust demand driven by key industry players like Hexagon AB and ZEISS, who are advancing CMM technology and expanding their product portfolios. Innovations from companies such as KEYENCE CORPORATION and Nikon Corporation, focusing on precision and automation, are addressing increasing industrial needs for accurate measurement and quality control, fueling market growth.
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Partial chapters of report table of contents (TOC):
Report Content
Chapter 1 Scope & Methodology
1.1 Market scope & definition
1.2 Base estimates & calculations
1.3 Forecast parameters
1.4 Data sources
1.4.1 Primary
1.4.2 Secondary
1.4.2.1 Paid sources
1.4.2.2 Public sources
Chapter 2 Executive Summary
2.1 Industry 360º synopsis, 2018 - 2032
2.2 Business trends
2.2.1 Total addressable market (TAM), 2024-2032
Chapter 3 Industry Insights
3.1 Industry ecosystem analysis
3.2 Vendor matrix
3.3 Technology & innovation landscape
3.4 Patent analysis
3.5 Key news and initiatives
3.6 Regulatory landscape
3.7 Impact forces
3.7.1 Growth drivers
3.7.1.1 Increasing demand for precision manufacturing
3.7.1.2 Technological advancements and rise in automation
3.7.1.3 Growing adoption of Industry 4.0 principles
3.7.1.4 Growing focus on quality assurance and compliance
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About Global Market Insights Inc.
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
