Global (CMM) Market to Exceed $5 Billion by 2018
Bridge CMM dominates the global Coordinate Measuring Machines (CMM) market. Meanwhile, articulated arm machines are gradually branching out from their traditional end-use sectors (automotive, aerospace, military, and machine shops) to newer markets. These devices are preferred due to their light-weight and flexibility offered by multi-axis arms in measuring parameters that are beyond the reach of fixed CMM configurations. The market has lately been witnessing an increasing demand for Portable CMM (PCMM), driven by the growing scope from the semiconductor and mechatronics industries, as well as industries that make use of digitizing and reverse engineering applications. Mid-range models constitute the bulk of the market. The automotive and aerospace industries are the largest end-use sectors for premium articulated arm products.
Price continues to be a crucial competitive factor in the machine tool and metalworking equipment market, since purchase of an industrial system demands substantial investment. Although technological advancements are prompting consumers to upgrade to higher-end CMM models, the downward pressure on prices is driving manufacturers to shave off redundant costs and tone up the efficiency of these devices. Increasing number of companies are opting for immediate upgrade of existing machines with novel software, as it considerably saves upon the unnecessary expenditure. The OEMs and independent software vendors of CMM are offering dedicated software solutions along with the equipment in a bid to differentiate their offerings from the multitude of products available in the highly-fragmented and fiercely competitive market. Increasing demand for CMM associated services such as delivery, software upgrades, installation of the machine, calibration, retrofitting and repairing, has provided the much needed impetus to the CMM industry, reflecting scope for further market expansion. In addition, sensor technologies are being refined to address the growing miniaturization trends in the industry. OEMs are designing rugged CMM to withstand thermal fluctuations as well as exposure to contaminants present in the shop atmosphere. The advent of compact devices integrated with scanning capabilities and cutting-edge multiple probe and sensor technologies are boosting the consumer uptake of CMM. A significant upswing in the economic outlook is also expected to reinvigorate R&D expenditure in the industry.
The Asia-Pacific market, spurred by intense activity in China, represents the single-largest region for the CMM market, as stated by the new market research report on Coordinate Measuring Machines. The Asia-Pacific also emerges as the most promising global market for CMM, surging ahead at a sound CAGR of 11.3% through 2018. Asian vendors who offered strong price competition to established industry players in the recent term are now catching up in terms of product quality. Global market for CMM is characterized by the presence of a few yet strong players, together accounting for over 70% of the market space. As the industry becomes more globalized, international players are anticipated to grow organically as well as through strategic mergers and acquisitions to tap the potential of emerging markets in order to offset the sluggishness of western markets.
Key players profiled in the report include Carl Zeiss Industrial Metrology, Chien Wei Precise Technology Co. Ltd., Dukin Co. Ltd., FARO Technologies Inc., Helmel Engineering Products Inc., Hexagon AB, Hexagon Metrology Inc., ITP Group, Inspect3D, International Metrology Systems Ltd., Metrologic Group SA, Metronor AS, Mitutoyo Corp., Nikon Metrology NV, Renishaw Plc., Tarus Products Inc., Trimek, WENZEL Präzision GmbH, among others.
The research report titled “Coordinate Measuring Machines (CMM): A Global Strategic Business Report” announced by Global Industry Analysts Inc., provides a comprehensive review of the Coordinate Measuring Machines (CMM) markets, impact of recession on the markets, current market trends, key growth drivers, recent industry activity, and profiles of major/niche global market participants. The report provides annual sales estimates and projections for the years 2010 through 2018 in terms of sales revenues for seven major geographic markets, including the US, Canada, Japan, Europe, Asia-Pacific, Latin America, and Middle East & Africa. The study also provides historic data for an insight into market evolution over the period 2004 through 2009.
For more details about this comprehensive market research report, please visit – http://www.strategyr.com/Coordinate_Measuring_Machines_CMM_Market_Report.asp
About Global Industry Analysts, Inc.Global Industry Analysts, Inc., (GIA) is a leading publisher of off-the-shelf market research. Founded in 1987, the company currently employs over 800 people worldwide. Annually, GIA publishes more than 1300 full-scale research reports and analyzes 40,000+ market and technology trends while monitoring more than 126,000 Companies worldwide. Serving over 9500 clients in 27 countries, GIA is recognized today, as one of the world's largest and reputed market research firms.
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