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Coordinate Measuring Machine Market Global Market Report 2022: Ukraine-Russia War Impact
Major players in the coordinate measuring machine market are Carl Zeiss AG, Creaform Inc, Eley Metrology, FARO Technologies Inc. , Hexagon AB, Keyence Corporation, Metronor AS, Mitutoyo Corporation, Nikon Metrology NV, Tokyo Seimitsu Co.
New York, Dec. 08, 2022 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Coordinate Measuring Machine Market Global Market Report 2022: Ukraine-Russia War Impact" - https://www.reportlinker.com/p06371425/?utm_source=GNW
Ltd., Perceptron Health Inc., WENZEL Group GmbH & Co. KG, Aberlink Ltd, Accurate Gauging & Instruments Pvt Ltd, and Dukin Co. Ltd.
The global coordinate measuring machine market is expected to grow from $ 2.78 billion in 2021 to $ 3.12 billion in 2022 at a compound annual growth rate (CAGR) of 12.4%. The Russia-Ukraine war disrupted the chances of global economic recovery from the COVID-19 pandemic, at least in the short term. The war between these two countries has led to economic sanctions on multiple countries, surge in commodity prices, and supply chain disruptions, effecting many markets across the globe. The coordinate measuring machine market is expected to grow to $ 4.38 billion in 2026 at a CAGR of 8.8%.
The coordinate measuring machine market consists of sales of coordinate measuring machines by entities (organizations, sole traders, and partnerships) that are used to measure the dimensions of machine and tool parts.A coordinate measuring machine (CMM) is an instrument that measures the geometry of real objects.
It is commonly used to test a part or assembly to see if it adheres to the original design intent.The dimensions of manufactured components are checked using CMMs as part of workflows for quality assurance or quality control in order to prevent or address quality issues.
The application of CMM over manual inspections or checks carried out with traditional metrology tools offers advantages in accuracy, rapidity, and a decreased risk of human mistakes.
The main types of coordinate measuring machines are fixed CMM and portable CMM.The fixed CMM is a CMM in a temperature-controlled environment.
When we transfer a part to be inspected, we must wait for it to stabilize before taking measurements.A fixed CMM is used to write an inspection routine for each and every part, or the CMM probe must be manually driven around with a joystick to take measurements.
The different applications include inspection and reverse engineering, and involve several industries such as machines, automotive, aerospace, heavy machinery, energy, power, electronics, medical, and others.
Asia Pacific was the largest region in the coordinate measuring machine market in 2021. The regions covered in the coordinate measuring machine market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
The expansion of the automotive sector is expected to propel the growth of the coordinate measuring machines market during the forecast period.The automotive industry refers to all businesses and endeavors concerned with the production of motor vehicles, including the majority of their parts, such as bodywork and engines.
CMMs are used in the automotive industry to measure suspension hard points for use in vehicle dynamics simulations.For instance, according to the India Brand Equity Foundation, an Indian government export promotion agency, the total number of passenger vehicles, three-wheelers, two-wheelers, and quadricycles produced in January 2022 was 1,860,809 units.
Also in 2023, the Indian government projects that the automotive sector will bring in $ 8–10 billion in domestic and foreign investment. Also, according to Crunchbase, a US-based prospecting platform for dealmakers, in 2020, Tesla, a US-based automotive and clean energy company, raised a total of $ 20.2 billion in funding over 35 rounds. Therefore, the expansion of the automotive sector will propel the growth of the coordinate measuring machine market.
The emergence of 3D measurement systems is a key trend gaining popularity in the coordinate measuring machine market. 3D measurement is a metrology process that collects 3D data from physical objects, such as their shapes, textures, geometries, and colors, using various types of 3D measurement tools, such as 3D scanners. For instance, in October 2019, Polyga, a Canada-based professional 3D scanning hardware and software company, launched the MeasureXL optical coordinate measuring machine for real-time 3D measurement solutions. This 3D measurement system allows users to quickly set up and probe 3D measurement points off the contours of a part. A factory-calibrated optical tracker and a wireless probe are both included in the MeasureXL portable CMM for accurate tracking right out of the box. In contrast to conventional portable CMMs with articulated arms, it has no movement limitations. Also, it responds quickly. Any measurement point (XYZ) in the three-dimensional space can be located using the probe, and results are immediately available.
In March 2021, AIMS Metrology, a US-based manufacturer of coordinate measuring machines (CMM), acquired Measurement Specialties Inc. for an undisclosed amount. The acquisition expands AIMS Metrology’s control quality and delivery timeframes for components it produces for its Revolution Series 5-axis CMMs. In addition, this acquisition will expand AIMS’ service footprint. Measurement Specialties, Inc. is a US-based provider of electronic measurement devices and coordinate measuring machines.
The countries covered in the coordinate measuring machine market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.
The coordinate measuring machines market research report is one of a series of new reports that provides coordinate measuring machines market statistics, including global market size, regional shares, competitors with coordinate measuring machines market share, detailed coordinate measuring machines market segments, market trends and opportunities, and any further data you may need to thrive in the coordinate measuring machines industry. This anomaly detection market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.
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