What Has Been The Evolution of the Coordinate Measuring Machine Market in Recent Years?
The coordinate measuring machine market has seen considerable growth due to a variety of factors.
• The market size for the coordinate measuring machine has seen substantial growth lately. It's projected to increase from $3.73 billion in 2024 to $4.08 billion in 2025, demonstrating a compound annual growth rate (CAGR) of 9.4%.
The historic growth is due to a multitude of factors such as the expansion of the automotive sector, increased automation, a stronger focus on sustainable manufacturing, reduced product development cycles, and industrialization.
What Is the Forecasted Market Size and Growth Rate for The Coordinate Measuring Machine Market?
The coordinate measuring machine market is expected to maintain its strong growth trajectory in upcoming years.
• The market size of the coordinate measuring machines is anticipated to witness robust expansion in the coming years, ballooning to a worth of $5.97 billion by 2029, with a compound annual growth rate (CAGR) of 10.0%.
This upward trajectory during the projection period can be credited to a thriving aerospace sector, expansion of the medical industry, the adoption of Industry 4.0 and smart manufacturing technologies, and an upsurge demand for top-grade products. The forecast period is set to see significant trends such as non-contact metrology, 3D scanning, digitization, shop-floor Coordinate Measuring Machines (CMMs), multi-sensor CMMs, and portable CMMs.
What Are The Core Factors Supporting Growth In The Coordinate Measuring Machine Market?
The forecasted growth of the coordinate measuring machine market is strongly tied to the projected development of the automotive industry. This field encompasses everything related to the creation of motor vehicles, including the majority of components such as engines and bodywork. Coordinate measuring machines (CMMs) play a crucial role in this sector by measuring suspension hard points for vehicle dynamics simulations. For example, in February 2024 data report by the Department of Infrastructure, Transport, Regional Development, Communications, and the Arts in Australia, there were 20.7 million vehicles registered as of January 31, 2022. This is a sizable 2% growth from January 2021. Battery electric vehicles (BEVs) in 2022 came to about 40,000, doubling the count from 2021. Notably, in the same year, passenger cars numbered 34,200, a staggering increase of 118% from 2021. The number of hybrid-electric vehicles (HEVs) in 2022 was around 277,000, reflecting a 35% growth from 2021. Consequently, the growth experienced in the automotive industry is anticipated to drive evolution in the coordinate measuring machine market.
What Are The Major Segments Within The Global Coordinate Measuring Machine Market?
The coordinate measuring machine market covered in this report is segmented –
1) By Type: Fixed CMM, Portable CMM
2) By Application: Inspection, Reverse Engineering
3) By Industry: Automotive, Aerospace, Heavy Machinery, Energy and Power, Electronics, Medical, Other Industries
Subsegments:
1) By Fixed CMM: Bridge CMM, Gantry CMM, Horizontal Arm CMM, Optical CMM
2) By Portable CMM: Articulated Arm CMM, Laser Tracker CMM, Handheld CMM, 3D Laser Scanners
Pre-Book The Coordinate Measuring Machine Global Market Report 2025 Report For Swift Delivery And Comprehensive Insights:
Which Trends Are Expected To Transform The Coordinate Measuring Machine Market?
The rise in popularity of 3D measurement systems is a significant trend currently being observed in the coordinate measuring machine market. The process of 3D measurement, a metrology procedure, gathers data from tangible objects in a 3-dimensional capacity, including aspects such as shape, texture, geometry, and color. This is achieved through a variety of 3D measurement equipment, like 3D scanners. For example, in October 2022, SCANTECH, a leading French technology company specialized in creating, producing, and selling advanced 3D scanners, introduced the TrackScan-P, a free-target optical 3D measuring system. The cutting-edge device boasts enhanced scanning efficiency due to increased laser lines, high-definition cameras, and an upgraded edge inspection feature. Furthermore, the TrackScan-P is designed with sophisticated optical tracking measurement capabilities, high-resolution cameras, and does not require reference targets for accurate part measurement. The optical 3D measuring system, encompassing a handy 3D scanner and an optical tracker, is perfect for 3D scanning of large-scale objects.
Who Are the Key Players in the Coordinate Measuring Machine Market?
Major companies operating in the coordinate measuring machine market include:
• Carl Zeiss AG
• Creaform Inc.
• Eley Metrology
• FARO Technologies Inc.
• Hexagon AB
• Keyence Corporation
• Metronor AS
• Mitutoyo Corporation
• Nikon Metrology NV
• Tokyo Seimitsu Co. Ltd.
• WENZEL Group GmbH & Co. KG
• Aberlink Ltd.
• Accurate Gauging & Instruments Pvt Ltd
• Dukin Co. Ltd.
• Applied Automation Technologies Inc.
• Dimensional Engineering
• Sipcon Instrument Industries
• Helmel Engineering Products Inc.
• International Metrology Systems
• N. J. Metrology Inc.
• Optical Gaging Products Inc.
• Renishaw plc
• TESA SA
• Trimek S.A.
• Werth Inc.
• Zett Mess Technik GmbH
• Automated Precision Inc.
What Is The Most Dominant Region In The Coordinate Measuring Machine Market?
Asia-Pacific was the largest region in the coordinate measuring machine market in 2024. The regions covered in the coordinate measuring machine market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
