Touch Probe - Global Market Outlook (2019-2027)
According to Stratistics MRC, the Global Touch Probe Market is accounted for $572.24 million in 2019 and is expected to reach $905.20 million by 2027 growing at a CAGR of 5.9% during the forecast period. Some of the key factors propelling the market growth include rise in industry safety standards, increasing automation in automotive manufacturing, robust features of touch probe helping in the measurement of 3D part geometries, and high accuracy integrated with radio signal transmission. However, high costs involved in installation of touch probes are restraining the market growth.
A touch probe is a technology that allows machine tools to achieve geometrical measurements within its working bed. It acts as a high precision switch, and when it is combined with a machine manufacturing process, it can determine workpiece and tool sizes and trace part locations. Hence, this technology improves productivity, enhances workpiece quality, and reduces an operator's set-up time. The robust design of optical transmission touch probe with vigorous build and resistance to ambient conditions helps its use in rugged manufacturing conditions in the aerospace and automotive industries.
By end user, the automotive industry is expected to grow at the significant rate during the forecast period. The growth of electric vehicles and autonomous vehicles is expected to fuel the demand for new automotive components and improved engine designs. The manufacturing of an automobile involves a large variety of automotive parts to be manufactured. The company’s manufacturing these parts make use of touch probe in CNC machines to assist the manufacturing quality of forged metal parts. The forged metal parts manufactured with the help of touch probes include forged wheels and car chassis. Thus, the growing automotive production across the world is driving the growth of the touch probe market.
On the basis of geography, Asia Pacific region is expected to have considerable market growth during the forecast period, due to rapid industrialization and increasing automation. The touch probe is being majorly used in CNC machining centers for precise manufacturing of various metal parts used in industries such as automotive, aerospace & defense, medical devices, and electronics manufacturing. Owing to the high consumption of consumer products, there is a huge demand for manufacturing in the APAC region. These factors are fueling the adoption of CNC machining centers in APAC and along with the market of touch probes.
Some of the key players in touch probe market include J&M Precision Products, P-Tech Industries, Hexagon, Marposs, Carl Zeiss, Dr. Johannes Heidenhain, Tormach, Blum-Novotest, Metrol, Renishaw, Right to Win, DRO PROS, Haff & Schneider, Kriatec Services, Mahr, Capture 3D, Centroid, DP Technology, Micro-Vu, and Quality Vision International.
• Tool-Length Measuring Probes
• 3D Touch Probes
• Tool Touch-off Probes
• 2D Spindle Probes
• CNC Turning Centers
• CNC Machining Centers
• Machine Tools
• Coordinate Measuring Machine
End Users Covered:
• Medical Devices
• Oil & Gas
• Aerospace & Defense
• Electronics Manufacturing
• Other End Users
Axes Measurements Covered:
• 5-Axis Touch Probes
• 3-Axis Touch Probes
Measurement Technologies Covered:
• Strain Gauge Touch Probes
• Optical Touch Probes
• Kinematic Resistive Touch Probes
• North America
o Rest of Europe
• Asia Pacific
o New Zealand
o Rest of Asia Pacific
• South America
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o South Africa
o Rest of Middle East & Africa
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