Coordinate measuring machine (CMM) market is growing significantly during the forecast period. CMM is used for the measurement of the physical characteristics of an object in all three dimensions (3D). The growth of the CMM market is driven by rising demand of reverse engineering in various industries such as automotive, heavy machinery, and plastic. Further, continuous growth in CMM’s application and significant growth in the 3D printing industry is also contributing in the growth of the market. CMM uses a probe which remains attached to the moving axis of the machine which can define the measurement of the object. The function of a CMM is to obtain the 3D coordinates of the required object which can be used for further modeling and analysis. It is also used in the manufacturing and assembly process in order to test the object against the intended design. Its application market includes automotive, aerospace, defense, plastic industry, medical devices, energy, heavy machinery and so on. One of the restraints to the growth of the market is the high cost of machinery. High asset turnover ratio is also reducing overall sales of the new machines hence restrain the growth of the global industry.

Segmental Outlook 

The CMM industry is segmented on the basis of type, operation mode, and end-user. By type, the market is segmented into bridge, cantilever, gantry, and horizontal arm. Bridge CMM are one of the most common machines which are used for coordinating measuring however, the object has to be placed on the plate. A cantilever CMM are generally used to measure smaller objects and provide open access to the operator from all sides. They are generally used in shop floors. Whereas, gantry machines are used for very large and heavy objects. These machines are mounted on the floor directly and hence need a substantial foundation. The horizontal arm is widely used in the automotive sector due to its property to sheet-metal type components mounted in a fixture however, this machine has the least accuracy of all type of CMM.

Automotive & Manufacturing segment will dominate the market

By end-user, the CMM market is segmented into aerospace & defense, medical device, automotive & manufacturing, energy & power and other. It is expected that the automotive and manufacturing segment will be the largest contributor to the market growth. It is due to the huge application of CMM required for various application such as batch inspection, batch measurement, fault finding, and reverse engineering. The automotive sector is also growing with a significant growth rate hence new production facilities or plant expansion will be required to original equipment manufacturer (OEM) and vendor companies globally. The automotive industry is growing significantly across the globe. As per the International Organization of Motor Vehicle Manufacturers, the total vehicles sales in 2017 were 96.8 million as compared to 93.9 million in 2016 with a growth of 3.1% year-on-year basis. Aerospace and defense are also expected to have a significant share. The aviation industry is growing significantly globally. As per the International Air Transport Association, the total passenger is expected to 8.2 billion in 2037 as compared to 4 billion in 2017. This will lead to a high demand for aircraft in various economies.

Global Coordinate Measuring Machines Market Share by End User, 2018 (%)

Regional Outlook

The global coordinate measuring machine market is segmented on the basis of geography including North America, Europe, Asia-Pacific and Rest of the World. North America is expected to have a significant share in the market. It is due to well-developed automotive, and aerospace and defense industry in the region. The US is a hub to aerospace companies including Boeing, Lockheed Martin and so on. The demand for high precision work is also expected to augment the market in the region. Europe is also expected to have a considerable CAGR attributed to well-developed automotive and aerospace industry in the region.

Global Coordinate Measuring Machine Market Growth By Region 2019-2025

Market in the Asia-Pacific region will augment with the significant rate

During the forecast period, the Asia-Pacific is expected to be significantly growing region in the CMM market. China, India, Japan, and South Korea will be the major contributors to the market. China and India are among the fastest-growing economies globally. Various companies are starting their production unit in these countries to reduce their overall production cost. Additionally, domestic consumption of these countries is increasing significantly whether it is automotive, plastics, airplanes or defense. As an instance, as per the International Air Transport Association, China and India will be the fastest-growing aviation market during 2018-2038 with a growth rate of 11% and 10% per annum, respectively. This create enormous opportunities for the growth of the market.

Market Players Outlook

The major players that contribute to the growth of the global CMM market include Carl Zeiss AG, Eley Metrology Ltd., Faro Technologies, Inc., Hexagon AB, Mitutoyo Corp., Nikon Metrology, Inc., and The Sempre Group, Ltd. These are the major market player which are providing CMM machines along with their aftermarket services. They are adopting various market approaches which include merger and acquisition, partnership with government and power companies in order to gain a strong position in the market.

Recent Activities

• In April 2019, Carl Zeiss AG acquired GOM GmbH. The company offers hardware and software for automated 3D coordinate measuring technology. The aim of the acquisition is to strengthen its market position in the area of optical digitization systems.
• In May 2019, Mitutoyo Corp. has launched MiSTAR 555 at Control Expo, Stuttgart, Germany. The machines can work between the temperature range of 10 and 40°C with the resolution stated at 0,1 µm.
• In July 2018, Hexagon has acquired the software company External-Array. It is a supplier of RationalDMIS coordinate measuring machine (CMM) software. The acquisition will increase the product portfolio of the company in the RationalDMIS software segment.

The Report Covers

• Market value data analysis of 2018 and forecast to 2025.
• Annualized market revenues ($ million) for each market segment.
• Country-wise analysis of major geographical regions.
• Key companies operating in the global coordinate measuring machine market. Based on the availability of data, information related to pipeline products, and relevant news is also available in the report.
• Analysis of business strategies by identifying the key market segments positioned for strong growth in the future.
• Analysis of market-entry and market expansion strategies.
• Competitive strategies by identifying ‘who-stands-where’ in the market.