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The market for machine tool touch probe is expected to exhibit a healthy growth as chemical processing, electronics, construction, automotive industries, and machining, among others, will offer lucrative growth opportunities for the machine tool touch probe manufacturers. Further, the market is expected to showcase healthy performance in the emerging countries as they are pushing industrialisation and construction globally. The market is propelled further by the wide application in the automotive as well as in the manufacturing industry as these tools are required to accurately measure the dimensions of components. The growing automotive industry is anticipated to witness rapid growth in the forecast period, especially in the developing regions. This can be attributed to the rising per capita income and rapid urbanisation.
The market is further improving due to several innovations within the industry by the key players. DP Technology Corp. and Renishaw plc. (OTC US: RNSHF) are the leading key players. DP Technology Corp. announced in June 2021 of the launch of a new probing option that is compatible with any combination of CNC machine, touch probe manufacturer, and control. This new innovation will aid the market growth for machine tool touch probe as it offers offline inspection programming, hassle-free post-processing, and compatibility with increased CNC machines.
Market Analysis by Offering, Transmission, Probe Type, Measuring Technologies, Machine Type, Axes Measurement, End Use, and Region:
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Renishaw plc., Hexagon AB, DR. Johannes Heidenhain GmbH, Blum-Novotest GmbH, Marposs S.p.A., and DP Technology Corp., among others, are the key players in the global machine tool touch probe market. The EMR report looks into the capacity, market share, and latest developments of these major players like plant turnarounds, mergers and acquisitions, and capacity expansions.
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