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Global Machine Tool Touch Probe Market to Reach USD 720 Million by 2026, Driven by the Rising Demand for Safety

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Global Machine Tool Touch Probe Market: By Offering: Hardware, Software; By Transmission: Infrared, Radio, Hard Wired; By Probe Type: By Measuring Technologies; By Machine Type; By Axes Measurement; By End Use; Regional Analysis; Historical Market and Forecast (2016-2026); Competitive Landscape; Industry Events and Developments

Global Machine Tool Touch Probe Market Outlook

The global machine tool touch probe market to reach a value of USD 585 million in 2020. The market is expected to grow at a CAGR of 3.5% in the forecast period of 2021-2026 to attain a value of USD 720 million by 2026.

 

Machine Tool Touch Probe Market

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Vigorous Competition Among the Key Players to Boost the Growth of Global Market for Machine Tool Touch Probe

The market for machine tool touch probe is being driven by the vigorous competition among the key players as well as a healthy competitive platform for new entrants within this industry. The rising demand for advanced technology for the production of machine tools has enhanced the market for machine tool touch probe. The machine tool touch probe industry is being aided by the rising demand for quality verification of the machine parts in the manufacturing process. The product allows the easy verification of the quality of the machine parts and assists in measuring the dimension of workpieces more precisely. The use of machine tool touch probe helps players in the automotive industry beat critical challenges related to the quality and safety of the manufactured automotive parts.

 

Machine Tool Touch Probe Market by End Use

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Machine Tool Touch Probe: Industry Definition and Segmentation

Machine tool touch probe ensures the precise measure of the workpiece dimensions. It is connected with sensors that allow them to be carefully operated within the industry space.

On the basis of offering, the market is divided into:

  • Hardware
  • Software

Based on transmission, the industry can be segmented into:

  • Infrared
  • Radio
  • Hard Wired

By probe type, the market is segregated into:

  • 3D Touch Probes
  • 2D Spindle Probes
  • Tool-Length Measuring Probes
  • Tool Touch-Off Probes
  • Others

On the basis of measuring technologies, the market is divided into:

  • Optical
  • Kinematic Resistive
  • Strain Gauge

By machine type, the market is categorised into:

  • CNC Machining Centre
  • CNC Turning Centre

Based on axes measurement, the industry is divided into:

  • 3-Axis Touch Probes
  • 5-Axis Touch Probes

On the basis of end-use, the industry is categorised into:

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

 

Machine Tool Touch Probe Market by Region

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Growing Demand for Safety to Aid the Global Machine Tool Touch Probe Market Growth

The market for machine tool touch probe is rising due to the increasing demand for safety within the industry space. The use of machine tool touch probe ensures the precise measure of the work piece dimensions. It is connected with sensors that allow them to be safely operated within the industry space. The demand for safety is in high demand within various industries due to its ability to reduce cost and operational downtime, which enhances the productivity level of many operations. This is expected to push the market growth over the forecast period. Further, the market is gaining large traction due to accelerating demand for accuracy in various industries. The machine tool touch probe works in impossible conditions, which are unsustainable for humans and/or in conditions where it is not feasible for humans to work optimally, as a result aiding the market growth and is expected to retain high demand in the forecast period as well.

 

Key Industry Players in the Global Machine Tool Touch Probe Market

The report gives a detailed analysis of the following key players in the global machine tool touch probe market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

  • Renishaw plc.
  • Hexagon AB
  • DR. Johannes Heidenhain GmbH
  • Blum-Novotest GmbH
  • Marposs S.p.A.
  • DP Technology Corp.
  • Others

The comprehensive EMR report provides an in-depth assessment of the industry based on the Porter's five forces model along with giving a SWOT analysis.

1    Preface
2    Report Coverage – Key Segmentation and Scope
3    Report Description
    3.1    Market Definition and Outlook
    3.2    Properties and Applications
    3.3    Market Analysis
    3.4    Key Players
4    Key Assumptions
5    Executive Summary
    5.1    Overview
    5.2    Key Drivers
    5.3    Key Developments
    5.4    Competitive Structure
    5.5    Key Industrial Trends
6    Snapshot
    6.1    Global
    6.2    Regional
7    Industry Opportunities and Challenges
8    Global Machine Tool Touch Probe Market Analysis
    8.1    Key Industry Highlights
    8.2    Global Machine Tool Touch Probe Historical Market (2016-2020) 
    8.3    Global Machine Tool Touch Probe Market Forecast (2021-2026)
    8.4    Global Machine Tool Touch Probe Market by Offering
        8.4.1    Hardware
            8.4.1.1    Market Share
            8.4.1.2    Historical Trend (2016-2020)
            8.4.1.3    Forecast Trend (2021-2026)
        8.4.2    Software
            8.4.2.1    Market Share
            8.4.2.2    Historical Trend (2016-2020)
            8.4.2.3    Forecast Trend (2021-2026)
8.5    Global Machine Tool Touch Probe Market by Transmission
        8.5.1    Infrared
            8.5.1.1    Market Share
            8.5.1.2    Historical Trend (2016-2020)
            8.5.1.3    Forecast Trend (2021-2026)
        8.5.2    Radio
            8.5.2.1    Market Share
            8.5.2.2    Historical Trend (2016-2020)
            8.5.2.3    Forecast Trend (2021-2026)
        8.5.3    Hard Wired
            8.5.3.1    Market Share
            8.5.3.2    Historical Trend (2016-2020)
            8.5.3.3    Forecast Trend (2021-2026)
    8.6    Global Machine Tool Touch Probe Market by Probe Type
        8.6.1    3D Touch Probes
            8.6.1.1    Market Share
            8.6.1.2    Historical Trend (2016-2020)
            8.6.1.3    Forecast Trend (2021-2026)
        8.6.2    2D Spindle Probes
            8.6.2.1    Market Share
            8.6.2.2    Historical Trend (2016-2020)
            8.6.2.3    Forecast Trend (2021-2026)
        8.6.3    Tool-Length Measuring Probes
            8.6.3.1    Market Share
            8.6.3.2    Historical Trend (2016-2020)
            8.6.3.3    Forecast Trend (2021-2026)
        8.6.4    Tool Touch-Off Probes
            8.6.4.1    Market Share
            8.6.4.2    Historical Trend (2016-2020)
            8.6.4.3    Forecast Trend (2021-2026)
        8.6.5    Others
    8.7    Global Machine Tool Touch Probe Market by Measuring Technologies
        8.7.1    Optical
            8.7.1.1    Market Share
            8.7.1.2    Historical Trend (2016-2020)
            8.7.1.3    Forecast Trend (2021-2026)
        8.7.2    Kinematic Resistive
            8.7.2.1    Market Share
            8.7.2.2    Historical Trend (2016-2020)
            8.7.2.3    Forecast Trend (2021-2026)
        8.7.3    Strain Gauge
            8.7.3.1    Market Share
            8.7.3.2    Historical Trend (2016-2020)
            8.7.3.3    Forecast Trend (2021-2026)
    8.8    Global Machine Tool Touch Probe Market by Machine Type
        8.8.1    CNC Machining Center
            8.8.1.1    Market Share
            8.8.1.2    Historical Trend (2016-2020)
            8.8.1.3    Forecast Trend (2021-2026)
        8.8.2    CNC Turning Center
            8.8.2.1    Market Share
            8.8.2.2    Historical Trend (2016-2020)
            8.8.2.3    Forecast Trend (2021-2026)
    8.9    Global Machine Tool Touch Probe Market by Axes Measurement
        8.9.1    3-Axis Touch Probes
            8.9.1.1    Market Share
            8.9.1.2    Historical Trend (2016-2020)
            8.9.1.3    Forecast Trend (2021-2026)
        8.9.2    5-Axis Touch Probes
            8.9.2.1    Market Share
            8.9.2.2    Historical Trend (2016-2020)
            8.9.2.3    Forecast Trend (2021-2026)
    8.10    Global Machine Tool Touch Probe Market by End Use
        8.10.1    Automotive
            8.10.1.1    Market Share
            8.10.1.2    Historical Trend (2016-2020)
            8.10.1.3    Forecast Trend (2021-2026)
        8.10.2    Defense & Aerospace
            8.10.2.1    Market Share
            8.10.2.2    Historical Trend (2016-2020)
            8.10.2.3    Forecast Trend (2021-2026)
        8.10.3    Electronic
            8.10.3.1    Market Share
            8.10.3.2    Historical Trend (2016-2020)
            8.10.3.3    Forecast Trend (2021-2026)
        8.10.4    General Machining
            8.10.4.1    Market Share
            8.10.4.2    Historical Trend (2016-2020)
            8.10.4.3    Forecast Trend (2021-2026)
        8.10.5    Medical
            8.10.5.1    Market Share
            8.10.5.2    Historical Trend (2016-2020)
            8.10.5.3    Forecast Trend (2021-2026)
        8.10.6    Petrochemical
            8.10.6.1    Market Share
            8.10.6.2    Historical Trend (2016-2020)
            8.10.6.3    Forecast Trend (2021-2026)
        8.10.7    Others
    8.11    Global Machine Tool Touch Probe Market by Region
        8.11.1    Market Share
            8.11.1.1    North America
            8.11.1.2    Europe
            8.11.1.3    Asia Pacific
            8.11.1.4    Latin America
            8.11.1.5    Middle East and Africa
9    Regional Analysis
    9.1    North America
        9.1.1    Historical Trend (2016-2020)
        9.1.2    Forecast Trend (2021-2026)
        9.1.3    Breakup by Country
            9.1.3.1    United States of America 
            9.1.3.2    Canada
    9.2    Europe
        9.2.1    Historical Trend (2016-2020)
        9.2.2    Forecast Trend (2021-2026)
        9.2.3    Breakup by Country
            9.2.3.1    United Kingdom
            9.2.3.2    Germany
            9.2.3.3    France
            9.2.3.4    Italy
            9.2.3.5    Others
    9.3    Asia Pacific
        9.3.1    Historical Trend (2016-2020)
        9.3.2    Forecast Trend (2021-2026)
        9.3.3    Breakup by Country
            9.3.3.1    China
            9.3.3.2    Japan
            9.3.3.3    India
            9.3.3.4    ASEAN
            9.3.3.5    Australia
            9.3.3.6    Others
    9.4    Latin America
        9.4.1    Historical Trend (2016-2020)
        9.4.2    Forecast Trend (2021-2026)
        9.4.3    Breakup by Country
            9.4.3.1    Brazil
            9.4.3.2    Argentina
            9.4.3.3    Mexico
            9.4.3.4    Others
    9.5    Middle East and Africa
        9.5.1    Historical Trend (2016-2020)
        9.5.2    Forecast Trend (2021-2026)
        9.5.3    Breakup by Country
            9.5.3.1    Saudi Arabia
            9.5.3.2    United Arab Emirates
            9.5.3.3    Nigeria
            9.5.3.4    South Africa
            9.5.3.5    Others
10    Market Dynamics
    10.1    SWOT Analysis
        10.1.1    Strengths
        10.1.2    Weaknesses
        10.1.3    Opportunities
        10.1.4    Threats
    10.2    Porter’s Five Forces Analysis
        10.2.1    Supplier’s Power
        10.2.2    Buyer’s Power
        10.2.3    Threat of New Entrants
        10.2.4    Degree of Rivalry
        10.2.5    Threat of Substitutes
    10.3    EMR’s Key Indicators for Demand
    10.4    EMR’s Key Indicators for Price
11    Value Chain Analysis
12    Competitive Landscape
    12.1    Market Structure
    12.2    Company Profiles
        12.2.1    Renishaw plc.
            12.2.1.1    Company Overview
            12.2.1.2    Product Portfolio
            12.2.1.3    Demographic Reach and Achievements
            12.2.1.4    Certifications
        12.2.2    Hexagon AB
            12.2.2.1    Company Overview
            12.2.2.2    Product Portfolio
            12.2.2.3    Demographic Reach and Achievements
            12.2.2.4    Certifications
        12.2.3    DR. Johannes Heidenhain GmbH
            12.2.3.1    Company Overview
            12.2.3.2    Product Portfolio
            12.2.3.3    Demographic Reach and Achievements
            12.2.3.4    Certifications
        12.2.4    Blum-Novotest GmbH
            12.2.4.1    Company Overview
            12.2.4.2    Product Portfolio
            12.2.4.3    Demographic Reach and Achievements
            12.2.4.4    Certifications
        12.2.5    Marposs S.p.A.
            12.2.5.1    Company Overview
            12.2.5.2    Product Portfolio
            12.2.5.3    Demographic Reach and Achievements
            12.2.5.4    Certifications
        12.2.6    DP Technology Corp.
            12.2.6.1    Company Overview
            12.2.6.2    Product Portfolio
            12.2.6.3    Demographic Reach and Achievements
            12.2.6.4    Certifications
        12.2.7    Others
13    Industry Events and Developments

 

Additional Customisations Available

1    Manufacturing Process
    1.1    Overview
    1.2    Detailed Process Flow
    1.3    Operation Involved
2    Project Requirements and Cost Analysis
    2.1    Land, Locations, and Site Development
    2.2    Construction
    2.3    Plant Machinery
    2.4    Cost of Raw Material
    2.5    Packaging
    2.6    Transportation
    2.7    Utilities
    2.8    Manpower
    2.9    Other Capital Investment

 

List of Figures and Tables

1.    Global Machine Tool Touch Probe Market: Key Industry Highlights, 2016 and 2026
2.    Global Machine Tool Touch Probe Historical Market: Breakup by Offering (USD Million), 2016-2020
3.    Global Machine Tool Touch Probe Market Forecast: Breakup by Offering (USD Million), 2021-2026
4.    Global Machine Tool Touch Probe Historical Market: Breakup by Transmission (USD Million), 2016-2020
5.    Global Machine Tool Touch Probe Market Forecast: Breakup by Transmission (USD Million), 2021-2026
6.    Global Machine Tool Touch Probe Historical Market: Breakup by Probe Type (USD Million), 2016-2020
7.    Global Machine Tool Touch Probe Market Forecast: Breakup by Probe Type (USD Million), 2021-2026
8.    Global Machine Tool Touch Probe Historical Market: Breakup by Machine Type (USD Million), 2016-2020
9.    Global Machine Tool Touch Probe Market Forecast: Breakup by Machine Type (USD Million), 2021-2026
10.    Global Machine Tool Touch Probe Historical Market: Breakup by Axes Measurement (USD Million), 2016-2020
11.    Global Machine Tool Touch Probe Market Forecast: Breakup by Axes Measurement (USD Million), 2021-2026
12.    Global Machine Tool Touch Probe Historical Market: Breakup by End Use (USD Million), 2016-2020
13.    Global Machine Tool Touch Probe Market Forecast: Breakup by End Use (USD Million), 2021-2026
14.    Global Machine Tool Touch Probe Historical Market: Breakup by Region (USD Million), 2016-2020
15.    Global Machine Tool Touch Probe Market Forecast: Breakup by Region (USD Million), 2021-2026
16.    North America Machine Tool Touch Probe Historical Market: Breakup by Country (USD Million), 2016-2020
17.    North America Machine Tool Touch Probe Market Forecast: Breakup by Country (USD Million), 2021-2026
18.    Europe Machine Tool Touch Probe Historical Market: Breakup by Country (USD Million), 2016-2020
19.    Europe Machine Tool Touch Probe Market Forecast: Breakup by Country (USD Million), 2021-2026
20.    Asia Pacific Machine Tool Touch Probe Historical Market: Breakup by Country (USD Million), 2016-2020
21.    Asia Pacific Machine Tool Touch Probe Market Forecast: Breakup by Country (USD Million), 2021-2026
22.    Latin America Machine Tool Touch Probe Historical Market: Breakup by Country (USD Million), 2016-2020
23.    Latin America Machine Tool Touch Probe Market Forecast: Breakup by Country (USD Million), 2021-2026
24.    Middle East and Africa Machine Tool Touch Probe Historical Market: Breakup by Country (USD Million), 2016-2020
25.    Middle East and Africa Machine Tool Touch Probe Market Forecast: Breakup by Country (USD Million), 2021-2026
26.    Global Machine Tool Touch Probe Market Structure

Key Questions Answered in the Report

What was the global machine tool touch probe market size in 2020?

In 2020, the global machine tool touch probe market attained a value of nearly USD 585 million.

What is the growth rate of the market?

The market is projected to grow at a CAGR of 3.5% between 2021 and 2026.

What is the forecast outlook of the market for 2021-2026?

The market is estimated to witness a healthy growth in the forecast period of 2021-2026 to reach about USD 720 million by 2026.

What are the major industry drivers?

The major drivers of the industry, such as rising disposable incomes, increasing industrialisation, rising demand for safety, increasing demand for accuracy in various industries, and the rising need for quality verification of the machine parts in the manufacturing process, are expected to aid the market growth.

What are the key industry trends in the global market?

The key market trend guiding the growth of the market includes the growing demand for advanced technology for the production of machine tools.

What are the major regional markets of machine tool touch probe, according to the EMR report?

The major regions in the industry are North America, Latin America, the Middle East and Africa, Europe, and the Asia Pacific.

What are the leading offerings of machine tool touch probe in the market?

The leading offerings of machine tool touch probe in the market are hardware and software.

What are the major transmission types in the industry?

The major transmission types in the industry are infrared, radio, and hard wired.

What are the significant probe types in the industry?

The significant probe types in the industry are 3D touch probes, 2D spindle probes, tool-length measuring probes, and tool touch-off probes, among others.

What are the leading measuring technologies in the industry?

The leading measuring technologies in the industry are optical, kinematic resistive, and strain gauge.

What are the major machine types in the market?

The major machine types in the market are CNC machining centre and CNC turning centre.

What are the most significant axes measurements in the market?

The most significant axes measurements in the market are 3-axis touch probes and 5-axis touch probes.

What are the leading end-use sectors in the industry?

The leading end-use sectors in the industry are automotive, defence and aerospace, electronic, general machining, medical, and petrochemical, among others.

Who are the key industry players, according to the report?

The major players in the industry are Renishaw plc., Hexagon AB, DR. Johannes Heidenhain GmbH, Blum-Novotest GmbH, Marposs S.p.A., and DP Technology Corp., among others.

Analyst Review

The global machine tool touch probe market attained a value of USD 585 million in 2020, driven by rising demand for accuracy and safety across industries. Aided by the advanced technological advancements, the market is expected to witness a further growth in the forecast period of 2021-2026, growing at a CAGR of 3.5%. The market is projected to reach USD 720 million by 2026.

EMR’s meticulous research methodology delves deep into the market, covering the macro and micro aspects of the industry. Based on offering, the market is segmented into hardware and software. By transmission, the industry can be divided into infrared, radio, and hard wired. On the basis of probe type, the market is categorised into 3D touch probes, 2D spindle probes, tool-length measuring probes, and tool touch-off probes, among others. Based on measuring technologies, the market is segmented into optical, kinematic resistive, and strain gauge. On the basis of machine type, the market is divided into CNC machining centre and CNC turning centre. The major axes measurement in the industry are 3-axis touch probes and 5-axis touch probes. By end-use, the market is segmented into automotive, defence and aerospace, electronic, general machining, medical, and petrochemical, among others. The major regional markets for machine tool touch probe are North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa. The key players in the above market include Renishaw plc., Hexagon AB, DR. Johannes Heidenhain GmbH, Blum-Novotest GmbH, Marposs S.p.A., and DP Technology Corp., among others.

EMR’s research methodology uses a combination of cutting-edge analytical tools and the expertise of their highly accomplished team, thus, providing their customers with market insights that are accurate, actionable, and help them remain ahead of their competition.

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