Rockville, March 30, 2023 (GLOBE NEWSWIRE) -- The key driving factors of the gear measuring markets is the increasing automobile production and manufacturing output, significant increase in economic growth and a shift in paradigm towards products that are more energy efficient. Global gear measuring machines market size increasing at a CAGR of 3.1% to reach US$ 499.7 million by the end of 2032
The gear measuring machines comes with various software packages whose cost varies based on the requirement of the gear manufacturers. The design of customized software require a lot of R&D which in turn increases the cost of overall machines. Also, the level of accuracy increases, cost of machine increases and this ultimately affects the profitability of the company.
The introduction of non-contact gear inspection obtained by the combinination of laser technology with gear measuring machines offers the manufacturers micron level accuracy in inspection, is a great innovation in this field.
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| Gear Measuring Machines Market Scope | |
| Report Coverage | Details |
| Historic period | 2017-2021 |
| Forecast period | 2022-2032 |
| Growth momentum & CAGR | Accelerate at a CAGR of 3.1% |
| Market growth 2022-2032 | USD 499.7 Million |
| Market structure | Fragmented |
| Regional analysis | North America, Europe, APAC, South America, and Middle East and Africa |
| Performing market contribution | Europe 33.6% share |
| Key countries | US, Canada, UK, France, and Germany |
| Competitive landscape | Leading Vendors, Market Positioning of Vendors, Competitive Strategies, and Industry Risks |
| Key companies profiled | Gleason Corporation, KLINGELNBERG, KAPP Werkzeugmaschinen GmbH., Wenzel America Ltd, Osaka Seimitsu Kikai Co., Ltd., Tokyo Technical Instrument, Inc., Gearspect Group A.S., Marposs S.p.A., Hexagon, ZEISS International, MDM Metrosoft S.r.l., United Gear & Machine Company, Inc |
| Market dynamics | Parent market analysis, market growth inducers and obstacles, fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, and market condition analysis for the forecast period. |
| Customization purview | If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized. |
Manufacturers can remain ahead of their competitors by taking maximum advantage of the booming IoT field. This will help gear manufacturers increase productivity and meet operational goals. The ability to gather a large amount of data is appealing. However, without a plan to interpret and act on the information, it looses its value.
Key Takeaways from Gear measuring machines Market Study
- The global gear measuring machines market is projected to expand at an impressive CAGR of 3.1% and be valued at US$ 499.7 Mn by 2032.
- The market witnessed 0.9% CAGR for the period of 2017-2021.
- Under max. working diameter, above 1200 mm gear measuring machines is predicted to dominate the market and is estimated to be valued at US$ 136.4 million in 2022.
- Europe is expected to dominate the market with 33.6% market share in 2022.
- Under permissible test gear weight, below 50 Kg likely to represent 25.7% market share in 2022.
- Based on application, the aviation industry is expected to be valued at US$ 32.7 Mn in 2022.
“Innovation in Non Conatct Measuirng Technologies, will Help Manufacturers Stay Ahead of their Competitors” says a Fact.MR analyst.
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Market Development
Market players are putting emphasis on R&D that will help manufacturers in quality assurance, cost optimization and process monitoring. Manufacturers are making an effort in standing apart from their competitors by focusing on supplying end users with high-quality products.
In 2021, The WENZEL Group unveiled new products into its portfolio of new generation gear inspection machines. This series is called the GT series. This series features several improvements and makes use of a completely new gear measurement software developed by the company.
Segmentation of Gear Measuring Machines Industry Research
- By Max. Working Diameter:
- <300 mm
- 300-600 mm
- 600-900 mm
- 900 - 1200 mm
- Above 1200 mm
- By Permissible Test Gear Weight:
- Below 50 Kg
- 50 - 100 Kg
- 100 - 250 Kg
- 250 - 500 Kg
- 500 - 750 Kg
- 750 - 1000 Kg
- Above 1000 Kg
- By Application:
- Gear Manufacturing
- Automotive Manufacturing
- Construction & Mining Equipment Manufacturing
- Aviation Industry
- Agriculture & Forestry Equipment Manufacturing
- Industrial Equipment Manufacturing
- Others
- By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Oceania
- Middle East & Africa (MEA)
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Key Questions Covered in the Gear Measuring Machines Market Report
- What will be the estimated size of the Market in 2023?
- At what rate will the global Gear Measuring Machines sales grow until 2032?
- Which are the factors hampering the Gear Measuring Machines demand?
- Which region will spearhead the growth in the global industry by 2032?
- Which are the factors driving sales in the Gear Measuring Machines Market during the forecast period?
More Valuable Insights
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The study divulges essential insights on the basis of max. working diameter (<300 mm, 300-600 mm, 600-900 mm, 900 - 1200 mm, above 1200 mm), permissible test gear weight (below 50 kg, 50 - 100 kg, 100 - 250 kg, 250 - 500 kg, 500 - 750 kg, 750 - 1000 kg, above 1000 kg), application (gear manufacturing, automotive manufacturing, construction & mining equipment manufacturing, aviation industry, agriculture & forestry equipment manufacturing, industrial equipment manufacturing, others) across six major regions (North America, Latin America, Europe, East Asia, South Asia and Oceania and the Middle East & Africa).
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