Sales in the gear measuring machine market grew at a modest pace in 2013-2018, and the modest growth is expected to continue in 2018-2028, according to a latest study by Fact.MR. Volume growth is likely to be around 2.5% CAGR through 2028, equating to a market value of more than US$500 million. The study finds that despite the fragmented nature of the market, the top five players collectively continue to account for more than a 35% share of revenue.
The growing focus on precision measurement and automation has in the recent past led to the introduction of multi-sensor technology, advanced optical profilers, and efficient software with a simpler user interface. Major players are focusing on R&D investments to maintain their stronghold in a fragmented market. However, the capital intensive nature and high maintenance costs of gear measuring machines continue to limit new sales.
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Highlighting the key demand drivers, the study believes that the vibrancy in the automotive industry will remain crucial to the overall growth of the gear measuring machine market . The Fact.MR study predicts that the automotive industry’s demand for gear measuring machines will account for $177 million in revenue by 2028.
The metal and mining industry follows the automotive industry in generating the second largest demand for gear measuring machines, accounting for nearly one-fifth of total volume growth in 2018. Steady growth in mining against the backdrop of advanced technology continues to research service and durable gears in mining equipment. Additionally, as gearboxes form the basis of agricultural machinery and wind turbines, the demand for gears remains significant in these industries. The wind power generation industry is actively exploring magnetic gearing to achieve reduced maintenance, reduced acoustic noise, and increased reliability for extended and long-lasting applications.
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The <650 mm gear measuring machine segment is estimated to account for the largest sales volume, capturing nearly two-thirds of total volume growth by 2028. Because automotive gears are typically smaller and more complex in size, gear measuring machines with workpiece diameter <650 mm are highly sought after in the automotive sector. Since gear measuring machines are expensive, buyers pay more attention in identifying the size of gears which need to be highly inspected through gear measuring machines. While the measurement principles remain the same, larger gears require greater accuracy for inspection.Research shows that demand for gear CMMs >1500mm is projected to rapidly increase at a CAGR of 4.1% by 2028, with demand concentrated in the wind turbine sector
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Key market segments
- Maximum. working diameter
- <300 mm Gear measuring machines
- Gear measuring machines from 300-600 mm
- Gear measuring machines from 600-900 mm
- Gear measuring machines from 900 – 1200 mm
- Machines for measuring gears larger than 1200 mm
- Permissible test gear weight
- Gear measuring machines under 50 kg
- Gear measuring machines from 50 to 100 kg
- Gear measuring machines from 100 to 250 kg
- Gear measuring machines from 250 to 500 kg
- Gear measuring machines from 500 – 750 kg
- Gear measuring machines from 750 to 1000 kg
- Gear measuring machines over 1000 kg
- Gear manufacturing
- Automotive manufacturing
- Production of construction and mining equipment
- Aviation industry
- Production of agricultural and forestry equipment
- Manufacturing of industrial equipment
- North America
- Latin America
- East Asia
- South Asia and Oceania
- Middle East and Africa (MEA)
Crucial insights into Gear Measuring Machines market research:
- Underlying macro and microeconomic factors affecting the growth of the gear measuring machine market Basic overview of the gear measuring machine market including market definition, classification and applications.
- Analysis of each Gear Measuring Machine market player on the basis of mergers & acquisitions, R&D projects, and product launches.
- Gear measuring machine market adoption trend in various industries.
- Important regions and countries providing lucrative opportunities for Gear Measuring Machines market stakeholders.
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