Future Growth Potential is Led by the Need for High Accuracy in Automotive & Aerospace
This research service analyzes the global trends in stationary CMM that was witnessing steady growth with demand predominantly from automotive and aerospace industries. Disruption caused by the onset of the COVID-19 pandemic resulted in demand contraction across these industries. The economic uncertainty resulted in customers being cautious about their capital expenditures while focusing on maintaining liquidity. Developed nations managed to curb the spread of virus through vaccination drives and restrictions in H2 2020, while many emerging economies continued to struggle. In 2021, the virus spread was further contained as more people got vaccinated. Although signs of demand recovery were seen toward the end of 2020 and during early 2021, it is unlikely to reach pre-COVID-19 levels. Supply chain disruption coupled with semiconductor chip shortage continues to create bottlenecks for manufacturers. The market for stationary CMM will see a marginal positive growth in 2021 driven mainly by automotive & machine shop industries. However, this is based on the assumption that there will be no new COVID-19 variants causing disruptions similar to H1 2020. The market for stationary CMM is likely to return to pre-COVID-19 levels during 2022 to 2023 as industries reach maximum plant utilization levels.
The market is segmented by product type, vertical markets, and regional markets. The study covers the market share analysis of top competitors by product segments, and also mentions the prominent channel of distribution used in this market.
Annual estimates and forecasts are provided for the period 2017 through 2025. The geographical scope of the study includes North America, Europe (EU), Asia-Pacific (APAC), and Rest of World (RoW).
- North America is a significant contributor to the stationary CMM market owing to manufacturing and tooling industries. Drive toward enhancing fuel efficiencies and environmental compliance in Europe is a key demand contributor.
- APAC was the largest contributor and the fastest growing region with rapid industrialization in economies, such as China and India. Market is approached usually through a combination of direct and indirect channels.
The global stationary CMM market is estimated to reach approximately $1,683.5 million by 2025. Stationary CMM includes bridge, gantry, and horizontal-arm type CMMs with certain companies in the market offering all product types. Bridge CMM currently holds the major share of the market and is expected to be the largest market throughout the forecast period. Growing demand for inline measurements, especially in certain applications, is expected to challenge the market for CMMs. The report discusses various trends that are changing stationary CMM market and their business impact on enterprises, service providers, and small and medium.
