Apr 24, 2020
Gear Measuring Machines Market to grow 1.2X through 2030, Decline in Sales Predicted owing to COVID-19 Pandemic, Projects Fact.MR
by Team Fact.MR
The global gear measuring machines market was valued at ~US$ 387.6 Mn at the end of 2019 and is expected to add a value opportunity worth US$ 92.3 Mn during the forecast period (2020-2030). The ongoing COVID-19 pandemic has resulted in production shortfalls in the automotive industry due to disruption in supply chain. Government mandated shutdowns of metal & mining industries has caused a considerable slowdown in the production and demand of gear measuring machines. However, the automotive segment is estimated to be the most lucrative application.
The increasing demand for smaller gears with complex geometry from the automotive sector will boost demand for gear measuring machines. Furthermore, manufacturers are integrating advance technologies such as laser scanning to increase the throughput and the level of accuracy for both smaller and bigger gears in order to support efficient production. Moreover, the global demand for gear measuring machines will surge by the end of 2020 as they are utilized in number of applications.
Key Takeaways of Gear Measuring Machines Market
- Global gear measuring machines market is anticipated to grow at a value CAGR of 2.3% and is projected to surpass a valuation of ~US$ 457 Mn by the end of 2030
- By sales channel, direct sales are set to hold a share-wide market dominance with over 53% of the total market value by the end of forecast period 2020-2030
- <650mm max workpiece diameter is projected to grow 2.2X faster than >1500 max workpiece diameter in 2020, and is anticipated to create an absolute $ opportunity of more than ~US$ 28.7 Mn during the forecast period
- APEJ is projected to grow 1.1X faster than North America. However, Europe is estimated to account for major chunk of the demand pie by the end of the forecast period
- Automotive segment is projected to surpass market valuation of US$ 156.3 Mn by the end of 2030 and is anticipated to grow at a value CAGR of 1.4% during the forecast period
“The COVID-19 pandemic has hit the gear measuring machines market adversely on the supply and demand side causing a decline in sales. Post COVID-19, the expansion in the automotive industry and increasing demand for more complex gears from aviation and metal & mining industry from the is anticipated to bolster the growth of gear measuring machines market” says the Fact.MR analyst
Capacity Expansions to Facilitate Gear Measuring Machines Market Recovery
Prominent players in the gear measuring machines market are Gleason Corporation, Klingelnberg AG, KAPP Niles, Mahr Metering Systems GmbH, Osaka Seimitsu Kikai Co., Ltd. Tokyo Technical Instrument Inc., Gearspect Group A.S., Wenzel America Ltd., among others. Key players in hear measuring machines market are focusing on expanding their manufacturing facilities to increase their reach in the global market. For instance,
- In 2020, KAPP Niles expanded its presence in India and Mexico. With this expansion, the company will focus on meeting the increasing the demand from these markets and will further increase the performance, response time, and quality of the services for the customers in these markets
- In 2019, Mahr Inc., opened its new regional center in Detroit. This strengthened its presence in North America with this new center focusing on meeting customers’ need especially from the automotive industry
Find More Valuable Insights on Gear Measuring Machines Market
Fact.MR, in its new offering, brings to fore an unbiased analysis of the global gear measuring machines market, presenting historical demand data (2015-2019) and forecast statistics for the period, 2020-2030. The study divulges compelling insights on the gear measuring machines market based on max workpiece diameter (<650 mm, 650 – 1500 mm, >1500 mm), sales channel (direct sales, online sales), and application (agriculture, automotive, aviation, metal & mining, wind power generation, others) across seven regions.
>>> To Get more insights on gear measuring machines market, visit- https://www.factmr.com/report/2062/gear-measuring-machine-market
About the Industrial Division at Fact.MR
Expert analysis, actionable insights, and strategic recommendations of the highly seasoned industrial team at Fact.MR helps clients from across the globe with their unique business intelligence needs. With a repertoire of over thousand reports and 1 million plus data points, the team has analyzed industrial good industry across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.