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World Coordinated Measuring Machines Market
Frost & Sullivan, July 2011, Pages: 88
This research services provides a detailed assessment study on the world CMM market. A thorough assessment is performed for the market for CMM including market forecasts, competitive structure and market share analysis as well as geographic analysis. Market drivers and restraints are assessed and impact assessments are made for each trend. End user segments are analyzed. The market is expected to show consistent growth throughout the forecast period with a key focus on the articulated arm machines market.
Research Overview
This Frost & Sullivan research service titled 'World Coordinated Measuring Machines Market' provides an in-depth analysis of the market drivers and restraints, industry trends, and competitive environment in addition to the challenges and issues faced by market participants. Revenue forecasts, competitive structure, as well as end-user and product analysis are also provided. This comprehensive, objective information allows your company to mitigate risk, identify new opportunities, and drive effective strategies for growth. For more information on this custom subscription service, please click here.
Market Overview
Non-contact Probing Technology Boosts Sales in the World CMM s Market
Application-specific Products Emphasize the Need for Coordinated Measuring Machines
The mature world coordinated measuring machines (CMM) market is slated to grow at a compound annual growth rate (CAGR) of 4.6 percent from 2010 to 2015, driven by pent-up demand and product introductions during the short and medium terms. New opportunities are unfolding as built-up demand post recession is unleashed to energize market prospects. There is a distinct shift in the usage of CMM from quality control to process control. The use of dimensional measurement by vendors to check the process involved has contributed to the growing utilization of CMMs in process control. Manufacturers in this domain are rolling out application-specific products that provide better ROI. These machines are custom built to cater to varying end-user requirements. The upsurge in made-to-order manufacturing has augmented revenues of application-specific machines. Vendors are increasing their focus on temperature compensation, high-speed data-gathering sensor technology, and software improvements. “For vendors in this space, the accent is on non-contact probing technology,” notes the analyst of this research service. “Laser-based non-contact probes, which have great advantages in the amount of data acquired and the speed with which it is obtained, are highly accepted in the automotive and aerospace industry.”
In the aftermath of the recent economic crisis, the CMM market has become highly price sensitive. Vendors are under pressure to produce dramatic results, often while operating on shoe string budgets. The low-end and mid-range CMM segments, in particular, are witnessing high price pressure. Major CMM end users such as aerospace, automotive, and machine shops have gradually shifted from standardized production processes to custom jobs. The automotive industry has moved away from producing large quantities of identical engine blocks to a few thousand similar pieces, as the engine designs change every year and the vehicle models in the market have proliferated. Market participants find it challenging to keep in step with changing customer needs. Apart from this, the penetration of low-quality machines is an impediment for European and US manufacturers. Low-cost equipment is intended for markets that are not quality conscious, and consumers for whom cost is the overriding factor, tend to gravitate toward these products. Slow replacement rates have also curbed market progression. Being robust, CMM equipment does not wear out as fast as other industrial products. Although some parts need to be replaced over time, there is often no need to buy a new machine for years. The average replacement rates for CMM can be higher than 10 to 15 years, thus affecting the sale of the new machines.
Considering the competitive landscape, four large companies hold sway over the market, controlling around eighty percent of the total market. They are the preferred suppliers of CMM for the major end-user industries, creating a huge entry barrier for smaller regional companies as well as new entrants. The market has witnessed consolidation and smaller companies have been acquired by the larger ones. “To survive in this landscape, smaller regional suppliers must enhance awareness levels on their technologies and focus on offering better value propositions,” concludes the analyst. “Besides, they must expand their operations in emerging economies such as China and India, either by setting up new facilities or through individual agents.”
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