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Machine Tool Touch Probe Market Size to Reach US$ 756.2 Mn By 2022-2028 | CAGR Of 2.8%

The market for machine tool touch probes will increase by 3.6% annually in 2022, reaching a value of about US$ 615.1 Mn by the year’s end. In milling, turning, and grinding operations, machine tool touch probes are extensively used for quick, accurate, and automatic tool setting and workpiece measurement. It could improve dimensional accuracy while reducing setup time. The global market is anticipated to witness a considerable value CAGR of 3.5% between 2022 and 2028.

Future Market Insights projects a comparison and review study of the Machine Tool Touch Probe market dynamics, which are significantly influenced by a variety of industry factors as well as a few technological advancements. The expansion of automation and the use of contemporary technology in manufacturing and healthcare will likely lead to an increase in the demand for machine tool touch probes shortly.

Manufacturers are working to improve product features and offer longer operating life for machine tool touch probes in end-use industries like metal fabrication, automotive, and healthcare. The demand for safety has increased significantly, even with the adoption of automation in the use of CNC and lathe technology.

Despite several positive prospects of the market, certain negative impacts include firm expansion associated with the greater initial cost of equipment. Owing to the material composition and manufacturing process, the cost of items connected to machine tool touch probes is high, which is a key issue restricting consumer acceptance of new and innovative equipment.

The growth of machine tool touches probes is likely to grow at a growth rate of 3.1% by Volume over the assessment period of 2022-2028.

In 2022, the U.S. machine tool touch probe market is expected to register 4.4% year-on-year growth by volume, resisting initial skepticism about how the market would perform during a global pandemic. The growing automation level and rising demand from the existing machine tools are enhancing the sales for touch probes in the U.S. Also in quest of increasing the customer base number of manufacturers are offering advanced products with improved operational life for machine tool touch probes.

India is anticipated to expand at a CAGR of 2.4% from 2022 to 2028. Several local market participants are collaborating with foreign players to increase their sales volume. Sales of machine tool touch probes are rising steadily in India.

China continues to dominate the global machine tool market in terms of production and expansion. Due to its position as the world’s largest manufacturer of machine tools, China is significantly contributing to the expansion of the machine tool touch probe market. Throughout the forecast period, China is anticipated to hold a sizable market share in the global tool touch probe market. Throughout the forecast period, China is anticipated to hold a sizable market share in the global tool touch probe market. China machine tool touch probe market throughout the forecast period with a CAGR of 20.1%.

Global Machine Tool Touch Probe Market by Category

By Probe Type

  • 3D Touch Probe
  • 2D Spindle Probes
  • Tool-length Measuring Probes
  • Tool Touch-off Probes

By Transmission

  • Infrared
  • Radio
  • Hard Wired

By Machine Type

  • CNC Machining Center
    • Vertical Machining Center
    • Horizontal Machining Center
  • CNC Turning Center
  • Others

By End Use

  • Automotive
  • Defense & Aerospace
  • Electronics
  • General Machining
  • Medical
  • Petrochemical
  • Others

By Region

  • North America
  • Western Europe
  • Eastern Europe
  • Latin America
  • SEA & Pacific
  • China
  • Middle East & Africa

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