Gear measuring machines manufacturers are investing in capacity expansions and supply chain optimization to mitigate losses arising during the coronavirus crisis.
ROCKVILLE, MD / ACCESSWIRE / July 8, 2020 / The global gear measuring machines market is expected to rise at a sluggish 2.3% CAGR during the period of assessment between 2020 and 2030. According to the report, industrial activity around the globe has slowed down dramatically, particularly in the manufacturing sector. In addition, restrictions on international trade has also disrupted key supply chains in the gear measuring machines market, moderately affecting overall market growth.
"The wide range of gear-measuring machines and the variety of gear shapes and manufacturing methods are key influencers of market developments. Customization in operational properties and testing of varied gear parameters in terms of industry and factory specifications will support market growth, through and after the contagion is under control," says the FACT.MR study.
Gear Measuring Machines Market- Key Takeaways
- Automotive industry applications for gear measuring machines account for major market share, aided by growth of the auto industry in Asia and Europe.
- Metal and mining industry operations are gaining traction, driven by demand for raw materials in the power generation industry.
- Direct sales account for majority of the revenues. However, aftermarket demand is bolstering online sales channels.
- High economic growth and industrialization in Europe puts the region in the lead for gear measuring machines.
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Gear Measuring Machines Market- Driving Factors
- Increasing importance of automation and accuracy in measurements for industrial settings drives market growth.
- Innovations in optical profilers, multi-sensor tools, and novel software creates lucrative opportunities.
- Rising investments into product development support market developments.
Gear Measuring Machines Market- Key Restraints
- High costs of maintaining operational standards of gear measuring machines restricts adoption.
- High capital requirements for gear measuring machines holds back market growth.
COVID-19 Impact on Gear Measuring Machines Market
Disruptions in supply chains and declining numbers of new manufacturing orders are moderately hurting the gear measuring machines market. In addition, the widespread impact of the pandemic in multiple end use verticals will slow down recovery of the industry, as fears of economic recession, and uncertainty over the duration and severity of the outbreak are still prominent.
Competitive Landscape
Market participants in the gear measuring machines market are investing in acquisitions, capacity expansion, and product development. For example, Mitutoyo has revealed its multi-sensor gear measurement system, which incorporates a nano micro-form probe. Wenzel America Ltd., Gleason Corporation, KAPP Niles, and Klingelnberg AG are some of the major gear measuring machines manufacturers.
Explore the global gear measuring machines market with 128 figures, 76 data tables, along with the table of contents of the report. You can also find detailed segmentation on
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About the Report
This study offers readers a comprehensive market forecast of the gear measuring machines market. Global, regional and country-level analysis of the latest industry trends impacting the gear measuring machines market is covered in this FACT.MR study. The report offers insights on the gear measuring machines market on the basis of maximum workpiece diameter (<650 mm, 650 - 1500 mm, and >1500 mm), sales channel (direct sales and online sales), and application (agriculture, automotive, aviation, metal & mining, wind power generation, and others) across seven regions (North America, Latin America, Europe, CIS & Russia, Japan, APEJ, and MEA).
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SOURCE: Fact.MR