Machine Tool Touch Probe Market is expected to witness a considerable value of CAGR of 3.5% during the perioT of 2022 and 2028.

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FMI has identified North America to remain key market for machine tool touch probe over the forecast period owing to increasing demand from end-use applications. The region is estimated to witness a value CAGR 3.8% in the industry of machine tool touch probe. Global machine tool touch probe market is expected to account for about 1.3% of global machine tool market.

2016-2021 Global Machine Tool Touch Probe Market Outlook Compared to 2022-2028 Forecast

With the rise of automation and the use of advanced equipment in manufacturing and healthcare, the need for machine tool touch probes is expected to expand soon. As a result, the global machine tool touch probe market is predicted to grow throughout the forecast period because of increasing growth of related. Growing research and development activities are speeding up the market growth of machine tool touch probe market soon. The need to decrease production cycle time in automotive industry and increasing precision results in the growing demand for machine tool touch probes. As the sales are supported by stable demand in North America and Western Europe, and continued but slower growth in emerging markets, especially Middle East & Africa.

Demand outlook for machine tool touch probe between 2013 and 2021 remains 2.9% as the pandemic crisis has affected the market. The high initial cost and lack of professional labour causes the decrement in the demand for a probe in various end-use sectors has affected the market growth.

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

Global Machine Tool Touch Probe Market Dynamics

Machine tool touch probes can operate in conditions in which humans cannot sustain themselves or in conditions in which humans cannot operate optimally, such as when accuracy is the primary factor. Due to this reason, machine tool touch probes have been in high demand in the manufacturing industry in the global market. Manual measurement of work pieces is being replaced by machine tool touch probes as they reduce any chances of inaccuracy and also increase the potential for accurate workflows. This particular factor will accelerate the growth of the machine tool touch probe market over the forecast period. Moreover, human personnel can work for only a number of limited hours whereas machines and their components are capable of working continuously.

Growth in research and development activities by prominent market participants is estimated to create several growth opportunities for the machine tool touch probe market in the coming future. Increasing demand and competition will encourage manufacturers to invest on research and development. This is expected to further create opportunities for the augmentation of the machine tool touch probes market in the coming years.

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However, lack of skilled professionals for operation and maintenance of machine tool touch probes may hamper the growth of the machine tool touch probe market over the forecast period. Moreover, the initial cost associated with the machine tool touch probes is on the higher side. This may be one of the prime reasons which may derail the growth of the machine tool touch probes market over the forecast period.

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

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By Region

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