The Global Shape Measuring Devices Market size is expected to reach $1.9 billion by 2029, rising at a market growth of 4.8% CAGR during the forecast period.
Shape measuring devices are measuring devices that measure an object's form. This can be done in a number of different ways depending on the type of device. While some systems rely on physical measurements like breadth, height, and depth to determine an object's outlines, others employ lasers or other physical factors like its width, depth, and dimensions. Instruments for measuring shapes are crucial because they offer a dependable measurement that may be used to make accurate adjustments or comparisons between objects.
The projection unit is an integral part of the shape-measuring device, a measuring instrument that employs a technique known as a light section. It is utilized for the purpose of measuring the various dimensional properties of things, including their roughness, thickness, length, and breadth, amongst others. The 3D and optical types of shape-measuring devices are gaining popularity due to the extensive number of applications they can perform, which is driving the expansion of the market for shape-measuring devices.
The market is anticipated to be driven by automation as well as improvements in shape measurement devices. In the manufacturing sector, shape measuring devices are an essential component since they are used to check the micro-level measurements of tools that are used in the fabrication of car parts. This makes them an important part of the manufacturing industry.
Thus, the most common use for these devices may be found in high-precision manufacturing sectors including the aerospace and defense industries as well as steel and metal production. In addition, the primary market participants have been concentrating their efforts on the introduction of new products in order to satisfy the growing demands of a variety of industries.
During the pandemic, this has been a significant factor in slowing the expansion of the market for shape measurement devices. In addition, the coronavirus spread has stopped the demand for shape measurement devices, which had been in high demand earlier from huge industrial countries. However, the resumption of normal operations in the manufacturing sector at full capacity is anticipated which will likely contribute to the market for shape measuring devices regaining their growth in the post-pandemic period after facing significant losses in the initial phase of the pandemic.
The demand for technologically advanced freight trucks results from the rising demand for flyovers and bridges. E-commerce and digital transformation are crucial for enhancing the logistics and transportation industries. Increasing industrialization encourages the growth of infrastructure. These factors are contributing to the rising automotive industry, which increases the utilization of shape measuring devices to ensure precise measurement of the vehicles and thereby propelling the market growth.
Green construction uses environmentally friendly building materials and construction techniques to produce energy-efficient structures with no negative impact on the environment. The adoption of environmentally friendly technologies has increased, which is one example of the industry's technological advances. Thus, the increasing constructional sector and the requirements for enhanced technologies to decrease the completion timings and attain higher accuracy are anticipated to surge the demand for shape measuring devices for new-age buildings and boost the market growth in the region.
The setup of shape measuring device facilities and installing this equipment are both expensive processes. In addition, qualified personnel is necessary to run testing and measuring tools and conduct tests in compliance with the rules and guidelines that apply to the devices being evaluated. The budgets of many small- and medium-sized businesses are lower. They can't afford to spend so much on expert hires, expensive test and measurement equipment installations, and maintenance. The issues faced during the installation of these facilities and the need for high initial capital are expected to hinder the market growth.
Based on type, the shape measuring devices market is segmented into optical, 3D and others. The optical segment dominated the shape measuring devices market with maximum revenue share in 2022. This is due to the fact that these instrument makes measurements based on optical principles. The majority of optical measurement equipment operates on the core working principle of triangulation. By measuring the angle between a light beam and a reference line that is pointed at the thing being measured, triangulation determines the position of the object, increasing their utilization in various industries and aiding segment's expansion during the projected period.
On the basis of application, the shape measuring devices market is divided into cutting edge, cutting tool and others. The cutting-edge segment held the highest revenue share in the shape measuring devices market in 2022. This is owing to the fact that the cutting edge, or edge of the tool's face, removes material from the workpiece. Also, shape measurement tools are utilized to assess cutting edge wear and tear. It is projected that the adoption of shape measuring equipment to measure cutting edge radius, clearance, and other characteristics will propel the expansion of the segment.
By sales channel, the shape measuring devices market is classified into in store and online. The online segment garnered a prominent revenue share in the shape measuring devices market in 2022. This is due to the fact that an online store is a virtual store where products and services are sold online without needing a physical location. These online marketplaces are preferred for buying shape measuring equipment because of their wide accessibility and generous discounts & deals. Also, due to the widespread use of the internet, online shopping is currently a major trend.
| Report Attribute | Details |
|---|---|
| Market size value in 2022 | USD 1.3 Billion |
| Market size forecast in 2029 | USD 1.9 Billion |
| Base Year | 2022 |
| Historical Period | 2019 to 2021 |
| Forecast Period | 2023 to 2029 |
| Revenue Growth Rate | CAGR of 4.8% from 2023 to 2029 |
| Number of Pages | 189 |
| Number of Table | 340 |
| Report coverage | Market Trends, Revenue Estimation and Forecast, Segmentation Analysis, Regional and Country Breakdown, Companies Strategic Developments, Company Profiling |
| Segments covered | Type, Sales Channel, Application, Region |
| Country scope | US, Canada, Mexico, Germany, UK, France, Russia, Spain, Italy, China, Japan, India, South Korea, Singapore, Malaysia, Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria |
| Growth Drivers |
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| Restraints |
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Region-wise, the shape measuring devices market is analyzed across North America, Europe, Asia Pacific, and LAMEA. The Asia Pacific region registered the highest revenue share in the shape measuring devices market in 2022. The region's developing automotive and aerospace industries are expected to increase demand for shape measurement devices. Primarily due to the rising demand for optical coordinate measuring devices among emerging nations, the Asia-Pacific region is anticipated to experience strong growth during the forecast period.
Free Valuable Insights: Global Shape Measuring Devices Market size to reach USD 1.9 Billion by 2029
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alicona Imaging GmbH (Bruker Corporation), Ametek, Inc., Horiba Ltd., Obishi Keiki Seisakusho Co., Ltd., Alpa Metrology S.r.l., QPT Innovative Technik Handels GmbH, Microtrac Retsch GmbH (Verder Scientific GmbH & Co. KG), SmartVision S.r.l, Clemex Technologies Inc. and Scantron Industrial Products Ltd.
By Type
By Sales Channel
By Application
By Geography
The Market size is projected to reach USD 1.9 billion by 2029.
The need for high tech devices with the growing construction sector are driving the Market in coming years, however, Need for high initial capital restraints the growth of the Market.
Alicona Imaging GmbH (Bruker Corporation), Ametek, Inc., Horiba Ltd., Obishi Keiki Seisakusho Co., Ltd., Alpa Metrology S.r.l., QPT Innovative Technik Handels GmbH, Microtrac Retsch GmbH (Verder Scientific GmbH & Co. KG), SmartVision S.r.l, Clemex Technologies Inc. and Scantron Industrial Products Ltd.
The expected CAGR of this Market is 4.8% from 2023 to 2029.
The In-store segment acquired maximum revenue share in the Global Shape Measuring Devices Market by Sales Channel in 2022 thereby, achieving a market value of $1.4 billion by 2029.
The Asia Pacific market dominated the Market by Region in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $684.2 Million by 2029.
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