Touch Probe Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

MARKET OVERVIEW

A touch probe is a technology that allows machine tools to achieve geometrical measurements within its working bed. The touch probe acts as a high precision switch, and when it is combined with a machine manufacturing process, it can determine workpiece and tool sizes and trace part locations. Hence, this technology improves productivity, enhances workpiece quality, and reduces an operator's set-up time. The robust design of optical transmission touch probe with vigorous build and resistance to ambient conditions helps its use in rugged manufacturing conditions in the aerospace and automotive industries. The optical transmission touch probe also aids in handling multiple touch probes with the help of a single receiver, therefore simplifying the machining design system. All these factors inspire end-users from manufacturing industries to accept optical touch probes in their machining centers.

MARKET SCOPE

The "Global Touch Probe Market Analysis to 2031" is a specialized and in-depth study with a special focus on the global market trend analysis. The report aims to provide an overview of the touch probe market with detailed market segmentation by type, transmission, application, end users, and geography. The report provides key statistics on the market status of the leading touch probe market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

•   Based on type, the global touch probe market is segmented into 3D Touch Probes, 2D spindle probes, tool-length measuring probes, and tool touch-off probes.
  
•   Based on transmission, the market is segmented into optical, radio, and hard-wired.
  
•   On the basis of application, the market is segmented into CNC machining centers, CNC turning centers, and others.
  
•   Based on end users, the market is segmented into automotive, aerospace and defense, electronics manufacturing, medical devices, and others.
  

MARKET DYNAMICS

Drivers:

•   The robust features of touch probe helping in the measurement of 3D part geometries, increasing automation in automotive manufacturing, and rise in industry safety standards are some of the significant factors driving the growth of the touch probe market.
  
•   High accuracy integrated with radio signal transmission, which provides benefits such as the skill to measure complex 3D part geometries on every size of machining centers, is one of the factors anticipated to propel the growth of the touch probe market.
  

Restraints:

•   The advanced development of 3D laser scanners is the major factor that may restrain the growth of the touch probe market.
  

REGIONAL FRAMEWORK

The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2021 to 2031 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The touch probe market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the touch probe market in these regions.

IMPACT OF COVID-19 ON TOUCH PROBE MARKET
COVID-19 first began in Wuhan (China) during December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms confirmed cases and reported deaths. The COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. Shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in global market. Few companies have already announced possible delays in product deliveries and slump in future sales of their products. In addition to this, the global travel bans imposed by countries in Europe, Asia-Pacific, and North America are affecting the business collaborations and partnerships opportunities.

MARKET PLAYERS

The report covers key developments in the touch probe market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market players from touch probe market are anticipated to lucrative growth opportunities in the future with the rising demand in the global market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the touch probe market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

•   Blum-Novotest GmbH
  
•   Capture 3D, Inc.
  
•   Haff and Schneider GmbH and Co. OHG
  
•   HEIDENHAIN
  
•   Hexagon AB
  
•   METROL Co., Ltd.
  
•   P-Tech Industries Pvt. Ltd.
  
•   Renishaw
  
•   Tormach Inc.
  
•   Vici and C S.p.A.
  

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.

Touch Probe Report Scope