Machine Tool Touch Probe Market

Machine Tool Touch Probe Market Outlook 2023 to 2033

The global machine tool touch probe market share is estimated to gain a revenue of USD 637.30 million in 2023. Our IA domain experts opine that machine tool touch probe providers can expect an average CAGR of 3.5% through 2033, with a forecast valuation of USD 659.61 million by 2033.

Key Trends Positively Impacting the Sales of Machine Tool Touch Probe Market

• Increasing technological innovations in the machine tool touch probe by key players are strengthening the market for machine tool touch probes.
• Surging demand for machine tool touch probes owing to the shift toward automation and utilization of modern technology within healthcare and manufacturing sectors.
• The rising demand for speed, efficiency, and safety in machining settings is propelling the adoption of machine tool touch probes.
• Leading producers of machine tool touch probes are enhancing the product functionality and operating life to meet the exacting demands of end-use industries like automotive, metal fabrication, healthcare, etc.

Attributes	Details
Machine Tool Touch Probe Market Size, 2022	USD 615.10 million
Machine Tool Touch Probe Market Size, 2023	USD 637.30 million
Machine Tool Touch Probe Market Size, 2033	USD 659.61 million
Value CAGR (2023 to 2033)	3.5%

Historical Growth of the Machine Tool Touch Probe Market Vs. Forecast Outlook

The market valuation of machine tool touch probe surged from USD 536.02 million in 2018 to USD 615.1 million in 2022. Over the assessment period, the market is anticipated to expand at a CAGR of 3.5% to achieve USD 659.61 million by 2033. Given below are the leading factors that are impelling market growth:

• The increasing requirement for modern technology to manufacture machine tools is augmenting the sales of machine tool touch probes.
• Key players in the automotive industry deploy machine tool touch probes to beat the critical challenges associated with the safety and quality of manufactured automotive parts.
• Machine tool touch probes are in high demand in several industries because they can curtail operational downtime and overall costs, thus enhancing the productivity of different operations.
• Rising research and development activities by the leading players also enhance the scope of machine tool touch probes.

Attributes	Details
Machine Tool Touch Probe Market Size (2018)	USD 536.02 million
Machine Tool Touch Probe Market Size (2022)	USD 615.1 million

Country-wise Insights

Key Providers in the United States to Add Robust Products in Their Portfolio

Country	The United States
Forecast CAGR % (2023 to 2033)	4.1%

The United States machine tool touch probe market is predicted to register a CAGR of 4.1% through 2033. The following factors are augmenting the sales of machine tool touch probes in the country:

• Surging shifts toward automation and increasing demand for present machine tools are enhancing the adoption of machine tool touch probes in the United States.
• Manufacturers are providing new, sophisticated products with enhanced operational life in the quest to enlarge their customer base.

Germany to Offer Relatively Higher Growth Potential than Other European Counterparts

Country	Germany
Forecast CAGR % (2023 to 2033)	5.3%

Germany is predicted to play a vital role in the expansion of the machine tool touch probe industry in Western Europe. As per the latest market estimates, the German machine tool touch probe industry is projected to record a CAGR of 5.3% through 2033. Given below are the leading market propellers for machine tool touch probes:

• Rising requirement for quality verification of machine parts in the manufacturing process is propelling the demand for machine tool touch probes.
• Increasing demand for better-quality technology in the production of machine tools is augmenting the sales of machine tool touch probes.

France Market to Benefit from Increasing Improvements in the Machine Tool Touch Probes

Country	France
Forecast CAGR % (2023 to 2033)	4.5%

The France machine tool touch probe market is predicted to account for a growth rate of 4.5% through 2033. The following factors are projected to have a positive impact on the market growth:

• Increasing demand for accuracy in multiple industries is augmenting the sales of machine tool touch probes.
• Key players in the country offer a complete range of probing and tool measurement systems to elevate machine efficiency, resulting in significant quality improvements and cost savings.

China to Significantly Contribute Toward the Production of Machine Tool Touch Probes

Country	China
Forecast CAGR % (2023 to 2033)	3.6%

As per the latest market statistics, China's machine tool touch probe market is anticipated to expand at a CAGR of 3.6% through 2033. The market is projected to be positively influenced by the following factors:

• Surging demand for machine tools and other associated tools from various end-user industries like electronics, automobiles, defense, and aerospace is favorable for the market growth.
• The rise in manufacturing units of machine tool touch probes in China is bolstering the supply of these tools.

India to Witness Positive Scope for Machine Tool Touch Probe Industry

Country	India
Forecast CAGR % (2023 to 2033)	2.5%

The India machine tool touch probe market is anticipated to register a CAGR of 2.5% through 2033. Over the forecast period, the market is predicted to grow on account of:

• Increasing alliances of local market participants with foreign players are creating an optimistic outlook for the machine tool touch probe industry.
• Supportive FDI investment policies and rising growth in the industrial sector encourage manufacturers to adopt emerging business models to set up their operations within the country.

Category-wise Insights

2D Spindle Probe to Enjoy More than ½ Portion of the Global Market

Leading Segment	2D spindle probe
Market Share % (2023)	53.5%

The 2D spindle probe segment is projected to account for a market share of 53.5% in 2023. The growing necessity for high precision of machined items, in addition to surging industrial automation, is propelling the demand for 2D spindle touch probes. Another factor improving the sales of 2D spindle probes is their affordability, making it an excellent option for businesses of different sizes.

Infrared Machine Tool Touch Probes to Account for a Leading Market Share

Leading Transmission Type	Infrared
Market Share % (2023)	47%

According to recent market updates by FMI analysts, the infrared segment is expected to account for a share of 47% in 2023. The following factors are propelling the adoption of infrared transmission type:

• Increasing demand for an extreme level of accuracy, which is achieved through infrared touch probes, is creating an optimistic outlook for these touch probe tools.
• Heightened suitability of infrared touch probes in high-speed probing applications is also augmenting their adoption.

Key Strategies Employed by Providers of Machine Tool Touch Probes

Key participants are projected to take on different measures to expand their presence on a global scale, as follows:

• Rise in acquisitions and mergers to enjoy the specialized machinery of the other market participants.
• Increasing expansion activities to reach new markets.
• Surging efforts of key manufacturers to enhance the efficiency of touch probes for different applications.
• Key players are offering an extensive portfolio of touch probe solutions like wireless and wired probes, 2D and 3D probes, and radio and infrared transmission probes to attract customers.
• Companies are also providing distinct customer service solutions like training and remote troubleshooting, helping them enhance their customer satisfaction and retention.

Key Developments in the Machine Tool Touch Probe Market:

• In March 2023, The Timken Co., which supplies engineered bearings to a multitude of industries like food and beverage, mining, cement, pulp and paper, wastewater, and marine, acquired a CMM to inspect more oversized bearings.
• In June 2021, DP Technology Corp. revealed the latest probing option that works well with any touch probe manufacturer, CNC machine, and control combination. The innovation is projected to enhance the customer experience by providing offline inspection programming, compatibility with better CNC machines, and hassle-free post-processing.

Key Players Operating in the Machine Tool Touch Probe Market

• Renishaw plc.
• Hexagon AB
• DR. Johannes Heidenhain GmbH
• Blum-Novotest GmbH
• Tormach, Inc.
• METROL Co., Ltd.
• Marposs S.p.A.
• P-Tech Industries Pvt. Ltd.
• Centroid Corporation
• J & M Precision Products Inc.
• Micro-Vu.
• Quality Vision International, Inc.
• Mahr GmbH
• Magnescale Co. Ltd.
• Carl Zeiss AG

Scope of Report

Attribute	Details
Forecast Period	2023 to 2033
Historical Data Available for	2018 to 2022
Market Analysis	USD million for Value and Units for Volume
Key Regions Covered	North America; Eastern Europe; Western Europe; Latin America; SEA and Pacific; China; MEA
Key Countries Covered	The United States, Canada, Brazil, Mexico, Italy, France, the United Kingdom, Spain, BENELUX, Russia, Poland, India, Japan, ASEAN and Oceania
Key Segments Covered	Probe Type, Transmission, Machine Type, End Use, and Region
Key Companies Profiled	Renishaw plc.; Hexagon AB; DR. Johannes Heidenhain GmbH; Blum-Novotest GmbH; Tormach, Inc.; METROL Co., Ltd.; Marposs S.p.A.; P-Tech Industries Pvt. Ltd.; Centroid Corporation; J & M Precision Products Inc.; Micro-Vu.; Quality Vision International, Inc.; Mahr GmbH; Magnescale Co. Ltd.; Carl Zeiss AG
Report Coverage	Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives
Customization and Pricing	Available upon Request

Global Machine Tool Touch Probe Market by Category

By Probe Type:

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

By Transmission:

• Radio
• Hard Wired
• Infrared

By Machine Type:

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

By End Use:

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

By Region:

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

Frequently Asked Questions

How Big is the Machine Tool Touch Probe Market?

The machine tool touch probe market to be worth USD 637.30 million in 2023.

What is the Growth Potential of Machine Tool Touch Probe?

The market is predicted to expand at a CAGR of 3.5% through 2033.

What is the Future of the Machine Tool Touch Probe Market?

The market is anticipated to account for USD 659.61 million by 2033.

Which Country Offers High Growth Prospects for Machine Tool Touch Probes?

Germany is predicted to provide high growth opportunities.

Which Probe Type is in High Demand?

2D spindle probe finds extensive application among end users.