Geo Week News

August 28, 2013

Metrology market forecast to hit $720 mil’ by 2018

08.28.13metro

3D laser scanners worth 35% of total optical digitizers and scanners market in 2012

The global metrology services market is witnessing strong growth from end user industries such as automotive sector, aerospace, and power generation industry.

Manufacturers are increasingly focused on precision and accuracy, and given the complexity of manufactured parts, measurement technologies to ensure product quality of the product are in more and more frequent use.

Metrology applies measurement science to manufacturing and other processes, offering traceability of measurement devices’ calibration to ensure confidence in the measurements.

The global metrology services market is segmented by product type into two major categories: coordinated measuring machines (CMM) and optical digitizers and scanners (ODS).

Metrology services market for CMM is expected to grow at an annual growth rate of 7.2 percent from 2012 to 2018. Increasing demand for CMM related services such as machine installation, calibration, retrofitting, and repairing among others is supporting the growth of metrology services market.

By CMM product type:

  • Gantry machines
  • Bridge machines
  • Articulated arm machines
  • Horizontal arm machines

ODS, which is the largest and fastest growing segment, is expected to grow at an annual growth rate of 8.9 percent from 2012 to 2018 and reach a market size of $435.8 million by 2018.

Among all the product segments of ODS, the demand for 3D laser scanners is highest as it offers measurement with precision of difficult geometries with the help of touch probe technology. 3D laser scanners accounted for the total share of around 35 percent of the total ODS market in 2012.

By ODS product type:

  • 3D laser scanners
  • White light scanners
  • Laser trackers

Among the end user industries, the industrial segment that comprises processing industries, metal fabrication industry, and others is the largest contributor to the global metrology services market, accounted for around 28 percent share of the total metrology services market in 2012.

The automotive industry is expected to be the fastest growing end user segment and is expected to grow at an annual growth rate of 8.7 percent from 2012 to 2018.

Europe was the leading regional market in 2012 and accounted for around 31 percent share of the global metrology services market. Increased demand for metrology services in industrial and aerospace applications in Europe was majorly responsible for its leading share in global market.

Asia Pacific is expected to grow at a CAGR of 9.2 percent from 2012 to 2018 and surpass Europe and North America by 2013 to become the leading regional market for metrology services.

This growth is mainly fuelled by the demand from booming automotive industry in Asia Pacific along with other end use industries including manufacturing, medical, and others.

Some of the leading players in metrology services market include Hexagon AB, Carl Zeiss, Mitutoyo Corporation, Nikon Corporation, Renishaw, Faro Technologies, and others. Hexagon was the market leader in global metrology services market in 2012 followed by Carl Zeiss, the report said.

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