Press release
Surge In Automation Fueling The Growth Of The Market Due To Rising Demand For Efficient And Accurate Production: Strategic Insights Driving Precision Measuring Tools Market Momentum in 2025
Precision Measuring Tools
How Large Will the Precision Measuring Tools Market Size By 2025?
The market size for precision measuring tools has seen a significant increase in recent years. The market, which was valued at $9.21 billion in 2024, is predicted to expand to $9.89 billion in 2025, growing at a compound annual growth rate (CAGR) of 7.4%. This growth during the past years has resulted from a surge in demand within the automotive manufacturing sector, increased usage in aerospace applications, a heightened focus on quality assurance, industry automation adoption on a larger scale, and a rise in the worldwide trade of precision parts.
How Big Is the Precision Measuring Tools Market Size Expected to Grow by 2029?
The market size of precision measuring tools is predicted to witness a robust growth in the coming years, increasing to $13.01 billion in 2029 with a compound annual growth rate (CAGR) of 7.1%. Factors contributing to the growth during this forecast period include the escalating adoption of smart factories, amplified demand for precision in medical tools, surge in the need for sophisticated metrology in electronics, increased emphasis on renewable energy apparatus, and rising investment in infrastructure projects. Noteworthy trends for the forecast period encompass advancements in digital metrology technology, innovation in movable measuring instruments, increased investment in automated inspection system, progress in non-contact measuring technologies, and new developments in software-powered measurement solutions.
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Which Key Market Drivers Powering Precision Measuring Tools Market Expansion and Growth?
The rise in automation need is predicted to spur the growth of the precision measuring tools market in the future. The term automation denotes the application of technology, machines, or software systems in carrying out tasks with minimal or zero human interference, targeted at enhancing efficiency, precision, and productivity across various processes. As industries are grappling with staff shortages, the call for automation is progressively rising, instigating companies to implement advanced machinery and robotic systems to preserve steady production, minimize reliance on manual work, and guarantee efficient and high-quality operations. Precision measuring tools are vital for automation as they provide precise measurements that aid machines to function accurately, maintain quality, and carry out production effectively without mistakes. For example, in September 2024, the International Federation of Robotics, a non-profit organization based in Germany, reported that installations of industrial robots in Europe had hit a peak at 92,393 units, a 9% surge, with the European Union making up 80 percent of these installations, adding up to 73,534 units, a 2 percent rise from the former year. Consequently, the escalating need for automation is fuelling the growth of the precision measuring tools market.
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Which Fast-Growing Trends Are Poised to Disrupt the Precision Measuring Tools Market?
Leading firms in the precision measuring tools industry are concentrating on the creation of cutting-edge technological solutions, like ultra-high accuracy coordinate measuring machines. This is in a bid to augment measurement accuracy, boost efficiency and satisfy increasing needs of sectors in need of scrupulous dimensional accuracy. With significant precision, ultra-high accuracy coordinate measuring machines (CMMs) are advanced systems which quantify the precise dimensions and geometries of different components, often within the micrometer or sub-micrometer variation, hence maintaining rigid quality and dimensional standards. For instance, in April 2023, Hexagon AB, an industrial technology firm based in Sweden, unveiled the succeeding generation of Leitz PMM-C ultra-high accuracy coordinate measuring machines (CMMs). This range sets a new benchmark for precision measurement using a modular design that enables manufacturers to modify their machines based on specific application requirements. The new generation offers improved performance options such as the Throughput+ for inspection speeds of up to 20% faster, Eco Mode+ for energy efficiency, messaging lights for operator alertness, and superior safety with laser scanner tracking. These CMMs are designed to cater to a broad measurement volume and offer submicron accuracy in complex applications, making them a perfect fit for manufacturing laboratories and precision production setups without the need for expensive climate rooms.
What Are the Emerging Segments in the Precision Measuring Tools Market?
The precision measuring tools market covered in this report is segmented as
1) By Type: Calipers, Micrometers, Gauges, Laser Measuring Tools, Temperature Measuring Instruments
2) By Technology: Manual Measuring Tools, Electronic Measuring Tools, Optical Measuring Tools, Laser Measurement Technology
3) By Distribution Channel: Online Sales, Offline Sales, Direct Sales
4) By Application: Construction, Manufacturing, Aerospace, Automotive, Electronics
5) By End-User: Industrial, Commercial, Research And Development, Other End-Users
Subsegments:
1) By Calipers: Vernier Calipers, Dial Calipers, Digital Calipers, Inside Calipers, Outside Calipers, Depth Calipers
2) By Micrometers: Outside Micrometers, Inside Micrometers, Depth Micrometers, Digital Micrometers, Thread Micrometers
3) By Gauges: Plug Gauges, Ring Gauges, Feeler Gauges, Bore Gauges, Limit Gauges
4) By Laser Measuring Tools: Laser Distance Meters, Laser Levels, Laser Scanners, Laser Rangefinders, Laser Alignment Tools
5) By Temperature Measuring Instruments: Thermometers, Thermocouples, Infrared Thermometers, Resistance Temperature Detectors, Temperature Data Loggers
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Who Are the Global Leaders in the Precision Measuring Tools Market?
Major companies operating in the precision measuring tools market are Stanley Black & Decker Inc., KLA Corporation, Keyence Corporation, AMETEK Inc., Hexagon AB, Jenoptik AG, Renishaw plc, Mitutoyo Corporation, Mahr GmbH, Quality Vision Inteational, Wenzel Group GmbH & Co. KG, Heidenhain Corporation, Tokyo Seimitsu Co. Ltd., Automated Precision Inc., Sylvac SA, DICTUM GmbH, Ommatidia LIDAR S.L., Sangha Metrology, Trimos SA, Dorsey Metrology International
Which are the Top Profitable Regional Markets for the Precision Measuring Tools Industry?
Asia-Pacific was the largest region in the precision measuring tools market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in precision measuring tools report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
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