The global metrology services market size is expected to reach USD 939.3 million by 2025, at a CAGR of 5.9% over the forecast period
Metrology Services Market Size, Share & Trends Analysis Report By Product (CMM & ODS), By Application (Automotive, Aerospace, Industrial), By Region, And Segment Forecasts, 2019 - 2025
NEW YORK, May 29, 2019 /PRNewswire/ -- Read the full report: https://www.reportlinker.com/p05778955/?utm_source=PRN
The global metrology services market size is expected to reach USD 939.3 million by 2025, at a CAGR of 5.9% over the forecast period. Increasing adherence to international quality standards in end-use industries and the need for the development of technologically advanced metrology software packages are expected to drive the growth. Moreover, steady growth in the local markets and surge in the aerospace and defense industries across emerging economies, such as China, India, Japan, Russia, Brazil, and South Korea is also anticipated to fuel the demand for metrology services.
Coordinate Measuring Machine (CMM) product provides precise measurement of the object for testing, assembling, design, profiling, and reverse engineering of parts.Therefore, increasing demand for services such as calibration, machine installation, and retrofitting offered by CMM is expected to drive the growth.
Increasing demand for metrology services from different applications such as manufacturing, automotive, and power generation among others is projcted to continue driving the market growth over the forecast period.
Metrology services play a vital role across different industrial applications ranging from mining and heavy industrial production, fabrication, refineries, and material analysis.These services are primarily used for crack and failure analysis, grain sizing, cast iron modulatory and flake analysis, and surface analysis application.
Different laser scanners are used in this industrial metrology services for precision measurement of a customized component, 3D CAD for inspection of molds and assemblies, laser tracker and large volume scanning for high accuracy, and better quality product output.
Asia Pacific is expected to be the prominent region over the forecast period.China led the region in 2018 as it is among the leading producers of iron, steel, chemical, consumer product, food processing, and transportation equipment manufacturing among others.
On the other hand, U.S. led the North America metrology services market in 2018 owing to its extensive application across energy and power generation industry for raw casting, forging inspection, die and mold design and to inspect, repair or modify power generation turbine components. These technological advancements are expected to fuel the regional demand in near future.
Further key findings from the study suggest:
• North America ODS segment is expected to reach USD 183.6 million, at a CAGR of 5.7% by 2025. These services are explicitly used for reverse engineering operations in the manufacturing sector
• In Germany, the CMM segment is expected to reach USD 45.9 million by 2025, owing to increasing demand for services such as calibration, machine installation, and retrofitting, across various manufacturing industries
• The Asia Pacific automotive metrological services market is expected to reach USD 67.6 million by 2025, attributed to the increasing number of automotive component manufacturing facilities in the region
Read the full report: https://www.reportlinker.com/p05778955/?utm_source=PRN
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