The North America Shape Measuring Devices Market would witness market growth of 4.6% CAGR during the forecast period (2023-2029).
Devices that measure shapes can be utilized in a wide number of industries, including the ones dealing with steel and metal, electronics, medicine, aerospace, defense, and micro precise production, amongst others. Developing countries in a variety of locations are seeing an exponential growth in their population, which has resulted in a large increase in the demand for vital goods such as consumer electronics, personal care products, food and beverage, and pharmaceuticals.
Because of the rise in demand for consumer goods, there has been an increase in the requirement for manufacturing machinery. This, in turn, has led to an increase in the utilization of shape measuring devices for the purpose of repair and maintenance of machineries. The most important companies in this sector are beginning to provide small-scale metal production businesses with specialized devices for shape measurement. It is anticipated that occurrences such as these will propel growth in the market for form measurement devices.
Canada continues to be one of the greatest aerospace industries in the world, ranking first in the manufacture of civil flight simulators, third in that of civil engines, and fourth in that of civil aircraft. The Canadian aerospace industry is around 80% civil and 20% military. Montréal is amongst the largest aerospace center in the world and accounts for more than 70% of Canadian aerospace R&D. (R&D). Canada accounts for 5% of aerospace sales globally, whereas Quebec alone accounts for 3%. The high investment and the increasing aerospace and defense sector in the region are expected to surge the utilization of shape measuring devices for construction of precise tools and devices, propelling the market growth in the region.
The US market dominated the North America Shape Measuring Devices Market by Country in 2022, and would continue to be a dominant market till 2029; thereby, achieving a market value of $389.1 Million by 2029. The Canada market is poised to grow at a CAGR of 6.6% during (2023 - 2029). Additionally, The Mexico market would witness a CAGR of 6.4% during (2023 - 2029).
Based on Type, the market is segmented into Optical, 3D and Others. Based on Sales Channel, the market is segmented into In-store and Online. Based on Application, the market is segmented into Cutting Edge, Cutting Tool and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Worldwide Shape Measuring Devices Market is Projected to reach USD 1.9 Billion by 2029, at a CAGR of 4.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Alicona Imaging GmbH (Bruker Corporation), Ametek, Inc., Horiba Ltd., Obishi Keiki Seisakusho Co., Ltd., Alpa Metrology S.r.l., QPT Innovative Technik Handels GmbH, Microtrac Retsch GmbH (Verder Scientific GmbH & Co. KG), SmartVision S.r.l, Clemex Technologies Inc. and Scantron Industrial Products Ltd.
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