Product category:
Manufacturing orders, contracts, financial reports
News Release from: Frost and Sullivan
Edited by the Manufacturingtalk Editorial
Team on 03 September 2007
Micro metrology equipment market expands
Research shows that the world micro metrology equipment market is expanding steadily and may nearly double - to US$1,382.5 million - by 2013.
Driven primarily by the growing miniaturisation of parts and rising demand from the Asia Pacific region, the world micro metrology equipment market is expanding steadily, reports Frost and Sullivan It said that as customer awareness and volume sales increase, high equipment costs will level off over time
This article was originally published on Manufacturingtalk on 28 Apr 2004 at 8.00am (UK)
Related stories
Technical performance ranks high in PPE market
Analysis of the European personal protective equipment market reveals that end users primarily evaluate technical performance of products, followed by price and customer service.
Furniture adhesive users value performance
Latest research from international market analysts Frost and Sullivan reveals that in the European furniture and woodworking adhesives business, customers value product performance over price.
Frost and Sullivan's research report, 'World Micro Metrology Equipment Market', fiound that the market earned revenues of US$726.0 million in 2006 and estimated this to reach US$1,382.5 million in 2013.
Frost and Sullivan Research Analyst, Deepak Kannan, said: "Rapid technological advances, coupled with the continuous drive to miniaturise parts, are aiding market development.
The ability of micro metrology equipment to effectively meet the high accuracy and precision needs of end users in a timely manner is also reinforcing positive growth forecasts".
Further reading
Transmitter role changes to increase efficiency
The most important task for control engineers today, says Victoria Whiting, Frost and Sullivan, is to increase the economic efficiency of their industrial plants.
Conference to review European workwear market
Frost and Sullivan to Host Interactive Analyst Briefing on the European Market for Workwear, February 5, 2002.
Automotive industry squeezes textile manufacturers
Increased OEM purchasing power stemming from consolidation within the automotive industry, combined with their stringent cost cutting measures are squeezing textile manufacturers.
A wide range of end-user industries including automotive, aerospace and defence, the military and electronics manufacturing, have a high demand for measuring gages, optical and non-contact measurement equipment.
High technology end-user industries are constantly investing in new technologies in order to improve the measurement process, thereby creating growth opportunities for advanced micro metrology equipment.
Kannan said: "The overall market is expected to expand steadily with growth prospects emerging in the Asia Pacific region.
The establishment of manufacturing hubs for infrastructure development and automotive production in the region will offer equipment manufacturers based in North America and Europe the opportunity to establish a global presence by diversifying to Asia Pacific".
Currently, high equipment costs are dampening efforts to boost volume sales.
The dearth of skilled labour to operate high-end equipment with complex functionalities and the lack of equipment standards are also impeding rapid market growth.
Kannan noted: "Significant investments being made in technology development reflect in the high final cost of the equipment, hindering wider market penetration.
Moreover, the lack of universal standards is making it difficult for customers to compare equipment made by different manufacturers and make an informed choice".
Raising customer awareness will be important to enhance market penetration.
Ensuring that customers understand the advantage of using optical and non-contact measurement systems will be imperative to sustain market growth.
The move towards achieving complete automation and improving user interface could reduce the necessity of skilled labour.
'World Micro Metrology Equipments Market' is part of the Test and Measurement Growth Partnership Services, which also includes research in the following markets.
* World Wireless Network Monitoring Systems Markets.
* World Oscilloscopes Markets.
* Asia Pacific General Purpose Test and Measurement Equipment Markets.
All research included in subscriptions provide detailed market opportunities and industry trends that have been evaluated following extensive interviews with market participants.
Interviews with the press are available.
* About Frost and Sullivan - Frost and Sullivan, a global growth consulting company, has been partnering with clients to support the development of innovative strategies for more than 40 years.
The company's industry expertise integrates growth consulting, growth partnership services and corporate management training to identify and develop opportunities.
Frost and Sullivan serves an extensive clientele that includes Global 1000 companies, emerging companies and the investment community by providing comprehensive industry coverage that reflects a unique global perspective and combines ongoing analysis of markets, technologies, econometrics and demographics.
* World Micro Metrology Equipments Market - quote M149-30.
• Frost and Sullivan: contact details and other news
• Email this article to a colleague
• Register for the free Manufacturingtalk email newsletter
• Manufacturingtalk Home Page
