Overview:

The global digital caliper market is valued for more than US$ XXX.X Mn in 2019 and expected to reach a value of US$ XXX.X Mn by 2029 with a significant CAGR of around XX.X% over the forecast period of 2019-2029. Caliper is an instrument used to measure distance between nearly located points on any object with high precision and accuracy. Digital calipers are known by various names including electronic calipers, digital vernier calipers, and calipers with digital display. This type of calipers works same like conventional calipers. However, the measurements are displayed on a digital screen. Hence, are called as digital calipers.

Market Dynamics:

Rising demand for precise measuring tools from manufacturing and research sector is a key factor driving growth of the global digital caliper market. Industries prefer precise measurements to manufacture quality products. Also, rising complex designs in various product categories along with growing industrialization in many countries are major factors driving growth of the target market.

In addition, features associated with digital calipers such as accuracy in measurement and easy readings of measurements are other major factors propelling growth of the target market. Additionally, growing R&D activity in the field of engineering and rising sharp designs in mechanical industry are among the other factors supporting market growth.

However, high cost of digital calipers as compared to conventional calipers is a leading factor may hamper market growth to a certain extent.

Key Trends:

Growing focus on strategic partnerships among key players to increase the market reach is a key trend observed in the global market. For instance, in May 2018, Mahr Inc. has partnered with the University of Rhode Island’s (URI) to provide an opportunity for students to work with the organization and experience the real world of engineering and get hands on experience with advanced tools and instruments. This type of strategic initiatives is expected to boost growth of the target market.

Regional Analysis:

For detailed understanding of market dynamics, the global digital caliper market is analyzed across key regions viz. North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific market is accounted for highest revenue share in 2019 and is expected to maintain its dominance over the forecast period. This is attributed to wide presence of various manufacturing industries coupled with presence of many research and academics institutes in countries in the region. The market in Europe is expected to witness significant growth in the global market, followed by the market in the North America over the forecast period.

Scope of the Report:

Detailed Segmentation:

Global Digital Caliper Market, By Type:

• Stainless Steel
• Carbon Fiber

Global Digital Caliper Market, By Application:

• Engineering
• Research Laboratories
• Manufacturing
• Academic Institutes

Global Digital Caliper Market, By Distribution Channel:

• Distributors/ Retailers
• Online

Key Players Covered:

Key players operating in the global digital caliper market includes Mitutoyo Corporation, Hexagon AB, L.S. Starrett Company, Fowler High Precision, Inc., S-T Industries, Inc., Accuremote, Central Tools Inc., Mahr Inc., Capri Tools, and DRAPER TOOLS LTD.

Key Features of the Study:

Foresight Market Research provides detailed analysis on global market in our report- Global Digital Caliper Market by type, application, distribution channel, and region. The report provides market size (US$ Mn) and compounded annual growth rate (%) for the forecast period: 2019 – 2029, considering 2018 as the actual year. The report also contains in-depth analysis about market drivers, restraints, opportunities, new product launches, product approval, ongoing trends, and regional outlook. The report delivers competitive analysis about leading players in the global digital caliper market based on various parameters such as company overview, product portfolio, regional presence, financial performance, distribution strategies, key developments, marketing strategies, and future plans. The analysis from the report would acquaint the marketers and management authorities of companies to make the appropriate decision with respect to their future product launch, market expansion, and marketing tactics used overall the globe.