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Pharmacy benefit management market
Automatic Positioning Balancing Machine Market REPORT OVERVIEW
global automatic positioning balancing machine market size was USD 128.6 Million in 2022 and market is projected to touch 173.67 Million by 2031, exhibiting a CAGR of 3.4% during the forecast period 2022-2031.
An instrument for monitoring the balance of spinning machine elements, such as rotors for electric motors, fans, turbines, disc brakes, disc drives, propellers, and pumps, is called a balancing machine. The machine typically consists of two rigid pedestals supporting a mounting platform with suspension and bearings on top. The test unit is secured to the platform with bolts and rotated using a belt-, air-, or end-drive. Sensors detect the suspension's vibration while the component is rotated, and the amount of unbalance in the component is calculated using that information. The machine can decide how much and where to add or remove weights to balance the part together with phase information.
COVID-19 Impact: Imposed Restrictions in the Economy Resulted in Decline in the Market
The COVID-19 outbreak caused temporary business closures as well as supply chain and manufacturing disruptions, which in turn reduced the development of telecom infrastructure and had a negative effect on the sales and marketing efforts of rugged phone companies competing in the market. The effects were severe, particularly for startups and small- to medium-sized businesses operating in this industry. Companies did, however, make a lot of restructuring efforts to address the supply chain difficulties and improve collaboration with suppliers and partners to lessen the negative market impact.
LATEST TRENDS
"Growth of the market in recent years"
An instrument for monitoring the balance of spinning machine elements, such as rotors for electric motors, fans, turbines, disc brakes, disc drives, propellers, and pumps, is called a balancing machine. The machine typically consists of two rigid pedestals supporting a mounting platform with suspension and bearings on top. The test unit is secured to the platform with bolts and rotated using a belt-, air-, or end-drive. Sensors detect the suspension's vibration while the component is rotated, and the amount of unbalance in the component is calculated using that information. The machine can decide how much and where to add or remove weights to balance the part together with phase information.
Automatic Positioning Balancing Machine Market SEGMENTATION
- By Type
Based on type the global automatic positioning balancing machine market is classified as magnetic automatic positioning balancing machine, non-magnetic automatic positioning balancing machine.
- By application
Based on application the global automatic positioning balancing machine market is classified as automobile motor rotors, electric tools, home appliances, others.
DRIVING FACTORS
"The Utilization as a Catalyst to Boost the Market Growth "
Over the projected period, the market for balancing machines is anticipated to rise steadily. The favourable expansion in the automobile industry, which is a significant driver of the balancing machine market, is another important aspect. Furthermore, the market for balancing machines is being driven by rising urbanisation and improved public infrastructure. The market demand for balancing machines is changing as a result of the fact that they reduce the likelihood of accidents brought on by machine imbalance.
"Extensive Application in Laundering Process to Multiply the Production and Market Growth"
The main barrier to the market for balancing machines is their high operating expenses. As a result, another major concern for the worldwide balancing machine market is that high research and development costs are negatively influencing the market's profit margins. Bolted around the platform that is rotated by a belt or end drive is the component that is being tested on the balance machine. Similar to how it can be used to detect vibration when a part is rotated through a balancing machine, sensors can also be used to control the degree of unbalance in a particular part. The information gathered by the balancing device aids in determining where and how much weight should be added or subtracted in order to balance a certain part. A variety of applications are supported by Balancing Machines for OEMs, manufacturers, overhaul, repair shops, and end-users.
RESTRAINING FACTORS
"Several Challenges Associated with the Local Irritation to Restrain the Market"
Modern technologies and instruments, such as portable balancers, data collectors, and vibration analyzers, deliver precise information about how the balancing process can be accessed. The vibration level can be measured by the balancing machine by rotating the speed frequency, which is used as an indicator of the degree of unbalance. The location is determined by the measuring phase i.e. the motion of a part of the machine to another which can be measured by an indicator in the instrument or by the stroboscopic light.
Automatic Positioning Balancing Machine Market REGIONAL INSIGHTS
"North American Region to Dominate the Market with Extensive Utilization and Multiplying Manufacturers"
Geographically, there are seven regions that make up the global market for balancing machines: North America, Western Europe, Asia Pacific (excluding Japan), Eastern Europe, Latin America, the Middle East, and Africa, as well as Japan. North America now dominates regional markets for balancing machines globally, and it is projected that this dominance will last during the forecast period. The growth of the automotive sector in developing countries is primarily responsible for the expansion. Consumption is expected to increase in countries like India and China as a result of the robust economic expansion in the Asia Pacific balancing machine market. Over the next few years, it is also anticipated that rising spending on infrastructure and building will dramatically increase demand.
KEY INDUSTRY PLAYERS
"Financial Players to Contribute Towards Expansion of Market"
This market is extremely competitive and consists of various global and regional players. Major players are involved in strategizing various plans such as mergers and acquisitions, partnerships, introduction of new and enhanced products, along with joint ventures. The report is extensive research of a list of market players who contribute towards the expansion of the market. The information is a collusion of latest technological developments, trends, production lines mergers and acquisitions, market study and others. Other factors such as regional wise analysis and segment wise analysis are also considered to understand the market share, product growth, revenue growth and others during the forecasted period.
List of Market Players Profiled
- Schenck (Germany)
- DSK (South Korea)
- Shimadzu (Japan)
- CEMB (Italy)
- Hofmann (Germany)
- HINES (US)
- Kokusai (Japan)
- Haimer (Germany)
- NIDE (China)
- JP Balancing Machine (China)
REPORT COVERAGE
The SWOT analysis and information on future developments are covered in the study. The research report includes a study of several factors that promote market growth. This section also covers the range of numerous market categories and applications that could potentially affect the market in the future. The specifics are based on current trends and historical turning points. The state of the market's components and its potential growth areas over the following years. The paper discusses market segmentation information, including subjective and quantitative research, as well as the impact of financial and strategy opinions. Additionally, the research disseminates data on national and regional assessments that take into account the dominant forces of supply and demand that are influencing market growth. The competitive environment, including market shares of significant competitors, is detailed in the report along with fresh research methodology and player strategies for the anticipated time.
REPORT COVERAGE | DETAILS |
---|---|
Market Size Value In |
US$ 128.6 Million in 2022 |
Market Size Value By |
US$ 173.67 Million by 2031 |
Growth Rate |
CAGR of 3.4% from 2022 to 2031 |
Forecast Period |
2024-2031 |
Base Year |
2023 |
Historical Data Available |
Yes |
Regional Scope |
Global |
Segments Covered | |
By Type
|
|
By Application
|
Frequently Asked Questions
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What value is the Automatic Positioning Balancing Machine market expected to touch by 2031?
The Global Automatic Positioning Balancing Machine Market is expected to USD 173.67 Million by 2031.
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What CAGR is the Automatic Positioning Balancing Machine market expected to exhibit by 2031?
The Automatic Positioning Balancing Machine market is expected to exhibit a CAGR of 3.4% by 2031.
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Which are the driving factors of the Automatic Positioning Balancing Machine market?
The favorable expansion in the automobile industry, which is a significant driver of the balancing machine market, is another important aspect.
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Which are the key players functioning in the Automatic Positioning Balancing Machine market?
Schenck, DSK, Shimadzu, CEMB, Hofmann, HINES, Kokusai, Haimer, NIDE, JP Balancing Machine are the key players functioning in the Automatic Positioning Balancing Machine market.