Ring Gauge & Plug Gauge Market Size, Share, Growth, and Industry Analysis, By Grade (Ring Gauge and Plug Gauge), By Application (Automobile, Electrical and Electronics, Aerospace, Machinery Industry), Regional Insights, and Forecast To 2032

Updated On: 22 April 2024

ring gauge & plug gauge market Report Overview

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The global ring gauge & plug gauge market size was USD 251.74 million in 2021 and is expected to reach USD 343.33 million by 2027, at CAGR of 5.31%  during the forecast period. The global COVID-19 pandemic has been unprecedented and staggering, with the ring gauge & plug gauge market experiencing higher-than-anticipated demand across all regions compared to pre-pandemic levels. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over.

A ring gauge and plug gauge are two types of precision measuring instruments used to measure the internal and external diameters of cylindrical parts. A ring gauge is a cylindrical ring with a precisely machined hole. It is used to measure the internal diameter of a cylindrical part. The ring gauge is inserted into the part and the fit is checked. If the ring gauge fits snugly, then the internal diameter of the part is within tolerance.

A plug gauge is a cylindrical plug with a precisely machined outside diameter. It is used to measure the external diameter of a cylindrical part. The plug gauge is placed over the part and the fit is checked. If the plug gauge fits snugly, then the external diameter of the part is within tolerance.

COVID-19 Impact: Pandemic Increased the Market Demand

The COVID-19 pandemic has had a significant impact on the ring gauge & plug gauge market share. The pandemic caused a disruption in the global supply chain, which affected the availability of ring gauges and plug gauges. This was due to factors such as factory closures, travel restrictions, and delays in shipping. The COVID-19 pandemic also led to a decline in demand for manufacturing and industrial products. This was because many businesses were forced to close or operate at reduced capacity. As a result, there was less demand for ring gauges and plug gauges, which are used in these industries. The supply chain disruption and decline in demand led to an increase in prices of ring gauges and plug gauges. This was because manufacturers had to pass on the higher costs of raw materials and shipping to customers.

Latest Trends

"Growing Adoption of Automation in Manufacturing is expected to Fuel the Growth in the Market"

Automated machines are able to produce parts with higher precision than human workers. This is because they are not susceptible to human errors, such as fatigue or carelessness. As a result, there is a greater need for ring gauge & plug gauge to ensure the accuracy of parts produced by automated machines. Automated machines are used in a variety of industries, such as automotive, aerospace, and electronics. This means that the demand for ring gauge & plug gauge is growing in a variety of industries. Ring gauge & plug gauge are also used to calibrate automated machines. This ensures that the machines are producing parts with the correct dimensions and tolerances.

ring gauge & plug gauge market Segmentation

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• By Grade Analysis

According to type, the market can be segmented into ring gauge and plug gauge.

• By Application Analysis

Based on age, the market can be divided into automobile, electrical and electronics, aerospace, machinery industry.

Driving Factors

"Increasing Demand for Precision Measurement to Foster the Market Growth"

The demand for precision measurement is increasing in a variety of industries, such as automotive, aerospace, and electronics. Many industries, such as automotive and aerospace, require high-precision parts in order to function properly. This is because these parts need to be able to withstand the stresses and forces of their operating environment. Advanced manufacturing technologies, such as CNC machining and 3D printing, are capable of producing parts with high levels of precision. This is driving the demand for ring gauge & plug gauge, which are used to inspect the accuracy of these parts. Many industries, such as aerospace and medical, have strict quality standards that must be met. This requires the use of precision measurement tools, such as ring gauges and plug gauges, to ensure that the parts meet these standards.

"Growing Focus on Quality Control to Result in the Expansion of the Market"

Manufacturers are under increasing pressure to improve the quality of their products. This is due to factors such as increasing competition and the need to meet customer expectations. Lean manufacturing techniques, such as Six Sigma, focus on reducing defects and improving quality. This requires the use of precision measurement tools, such as ring gauge & plug gauge, to identify and correct defects. Many industries, such as aerospace and medical, are subject to regulations that require them to meet certain quality standards. This requires the use of precision measurement tools, such as ring gauge & plug gauge, to ensure that the products meet these standards.

Restraining Factor

"Complex Manufacturing Process to Hamper the Market Growth."

The manufacturing process for ring gauge & plug gauge is complex and requires specialized skills. This could limit the number of manufacturers of these gauges, which could lead to higher prices. The manufacturing process for ring gauge & plug gauge requires specialized skills and knowledge. This is because the gauges need to be manufactured with high levels of precision and accuracy.

ring gauge & plug gauge market Regional Insights

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"Asia Pacific to Lead the Market Owing to Growing Automotive Industry. "

The Asia Pacific region has shown the highest ring gauge & plug gauge market growth. The automotive industry is a major consumer of ring gauges and plug gauges. The increasing demand for automobiles in the Asia Pacific region is driving the demand for ring gauges and plug gauges in this industry. The electronics industry is another major consumer of ring gauges and plug gauges. The increasing demand for electronic components in the Asia Pacific region is driving the demand for ring gauges and plug gauges in this industry.

Key Industry Players

"Key Players Are Employing Advanced Technologies In Order To Stimulate Further Growth Of The Market"

All the major players are motivated to offer superior and more advanced services in order to gain a competitive edge in the market. To increase their market presence, vendors are using a variety of techniques, including product launches, regional growth, strategic alliances, partnerships, mergers, and acquisitions.

List of Market Players Profiled

• PMC Lone Star (U.S.)
• Yorkshire Precision Gauges (U.K.)
• China Chengliang (China)
• Johs. Boss GmbH & Co. KG(JBO) (Germany)
• ISSOKU (Japan)
• Gage Assembly (India)
• Eisen (Germany)
• Deltronic (U.S.)
• BAKER (U.S.)
• Sokuhansha Co., Ltd. (Japan)
• OSG Corporation (Japan)
• Emuge-Franken (Germany)
• U.S. Gage (U.S.)
• Niigata Seiki (Japan)
• Meyer Gage (U.S.)
• Lehrmess (Germany)
• Ingram Gage Company (U.S.)

Report Coverage

This report examines an understanding of the ring gauge & plug gauge market’s size, share, growth rate, segmentation by type, application, key players, and previous and current market scenarios. The report also collects the market’s precise data and forecasts by market experts. Also, it describes the study of this industry’s financial performance, investments, growth, innovation marks, and new product launches by the top companies and offers deep insights into the current market structure, competitive analysis based on key players, key driving forces, and restraints that affect the demand for growth, opportunities, and risks.

Furthermore, the post COVID-19 pandemic’s effects on international market restrictions and a deep understanding of how the industry will recover, and strategies are also stated in the report. The competitive landscape has also been examined in detail to provide clarification of the competitive landscape.

This report also discloses the research based on methodologies that define price trend analysis of target companies, collection of data, statistics, target competitors, import-export, information, and previous years’ records based on market sales. Moreover, all the significant factors which influence the market such as small or medium business industry, macro-economic indicators, value chain analysis, and demand-side dynamics, with all the major business players have been explained in detail. This analysis is subject to modification if the key players and feasible analysis of market dynamics change.