Asia Pacific Metal Feeler Gauge Market Size & Outlook
Asia Pacific metal feeler gauge market, 2018-2030 (US$M)
Related Markets
Asia Pacific metal feeler gauge market highlights
- The Asia Pacific metal feeler gauge market generated a revenue of USD 37.1 million in 2023.
- The market is expected to grow at a CAGR of 3.3% from 2024 to 2030.
- In terms of segment, steel was the largest revenue generating material in 2023.
- Brass is the most lucrative material segment registering the fastest growth during the forecast period.
- Country-wise, India is expected to register the highest CAGR from 2024 to 2030.
Asia Pacific data book summary
| Market revenue in 2023 | USD 37.1 million |
| Market revenue in 2030 | USD 46.7 million |
| Growth rate | 3.3% (CAGR from 2023 to 2030) |
| Largest segment | Steel |
| Fastest growing segment | Brass |
| Historical data covered | 2018 - 2022 |
| Base year for estimation | 2023 |
| Forecast period covered | 2024 - 2030 |
| Quantitative units | Revenue in USD million |
| Market segmentation | Steel, Brass |
| Key market players worldwide | Starrett, Stanley Black & Decker, MW Industries, Precision Brand Products, SKF AB ADR, Bahco, Gedore, Vogel Germany |
Other key industry trends
- In terms of revenue, Asia Pacific region accounted for 38.8% of the global metal feeler gauge market in 2023.
- Globally, Asia Pacific is projected to lead the regional market in terms of revenue in 2030.
- Asia Pacific is the fastest growing regional market and is projected to reach USD 46.7 million by 2030.
Steel was the largest segment with a revenue share of 71.97% in 2023. Horizon Databook has segmented the Asia Pacific metal feeler gauge market based on steel, brass covering the revenue growth of each sub-segment from 2018 to 2030.
The metal feeler gauge market in Asia Pacific is thriving owing to its increased demand in the automotive, electronics, and manufacturing sectors. Furthermore, technological advancements in various industries in the region are also contributing to the growing need for metal feeler gauges.
As these economies continue to advance their industrial capabilities, the market outlook for metal feeler gauges in Asia Pacific remains promising. This presents opportunities for innovation, collaboration, and market expansion in specialized industrial applications that utilize these gauges.
Governments in the Asia Pacific region is increasingly investing in various projects to develop their transportation networks, energy infrastructures, and urban areas. These projects require a wide range of industrial equipment and machinery that utilize metal feeler gauges for precise assembly and operational efficiency. Thus, these initiatives are expected to contribute to regional market growth in the coming years.
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Metal Feeler Gauge Market Scope
Metal Feeler Gauge Market Companies
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Asia Pacific metal feeler gauge market size, by country, 2018-2030 (US$M)
Asia Pacific Metal Feeler Gauge Market Outlook Share, 2023 & 2030 (US$M)
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