Latin America Metal Feeler Gauge Market Size & Outlook
Latin America metal feeler gauge market, 2018-2030 (US$M)
Related Markets
Latin America metal feeler gauge market highlights
- The Latin America metal feeler gauge market generated a revenue of USD 5.7 million in 2023.
- The market is expected to grow at a CAGR of 2.5% 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, Brazil is expected to register the highest CAGR from 2024 to 2030.
Latin America data book summary
| Market revenue in 2023 | USD 5.7 million |
| Market revenue in 2030 | USD 6.8 million |
| Growth rate | 2.5% (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, Latin America region accounted for 6.0% 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 70.18% in 2023. Horizon Databook has segmented the Latin America metal feeler gauge market based on steel, brass covering the revenue growth of each sub-segment from 2018 to 2030.
The demand for metal feeler gauge in Central & South America is expected to rise owing to the rapid expansion of automotive and manufacturing industries in the region. With rising investments in industrial projects, the requirement for precise measurement tool to ensure the quality and efficiency of production processes is further anticipated to increase, leading to rise in demand for metal feeler gauge.
Moreover, the rising production of machinery and vehicles, coupled with the advancements in the technology and adoption of stringent quality standards further likely to drive the demand for accurate calibration tools including metal feeler gauge.
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Metal Feeler Gauge Market Scope
Metal Feeler Gauge Market Companies
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Latin America metal feeler gauge market size, by country, 2018-2030 (US$M)
Latin America Metal Feeler Gauge Market Outlook Share, 2023 & 2030 (US$M)
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