Precision Parts Market Research Report
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This market research report expects the global Precision Market size to cross $225 billion by 2022, growing at a CAGR more than 11% during 2016-2022. The industry analysis report provides in-depth market analysis, share, market size and forecast by segments. The segments analysis provided in the report are by End-user (Watches, Healthcare, Aerospace, Electronics and Semiconductors, Automotive, and Others) by Geography (Europe, APAC, North America, Middle East & Africa, and Latin America). The precision parts research report identifies Renishaw, W.M. Berg, Beyonics, Precision Castparts and C. Brandauer as the leading vendor in the market.

The need for precision parts is supported by faster technology curve in the end-user segments such as semiconductor fabrication, automotive assembly and machinery and equipment design. The engineering has also evolved to be a niche industry with expertise significantly in the hands of small and medium-sized enterprises that are able to easily gain expertise driven by open design architectures and the rise of subscription-based CAD software.  

Precision Parts Market Size in Revenue

Precision Parts Market Size in Revenue

The report provides a holistic view of the global market, companies involved, and factors driving the growth of the market. It also provides information about the latest trends that have started to surface and are likely to become strong market driving forces over the next five years. This report also provides the Porter’s Five Forces analysis along with a description of each force and its impact on the market. Further, the report also provides complete value chain analysis of the global market.

Precision Parts Market: Key Vendor Analysis

APAC followed by North America is the most competitive markets. Latin America, on the other hand, remains to be a market with oligopolistic nature.

The major manufacturers included in the report are as follows:

  • Renishaw
  • W.M. Berg

  • Beyonics Pte

  • Precision Castparts

  • C. Brandauer & Co. Ltd.

Other prominent manufacturers in the  market include Aequs Pvt. Ltd., Camcraft, MMI Precision Manufacturing, KKSP Precision Machining LLC, Ashley Ward Inc., Motherson Orca Precision Technology, PEKO Precision Products, HEICO Corp., Univac Precision Engineering Pte Ltd., and Dixi Cylindre SA.

Precision Parts Market: Dynamics

Infrastructure development in growing economies to propel market growth

Infrastructure development and manufacturing are the key growth drivers in the developing countries. This encompasses the development of airports, transport, communication systems, schools, hospitals shopping malls, etc. which, in turn, drive the demand for technology enablers and solutions. Safety, energy efficiency, better productivity, and sustainability are the key themes governing this expansion. Mechanization enablers and power transmission products, in addition to heavy machinery and equipment, stand critical in achieving the same.

Precision Parts Market: Segmental Analysis

Healthcare segment to witness highest growth

The sales of wrist watches in the developing markets of India, China, and Southeast Asia have been on the continuous rise since 2010. This trend is likely to continue due to the rising disposable incomes and better availability of high-end products in this region. This is likely to increase the demand for precision parts for use in the watch manufacturing industry during the forecast period.

The healthcare sector is undergoing a rapid transformation driven by the advancement in IoT and its focus on scalability, connectivity, security, and sustainability. Digital innovation in the healthcare sector has moved past beyond data collection and has offered insights for smart and practical applications, which add value to the patient care by providing real-time data and reducing costs. Precision healthcare solutions are increasingly gaining prominence in surgical planning and medical component manufacturing.

This engineering technology is extensively deployed across the aerospace industry through thousands of components sourced and assembled at various hierarchies. With the expansion of the aerospace industry, the demand is expected to grow during the forecast period.

Semiconductor fabrication plants involve a high degree of automation with absolute emphasis on cleanliness, accuracy, and safety. High-performance components and precision parts play a major role in these fabrication plants as they enable superior performance and durability. The demand and corresponding revenue of precision parts in the electronics and semiconductor segment is expected to grow exponentially during the forecast period.

Complex machines and intricately engineered systems are increasingly being adopted in automation, production, and manufacturing lines. A high level of automation technology is involved in the automobile manufacturing industry. This is expected to drive the growth of the market in the automotive end-user segment.

The increasing demand for precision parts in various other industries such as defense, optical equipment, and camera manufacturing, HVAC and plumbing, marine and offshore, general construction and heavy equipment, and power tools are expected to drive the market growth for  during the forecast period.

Precision Parts Market: Geographical Analysis

The APAC market to witness the highest growth over the next five years

The consumption of precision parts in the APAC region is on the rise due to the presence of enormous population and increased disposable incomes. The emerging markets in APAC are expected to grow both in the consumption size and purchasing power.

In Europe, there is a high demand for value-added materials both from industries and consumers sectors due to the high disposable income. The precision parts market is large in this region driven by demand from key end-user industries in Germany, the UK, and France.

Several middle-eastern economies are increasingly turning to construction, followed by petro-chemicals to attain growth. With a rise in construction activities, there is a corresponding demand for industrial tools, heavy machinery, and their accessories, both in terms of fresh demand and also replacement and upgrading of existing ones. This is likely to propel the  market in this region.

The demand for precision manufacturing in North America is driven by the massive size of the end-user industries, stringent standards and regulations, and manufacturing innovations.

Despite facing moderation in the economic growth after decades of strong economic expansion, Latin America remains a strategic area due to the market potential and opportunities it offers for various infrastructural players.

The global Precision Parts market size is expected to cross $225 billon by 2022, growing at a CAGR of more than 11% during 2017-2022. The market research report on Precision Parts provides market size and forecast of the overall market and by segments such as end-user and geography.

The rise of industrial computers, design capabilities, and advanced tool control systems has given a boost to precision designing and manufacturing of industrial parts. This trend is expected to continue over the next few years with the extensive use of computers in almost all conventional industrial and institutional applications. The global market  is set to expand to $225.66 billion by 2022, growing at a CAGR of 11.27% during the forecast period.

Segmentation of Global Precision Parts Market

Segmentation of Global Precision Parts Market

Report Timeline

  • Base Year: 2016   

  • Forecast Year: 2017–2022   

The major manufacturers included in the report are as follows:

  • Renishaw Plc.
  • W.M. Berg Inc.

  • Beyonics Pte Ltd.

  • Precision Castparts Corp.

  • C. Brandauer & Co. Ltd.

Other prominent manufacturers in the market include Aequs Pvt. Ltd., Camcraft, MMI Precision Manufacturing, KKSP Precision Machining LLC, Ashley Ward Inc., Motherson Orca Precision Technology, PEKO Precision Products, HEICO Corp., Univac Precision Engineering Pte Ltd., and Dixi Cylindre SA.

Scope of the Report

The report considers the present scenario of the market and its dynamics for the period 2016−2022. It covers a detailed overview of various market growth enablers, restraints, and trends. It covers both the demand and supply sides of the market. The report also profiles and analyzes the leading manufacturers and other prominent manufacturers operating in the market.

This report provides the details of the market size in revenue from the following segments:

End-user

  • Watches

  • Healthcare

  • Aerospace

  • Electronics and Semiconductors

  • Automotive

  • Others

Geography

  • Europe

  • APAC

  • North America

  • Middle East and Africa (MEA)

  • Latin America

Country

  • Canada

  • China

  • France

  • Germany

  • Italy

  • Japan

  • US

1          Research Methodology

2          Research objectives

3          Research Process

4          Report Coverage

4.1       Market Definition

4.2       Base Year

4.3       Scope of Study

4.3.1   Market Segmentation by End-User

4.3.2   Market Segmentation by Geography

 

5          Report Assumptions & Caveats

5.1       Currency Conversion rate

5.2       Market Derivation

 

6          Market at a Glance

7          Introduction

7.1       Precision Parts: Definition

 

8          Market Dynamics

8.1       Market Growth Enablers

8.1.1   Growing Need for Smart Prototyping and Lower Time-to-market

8.1.2   Expansive Demand for Precision Parts in Healthcare Industry

8.1.3   Revolutionary Upgrades in CNC Machines and their Capabilities

8.1.4   Faster Technology Curve and In-house Manufacturing Being Expensive in Several End-users

8.1.5   Evolving Open Architectures and Rising Subscription-based CAD Software

8.2       Market Growth Restraint

8.2.1   Insufficient Development of New Micro-factory and Micro-manufacturing Concepts

8.2.2   Risks Pertaining to Variability and Conformance Driven by Stringent Regulations

8.2.3   High Degree of End-user Variability and Market Risks

8.2.4   Infringements and Intellectual Property Violation Concerns

8.3       Market Opportunities & Trends

8.3.1   Growing Diversity in Substrate Materials Driven by Evolving Performance and Cost Expectations

8.3.2   Increased Prominence of Asian Manufacturing Centers for Precision Manufacturing

8.3.3   Overwhelming Rise in Global Industrial Automation Expenditure

8.3.4   Rise of Industry 4.0 and Increased Prominence of Smart Precision Manufacturing

 

9          Global Precision Parts Market

9.1       Market Overview

9.1.1   Market Size & Forecast

9.2       Porter’s Five Forces Analysis

9.2.1   Threat of New Entrants

9.2.2   Bargaining Power of Suppliers

9.2.3   Bargaining Power of Buyers

9.2.4   Threat of Substitutes

9.2.5   Competitive Rivalry

 

10        Precision Parts Market By End-User

10.1    Market Overview

10.2    Watches

10.2.1 Market Size & Forecast

10.3    Healthcare

10.3.1 Market Size & Forecast

10.4    Aerospace

10.4.1 Market Size & Forecast

10.5    Electronics and Semiconductors

10.5.1 Market Size & Forecast

10.6    Automotive

10.6.1 Market Size & Forecast

10.7    Other End-users

10.7.1 Market Size & Forecast

10.7.2 Defense and Firearms

10.7.3 Marine and Offshore Drilling

10.7.4 Construction

 

11        Precision Market – By Geography

11.1    Geographical Overview

 

12        APAC: Precision Parts Market

12.1    Market Size & Forecast

12.2    China

12.2.1 Market Size & Forecast

12.3    Japan

12.3.1 Market Size & Forecast

12.4    Other APAC Countries

12.4.1 Market Size & Forecast

 

13        Europe: Precision Parts Market

13.1    Market Overview

13.1.1 Market Size & Forecast

13.2    Germany

13.3    Italy

13.4    France

 

14        MEA: Precision Parts Market

14.1    Market Overview

14.1.1 Market Size & Forecast

 

15        North America: Precision Parts Market

15.1    Market Overview

15.1.1 Market Size & Forecast

15.2    US

15.2.1 Market Size & Forecast

15.3    Canada

15.3.1 Market Size & Forecast

 

16        Latin America: Precision parts Market

16.1    Market Overview

16.1.1 Market Size & Forecast

 

17        Competitive Landscape

17.1    Market Structure and Mapping of Competition

17.1.1 Overview of Competition

 

18        Key Company Profiles

18.1    Renishaw plc

18.1.1 Business Overview

18.2    W.M. Berg Inc.

18.2.1 Business Overview

18.3    Beyonics Pte Ltd.

18.3.1 Business Overview

18.4    Precision Castparts Corp.

18.4.1 Business Overview

18.5    C. Brandauer & Co Ltd.

18.5.1 Business Overview

 

19        Other Prominent Companies

19.1    Aequs Pvt. Ltd.

19.2    Camcraft

19.3    MMI Precision Manufacturing Sdn Bhd

19.4    KKSP Precision Machining LLC

19.5    Ashley Ward Inc.

19.6    MOTHERSON ORCA PRECISION TECHNOLOGY GmbH

19.7    PEKO Precision Products Inc.

19.8    HEICO Corp.

19.9    Univac Precision Engineering Pte Ltd.

19.10  Dixi Cylindre SA

19.11  Quantitative Summary of Precision Parts Market 2016-2022

 

20        Appendix

20.1    List of Abbreviations

 

           

 

List of Exhibits        

Exhibit 1         Segmentation of Global Precision Parts Market

Exhibit 2         Key Geographies Definition

Exhibit 3         Primary Deterrents for End-users Identified Against having Integrated Precision Part Manufacturing    Facilities (100 responses)

Exhibit 4         Global Manufacturing Competitiveness Index Rankings by Country 2016 and 2022

Exhibit 5         Global Automation Expenditure Forecast 2016–2022 ($ billion)

Exhibit 6         Global Precision Parts Market by Revenue 2016−2022 ($ billion)

Exhibit 7         Five Forces Analysis 2016

Exhibit 8         Segmentation of Precision Parts Market by End-user

Exhibit 9         Comparison of Revenue Growth Rates in Precision Parts Market by End-user 2017–2022

Exhibit 10       Precision Parts Market by Watches 2016−2022 ($ billion)

Exhibit 11       Revenue of Precision Parts Market in Healthcare End-user Segment 2016 ($ billion)

Exhibit 12       Precision Parts Market in Healthcare 2016−2022 ($ billion)

Exhibit 13       Precision Parts Market in Aerospace 2016−2022 ($ billion)

Exhibit 14       Precision Parts Market in Aerospace Segment 2016 ($ billion)

Exhibit 15       Precision Parts Market in Electronics and Semiconductor Applications 2016 ($ billion)

Exhibit 16       New Facilities and Lines Starting Operation (Front-end, all probabilities) (Count)

Exhibit 17       Precision Parts Market in Electronics and Semiconductors 2016−2022 ($ billion)

Exhibit 18       Precision Parts Market in Automotive Applications in 2016 ($ billion)

Exhibit 19       Automotive Production Share of Key Countries (Volume) 2005–2016

Exhibit 20       Precision Parts Market in Automotive 2016−2022 ($ billion)

Exhibit 21       Precision Parts Market in Other End-user Applications in 2016 and 2022 ($ billion)

Exhibit 22       Manufacturing and Construction Industry Growth Forecast for India and China in 2016 and 2022

Exhibit 23       Segmentation of Precision Parts Market by Geography

Exhibit 24       Precision Parts Growth Rate Comparison by Geography 2017–2022

Exhibit 25       Precision Parts Market in APAC 2016−2022 ($ billion)

Exhibit 26       Sectoral Composition of Total Investments in Infrastructure in APAC 2016−2022

Exhibit 27       Precision Parts Market in China 2016−2022 ($ billion)

Exhibit 28       Precision Parts Market in Japan 2016−2022 ($ billion)

Exhibit 29       Precision Parts Market in Other APAC Countries 2016−2022 ($ billion)

Exhibit 30       Precision Parts in Other APAC Countries in 2016 and 2022 ($ billion)

Exhibit 31       Precision Parts Market in Europe 2016−2022 ($ billion)

Exhibit 32       Country-wise Segmentation of Precision Parts Market in Europe ($ billion)

Exhibit 33       Growth of Construction Sector in MEA 2010−2022

Exhibit 34       Precision Parts Market in MEA 2016−2022 ($ billion)

Exhibit 35       Precision Parts Market in North America 2016−2022 ($ billion)

Exhibit 36       Revenue Segmentation of Precision Parts Manufacturing in US 2016 ($ billion)

Exhibit 37       Precision Parts Market in US 2016−2022 ($ billion)

Exhibit 38       Revenue of Precision Parts in Canada 2016−2022 ($ billion)

Exhibit 39       Revenue of Precision Parts Market in Latin America 2016−2022 ($ billion)

Exhibit 40       Overview of Market Concentration in Various Geographies 2016 (as illustrated by HHI)

       

List of Tables

Table 1            Key Caveats

Table 2            Currency Conversion 2013−2016

Table 3            List of Some CAD Software – Open Source and Closed Source

Table 4            Geography-wise Mapping of Market Risks for Precision Part Manufacturers (Percentage of overall attributable risk)

Table 5            Spread of New Fab Facility Expansion 2017–2020

Table 6            Country-wise Automotive Production 2016 (in million units)

Table 7            Major Drivers for Precision Parts  Demand in Other APAC Countries

Table 8            Major End-user Industries for Precision Parts in Key European Countries 2016

Table 9            Renishaw’s Product Portfolio

Table 10         V.M. Berg’s Product Portfolio

Table 11         Global Precision Parts Market and Growth Rate for Geographies (2016–2022)

Table 12         Global Precision Parts Market and Growth Rate for Different End-users (2016–2022)

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