What is Global Universal Balancing Machine Market?
The Global Universal Balancing Machine Market is a vast and dynamic sector that encompasses a wide range of machines used for balancing various components in different industries. These machines are designed to measure and correct imbalances in rotating parts, ensuring optimal performance and longevity. The market is global in nature, meaning it spans across all continents and caters to a multitude of industries. The universal balancing machines are used in a variety of applications, from automotive parts to household appliances, motor rotors, and more. They are essential in maintaining the balance of rotating parts, thereby reducing wear and tear, increasing lifespan, and improving overall performance.
Vertical Balancing Machine, Horizontal Balancing Machine in the Global Universal Balancing Machine Market:
Diving deeper into the Global Universal Balancing Machine Market, we find two main types of balancing machines: Vertical Balancing Machines and Horizontal Balancing Machines. Vertical Balancing Machines are designed to balance parts in a vertical orientation. They are typically used for parts that have a symmetrical shape, such as flywheels, brake discs, and clutches. On the other hand, Horizontal Balancing Machines are used for balancing parts in a horizontal orientation. These machines are commonly used for parts that are asymmetrical or have a complex shape, such as crankshafts and drive shafts. Both types of machines play a crucial role in various industries, ensuring the smooth operation of rotating parts.
Automobile Parts, Household Appliances, Moter Roter, Others in the Global Universal Balancing Machine Market:
The Global Universal Balancing Machine Market finds its application in several areas. One of the primary areas is Automobile Parts. These machines are used to balance various components in vehicles, such as engines, transmissions, and axles, ensuring smooth operation and reducing wear and tear. Another significant area is Household Appliances. Balancing machines are used in the production of various appliances, such as washing machines and refrigerators, to ensure their efficient operation. The Motor Rotor industry also heavily relies on these machines to balance the rotors in motors, ensuring their optimal performance. Lastly, these machines find their application in various other industries, highlighting their versatility and importance in the global market.
Global Universal Balancing Machine Market Outlook:
Looking at the market outlook for the Global Universal Balancing Machine Market, it is evident that the market is on a growth trajectory. In 2022, the market was valued at US$ 317.9 million and is expected to reach US$ 397.4 million by 2029, growing at a CAGR of 3.2% during the forecast period 2023-2029. The market is dominated by a few key players, including Schenck RoTec and Shimadzu Corporation, who collectively hold over 40% of the market share. Geographically, China is the largest market, accounting for about 30% of the market share, followed by Europe and North America, which hold about 20% and 10% of the market share, respectively. In terms of product type, vertical balancing machines dominate the market, accounting for over 70% of the market share. When it comes to application, automobile parts take the lead, accounting for about 30% of the market share.
| Report Metric | Details |
| Report Name | Universal Balancing Machine Market |
| Accounted market size in 2022 | US$ 317.9 million |
| Forecasted market size in 2029 | US$ 397.4 million |
| CAGR | 3.2% |
| Base Year | 2022 |
| Forecasted years | 2023 - 2029 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | Schenck RoTec, Shimadzu Corporation, DSK, Burke Porter, Abro Balancing, Hangzhou Jizhi Mechatronic Co.,Ltd, KOKUSAI INC, NAGAHAMA SEISAKUSHO LTD, American Hofmann Corporation, Jianping Dynamic Balancing Machine Manfacturing CO.,Ltd, CEMB, Hines, Haimer, Balance Systems, Shanghai Balance United Machinery Co., Ltd |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
