Balancing Machines Market Size, Share, Trends, Growth 2030

Balancing Machines Market

Balancing Machines Market By End-User Vertical (Medical Devices, Heavy Machinery, Power Generation, Aerospace, Automotive, and Others), By Machine Type (Portable Balancing Machines, Dynamic Balancing Machines, and Static Balancing Machines), and By Region - Global and Regional Industry Overview, Market Intelligence, Comprehensive Analysis, Historical Data, and Forecasts 2023 – 2030

Category: Heavy Industry Report Format : PDF Pages: 225 Report Code: ZMR-7715 Published Date: Oct-2023 Status : Published
Market Size in 2022 Market Forecast in 2030 CAGR (in %) Base Year
USD 110.26 Million USD 142.74 Million 3.29% 2022

Balancing Machines Industry Prospective:

The global balancing machines market size was worth around USD 110.26 million in 2022 and is predicted to grow to around USD 142.74 million by 2030 with a compound annual growth rate (CAGR) of roughly 3.29% between 2023 and 2030.

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Balancing Machines Market: Overview

Balancing machines are equipment categorized by measuring tools. They are used for the purpose of balancing machine parts that are rotating including fans, electric motors, disc drives, disc brakes, pumps, and propellers. Balancing machines typically consist of two pedestals rigidly placed together with bearings and suspensions placed on the top to support a mounting platform. These equipment are categorized into several components depending on the associated mechanisms. For instance, as per part shape requiring balancing, these machines are categorized as vertical or horizontal. In the former type, the part axis rotates in the vertical direction and the rotor is held using a clamping tool connected to the balancing spindle. In the horizontal variant, the rotor axis is placed horizontally and mounted on machine pedestals. Furthermore, the other two categories of balancing machines include soft-bearing and har-bearing. The soft-bearing variant is also known as displacement-measuring balancing machines and the operational frequency is more than the resonance frequency of the suspension. Hard-bearing machines, also known as Force measuring tools, have an operational frequency that is lower than the resonance frequency of the suspension.

Key Insights:

  • As per the analysis shared by our research analyst, the global balancing machines market is estimated to grow annually at a CAGR of around 3.29% over the forecast period (2023-2030)
  • In terms of revenue, the global balancing machines market size was valued at around USD 110.26 million in 2022 and is projected to reach USD 142.74 million, by 2030.
  • The balancing machines market is projected to grow at a significant rate due to the increasing emphasis on precision and quality control in manufacturing processes
  • Based on end-user vertical segmentation, automotive was predicted to show maximum market share in the year 2022
  • Based on machine type segmentation, dynamic balancing machines was the leading segment in 2022
  • On the basis of region, Asia-Pacific was the leading revenue generator in 2022

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Balancing Machines Market: Growth Drivers

Increasing emphasis on precision and quality control in manufacturing processes to drive market growth

The global balancing machines market is projected to grow owing to the rising focus and emphasis on precision and quality control during the manufacturing of industrial equipment, automotive parts, and automated units used in the aerospace sector along with other applications. For instance, the role of balancing machines in the growing automotive sector remains unquestionable. The tools are used in the production or manufacturing of all critical automobile components including wheels, tires, engine parts, brake drums & rotors, and axles & drive shifts among other components. The increasing investments in the global automotive sector driven by factors such as rising investments in public transport infrastructure, growing sales of passenger vehicles, and an expanding consumer base for electric vehicles (EVs) have pushed the automotive industry toward new heights resulting in higher demand for efficient balancing machines. These measuring equipment are essential in maintaining product quality which ultimately translates to higher safety for the end-users of the machines since properly aligned machine parts do not easily undergo wear and tear and are placed securely without any scope or malfunctioning when placed in operational mode.

Surging automation rate across end-user verticals to create more revenue

The rising rate of automation across end-user verticals is expected to directly contribute to the demand in the balancing machines industry. Automation is regarded as one of the few ways through which companies and businesses can survive in a highly competitive commercial market. Automation ensures past-faced production with no room for errors and consistent quality. The increasing rate of consumerism has pushed more players to adopt automated solutions requiring minimal human intervention.

Balancing Machines Market: Restraints

High cost of initial investment and regular maintenance expenses may restrict market growth

The global balancing machines market growth is expected to be impacted owing to the high cost of initial investment required to purchase balancing machines. These are heavy-weight tools made of exceptionally strong materials such as cast iron, brass, bronze, aluminum, and steel. Additionally, they are designed to deliver accurate results and leverage sophisticated technologies to ensure performance efficiency resulting in higher product cost, especially the tools used in heavy-duty industries such as automotive and aerospace. The total expense is further impacted due to the high-maintenance attribute of balancing machines making it difficult for new players to enter the market

Balancing Machines Market: Opportunities

Integration with advanced digital technologies and increased collaborative effort to create growth opportunities

The industry for balancing machines is likely to be positively impacted by the increasing integration of this equipment with modern digital technologies such as artificial intelligence (AI) and machine learning (ML). For instance, AI systems can help these machines automate certain balancing procedures depending on the input received. Other attributes of balancing machines such as maintenance and data analysis can be completely taken care of using AI and ML tools. Simultaneously, a growing shift toward sensor technology and industry 4.0 systems could create more expansion opportunities for the global market players. The increasing pressure on companies to reduce equipment downtime and ensure consistent product delivery along with higher demand for reduced vibration in industrial equipment and other technical machines such as vehicles and aircraft may together work in the favor of higher utilization of advanced balancing machines.

Increasing collaboration between machine suppliers and end-user companies to create expansion possibilities

An increasing globalization rate has been beneficial for all parties involved in the industry for balancing machines including service and product providers and consumers. A rising number of cross-border strategic collaborations between product suppliers and users is anticipated to help in further market expansion. For instance, in 2019, Schenck RoTec strengthened its long-standing partnership with Nagahama Seisakusho by supplying balancing machines made by Nagashama to its customers in India, Europe, and the US for tire-based applications.

Balancing Machines Market: Challenges

High dependence on skilled professionals and economic uncertainty to challenge market growth

The balancing machines industry size may be limited due to the requirement of skilled professionals and experts for operating balancing machines and analyzing output data for further applications. The growing shortage of manpower supply and the rising uncertainty over future economic conditions could impact expansion plans undertaken by balancing machine manufacturers, suppliers, and buyers.

Balancing Machines Market: Segmentation

The global balancing machines market is segmented based on end-user vertical, machine type, and region.

Based on end-user vertical, the global market segments are medical devices, heavy machinery, power generation, aerospace, automotive, and others. In 2022, the highest revenue was generated from the automotive segment since it is one of the largest consumers of balancing machines. The measuring tool is used for the accurate production of several automotive parts and the ongoing developments in the global automobile market are expected to drive segmental growth during the forecast period. As per reports by NAAMSA, South Africa’s automotive business council, the region witnessed an investment of ZAR 8,8 billion in the automotive sector in 2021.

Based on machine type, the balancing machines industry segments are portable balancing machines, dynamic balancing machines, and static balancing machines. In 2022, the highest demand was observed for dynamic balancing machines since they are highly versatile and have a significant application range as compared to the other two counterparts. Furthermore, they offer precise results and can be easily integrated with advanced systems. Compact dynamic machines may weigh between 220 pounds to 1100 pounds.

Balancing Machines Market: Report Scope

Report Attributes Report Details
Report Name Balancing Machines Market
Market Size in 2022 USD 110.26 Million
Market Forecast in 2030 USD 142.74 Million
Growth Rate CAGR of 3.29%
Number of Pages 225
Key Companies Covered CEMB S.p.A., Hofmann Maschinen- und Anlagenbau GmbH, Schenck RoTec GmbH, IRD Balancing, BKP Berolina Werkzeug-Kraftmessgeräte Prüfmaschinen GmbH, Haimer GmbH, Cimat S.A., KOKUSAI Co. Ltd., BalaDyne Systems, SBS - Schmitt Industries Inc., and others.
Segments Covered By End-User Vertical, By Machine Type, and By Region
Regions Covered North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA)
Base Year 2022
Historical Year 2017 to 2021
Forecast Year 2023 - 2030
Customization Scope Avail customized purchase options to meet your exact research needs. Request For Customization

Balancing Machines Market: Regional Analysis

Asia-Pacific will witness the highest growth rate during the projected period

The global balancing machines market is expected to witness the highest growth rate in Asia-Pacific driven by the surging rate of industrialization in Asian countries such as China, India, Japan, and other nations. In addition to this, these nations have exceptional infrastructure that allows them to invest in heavy machinery such as balancing machines further strengthened by rising efforts toward improving equipment performance to deliver exceptional results and meet consumer expectations. Furthermore, the presence of an extensive line of balancing machine manufacturers and easy access to crucial raw materials adds to the regional growth trend. China and India are rapidly expanding business presence in other emerging nations, specifically African nations which is expected to create a broader expansion scope for the industry players. For instance, in September 2023, Hinduja Group, a leading Indian conglomerate, announced its plans to invest heavily in Africa’s auto industry during the G20 summit.

Balancing Machines Market: Competitive Analysis

The global balancing machines market is led by players like:

  • CEMB S.p.A.
  • Hofmann Maschinen- und Anlagenbau GmbH
  • Schenck RoTec GmbH
  • IRD Balancing
  • BKP Berolina Werkzeug-Kraftmessgeräte Prüfmaschinen GmbH
  • Haimer GmbH
  • Cimat S.A.
  • KOKUSAI Co. Ltd.
  • BalaDyne Systems
  • SBS - Schmitt Industries Inc.

The global balancing machines market is segmented as follows:

By End-User Vertical

  • Medical Devices
  • Heavy Machinery
  • Power Generation
  • Aerospace
  • Automotive
  • Others

By Machine Type

  • Portable Balancing Machines
  • Dynamic Balancing Machines
  • Static Balancing Machines

By Region

  • North America
    • The U.S.
    • Canada
  • Europe
    • France 
    • The UK
    • Spain
    • Germany
    • Italy
    • Rest of Europe
  • Asia Pacific
    • China
    • Japan
    • India
    • South Korea
    • Southeast Asia
    • Rest of Asia Pacific
  • Latin America
    • Brazil
    • Mexico
    • Rest of Latin America
  • Middle East & Africa
    • GCC
    • South Africa
    • Rest of Middle East & Africa

Table Of Content

Methodology

FrequentlyAsked Questions

Balancing machines are equipment categorized by measuring tools. They are used for the purpose of balancing machine parts that are rotating including fans, electric motors, disc drives, disc brakes, pumps, and propellers.

The balancing machines market is projected to grow at a significant rate due to the increasing emphasis on precision and quality control in manufacturing processes.

According to study, the global balancing machines market size was worth around USD 110.26 million in 2022 and is predicted to grow to around USD 142.74 million by 2030.

The CAGR value of the balancing machines market is expected to be around 3.29% during 2023-2030.

The global balancing machines market is expected to witness the highest growth rate in Asia-Pacific.

The global balancing machines market is led by players like CEMB S.p.A., Hofmann Maschinen- und Anlagenbau GmbH, Schenck RoTec GmbH, IRD Balancing, BKP Berolina Werkzeug-Kraftmessgeräte Prüfmaschinen GmbH, Haimer GmbH, Cimat S.A., KOKUSAI Co., Ltd., BalaDyne Systems, and SBS - Schmitt Industries, Inc.

The report explores crucial aspects of the balancing machines market including a detailed discussion of existing growth factors and restraints while also browsing future growth opportunities and challenges that impact the market.

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