This research service analyzes the global trends in stationary CMM that was witnessing steady growth with demand predominantly from automotive and aerospace industries. Disruption caused by the onset of the COVID-19 pandemic resulted in demand contraction across these industries. The economic uncertainty resulted in customers being cautious about their capital expenditures while focusing on maintaining liquidity. Developed nations managed to curb the spread of virus through vaccination drives and restrictions in H2 2020, while many emerging economies continued to struggle. In 2021, the virus spread was further contained as more people got vaccinated. Although signs of demand recovery were seen toward the end of 2020 and during early 2021, it is unlikely to reach pre-COVID-19 levels. Supply chain disruption coupled with semiconductor chip shortage continues to create bottlenecks for manufacturers. The market for stationary CMM will see a marginal positive growth in 2021 driven mainly by automotive & machine shop industries. However, this is based on the assumption that there will be no new COVID-19 variants causing disruptions similar to H1 2020. The market for stationary CMM is likely to return to pre-COVID-19 levels during 2022 to 2023 as industries reach maximum plant utilization levels.
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