As per the latest report published by Fact.MR, a market research and competitive intelligence provider, the global flow calibration equipment market is expected to reach a valuation of US$ 8.7 Bn by the end of 2032 after expanding at a CAGR of 7.7% over the decade.
Convergence in the oil & gas industry promises a positive stance and dynamic changes in demand. Additionally, the momentum of core factors such as technological improvements are driving a shift in customer preference, including economic, political, and social disruption with the aid of technological advancements. Dynamically shifting customer preference towards advanced calibration equipment owing to the need for accurate and precise flow of fluids in the end-use industries is growing significantly, paving the way for flow calibration equipment market growth.
Volume flow meter demand has witnessed a swift and steady recovery from COVID-19 and has reached the pre COVID trajectory. Differential head volume flow meters accounted for roughly 34% of total volume flow meter calibration sales in 2021. Growing demand for volume flow meter calibration will subsequently emphasize flow calibration equipment market expansion.
Key Takeaways from Market Study
- The global flow calibration equipment market is poised to expand at a CAGR of 7.7% through 2032.
- On the basis of type, the market is dominated by the recalibration segment, which is projected to account for 70% market share by 2032.
- North America is likely to be most attractive region and utilize more than 304 Mn units of flow calibration equipment by 2032.
- By flow medium type, liquid (other than water) flow is likely to account for 2/3 revenue share and create an absolute $ opportunity of US$ 3.3 Bn over the assessment period.
- Volume flow meter calibration is projected to grow 2X by value, while mass flow meter calibration is set to grow 2.1X over the forecast period.
- The European region is expected to register a CAGR of 7.1% over the forecast period and be valued at US$ 2.4 Bn.
- Under end-use industry, the oil & gas sector is estimated to account for approximately a quarter of the market share in 2022, but is expected to lose 48 BPS by 2032.
”High frequency of recalibration in industrial manufacturing provides consistency in demand for calibration service providers, allowing for steady revenue generation,” says a Fact.MR analyst
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Standard machine manufacturing is an outdated approach of manufacturers, and thereby, with changing times, they are also changing their strategies and integrating new dynamic strategies. Prominent market players have started manufacturing customized products for specific purposes according to customers’ processes and operations.
To meet tailored requirements of the industry, market players are diversifying their product portfolios. Some flow calibration equipment manufacturers have started producing calibration for emerging, new end-use industries such as food processing & beverage and water management.
Horizontal and vertical integration of the business strategy is also giving manufacturers the opportunity to surge way ahead than other players. Moreover, providing options of different types of calibration equipment for in-house calibration devices – portable, benchtop, and fixed calibration equipment – is also emerging as a key market strategy.
More Valuable Insights Available
Fact.MR, in its new offering, presents an unbiased analysis of the global flow calibration equipment market, presenting historical demand data (2017-2021) and forecast statistics for the period of 2022-2032.
The study divulges essential insights on the market on the basis of type (calibration and recalibration), flow medium (water flow, liquid (other than water) flow, gas flow, air flow), flow meter type (volume (differential head type flow meters (orifice plates, venturi meters, annubar), differential area type flow meters (rotameters), electromagnetic flow meters, ultrasonic flow meters, turbine flow meters, vortex flow meters, positive displacement flow meters) and mass flow meters (coriolis mass flow meters, thermal mass flow meters)), calibration site (in-house, user site, laboratories), and end-use industry (agriculture, aerospace & defense, HVAC, power & energy, water management, oil & gas and petrochemicals, industrial manufacturing, pharmaceuticals, chemical industries, laboratories & institutions, others), across six major regions (North America, Latin America, Europe, East Asia, South Asia & Oceania, and the Middle East & Africa).
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