Instrument Calibration Services Market Competitive Landscape 2024-2033: Major Players and Strategies

Posted by ramacharitbrc on May 12th, 2024

Overview and Scope

Instrument calibration services refer to the process of adjusting and verifying the accuracy and precision of measurement instruments and equipment by comparing them with established standards. These services are performed by trained technicians or specialized calibration laboratories using calibrated reference standards and precise measurement procedures to ensure that instruments provide reliable and accurate measurements within specified tolerances.

Sizing and Forecast

The instrument calibration services market size has grown strongly in recent years. It will grow from .53 billion in 2023 to .67 billion in 2024 at a compound annual growth rate (CAGR) of 9.1%.  The growth in the historic period can be attributed to regulatory compliance, quality standards, industry growth, outsourcing trend, globalization, rising complexity of instruments, focus on preventive maintenance.

The instrument calibration services market size is expected to see strong growth in the next few years. It will grow to .40 billion in 2028 at a compound annual growth rate (CAGR) of 9.5%.  The growth in the forecast period can be attributed to growing healthcare sector, emergence of new industries, focus on sustainability, shift towards predictive maintenance, demand for accredited services. Major trends in the forecast period include integration of cloud-based systems, development of predictive maintenance solutions, collaboration between providers and manufacturers, adoption of remote capabilities, and increasing emphasis on data analytics.

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Segmentation & Regional Insights

The instrument calibration services market covered in this report is segmented –
1) By Type: Electrical Calibration Services, Mass Standards Calibration Services, Temperature Calibration Services, Other Types

3) By Application: Pharmaceutical And Biomedical, Industrial And Automotive, Electronics, Communication, Aerospace And Defense, Other Applications

4) By End-User: Manufacturing, Research And Development, Government And Defense, Other End Users

Asia-Pacific was the largest region in the instrument calibration services market in 2023. The regions covered in the instrument calibration services market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.

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Major Driver Impacting Market Growth

The expansion of industrial robots is expected to propel the growth of the instrument calibration services market going forward. Industrial robots are programmable mechanical devices used in manufacturing and industrial settings to automate various tasks traditionally performed by humans. The application of industrial robots is expanding rapidly due to technological advancements, globalization, labor shortages, and the skills gap by automating repetitive tasks. Calibration services maintain the accuracy and safety of industrial robots, ensuring reliable performance and compliance in manufacturing operations. For instance, in September 2023, according to the International Federation of Robotics, a Germany-based trade organization, industrial robot installations surged to a historic peak of 553,052 units in 2022, reflecting a notable 5% rise from the previous record of 517,385 units set in 2021. Therefore, the expansion of industrial robots is driving the growth of the instrument calibration services market.

Key Industry Players

Major companies operating in the instrument calibration services market are Siemens AG, Lockheed Martin, General Electric Company, ABB Group, CMS Energy, Eurofins Scientific, SGS S.A, Bureau Veritas, Tektronix, Fluke Corporation, Keysight Technologies Inc., Intertek Group PLC, Endress+Hauser, TÜV SÜD, Cal Inc., Rohde & Schwarz GmbH & Co KG, Transcat Inc., Mitutoyo Corporation, Technical Maintenance, ESSCO Calibration Laboratory, Trescal Inc., Tradinco Instruments, Optical Test and Calibration Ltd, GE Kaye, Micro Precision Calibration

The instrument calibration services market report table of contents includes:
1. Executive Summary

2. Market Characteristics

3. Market Trends And Strategies

4. Impact Of COVID-19

5. Market Size And Growth

6. Segmentation

7. Regional And Country Analysis

………..

27. Competitive Landscape And Company Profiles

28. Key Mergers And Acquisitions

29. Future Outlook and Potential Analysis