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Flow Calibration Equipment Market

Flow Calibration Equipment Market

Flow Calibration Equipment Market Analysis By Equipment Type (Calibration & Recalibration) By Flow Medium (Water Flow, Liquid (Other than Water), Flow Air Flow & Gas Flow) By Meter Type (Volume Flow Meters & Mass Flow Meters) By Calibration Site, End Use & Region till 2032

Flow Calibration Equipment Market
FACT6937MR

Flow Calibration Equipment Market Outlook (2022-2032)

The global flow calibration equipment market is set to be worth US$ 4.2 Bn in 2022, and is forecast to surge to a market valuation of US$ 8.7 Bn by the end of 2032, expanding at a CAGR of around 7.7% over the same period.

Report Attributes

Details

Flow Calibration Equipment Market Size (2021A)

US$ 3.9 Bn

Estimated Market value (2022E)

US$ 4.2 Bn

Forecasted Market value (2032F)

US$ 8.7 Bn

Global Industry Growth Rate (2022-2032)

7.7% CAGR

Europe Market Share (2022)

29.4%

Market Share of Top 5 Companies

~60%

Key Companies Profiled

  • ABB ltd
  • General Electric Company
  • Emerson Electric Co
  • Ametek Inc.
  • Endress+Hauser
  • Intertek Group plc
  • Cross Co
  • Keysight Technologies Inc.
  • Transcat, Inc
  • Essco Calibration Lab

Fact.MR, a market research and competitive intelligence provider, foresees thriving growth in demand for flow calibration equipment. A few decades ago, flow calibrator equipment systems were only used in vital industries such as oil & gas, aerospace, and defense. However, it has now become a key component in the current world of technology and electronics.

Flow meter calibration devices have unmatchable and incomparable applications in real-time scenarios for accurate and precise operations in end-use industries. Flow calibration equipment consumption accounted for nearly 26% of the global test and measurement equipment market in 2021.

Flow meter equipment calibration reduces future maintenance and repair costs and also increases the profitability of the operations. Additionally, fewer product recalls and device malfunctions lead to better results, which helps maintain increased sales and customer loyalty towards the brand.

Demand for thermal mass flow meter calibration is projected to increase as demand for hygiene practices in the food and beverages sector grows. It is anticipated that calibrating equipment will be used in R&D operations at a significant scale. Over the forecast period, demand from chemical industries is likely to witness significant growth and drive the growth of the market.

The product's adaptability is likely to provide a promising stance to developers and manufacturers. Diversity of application in various end-use sectors such as oil & gas, pharmaceuticals, agriculture, food & drinks, electrical & electronics, industrial manufacturing, chemicals, and other industries is projected to boost the sales flow calibration equipment over the years to come.

Flow Calibration Equipment Demand Analysis (2017-2021) Vs. Market Forecast Outlook (2022-2032)

According to the recent analysis by Fact.MR, a market research and competitive intelligence provider, utilization of flow calibration equipment witnessed a growth rate of 2.8% over the past half-decade.

The recalibration, segment by type, accounted for the highest market share in flow calibration equipment at approximately 68.2% in 2021.

Accelerating demand for volume flow meter calibration equipment in oil & gas fields is projected to provide a thrust to market development over the decade, especially in North America and Europe. Surging utilization of liquid (other than water) flow meter calibration in the aforementioned regions is projected to create an absolute $ opportunities of US$ 377.9 Mn over the decade.

Furthermore, surging use of thermal mass and Coriolis mass flow meter calibration in oil & gas as well calibration equipment is likely to supplement the growth of the market over the period of 2022-2032. Coriolis mass flow meter calibration equipment consumption is predicted to increase at a CAGR of 6.2% over the forecast period (2022-2032).

Flow Calibration Equipment Market forecast analysis by Fact.MR

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How Should Flow Calibration Equipment Manufacturers Strategize?

“Integration of Electronic Flow Calibration Devices to Create Market Opportunities

A lot of equipment is manually operated and are limited in their features. Old calibration methods were known as the 'Bucket and Stopwatch' system. However, owing to a dynamic shift, industrial technologies are also changing at a much faster pace than anticipated.

With the advent of computerized electronic devices, the flow calibration equipment industry is also integrating this technology and shifting from traditional to modern smart devices. Smart and digitally-connected operation facilities employ advanced technologies such as AI and IoT, and are connected through wireless networks.

With increasing customer inclination towards accuracy and precision, the sale of smart and digital technology-based flow calibration equipment has increased, thus driving application opportunities for flow calibration equipment.

“Industry 4.0 & 5.0 Trend to Provide Inevitable Boost to Innovation”

Increasing focus on technology implementation along with digital enablement using AI and machine learning reflect a new generation transformation mindset for effective cost management.

From HVAC to electronics and jet engines, it takes a lot of energy to power our daily lives. For this, next-generation technology based on IR4.0 and IR 5.0, with an energy-efficient standard that helps reduce operational costs by integrating technology such as a self-cleaning systems, will certainly boost demand for flow calibration systems.

Responding to the growing need for flow meter calibration equipment that can overcome many shortcomings, many manufacturers have started integrating new technologies in calibration, such as Sound Acoustic Wave (SAW).

“Recalibration Frequency and Turnaround Time to Provide Ample Scope for Growth”

Based on this Fact.MR study, every flow meter has to be recalibrated after 1 to 2 years of service for accurate and precise results in operations. There are no established standards for the recalibration frequency, but they are recalibrated at the time of yearly maintenance.

With the integration of advanced technologies in calibration services, the turnaround time for calibration of flow meters has come down to 24 hrs from 2 to 3 days. This provides ample amount of scope for the flow calibration equipment demand growth in the forecast period.

How is Flow Calibration Equipment Market Growth Being Impeded?

“Rising Price Complexity to Affect Sales of Flow Calibration Equipment”

One of the potential restraints for flow meter calibration device consumption is the high production cost and unavailability of key raw materials, thereby resulting in price complexity. This is because flow meter calibration equipment costs more to produce and is manufactured using costly material that has higher life.

Additionally the material is more durable and tolerant to environmental effects. Materials such as nickel carbide, ceramics, aluminum, brass, and PVDF are limited in availability in the market. Also getting certifications from different countries can be costly, and that’s why flow calibration equipment does tend to cost more.

An average flow calibration system costs around US$ 5,000 - US$ 7,000. This is where research can be important to overcome this restraint, aiding manufacturers to enjoy higher unit sales and profit margins.

An Adaptive Approach to Modern-day Research Needs

Country Wise Analysis

Why is China a Huge Market for Flow Calibration Equipment?

A significant number of investments are being made in the development of flow calibration equipment in the dynamic industrial goods industry in China. These flow calibration equipment are equipped with advanced technology, which will minimize calibration errors.

The China flow calibration equipment market is predicted to expand at a CAGR of 7.7% as a result of these factors. Increasing number of manufacturers are providing these platforms at less cost, which would aid market expansion.

The China market for flow calibration equipment and valves is expected to reach a valuation of US$ 194 Mn by the end of the forecast period.

Will Industrial Advancements in the U.S. Drive Sales of Flow Calibration Systems?

The United States of America has caught significant attention of market players because of large-scale industrialization and rising urbanization in the country. Many organizations have undertaken large expansion efforts in the country by opening new factories and launching new products.

Companies are also going for vertical and horizontal expansion. The United States flow calibration systems market is expected to reach a valuation of US$ 158.8 Mn in 2022.

Category wise Insights

Why Should Flow Calibration Equipment for Oil & Gas and Petrochemicals Be the Focus of Manufacturers?

Currently, different oils & gases are used comprehensively to power the world, and their consumption is increasing exponentially. Additionally, the natural gas and shale gas market is increasing rapidly, and owing to demand for environment conservation, a multitude of advancements are being made in the fields of oil & gas and petrochemicals.

The oil & gas and petrochemicals sectors will enjoy a valuation of around US$ 932.4 Mn in 2022, and the segment is expected to reach a market valuation of US$ 1.9 Bn by the end of 2032.

Oil & gas industries usually deal in bulk quantities. In-house flow calibration systems are installed in oil & gas companies to save time and money. It is common for these industries to have flow meters and values permanently installed. This helps in carrying out the calibration process at any time.

The performance of natural gas and oil can largely influence its billing. Accuracy of gas flow calibration equipment and volume flow meter calibration equipment is a key factor in billing, and therefore, demand for flow calibration equipment in the oil & gas industry is very high

Will In-house Calibration Witness Accelerated Growth?

In laboratory calibration, flow meter and calibrating equipment is subjected to the risk of possible contamination as well as mechanical wear and tear. Since this form of calibration method is costly and timely, it being less demanded in the calibration market.

However, there is rising demand for all-in-one products that provide an automated in-house flow calibration service, which minimizes the need for skilled manpower to carry out calibration tasks without causing disruption to the operations.

Some industries are in need of timely calibration to ensure high accuracy; in-house calibration can also provide industries with an option to remotely calibrate the process. This results in lower costs for the business with the same provision for calibration.

In-house calibration is likely to hold a market valuation of US$ 2.1 Bn in 2022 and expand at a CAGR of around 8% over the decade.

Competitive Landscape

Fact.MR has profiled the following key flow calibration equipment manufacturers in its report - ABB, Ametek Inc., Badger Meter, Cadillac Meter, Cross Company, Emerson Electric Co., Endress+Hauser (India) Pvt. Ltd., ESSCO Calibration Laboratory, Flow Technology, Fluke Corporation, FORCE Technology, General Electric Company, iCenta Controls Ltd, Integrated Flow Solutions, Intertek Group plc, Keysight Technologies Inc., Laboratory Testing Inc., Lambda Square, Inc., Micro Precision Calibration Inc., Nagman, Process Control Devices, S.K.I.GmbH., Sino-Inst Flow meters, TecQuipment Ltd., Transcat, Inc., VENTURI CALIBRATION SERVICES spol. s r.o., and Young Calibration Limited.

These key market players are constantly innovating product designs to meet modern-day challenges pertaining to component placement in the calibration environment. 

Companies are entering into collaborations and partnerships with end-use industries for regular recalibration. Owing to high frequency of recalibration, market players are able to leverage maintenance while witnessing consistency in demand.

Market participants are channelizing their resources and capital, focusing on lucrative end uses while trying to expand their customer base. All in all, a blend or organic and inorganic grow strategies is allowing companies to capture a significant market share in highly-competitive markets.

  • ABB, in May 2021, incorporated power supply through Ethernet connectivity onboard the latest edition of its mass flow meter - CoriolisMaster and electromagnetic flow meter - ProcessMaster, opening a new chapter in industrial communication and instrumentation.
  • In November 2021, Young Calibration Ltd announced its acquisition by NMi.

Key Segments of Flow Calibration Equipment Industry Research

  • Flow Calibration Equipment Market by Type:

    • Calibration
    • Recalibration
  • Flow Calibration Equipment Market by Flow Medium:

    • Water Flow
    • Liquid (Other than Water) Flow
    • Air Flow
    • Gas Flow
  • Flow Calibration Equipment Market by Flow Meter Type:

    • Volume Flow Meters
      • Differential Head Type
        • Orifice Plates
        • Venturi Meters
        • Annubar
      • Differential Area Type (Rotameters)
      • Electromagnetic Flow Meters
      • Ultrasonic Flow Meters
      • Turbine Flow Meters
      • Vortex Flow Meters
      • Positive Displacement Meters
    • Mass Flow Meters
      • Coriolis Mass Flow Meters
      • Thermal Mass Flow Meters
  • Flow Calibration Equipment Market by Calibration Site:

    • In-house
    • User Site
    • Laboratories
  • Flow Calibration Equipment Market by End-use Industry:

    • Agriculture
    • Aerospace & Defense
    • HVAC
    • Power & Energy
    • Water Management
    • Oil & Gas and Petrochemicals
    • Industrial Manufacturing
    • Pharmaceuticals
    • Chemical Industry
    • Laboratories & Institutes
    • Others
  • Flow Calibration Equipment Market by Region:

    • North America Flow Calibration Equipment Market
    • Latin America Flow Calibration Equipment Market
    • Europe Flow Calibration Equipment Market
    • East Asia Flow Calibration Equipment Market
    • South Asia & Oceania Flow Calibration Equipment Market
    • Middle East & Africa Flow Calibration Equipment Market

- FAQs -

The global flow calibration equipment market is likely to reach a valuation of US$ 8.7 Bn by the end of 2032.
Europe holds a leading market share of around 29.4% in 2022.
Liquid (other than water) flow application holds the highest market share of 64.2% in 2022.
Thermal mass flow meter calibration is expected to enjoy a CAGR of 5.8% during the forecast period.
Gas flow calibration equipment is likely to offer great growth prospects with a market valuation of US$ 1.8 Bn in 2032.
In-house calibration is expected to hold a market share of around 52% by 2032.

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Is the market research conducted by Fact.MR?

Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.

What research methodology is followed by Fact.MR?

Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.

What are the sources of secondary research?

Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.

Who are the respondents for primary research?

Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.

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