Calibration equipment is a series of tools or devices used to determine the readings of measuring instruments or systems. The purpose is to evaluate the error of the measured equipment by comparing it with high-precision standard equipment, and to correct its indication data accordingly. Calibration equipment is widely used in the adjustment and calibration process of various measuring instruments to ensure the accuracy of measurement results.
Overview of Market Development
Thanks to the rapid development of downstream industries such as chemical, petroleum, and electricity, the global calibration equipment market has shown a steady growth trend in recent years. According to our research data, the estimated global market size for calibration equipment in 2024 is $947 million, an increase of 4.26% compared to 2023. In the coming years, it is expected that the market will continue to maintain a stable growth trend. By 2029, the global market size for calibration equipment may increase to $1180 million. The CAGR for 2024-2029 is estimated to be 4.50%.
Regional Market Analysis
From a regional perspective, global calibration equipment market is mainly concentrated in North America, Europe, and the Asia Pacific region. These three major regions account for over 90% of the global market share in the calibration equipment market size. Among them, North America is the largest revenue market. Data shows that the revenue of the North American calibration equipment market is expected to reach $356 million in 2024, with an estimated market share of 37.56%; The European and Asia Pacific markets are expected to rank second and third with market shares of 28.21% and 27.89%, respectively.
Global Calibration Equipment Market Size and Market Share by Region Forecast
Source: www.globalmarketmonitor.com
Segmented Market Analysis
From the perspective of product types, calibration equipment can usually be divided into pressure calibration equipment and temperature calibration equipment based on their different functions and measurement requirements. Data shows that in 2024, the revenue of the global pressure calibration equipment and temperature calibration equipment segments is expected to reach $326 million and $349 million, respectively, with estimated market shares of 34.42% and 36.85%, respectively.
From the perspective of downstream application patterns, calibration equipment is widely used in chemical, metallurgical, petroleum, and power industries. Among them, the power industry is the largest downstream application market, with an estimated application share of 27.56% in 2024.
Global Calibration Equipment Segment Market Size and Market Share Forecast in 2024
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Market Size (Million USD)
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Market Share
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Segmented by Type
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Pressure Calibration Equipment
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326
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34.42%
|
|
Temperature Calibration Equipment
|
349
|
36.85%
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|
Others
|
273
|
28.83%
|
|
Segmented by Application
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|
Chemical Industry
|
164
|
17.32%
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|
Metallurgical Industry
|
174
|
18.37%
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Petroleum Industry
|
178
|
18.80%
|
|
Power Industry
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261
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27.56%
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|
Others
|
171
|
18.06%
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Source: www.globalmarketmonitor.com
For more industry information, please refer to our latest released"2023 Global Calibration Equipment Market Analysis Report, Key Competitors, Market Effect Factors, Growth, And Forecast".
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