Flowmeter Calibration
PUBLISHED: 2024 ID: SMRC26288
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Flowmeter Calibration

Flowmeter Calibration Market Forecasts to 2030 - Global Analysis By Type (Differential Pressure Flowmeters, Velocity Flowmeters, Positive Displacement Flowmeters, Mass Flowmeters and Other Types), Calibration Type, Calibration Method, Flow Medium, End User and By Geography

4.2 (30 reviews)
4.2 (30 reviews)
Published: 2024 ID: SMRC26288

This report covers the impact of COVID-19 on this global market
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"According to Stratistics MRC, the Global Flowmeter Calibration Market is accounted for $5.0 billion in 2024 and is expected to reach $8.8 billion by 2030 growing at a CAGR of 9.7% during the forecast period. Flowmeter calibration refers to the process of determining and adjusting the accuracy of a flowmeter device by comparing its measurements against known standards or reference values. This calibration process ensures that the flowmeter provides accurate and reliable measurements of fluid flow rates. Calibration is typically performed periodically to maintain the accuracy of the flowmeter over time, especially in industries where precise flow measurements are critical, such as manufacturing, pharmaceuticals, and environmental monitoring.

Market Dynamics: 

Driver: 

Increasing demand for flow meters

The market is experiencing a notable surge in demand for flow meters, attributed to their pivotal role in measuring fluid flow rates accurately across various industries. As industries increasingly prioritize efficiency and accuracy in fluid flow measurement, the need for precise calibration of flow meters becomes paramount. This uptick in demand underscores the growing reliance on flow meters for optimizing processes and ensuring regulatory compliance, propelling the expansion of the market.

Restraint:

Lack of skilled personnel

In the market, a pressing challenge is the shortage of skilled personnel. With intricate calibration processes requiring specialized knowledge and expertise, finding qualified individuals to perform these tasks can be difficult. This scarcity can lead to delays in calibration services, impacting efficiency and potentially compromising accuracy. To address this issue, companies may need to invest in training programs or seek out partnerships with educational institutions to cultivate a skilled workforce capable of meeting industry demands.

Opportunity:

Growing focus on accuracy and precision

This trend is being primarily driven by stringent regulatory standards and the increasing demand for precise measurement in various industries such as oil and gas, water treatment, and chemicals. Manufacturers are investing significantly in advanced calibration technologies and methodologies to ensure that flow meters meet the strictest accuracy requirements. This emphasis on precision is reshaping the landscape of flowmeter calibration services and driving innovation in the industry.

Threat:

High cost of calibration

Calibration, crucial for ensuring accurate flow measurements, demands precision equipment and skilled personnel, contributing significantly to expenses. Moreover, the complexity of calibration procedures further drives up costs, impacting market dynamics. As industries increasingly rely on flow measurement accuracy for efficiency and regulatory compliance, addressing these cost challenges becomes imperative for stakeholders in the flowmeter calibration sector to maintain competitiveness and sustain growth.

Covid-19 Impact: 

The COVID-19 pandemic significantly impacted the Market, causing disruptions in operations and supply chains. Lockdown measures and reduced industrial activities led to a slowdown in demand for flowmeter calibration services. Many calibration service providers faced challenges in conducting on-site calibration due to travel restrictions and safety concerns. However, the market also witnessed a surge in demand for remote calibration solutions and digital services, driving innovation and adaptation within the industry to navigate through the pandemic's challenges.

The velocity flowmeters segment is expected to be the largest during the forecast period

The velocity flowmeters is expected to be the largest during the forecast period. These devices utilize principles such as ultrasonic, electromagnetic, or thermal dispersion to gauge flow rates. With their versatility and reliability, velocity flowmeters ensure precise calibration of flow measurement instruments across various industries including oil and gas, water treatment, and pharmaceuticals. Their ability to handle a wide range of fluids and operating conditions makes them indispensable tools for maintaining accuracy in flow measurement systems.

The food & beverage segment is expected to have the highest CAGR during the forecast period

The food & beverage segment is expected to have the highest CAGR during the forecast period. Just as a chef relies on the finest ingredients, calibration technicians depend on accurate measurements. Like a sommelier discerning subtle nuances, they meticulously calibrate flowmeters to ensure optimal performance. Much like the harmony of flavors in a well-crafted dish, precise calibration enhances efficiency and reliability, ensuring smooth operations across various industries reliant on flow measurement technology.

Region with largest share:

North America is projected to hold the largest market share during the forecast period driven by stringent regulatory requirements and the increasing demand for accurate measurement in industries such as oil & gas, water & wastewater, and chemicals. With a focus on enhancing operational efficiency and ensuring compliance, companies are investing in calibration services to maintain the accuracy and reliability of their flow measurement instruments. This trend is expected to fuel the market expansion further in the region.

Region with highest CAGR:

Asia Pacific is projected to hold the highest CAGR over the forecast period. Increasing investments in infrastructure projects, particularly in water management, energy, and manufacturing sectors, are boosting the demand for flowmeter calibration services. There's a growing awareness among industries about the importance of accurate flow measurement for process optimization, resource conservation, and cost reduction, leading to an increased adoption of calibration services.

Key players in the market

Some of the key players in Flowmeter Calibration market include General Electric Company, Emerson Electric Co, Ametek Inc., Endress+Hauser, Intertek Group plc, Cross Co, Keysight Technologies Inc., Transcat, Inc, Essco Calibration Lab, ABB ltd, Siemens, TriNova INC, Lambda Square, Fluke Calibration and TrigasFI GmbH.      

Key Developments:

In March 2024, Emerson released the Rosemount™ 9195 Wedge Flow Meter, a fully integrated solution consisting of a wedge primary sensor element, supporting components, and a selectable Rosemount pressure transmitter.

In July 2023, ABB Ltd. announced the opening of a new flowmeter calibration facility in its Minden, Germany factory. The facility includes water and air calibration rigs and will help ABB better serve its customers in the process industries by improving the quality and accuracy of its calibration capabilities.

Types Covered:
• Differential Pressure Flowmeters
• Velocity Flowmeters
• Positive Displacement Flowmeters
• Mass Flowmeters
• Other Types

Calibration Types Covered:
• Primary Standard Calibration
• Secondary Standard Calibration
• On-Site Calibration
• Off-Site Calibration

Calibration Methods Covered:
• Gravimetric Calibration
• Volumetric Calibration
• Master Meter Comparison
• Piston Prover Calibration
• Software-Based Calibration

Flow Medium Covered:
• Water Flow
• Liquid Flow
• Air Flow
• Gas Flow

End Users Covered:
• Oil & Gas
• Water & Wastewater
• Chemical & Petrochemical
• Food & Beverage
• Pulp and Paper
• Power Generation
• Pharmaceutical & Biotechnology
• Other End Users

Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan        
o China        
o India        
o Australia  
o New Zealand
o South Korea
o Rest of Asia Pacific    
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa 
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements

Free Customization Offerings: 
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances

Table of Contents

"1 Executive Summary       
         
2 Preface        
 2.1 Abstract       
 2.2 Stake Holders      
 2.3 Research Scope      
 2.4 Research Methodology     
  2.4.1 Data Mining     
  2.4.2 Data Analysis     
  2.4.3 Data Validation     
  2.4.4 Research Approach     
 2.5 Research Sources      
  2.5.1 Primary Research Sources    
  2.5.2 Secondary Research Sources    
  2.5.3 Assumptions     
         
3 Market Trend Analysis      
 3.1 Introduction      
 3.2 Drivers       
 3.3 Restraints      
 3.4 Opportunities      
 3.5 Threats       
 3.6 End User Analysis      
 3.7 Emerging Markets      
 3.8 Impact of Covid-19      
         
4 Porters Five Force Analysis      
 4.1 Bargaining power of suppliers     
 4.2 Bargaining power of buyers     
 4.3 Threat of substitutes     
 4.4 Threat of new entrants     
 4.5 Competitive rivalry      
         
5 Global Flowmeter Calibration Market, By Type    
 5.1 Introduction      
 5.2 Differential Pressure Flowmeters    
 5.3 Velocity Flowmeters     
 5.4 Positive Displacement Flowmeters    
 5.5 Mass Flowmeters      
 5.6 Other Types      
         
6 Global Flowmeter Calibration Market, By Calibration Type   
 6.1 Introduction      
 6.2 Primary Standard Calibration     
 6.3 Secondary Standard Calibration    
 6.4 On-Site Calibration      
 6.5 Off-Site Calibration      
         
7 Global Flowmeter Calibration Market, By Calibration Method   
 7.1 Introduction      
 7.2 Gravimetric Calibration     
 7.3 Volumetric Calibration     
 7.4 Master Meter Comparison     
 7.5 Piston Prover Calibration     
 7.6 Software-Based Calibration     
         
8 Global Flowmeter Calibration Market, By Flow Medium   
 8.1 Introduction      
 8.2 Water Flow      
 8.3 Liquid Flow      
 8.4 Air Flow       
 8.5 Gas Flow       
         
9 Global Flowmeter Calibration Market, By End User    
 9.1 Introduction      
 9.2 Oil & Gas       
 9.3 Water & Wastewater     
 9.4 Chemical & Petrochemical     
 9.5 Food & Beverage      
 9.6 Pulp and Paper      
 9.7 Power Generation      
 9.8 Pharmaceutical & Biotechnology    
 9.9 Other End Users      
         
10 Global Flowmeter Calibration Market, By Geography   
 10.1 Introduction      
 10.2 North America      
  10.2.1 US      
  10.2.2 Canada      
  10.2.3 Mexico      
 10.3 Europe       
  10.3.1 Germany      
  10.3.2 UK      
  10.3.3 Italy      
  10.3.4 France      
  10.3.5 Spain      
  10.3.6 Rest of Europe     
 10.4 Asia Pacific      
  10.4.1 Japan      
  10.4.2 China      
  10.4.3 India      
  10.4.4 Australia      
  10.4.5 New Zealand     
  10.4.6 South Korea     
  10.4.7 Rest of Asia Pacific     
 10.5 South America      
  10.5.1 Argentina     
  10.5.2 Brazil      
  10.5.3 Chile      
  10.5.4 Rest of South America    
 10.6 Middle East & Africa     
  10.6.1 Saudi Arabia     
  10.6.2 UAE      
  10.6.3 Qatar      
  10.6.4 South Africa     
  10.6.5 Rest of Middle East & Africa    
         
11 Key Developments       
 11.1 Agreements, Partnerships, Collaborations and Joint Ventures  
 11.2 Acquisitions & Mergers     
 11.3 New Product Launch     
 11.4 Expansions      
 11.5 Other Key Strategies     
         
12 Company Profiling       
 12.1 General Electric Company     
 12.2 Emerson Electric Co      
 12.3 Ametek Inc.      
 12.4 Endress+Hauser      
 12.5 Intertek Group plc      
 12.6 Cross Co       
 12.7 Keysight Technologies Inc.     
 12.8 Transcat, Inc      
 12.9 Essco Calibration Lab     
 12.10 ABB ltd       
 12.11 Siemens                  
 12.12 TriNova INC      
 12.13 Lambda Square      
 12.14 Fluke Calibration      
 12.15 TrigasFI GmbH             
         
List of Tables        
1 Global Flowmeter Calibration Market Outlook, By Region (2022-2030) ($MN) 
2 Global Flowmeter Calibration Market Outlook, By Type (2022-2030) ($MN) 
3 Global Flowmeter Calibration Market Outlook, By Differential Pressure Flowmeters (2022-2030) ($MN)
4 Global Flowmeter Calibration Market Outlook, By Velocity Flowmeters (2022-2030) ($MN)
5 Global Flowmeter Calibration Market Outlook, By Positive Displacement Flowmeters (2022-2030) ($MN)
6 Global Flowmeter Calibration Market Outlook, By Mass Flowmeters (2022-2030) ($MN)
7 Global Flowmeter Calibration Market Outlook, By Other Types (2022-2030) ($MN) 
8 Global Flowmeter Calibration Market Outlook, By Calibration Type (2022-2030) ($MN)
9 Global Flowmeter Calibration Market Outlook, By Primary Standard Calibration (2022-2030) ($MN)
10 Global Flowmeter Calibration Market Outlook, By Secondary Standard Calibration (2022-2030) ($MN)
11 Global Flowmeter Calibration Market Outlook, By On-Site Calibration (2022-2030) ($MN)
12 Global Flowmeter Calibration Market Outlook, By Off-Site Calibration (2022-2030) ($MN)
13 Global Flowmeter Calibration Market Outlook, By Calibration Method (2022-2030) ($MN)
14 Global Flowmeter Calibration Market Outlook, By Gravimetric Calibration (2022-2030) ($MN)
15 Global Flowmeter Calibration Market Outlook, By Volumetric Calibration (2022-2030) ($MN)
16 Global Flowmeter Calibration Market Outlook, By Master Meter Comparison (2022-2030) ($MN)
17 Global Flowmeter Calibration Market Outlook, By Piston Prover Calibration (2022-2030) ($MN)
18 Global Flowmeter Calibration Market Outlook, By Software-Based Calibration (2022-2030) ($MN)
19 Global Flowmeter Calibration Market Outlook, By Flow Medium (2022-2030) ($MN)
20 Global Flowmeter Calibration Market Outlook, By Water Flow (2022-2030) ($MN) 
21 Global Flowmeter Calibration Market Outlook, By Liquid Flow (2022-2030) ($MN) 
22 Global Flowmeter Calibration Market Outlook, By Air Flow (2022-2030) ($MN) 
23 Global Flowmeter Calibration Market Outlook, By Gas Flow (2022-2030) ($MN) 
24 Global Flowmeter Calibration Market Outlook, By End User (2022-2030) ($MN) 
25 Global Flowmeter Calibration Market Outlook, By Oil & Gas (2022-2030) ($MN) 
26 Global Flowmeter Calibration Market Outlook, By Water & Wastewater (2022-2030) ($MN)
27 Global Flowmeter Calibration Market Outlook, By Chemical & Petrochemical (2022-2030) ($MN)
28 Global Flowmeter Calibration Market Outlook, By Food & Beverage (2022-2030) ($MN)
29 Global Flowmeter Calibration Market Outlook, By Pulp and Paper (2022-2030) ($MN)
30 Global Flowmeter Calibration Market Outlook, By Power Generation (2022-2030) ($MN)
31 Global Flowmeter Calibration Market Outlook, By Pharmaceutical & Biotechnology (2022-2030) ($MN)
32 Global Flowmeter Calibration Market Outlook, By Other End Users (2022-2030) ($MN)
         
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.

List of Figures

RESEARCH METHODOLOGY


Research Methodology

We at Stratistics opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.

Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.

Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.

Data Mining

The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.

Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.

Data Analysis

From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:

  • Product Lifecycle Analysis
  • Competitor analysis
  • Risk analysis
  • Porters Analysis
  • PESTEL Analysis
  • SWOT Analysis

The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.


Data Validation

The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.

We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.

The data validation involves the primary research from the industry experts belonging to:

  • Leading Companies
  • Suppliers & Distributors
  • Manufacturers
  • Consumers
  • Industry/Strategic Consultants

Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.


For more details about research methodology, kindly write to us at info@strategymrc.com

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