Calibration Equipment Market - Size, Industry Share, Growth Trends and Forecasts (2023 - 2030)

By Type :

The type segment is classified into pressure calibration, temperature calibration, mechanical calibration, electrical calibration, radiological calibration, optical calibration, thermodynamic calibration, pipette calibration, and flow calibration. Electrical calibration accounted for the largest market share in 2022 owing to the strict regulatory standards and quality requirements to ensure the safety, accuracy, and reliability of electrical instruments in industries. The calibration of electrical equipment plays a crucial role in meeting compliance requirements, thus contributing notably in boosting the market growth. Additionally, electrical instruments including oscilloscopes, power analyzers, signal generators, and electronic loads require accurate calibration to ensure correct measurements and maintain traceability. Consequently, the growing need of specialized calibration equipment to efficiently calibrate electrical instruments is contributing remarkably in spurring the market growth. For instance, in July 2022, Fluke Corporation launched Fluke Calibration 5560A multi-product electrical calibrator with improved performance to provide accurate electrical workload coverage. The calibrator encompasses 30 A continuous current output that prevents the equipment from overheating and also reduces the wait time, thus contributing considerably in propelling the market growth.

The temperature calibration is anticipated to witness the fastest CAGR in the calibration equipment market during the forecast period. The growth is credited to the advancements in technology that have led to the development of sophisticated temperature control systems, including precision ovens, environmental chambers, and thermal chambers. The systems require accurate calibration to ensure uniform and stable temperature profiles that raise the demand for temperature calibration equipment, which in turn, promotes market growth. Additionally, thermal imaging cameras and infrared thermometers are widely utilized for non-contact temperature measurements in various applications, including building diagnostics, industrial maintenance, and electrical inspections. The devices require periodic calibration to maintain accuracy, further driving the growth of the temperature calibration equipment segment during the forecast period.

By End-User :

The end-user segment is classified into metallurgy, chemical, power, petroleum, aerospace and defense, electronics, automotive, food and beverages, and others. Chemical industry accounted for the largest market share of 16.5% in 2022 as calibration equipment is utilized to calibrate and verify the accuracy of process instruments namely pressure transmitters, temperature sensors, flow meters, level sensors, pH meters, conductivity meters, and analytical instruments. Accurate calibration of aforementioned instruments is essential for precise control of chemical processes, ensuring product quality and safety. In addition, safety is paramount in the chemical industry, and safety instrumented systems play a vital role in preventing and mitigating accidents. Calibration equipment is employed to calibrate safety devices including pressure gas detectors, flame detectors, unknown chemicals, and alarm systems. Proper calibration ensures that the safety systems operate reliably and respond appropriately to abnormal conditions, thus contributing significantly in bolstering the market growth. For instance, in March 2023, Eurofins Scientific SE launched Chem-ST, a smart chemical testing tool to detect the presence of unknown chemicals and quantify all notable chemicals. The chemical calibration equipment analyzes the sample with high accuracy and eliminates the need for costly traditional testing assessments, hence contributing remarkably in driving the growth of the chemical calibration equipment segment.

The power industry is predicted to witness the fastest CAGR in the calibration equipment market during the forecast period. The growth of the market is endorsed by the increasing adoption of calibration equipment to validate the accuracy of instruments and devices used in power generation facilities. The instruments include sensors, transmitters, recorders, meters, and control systems that measure parameters including voltage, current, power, frequency, and energy. In addition, calibration is essential for the accurate measurement and monitoring of electrical parameters in transmission and distribution systems. Calibration equipment is used to authenticate the accuracy of instruments including power transformers, current transformers, potential transformers, circuit breakers, protective relays, and power quality analyzers. Subsequently, the aforementioned factors are collectively responsible in fueling the growth of calibration equipment in the power industry during the forecast period.

By Region :

The regional segment includes North America, Europe, Asia Pacific, Middle East and Africa, and Latin America.

North America accounted to the largest revenue share of USD 170.15 Million in 2022 and is expected to reach USD 282.04 Million in 2030 in the calibration equipment market. In addition, in the region, United States accounted for the maximum revenue share of 53.40% in the year 2022 as the region has stringent regulatory standards and quality requirements in industries namely healthcare, pharmaceuticals, and aerospace. Compliance with the regulatory standards necessitates regular calibration of instruments, increasing the demand for accurate calibration equipment to meet regulatory standards.

Additionally, North American industries have a strong emphasis on quality control and product safety, further increasing the demand of calibration equipment to ensure product quality. Moreover, the presence of key players in the region including Fluke Corporation, Meriam Process Technologies, and Additel Corporation are investing heavily in research and development to drive advancements in measurement technology. Consequently, the increasing investment by key players and the implementation of stringent regulatory standards are the major factors driving the growth of the calibration equipment market in North America.

For instance, in August 2021, Fluke Corporation launched P5514B hydraulic pressure comparator for calibrating switches, gauges, and transducers with precise fine adjustment capabilities. The product is equipped with Vernier fine adjustment control to generate pressure up to 10,000 psi with improved reservoir valve sealing, thus contributing considerably in propelling the market growth.