Overview and Scope
Industrial metrology refers to a component of the discipline used in the production industry. Metrology is most frequently used to ensure quality control by examining dimensional conformance.
Sizing and Forecast
The industrial metrology market size has grown strongly in recent years. It will grow from $10.37 billion in 2023 to $11.23 billion in 2024 at a compound annual growth rate (CAGR) of 8.2%. The growth in the historic period can be attributed to quality assurance requirements, manufacturing precision, globalization of supply chains, automotive industry growth, efficiency in production processes, quality standards compliance..
The industrial metrology market size is expected to see strong growth in the next few years. It will grow to $15.13 billion in 2028 at a compound annual growth rate (CAGR) of 7.7%. The growth in the forecast period can be attributed to rise of smart factories, demand for portable metrology solutions, development of advanced materials, space exploration and aerospace innovation, focus on miniaturization.. Major trends in the forecast period include customization in manufacturing, augmented reality (ar) applications, digital twin implementation, increased use of robotic metrology systems, growing adoption of 3d metrology..
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Segmentation & Regional Insights
The industrial metrology market covered in this report is segmented –
1) By Offering: Hardware, Software, Services
2) By Equipment: Coordinate Measuring Machine (CMM), Optical Digitizer and Scanner (ODS), Measuring Instruments, X-ray and Computed Tomography, Automated Optical Inspection, Form Measurement Equipment, 2D Equipment
3) By Application: Quality Control and Inspection, Reverse Engineering, Mapping and Modeling, Other Applications
4) By End-User Industry: Aerospace and Defense, Automotive, Semiconductor, Manufacturing, Other End-User Industries
North America was the largest region in the industrial metrology market share in 2023. The regions covered in the industrial metrology market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
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Major Driver Impacting Market Growth
The surging adoption of hybrid and electric vehicles is expected to boost the growth of the industrial metrology market going forward. Hybrid electric vehicles refer to those that employ both an internal combustion engine and one or more electric motors that draw electricity from batteries to operate. Since electric vehicle (EV) gears are essential for extending range, metrology helps to ensure that the process of making them is optimal, which is boosting the growth of the industrial metrology market. For instance, according to a report published by the International Energy Agency (IEA), a France-based provider of secure and sustainable energy, in 2022, the global number of electric vehicles on the road will reach 16.5 million. In 2021, the sales share of electric vehicles rose by 4 percentage points. According to the Net Zero Emissions by 2050 Scenario, there will be more than 300 million electric vehicles on the road by 2030, and they will make up 60% of all new car sales. Therefore, the surging adoption of hybrid and electric vehicles is driving the growth of the industrial metrology market.
Key Industry Players
Major companies operating in the industrial metrology market report are Hexagon AB, Carl Zeiss AG, Nikon India Pvt. Ltd., Faro Technologies, Keyence Corporation, Jenoptik AG, CREAFORM, KLA Corporation, Mitutoyo Corporation, Renishaw PLC., Precision Products Inc., Carmar Accuracy Co. Ltd., Baker Hughes, CyberOptics, Cairnhill Metrology, Applied Materials Inc., GOM GmbH, ILJIN Steel Co., In-Situ Oxidative Technologies Inc., National-Oilwell Varco Inc., Nippon Steel & Sumitomo Metal Corporation, WENZEL Group GmbH & Co. KG, Perceptron, QED ENVIRONMENTAL SYSTEMS Ltd., Sequoia Environmental Remediation Inc., Spartan Chemical Company Inc., Stepan Company, Tarmac International Inc., Tenaris SA, TMK Ipsco Enterprises Inc. .
The industrial metrology market report table of contents includes:
1. Executive Summary
2. Industrial Metrology Market Characteristics
3. Industrial Metrology Market Trends And Strategies
4. Industrial Metrology Market – Macro Economic Scenario
5. Global Industrial Metrology Market Size and Growth
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31. Global Industrial Metrology Market Competitive Benchmarking
32. Global Industrial Metrology Market Competitive Dashboard
33. Key Mergers And Acquisitions In The Industrial Metrology Market
34. Industrial Metrology Market Future Outlook and Potential Analysis
35. Appendix
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