What are the latest figures on the measuring and control instruments market’s size and projected CAGR?
The measuring and control instruments market size has grown strongly in recent years. It will grow from $855.63 billion in 2024 to $923.53 billion in 2025 at a compound annual growth rate (CAGR) of 7.9%. The growth in the historic period can be attributed to energy sector growth, growing automotive manufacturing, telecommunications expansion, environmental monitoring, increased growth in mining and minerals industry.
The measuring and control instruments market size is expected to see strong growth in the next few years. It will grow to $1208.18 billion in 2029 at a compound annual growth rate (CAGR) of 6.9%. The growth in the forecast period can be attributed to renewable energy expansion, smart cities development, precision agriculture, space exploration, climate change monitoring. Major trends in the forecast period include smart sensors, automation and robotics, digitalization and connectivity, data analytics and artificial intelligence (AI), remote monitoring and control.
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What are the key forces behind the measuring and control instruments market’s growth in recent years?
Governments around the world are investing in the creation of smart cities, this is expected to increase the demand for measuring and control instruments for a variety of applications. Smart cities use search, detection, and navigation devices to ensure the safety of the citizens. They also use global positioning systems (GPS), machine-to-machine (M2M) communication, Wi-Fi, and radio frequency identification (RFID) technologies for effective communication. Overall, the smart city experience involves systems and objects interconnected through various technologies, such as local, wide, and wireless networks. The concept of smart cities is also gaining traction in developing nations such as China and India as well as in developed nations such as the EU. For instance, in China and India, almost 300 smart city pilots are currently planned. Further, the EU is actively promoting smart city initiatives, with funds for research and sustainability targets for member states. The establishment of smart cities will increase the demand for various types of navigational, measuring, electromedical, and control instruments, boosting the growth of the measuring and control instruments market.
What are the major segments of the measuring and control instruments market?
The measuring and control instruments market covered in this report is segmented –
1) By Type: Other Electrical Equipment, Electronic Products And Components, Navigational, Measuring, Electro medical And Control Instruments
2) By Mode: Online, Offline
3) By Sales Channel: OEM, After market
Subsegments:
1) By Other Electrical Equipment: Circuit Breakers, Relays, Switchgear, Transformers
2) By Electronic Products and Components: Sensors, Microcontrollers, Amplifiers, Power Supplies
3) By Navigational Instruments: GPS Systems, Radar Systems, Compasses, Navigation Software
4) By Measuring Instruments: Multimeters, Oscilloscopes, Calipers, Pressure Gauges
5) By Electro-medical Instruments: ECG Machines, MRI Machines, Patient Monitors, Blood Glucose Meters
6) By Control Instruments: Programmable Logic Controllers (PLCs), Distributed Control Systems (DCS), Control Valves, Process Automation Systems
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Which companies dominate the measuring and control instruments market?
Major companies operating in the measuring and control instruments market include Yokogawa Electric Corporation, Siemens AG, Thermo Fisher Scientific Inc., Schneider Electric SE, Honeywell International Inc., Emerson Electric Co., Agilent Technologies Inc., AMETEK Inc., Fortive Corporation, Hexagon AB, Keysight Technologies Inc., Advantest Corporation, Rohde & Schwarz GmbH & Co. KG, National Instruments Corporation, Teledyne Technologies Incorporated, VIAVI Solutions Inc., EXFO Inc., Anritsu Corporation, Malvern Panalytical GmbH, TSI Incorporated, GW Instek Co. Ltd., Analysis and Measurement Services Corporation (AMS), Liquid Instruments GmbH, Innovative Scientific Solutions Inc., Sequoia Scientific Inc., Teraview AG, Vista Clara Inc., Pessl Instruments GmbH, Casella Measurement Inc., OWON Instrument Co. Ltd., ADLINK Technology Inc.
What major trends will shape the measuring and control instruments market during the forecast period?
Interest rates globally are forecasted to rise in most of the developing and developed economies, during the forecast period, this is expected to limit new investments in the measuring and control instruments manufacturing market. Most countries across the world are raising interest rates to control inflation and also to limit the flow of capital out of the country. This is likely to affect new investments in terms of expansion, research, and development of new products. For instance, in October 2024, according to the House of Commons Library, a UK-based library and information resource of the lower house of the British Parliament, the Monetary Policy Committee (MPC) raised interest rates from 0.1% in December 2021 to 5.25% by August 2023 in response to surging inflation, which reached a peak of 11.1% in October 2022, thus limiting the growth of the measuring and control instruments market.
What are the key regional dynamics of the measuring and control instruments market, and which region leads in market share?
The countries covered in the measuring and control instruments market report are Australia, China, India, Indonesia, Japan, South Korea, Bangladesh, Thailand, Vietnam, Malaysia, Singapore, Philippines, Hong Kong, New Zealand, USA, Canada, Mexico, Brazil, Chile, Argentina, Colombia, Peru, France, Germany, UK, Austria, Belgium, Denmark, Finland, Ireland, Italy, Netherlands, Norway, Portugal, Spain, Sweden, Switzerland, Russia, Czech Republic, Poland, Romania, Ukraine, Saudi Arabia, Israel, Iran, Turkey, UAE, Egypt, Nigeria, South Africa.
What Does The Measuring and Control Instruments Market Report 2025 Offer?
The measuring and control instruments market research report from The Business Research Company offers global market size, growth rate, regional shares, competitor analysis, detailed segments, trends, and opportunities.
The measuring and control instruments produce navigational, measuring, electromedical, and control instruments. Examples of products made by these establishments are aeronautical instruments, appliance regulators and controls (except switches), laboratory analytical instruments, navigation and guidance systems, and physical properties testing equipment.
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