NEW
YORK, Aug. 12, 2024 /PRNewswire/ -- The
global flowmeter calibration market size is estimated to grow
by USD 80.9 million from 2024-2028,
according to Technavio. The market is estimated to grow at a
CAGR of almost 10.88% during the forecast period. Calibration
eliminates uncertainty of flowmeters is driving market
growth, with a trend towards emergence of online
monitoring and self-contained field calibration.
However, calibration is not always reliable poses a challenge.
Key market players include ABB Ltd., Azbil Corp., Badger Meter
Inc., Brooks Instrument LLC, Colorado Engineering Experiment
Station Inc., Emerson Electric Co., Endress Hauser Group Services
AG, Euroloop Calibrations BV, Fortive Corp., HOFFER FLOW CONTROLS
INC., Honeywell International Inc., KROHNE Messtechnik GmbH,
Laboratory Testing Inc., Polycontrols Technologies Inc., Schneider
Electric SE, Siemens AG, Sierra Instruments Inc., TransCanada
Calibrations Ltd., VSL BV, and Yokogawa Electric Corp.
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Forecast
period
|
2024-2028
|
Base Year
|
2023
|
Historic
Data
|
2018 - 2022
|
Segment
Covered
|
End-user (Oil and gas,
Water and wastewater, Mining and minerals, Chemicals, and Others),
Distribution Channel (OEM service providers and Third-party service
providers), and Geography (Europe, North America, APAC, Middle East
and Africa, and South America)
|
Region
Covered
|
Europe, North America,
APAC, Middle East and Africa, and South America
|
Key companies
profiled
|
ABB Ltd., Azbil Corp.,
Badger Meter Inc., Brooks Instrument LLC, Colorado Engineering
Experiment Station Inc., Emerson Electric Co., Endress Hauser Group
Services AG, Euroloop Calibrations BV, Fortive Corp., HOFFER FLOW
CONTROLS INC., Honeywell International Inc., KROHNE Messtechnik
GmbH, Laboratory Testing Inc., Polycontrols Technologies Inc.,
Schneider Electric SE, Siemens AG, Sierra Instruments Inc.,
TransCanada Calibrations Ltd., VSL BV, and Yokogawa Electric
Corp.
|
Key Market Trends Fueling Growth
New technologies, such as online monitoring and self-contained
field calibration, are transforming the flowmeter calibration
market. These advancements necessitate robust calibration protocols
for maintaining accuracy. Self-contained field calibration devices,
like magmeters, thermal mass, or dual-rotor turbine meters, support
online monitoring and calibration. These systems keep historical
data records, reducing downtime and associated risks. Online
calibration maintenance software, a cost-effective investment,
stores data, displays results, and evaluates flowmeter performance
and lifespan. The flowmeter's performance, influenced by
environmental and fluid conditions, determines the calibration
lifespan, ensuring longer retention across various
applications.
The Flowmeter Calibration Market is experiencing significant
growth due to increasing demands in various industries, including
chemicals, HVAC, jet engines, and wastewater treatment. Modern
flowmeters, such as Coriolis, Turbine, and Magnetic, are trending,
with the implementation of AI, IoT, and wireless networks for
digital enablement and real-time scenarios. Precision and accuracy
are crucial for industries like pharmaceuticals, agriculture, and
food and drinks, driving the need for advanced calibration
technology. Chemical industries, OEMs, and raw material
manufacturers require frequent calibration to maintain production
efficiency and reduce repair costs from device malfunctions.
Laboratory calibration and in-house calibration are popular
methods, with contamination control and skilled manpower essential
for maintaining calibration accuracy. Industries like oil and gas,
aerospace, defense, electronics, and water and wastewater treatment
are investing in advanced flow calibration equipment for cost
management and disruption mitigation. Sanitary applications and
hygiene practices are also crucial for industries like food and
drinks. The future of flowmeter calibration lies in technology
implementation, machine learning, and cost-effective
solutions.
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Market Challenges
- Flowmeter calibration is a crucial process for ensuring
accurate measurement of fluid flow. End-users conduct calibration
according to a scheduled plan. Calibration involves comparing the
flowmeter with a standard and correcting any deviation. Flowmeters
can be calibrated in certified laboratories like NIST, ensuring
master meter accuracy and NIST certification. Alternatively,
calibration can be done using an accurate weigh scale approved by
NIST. However, calibrated conditions may lead to inaccuracies when
used in specific applications. For instance, a flowmeter calibrated
in clean water may not accurately measure wastewater with high
suspended solids. Unexpected turbulence, pipe length, material,
roughness, and incident angle can also impact performance and lead
to systematic, random, and spurious errors. As a professional, it's
essential to consider these factors to maintain measurement
accuracy.
- The Flowmeter Calibration Market faces several
challenges in various industries such as chemicals,
HVAC, jet engines, and water and wastewater. These challenges
include the implementation of modern smart devices, AI,
IoT, and wireless networks for digital enablement
and machine learning. Ensuring accuracy and precision in
calibration is crucial for industries dealing with raw materials
and industrial activities. Cost management is a significant concern
for OEMs using Coriolis, Turbine, Magnetic flow
meters, and other flow measurement technologies in sanitary
applications for sectors like pharmaceuticals, agriculture, food
and drinks, electronics, and oil and gas. Calibration frequency,
contamination, and skilled manpower are key factors impacting
calibration costs and device malfunctions. Disruptions due to
in-house calibration and hygiene practices in industries like
aerospace, defense, and HVAC are also challenges.
Real-time scenarios require efficient calibration solutions to
minimize repair costs and ensure optimal performance. Calibration
laboratories play a vital role in maintaining the accuracy of flow
meters in various applications. However, factors like contamination
and calibration frequency pose challenges to the calibration
process. In conclusion, the flow meter market demands continuous
innovation and cost-effective solutions to address these
challenges.
For more insights on driver and
challenges - Download a Sample Report
Segment Overview
This flowmeter calibration market report extensively covers
market segmentation by
- End-user
- 1.1 Oil and gas
- 1.2 Water and wastewater
- 1.3 Mining and minerals
- 1.4 Chemicals
- 1.5 Others
- Distribution Channel
- 2.1 OEM service providers
- 2.2 Third-party service providers
- Geography
- 3.1 Europe
- 3.2 North America
- 3.3 APAC
- 3.4 Middle East and
Africa
- 3.5 South America
1.1 Oil and gas- In the oil and gas sector, flowmeters
play a crucial role in managing the transportation of various
fluids and gases through pipelines. The velocity of the medium in
these pipes can change continuously due to factors like internal
diameter and roughness, necessitating calibration services using
the same fluid and ideal pipework setup. Calibration is essential
as flowmeters must operate accurately in the oil and gas industry's
specific conditions. Uneven velocity distribution impacts
measurement values, but calibration ensures precise fiscal
measurements under challenging situations and varying environmental
conditions. Regular calibration services reduce maintenance and
repair costs for end-users. The oil and gas industry's reliance on
flowmeters and the necessity for their accurate calibration will
fuel market growth during the forecast period.
For more information on market segmentation with geographical
analysis including forecast (2024-2028) and historic data (2018 -
2022) - Download a Sample Report
Market Research Overview
The Flowmeter Calibration Market encompasses various industries
such as oil and gas, aerospace, defense, electronics, and more,
requiring regular calibration of their flow measurement equipment
for optimal performance. Real-time scenarios demand precise and
accurate measurement, and calibration is crucial to prevent costly
repair costs due to device malfunctions. Hygiene practices are
essential in industries like pharmaceuticals, food and drinks, and
chemical industries to ensure product quality and safety. Flow
calibration equipment finds extensive applications in modern
industries like industrial manufacturing, electrical and
electronics, and HVAC systems. The integration of technology such
as AI, IoT, and wireless networks enhances digital enablement and
cost management. Calibration frequency is a critical factor, with
laboratory calibration ensuring high accuracy and precision.
Contamination and skilled manpower are significant challenges,
while in-house calibration offers cost savings and disruption
reduction. Raw materials and industrial activities necessitate
various flow meter types like Coriolis, Turbine, Magnetic, and
Sanitary applications, catering to diverse sectors like water and
wastewater treatment, OEMs, and wastewater treatment. Accuracy,
precision, and technology implementation are key considerations,
with self-cleaning systems and calibration frequency crucial for
industries like jet engines and HVAC systems.
Table of Contents:
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation
- End-user
-
- Oil And Gas
- Water And Wastewater
- Mining And Minerals
- Chemicals
- Others
- Distribution Channel
-
- OEM Service Providers
- Third-party Service Providers
- Geography
-
- Europe
- North America
- APAC
- Middle East And Africa
- South America
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Company Landscape
11 Company Analysis
12 Appendix
About Technavio
Technavio is a leading global technology research and advisory
company. Their research and analysis focuses on emerging market
trends and provides actionable insights to help businesses identify
market opportunities and develop effective strategies to optimize
their market positions.
With over 500 specialized analysts, Technavio's report library
consists of more than 17,000 reports and counting, covering 800
technologies, spanning across 50 countries. Their client base
consists of enterprises of all sizes, including more than 100
Fortune 500 companies. This growing client base relies on
Technavio's comprehensive coverage, extensive research, and
actionable market insights to identify opportunities in existing
and potential markets and assess their competitive positions within
changing market scenarios.
Contacts
Technavio Research
Jesse Maida
Media & Marketing Executive
US: +1 844 364 1100
UK: +44 203 893 3200
Email: media@technavio.com
Website: www.technavio.com/
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SOURCE Technavio