Industrial Metrology Market Overview:
According to a new report by IMIR Market Research on Global Industrial Metrology Market Size was valued at USD 10.7 Billion in 2022. The Industrial Metrology market Application is projected to grow from USD 11.5 Billion in 2023 to USD 18.7 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.70% during the forecast period (2023 - 2032).
Demand is increasing for industrial metrology systems, extremely reliable and high-quality procedures, and electric automobiles, are the key market drivers enhancing the market growth.
Industrial Metrology Market Trends:
Rising demand for industrial metrology solutions is driving the market growth
Rising demand for industrial metrology solutions in the food inspection industry, the defense industry, and for large projects like smart cities is predicted to boost the industrial metrology market. Rising aerospace solution demand, rising availability of high-quality metrology solutions, and expanding metrology awareness are the main factors driving the industrial metrology market. Rising demand for metrology solutions in both the automotive industry and general production is likely to drive the market. In the near future, it is anticipated that the automotive industry will experience a dramatic transformation as automated facilities quickly replace manual facilities in the production of automobiles. The demand for highly trustworthy and high-quality procedures is predicted to boost the market, along with an increase in the demand for electric vehicles. During the projected period, an increase in automation is also anticipated in the manufacturing sector's need for industrial metrology.
Electric vehicles (EVs) are becoming more and more common on the road, and nearly all automakers have stated that EVs will eventually predominate in their product selection. The number of drivetrain components will significantly decrease as the transition from internal combustion (IC) to electric continues. Additionally, the remaining parts, which are present in all kinds of cars, will have a bigger influence on the vehicle's longevity and performance. Power electronics, electric motors, fuel cell systems, and batteries for electric cars are among the major industries that use industrial metrology solutions. Sales of electric vehicles increased by almost treble in China in 2021, reaching 3.3 million units, or roughly half of the global total. Sales increased significantly in both Europe (by 65% to 2.3 million) and the US (more than doubling to 6,30,000). As a result, the increase in EVS usage is what is driving the market for industrial metrology equipment.
Due to increased geopolitical tensions between various countries and the ensuing rise in demand for accurate defense applications, both mechanical and electronic, it is expected that the aerospace and defense sector would be the primary driver of the worldwide industrial metrology market. Additionally, the growth of conflicts involving vital missions demands exact calibration and strict traceability in military aircraft and vehicles. Additionally, the growth of the market is being aided by the development of high-tech products, big data, and virtual drones, aerospace, and defense vehicles. Thus, driving the Industrial Metrology market revenue.
Scope of Industrial Explosives Market Report:
A recent market research report added to repository of Intellectual Market Insights Research is an in-depth analysis of Global Industrial Explosives Market. On the basis of historic growth analysis and current scenario of Industrial Explosives market place, the report intends to offer actionable insights on global market growth projections. Authenticated data presented in report is based on findings of extensive primary and secondary research. Insights drawn from data serve as excellent tools that facilitate deeper understanding of multiple aspects of global Industrial Explosives market. This further helps users with their developmental strategy.
Industrial Metrology Key Market Players & Competitive Insights:
Leading industry companies are making significant R&D investments in order to diversify their product offerings, which will drive the Industrial Metrology market's expansion. Important market developments include new product releases, contractual agreements, mergers and acquisitions, greater investments, and collaboration with other organizations. Market participants are also engaging in a number of strategic actions to increase their global footprint. The Industrial Metrology sector needs to provide affordable products if it wants to grow and thrive in a more competitive and challenging market environment.
One of the primary business strategies employed by manufacturers in the worldwide Industrial Metrology industry to assist customers and expand the market sector is local manufacturing to reduce operational costs. Some of the biggest benefits to medicine have recently come from the Industrial Metrology sector. Major players in the Industrial Metrology market, including Hexagon AB, Renishaw PLC, FARO Technologies, Nikon Metrology, Carl Zeiss AG, Jenoptik AG, Perceptron, Automated Precision Inc., KLA Corporation, and Applied Materials Inc., are attempting to increase market demand by investing in research and development operations.
Burnaby, Canada-based LMI Technologies (LMI) is a provider of 3D sensor technology services. The business creates technologies for 3D measurement, data visualization, and scanning, including HDI 3D sensors, locator 3D smart sensors, and others. LMI Technologies (LMI) has announced that the most recent Gocator 2600 Series of intelligent 3D laser line profile sensors with 4K+ resolution will make its official debut in August 2022. These factory-precalibrated sensors deliver 4200 data points per profile for high-resolution 3D scanning and inspection over wide fields of view in applications including battery inspection, building materials, automotive, rubber and tyre fabrication, and general factory automation. They also come with potent 9 megapixel imagers and customized, modified optics.
Hexagon AB (Hexagon) provides information technology for geospatial and industrial enterprise applications that improve effectiveness and quality. The business provides sensor, software, and autonomous solutions, including as sensor-integrated metrology systems, CAD and CAM software, and software. It also provides geographic information system (GIS) software for creating 3D models and maps, sensors for satellite location, and data collection from the air and land. The manufacturing, aerospace, automotive, defense, mining, and construction industries all employ Hexagon products. The corporation conducts business across the Middle East, Africa, Asia, and the Americas. The corporate headquarters of Hexagon are located in Stockholm, Sweden. In March 2022, Hexagon AB made the announcement that it will buy ETQ. ETQ is software for managing compliance, the environment, health, and safety, and the quality management system (QMS).
Key Companies in the Industrial Metrology market include:
- Hexagon AB
- Renishaw PLC
- FARO Technologies
- Nikon Metrology
- Carl Zeiss AG
- Jenoptik AG
- Perceptron
- Automated Precision Inc.
- KLA Corporation
- Applied Materials Inc.
Industrial Metrology Application Developments:
August 2022: A number of new products will be on display at Chicago at Booth No. 135230, according to LK Metrology, a manufacturer of Coordinate Measuring Machines (CMMs), metrology software, and associated CMM accessory items.
Industrial Metrology Market Segmentation:
Industrial Metrology Offering Outlook
Industrial Metrology Equipment Outlook
- Coordinate Measuring Machine (CMM)
- Optical Digitizer and Scanner (ODS)
- Measuring Instruments
- X-ray and Computed Tomography
- Automated Optical Inspection
- Form Measurement Equipment
- 2D Equipment
Industrial Metrology Application Outlook
- Quality Control & Inspection
- Reverse Engineering
- Mapping and Modeling
- Others
Industrial Metrology End User Industry Outlook
- Aerospace & Defense
- Automotive
- Semiconductor
- Manufacturing
- Others
Industrial Metrology Market Segment Insights:
Industrial Metrology Offering Insights
The global Industrial Metrology market segmentation, based on Offering, includes hardware, software, and services. Hardware segment dominated the global market in 2022. For calculating surface separations and distances ranging from millimeters to kilometers, it provides improved precision and accuracy. The market is also growing as a result of the increased demand for 3D metrology tools for quality assurance and inspection as well as in a variety of end-use industries, such as the automotive, aerospace, and defense industries.
Industrial Metrology Equipment Insights
The global Industrial Metrology market segmentation, based on Equipment, includes coordinate measuring machine (CMM), optical digitizer and scanner (ODS), measuring instruments, x-ray and computed tomography, automated optical inspection, form measurement equipment, and 2D equipment. Optical digitizer and scanner (ODS) segment dominated the global market in 2022. Demand is increasing across a range of end-use industries for optical digitizers and scanners because they use a scanning technique and software that is advantageous for capturing coordinate points of any item and printing them into an image. The development of high-tech optical digitizers and scanners, accurate integration techniques, and technological advancements are all factors in the increase of revenue.
Industrial Metrology Application Insights
The global Industrial Metrology market segmentation, based on Application, includes quality control & inspection, reverse engineering, mapping and modeling, and others. The quality control & inspection segment dominated the global Industrial Metrology market in 2022. The need to enhance output and achieve accuracy has resulted in a growth in the demand for high-precision metrology and inline inspection across a variety of industries. Growing competition and the drive to increase safety have led to the widespread adoption of quality control and inspection systems across a variety of industries, including automotive, aerospace & defense, and semiconductors. In these industries, maintaining and raising a product's quality is essential.
Industrial Metrology End-User Industry Insights
The global Industrial Metrology market segmentation, based on End-User Industry, includes aerospace & defense, automotive, semiconductor, manufacturing, and others. The automotive segment dominated the global Industrial Metrology market in 2022. Automotive manufacturers are using 3D technologies and optical inspection techniques more and more. The auto industry gains a great deal from 3D measurement technologies since production teams can instantly scan a part or subassembly and determine the exact root of any quality issues. 3D scanning solutions can be used at any level of the design process, including product conception and design, reverse engineering, quality assurance, and quality control. In the automotive industry, the CMM is the most popular industrial metrology instrument, especially for applications involving quality control and inspection. Numerous companies operating in this industry are providing CMM solutions for the same.
Industrial Metrology Regional Insights
Insights into the markets in North America, Europe, Asia-Pacific, and the rest of the world are provided by the study. The North America Industrial Metrology Market dominated this market in 2022 (45.80%). The rising demand for automation and the significant usage of industrial metrology in the region provide an explanation for this. Further, In the North American area, the U.S. Industrial Metrology market had the biggest market share, while the Canada Industrial Metrology market had the quickest rate of expansion.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
In 2022, the industrial metrology market in Europe held a sizable market share. The increasing targets imposed by the Climate Change Accord and the automotive industry's propensity for automation are expected to have a substantial positive impact on the industrial metrology market in the region in the near future. Further, In the European region, the German Industrial Metrology market had the biggest market share, and the U.K. Industrial Metrology market had the quickest rate of growth.
From 2023 to 2032, the Asia Pacific Industrial Metrology market is anticipated to grow significantly. As a result of the rising geopolitical tension and the increased demand for automation in the commercial sector, industrial metrology technologies have been adopted throughout developing nations like China, Japan, South Korea, and India, which is predicted to fuel market expansion. Moreover, In the Asia-Pacific region, the Indian Industrial Metrology market had the quickest rate of growth while China's Industrial Metrology market had the greatest market share.
Global Industrial Explosives Market Regional Analysis:
North America accounted for the highest xx% market share in terms of revenue in the Industrial Explosives market and is expected to expand at a CAGR of xx% during the forecast period. This growth can be attributed to the growing adoption of Industrial Explosives. The market in APAC is expected to witness significant growth and is expected to register a CAGR of xx% over upcoming years, because of the presence of key Industrial Explosives companies in economies such as Japan and China.
The objective of the report is to present comprehensive analysis of Global Industrial Explosives Market including all the stakeholders of the industry. The past and current status of the industry with forecasted market size and trends are presented in the report with the analysis of complicated data in simple language.
Industrial Explosives Market Report is also available for below Regions and Country Please Ask for that
North America
Europe
- Switzerland
- Belgium
- Germany
- France
- U.K.
- Italy
- Spain
- Sweden
- Netherland
- Turkey
- Rest of Europe
Asia-Pacific
- India
- Australia
- Philippines
- Singapore
- South Korea
- Japan
- China
- Malaysia
- Thailand
- Indonesia
- Rest Of APAC
Latin America
- Mexico
- Argentina
- Peru
- Colombia
- Brazil
- Rest of South America
Middle East and Africa
- Saudi Arabia
- UAE
- Egypt
- South Africa
- Rest Of MEA
Points Covered in the Report:
- The points that are discussed within the report are the major market players that are involved in the market such as market players, raw material suppliers, equipment suppliers, end users, traders, distributors and etc.
- The complete profile of the companies is mentioned. And the capacity, production, price, revenue, cost, gross, gross margin, sales volume, sales revenue, consumption, growth rate, import, export, supply, future strategies, and the technological developments that they are making are also included within the report. This report analysed 5 years data history and forecast.
- The growth factors of the market are discussed in detail wherein the different end users of the market are explained in detail.
- Data and information by market player, by region, by type, by application and etc., and custom research can be added according to specific requirements.
- The report contains the SWOT analysis of the market. Finally, the report contains the conclusion part where the opinions of the industrial experts are included.
Key Questions:
- How much the global Industrial Explosives Market valued?
- Which region has the largest share in 2023 for the global Industrial Explosives Market?
- What are the driving factors for the market?
- Which is the leading segment in the global market?
- What are the major players in the market?
Research Scope of Industrial Explosives Market
- Historic year: 2018- 2021
- Base year: 2022
- Forecast: 2023 to 2032
- Representation of Market revenue in USD Million
Industrial Explosives Market Trends: Market key trends which include Increased Competition and Continuous Innovations Trends
