Industrial Metrology Market

Rising demand for industrial metrology solutions is driving the market growth

The industrial metrology market is anticipated to be driven by rising demand for industrial metrology solutions in the food inspection industry, the defense industry, and for big projects like smart cities. The market for industrial metrology is being driven primarily by rising aerospace solution demand, rising quality metrology solution availability, and rising metrology awareness. The market is anticipated to be driven by rising demand for metrology solutions in both the automotive industry and general manufacturing. As automated facilities quickly take over the manufacturing of automobiles, the automotive industry is predicted to undergo a significant change in the near future.

A rise in the need for electric vehicles and the requirement for highly dependable and high-quality procedures are anticipated to drive the market. Additionally, a rise in automation is anticipated in the manufacturing sector's demand for industrial metrology during the projection period.

Electric vehicles (EVs) are becoming popular on the road, and almost all auto manufacturers have announced intentions for EVs to eventually dominate their product lineup. As the switch from internal combustion (IC) to electric proceeds, the number of drivetrain parts will substantially decline. And the remaining components, which are present in all types of vehicles, will have a greater impact on the performance and durability of the vehicle. Industrial metrology solutions are mostly used in electric car batteries, fuel cell systems, power electronics, and electric motors.

In 2021, China had a nearly threefold increase in electric car sales, reaching 3.3 million units, or about half of the global total. Both in the United States (more than tripling to 6,30,000) and Europe (by 65% to 2.3 million), sales climbed dramatically. Thus, the market for industrial metrology products is driven by the growth in EVS use.

The aerospace and defense industry is predicted to be the main driver of the Industrial Metrology Market because of the rising geopolitical tensions between various nations and the consequent rise in demand for precise defense applications, both mechanical and electronic. Additionally, the expansion of conflicts involving crucial missions necessitates stringent traceability and calibration with accuracy in military vehicles and aircraft. Additionally, the development of high-tech technologies, big data, and virtual drones, aerospace, and defense vehicles is assisting in the market's expansion. Thus, driving the Industrial Metrology market revenue.

The Global Industrial Metrology Market Industry is experiencing a surge in demand due to rapid technological advancements. Innovations in measurement technologies, such as laser scanning and 3D measurement systems, enhance precision and efficiency in manufacturing processes. For instance, the integration of artificial intelligence in metrology tools allows for real-time data analysis, improving quality control. As industries increasingly adopt these advanced technologies, the market is projected to reach 12.7 USD Billion in 2024, reflecting a growing reliance on precise measurement solutions to meet stringent quality standards.

The Global Industrial Metrology Market Industry is driven by the increasing emphasis on quality standards across various sectors. Regulatory bodies are enforcing stringent quality control measures, necessitating precise measurement solutions. Industries such as pharmaceuticals and aerospace are particularly affected, as they require compliance with rigorous standards. The adoption of metrology solutions ensures that products meet these quality benchmarks, thereby reducing the risk of defects. This growing focus on quality is likely to propel the market towards an estimated value of 25.4 USD Billion by 2035, underscoring the critical role of metrology in maintaining industry standards.

The Global Industrial Metrology Market Industry is also shaped by the globalization of supply chains. As companies expand their operations internationally, the need for standardized measurement practices becomes paramount. This globalization necessitates the use of metrology solutions that can ensure consistency and accuracy across different manufacturing sites. For instance, multinational corporations are increasingly investing in portable measurement devices to facilitate quality assurance in diverse locations. This trend is likely to enhance the demand for industrial metrology solutions, contributing to the overall growth of the market.

The Global Industrial Metrology Market Industry is significantly influenced by the rising trend of automation in manufacturing. As industries strive for higher productivity and reduced operational costs, automated measurement systems are becoming essential. These systems not only enhance measurement accuracy but also streamline production processes. For example, automated coordinate measuring machines (CMMs) are increasingly utilized in automotive and aerospace sectors. This shift towards automation is expected to contribute to a compound annual growth rate (CAGR) of 6.5% from 2025 to 2035, indicating a robust growth trajectory for the market.

The Global Industrial Metrology Market Industry is witnessing growth driven by emerging markets and industrial expansion. Countries in Asia-Pacific and Latin America are experiencing rapid industrialization, leading to increased investments in manufacturing technologies. This industrial growth necessitates the implementation of advanced metrology solutions to ensure product quality and operational efficiency. For example, the automotive industry in India is expanding, creating a demand for precise measurement tools. As these emerging markets continue to develop, they are expected to play a crucial role in the expansion of the industrial metrology sector.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North America Industrial Metrology Market dominated this market in 2022 (45.80%). This is explained by the increasing demand for automation and the extensive use of industrial metrology in the area. Further, the U.S. Industrial Metrology market held the largest market share, and the Canada Industrial Metrology market was the fastest growing market in the North America region.

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.

Figure 2: INDUSTRIAL METROLOGY MARKET SHARE BY REGION 2022 (USD Billion)

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Europe Industrial Metrology market accounted for the healthy market share in 2022. In the near future, the industrial metrology market in the area is anticipated to benefit significantly from rising targets set by the Climate Change Accord and the automobile industry's inclination for automation. Further, the German Industrial Metrology market held the largest market share, and the U.K Industrial Metrology market was the fastest growing market in the European region

The Asia Pacific Industrial Metrology market is expected to register significant growth from 2023 to 2032. Industrial metrology technologies have been adopted throughout developing countries like China, Japan, South Korea, and India as a result of the escalating geopolitical tension and the increased demand for automation in the commercial sector, which is expected to fuel market expansion. Moreover, China’s Industrial Metrology market held the largest market share, and the Indian Industrial Metrology market was the fastest growing market in the Asia-Pacific region.

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Industrial Metrology market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Industrial Metrology Application must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Industrial Metrology Application to benefit clients and increase the market sector. In recent years, the Industrial Metrology Application has offered some of the most significant advantages to medicine. 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.

LMI Technologies (LMI), a supplier of 3D sensor technology services, is based in Burnaby, Canada. The company develops technology, such as HDI 3D sensors, locator 3D smart sensors, and others, for 3D measurement, data visualization, and scanning. The most recent Gocator 2600 Series of smart 3D laser line profile sensors with 4K+ resolution will officially debut in August 2022, according to LMI Technologies (LMI). For high-resolution 3D scanning and inspection over broad fields of view in applications like battery inspection, building materials, automotive, rubber and tyre manufacture, and general factory automation, these factory-precalibrated sensors offer 4200 data points per profile.

They also include powerful 9 megapixel imagers and tweaked bespoke lenses.

Information technologies for geospatial and industrial enterprise applications that boost effectiveness and quality are offered by Hexagon AB (Hexagon). The company offers sensor, software, and autonomous solutions, including CAD and CAM software, sensor-integrated metrology systems, and software. It also offers sensors for satellite location and data collecting from the air and land, as well as geographic information system (GIS) software for making 3D models and maps. Hexagon products are used by the manufacturing, aerospace, automotive, defence, mining, and construction industries. The company operates in the Americas, Asia, Europe, the Middle East, and Africa.

Stockholm, Sweden is home to Hexagon's corporate headquarters. Hexagon AB announced the acquisition of ETQ in March 2022. ETQ is a SaaS-based quality management system (QMS), environment, health and safety software, and compliance management software.