Europe Industrial Metrology Market Size, Share & Industry Trends Analysis Report By Offering, By Equipment, By Application, By End-User (Automotive, Aerospace & Defense, Semiconductor, Manufacturing), By Country and Growth Forecast, 2022 - 2028
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Market Report Description
The Europe Industrial Metrology Market would witness market growth of 5.7% CAGR during the forecast period (2022-2028).
A company's value chain is formed of numerous operations in a chain, particularly when it pertains to generating original items, as these products go through steps such as modeling, production, refining, and assembly. In this setting, industrial metrology functions as a crucial instrument for information generation and acquiring specialized knowledge about all phases. The information supplied by the metrology processes enables the teams accountable for the metrology to identify potential bottlenecks and reduce excessive use of raw materials. Additionally, industrial metrology helps in discovering better options for product manufacturing and avoids functional and structural failure risks.
Each week, millions of pieces are manufactured in modern manufacturing. The majority are manufactured on automated assembly lines with minimal human interaction. Each piece of equipment in the manufacturing line generates a distinct component that conforms to precise requirements within a predetermined error margin. Even the most complex and costly machinery can lose or shift alignment over time. When machines are tasked with producing crucial components even minute alterations can have significant consequences. All items manufactured on contemporary assembly lines possess a predetermined error tolerance.
The amount of tolerance varies depending on the manufactured part. The machines self-diagnose whether or not the components they are creating fall within acceptable limits. If not, they notify the technicians and quality control staff about the problem. In industries where precise measurement is crucial, such as automotive and aerospace, components are measured by Coordinate Measuring Machines to guarantee exact criteria are reached.
The Euramet European Metrology Research Program (EMRP) has made it possible for European metrology organizations, businesses, and academic institutions to work together on joint research projects in a number of sectors, including industry, energy, environment, health, technologies, and SI units. 119 projects were able to be funded between 2009 and 2013 through annual EMRP research solicitations. The successor program, the European Metrology Program for Innovation and Research (EMPIR), continues to fund measurement research projects in the same areas as the EMRP, with the addition of new themes for projects. Therefore, the region will demand more metrological solutions in the coming years and has significantly bolstered the expansion of the industrial metrology market.
The Germany market dominated the Europe Industrial Metrology Market by Country in 2021; thereby, achieving a market value of $1,005 million by 2028. The UK market is exhibiting a CAGR of 4.9% during (2022 - 2028). Additionally, The France market would experience a CAGR of 6.5% during (2022 - 2028).
Based on Offering, the market is segmented into Hardware, Software, and Services. Based on Equipment, the market is segmented into Coordinate Measuring Machine (CMM), Automated Optical Inspection, Measuring Instruments, Optical Digitizer & Scanner (ODS), X-ray & Computed Tomography, Form Measurement Equipment, and Others. Based on Application, the market is segmented into Quality Control & Inspection, Reverse Engineering, Mapping & Modeling, and Others. Based on End-User, the market is segmented into Automotive, Aerospace & Defense, Semiconductor, Manufacturing, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Global Industrial Metrology Market will Hit $15.2 Billion by 2028, at a CAGR of 6.2%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hexagon AB, Nikon Corporation, FARO Technologies, Inc., Carl Zeiss AG, Jenoptik AG, Keyence Corporation, Creaform, Inc. (AMETEK, Inc.), Renishaw PLC, Mitutoyo Corporation and KLA Corporation
Scope of the Study
Market Segments Covered in the Report:
- Coordinate Measuring Machine (CMM)
- Automated Optical Inspection
- Measuring Instruments
- Optical Digitizer & Scanner (ODS)
- X-ray & Computed Tomography
- Form Measurement Equipment
- Quality Control & Inspection
- Reverse Engineering
- Mapping & Modeling
By End User
- Aerospace & Defense
- Rest of Europe
Key Market Players
List of Companies Profiled in the Report:
- Hexagon AB
- Nikon Corporation
- FARO Technologies, Inc.
- Carl Zeiss AG
- Jenoptik AG
- Keyence Corporation
- Creaform, Inc. (AMETEK, Inc.)
- Renishaw PLC
- Mitutoyo Corporation
- KLA Corporation
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