Major companies in the measuring and control instruments market include Agilent Technologies; Siemens Medical Solutions; Boeing; Thermo Fisher Scientific and Medtronic plc. The global measuring and control instruments market is expected to grow from $702.
New York, Feb. 01, 2021 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Measuring and Control Instruments Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06018932/?utm_source=GNW
51 billion in 2020 to $750.62 billion in 2021 at a compound annual growth rate (CAGR) of 6.8%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $982.85 billion in 2025 at a CAGR of 7%.
The measuring and control instruments market consists of sales of navigational, measuring, electro medical and control instruments, and other components by entities (organizations, sole traders and partnerships) that 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. This market includes sales of carbon, graphite, and metal graphite brushes and brush stock; carbon or graphite electrodes for thermal and electrolytic uses; carbon and graphite fibers; and other carbon, graphite, and metal-graphite products. The measuring and control instruments market is segmented into navigational, measuring, electro medical and control instruments and other electrical equipment, electronic products and components.
Asia Pacific was the largest region in the global measuring and control instruments market, accounting for 37% of the market in 2020. North America was the second largest region accounting for 28% of the global measuring and control instruments market. Africa was the smallest region in the global measuring and control instruments market.
Companies in the measuring and control instruments manufacturing market are investing in the development of new 3D microscopes with the ability to increase productivity, improve diagnosis and research capabilities.3D microscopes are capable of capturing images from different positions and generating 3D images. Unlike the traditional microscopes, these 3D microscopes do not require the specimen to be cut into pieces but preserves specimen for additional study. Following the trend, in 2019, Nanoville, a Switzerland based bioresearch company announced its CX-A 3D microscope that is capable of viewing internal structure of cells at 200nm resolution without damaging the specimen.
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, the US interest rates are expected to rise up to 3.5% by 2021. These factors are expected to have a negative impact on the electrical and electronics manufacturing market as borrowing money becomes expensive, thus limiting the growth of the measuring and control instruments manufacturing market.
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 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 welll as in developed nations such as EU. For instance, in China and India almost 300 smart city pilots are currently planned. Further, 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, electro medical and control instruments, boosting the growth of measuring and control instruments manufacturing market.
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