Measuring and Control Instruments Industry Outlook 2025-2029: Market Set to Cross $1208.18 Billion Milestone

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What Will the Measuring and Control Instruments Industry Market Size Be by 2025?
In recent times, there's been substantial growth in the measuring and control instruments market. The market, which was valued at $855.63 billion in 2024, is expected to rise to $923.53 billion in 2025, representing a compound annual growth rate (CAGR) of 7.9%. This growth during the historic period is notably due to factors such as the expansion of the energy sector, the surge in automotive manufacturing, advancements in telecommunications, environmental monitoring, as well as the heightened activity within the mining and minerals industry.

What's the Long-Term Growth Forecast for the Measuring and Control Instruments Market Size Through 2029?
The market size for measuring and control instruments is projected to witness significant growth in the coming years, reaching a value of $1208.18 billion by 2029, increasing at a compound annual growth rate (CAGR) of 6.9%. This predicted growth during the forecast period is due, in part, to factors such as the expansion of renewable energy, smart city initiatives, precision agriculture, space exploration, and climate change monitoring. Key trends anticipated during this period include the rise of smart sensors, advancements in automation and robotics, enhanced digitalization and connectivity, data analysis and AI application, as well as remote monitoring and control.

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What Are the Key Growth Drivers Fueling the Measuring and Control Instruments Market Expansion?
Governments worldwide are making investments to develop smart cities, a move likely to spur the demand for a variety of measuring and control instruments for diverse applications. Essential to the safety of its citizens, these smart cities employ search, detection and navigation gadgets. Tools such as global positioning systems (GPS), machine-to-machine (M2M) communication, Wi-Fi, and radio frequency identification (RFID) technologies facilitate effective communication. The smart city concept is essentially a web of systems and objects linked through various technology networks such as local, wide and wireless. This concept is growing in popularity not just in developed places like the EU, but also in emerging economies like China and India. To illustrate, there are almost 300 planned smart city pilots in India and China alone. Besides, the EU is keenly encouraging smart city initiatives, with allocated funds for research and set sustainability goals for member countries. The emergence of smart cities will trigger a surge in demand for different navigational, measuring, electromedical, and control instruments, stimulating the growth of the measuring and control instruments market.

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What Are the Key Trends Driving Measuring and Control Instruments Market Growth?
The anticipated increase in worldwide interest rates, affecting both developing and developed economies, is expected to stifle fresh investments in the measuring and control instruments manufacturing market during the forecast period. The maneuver to elevate interest rates globally is designed to curb inflation and prevent excessive capital outflow from various nations. These changes could potentially hinder new investments, particularly in areas such as expansion, research, and product development. For instance, the UK, as reported by the House of Commons Library, experienced an interest rate increase from 0.1% in December 2021 to 5.25% by August 2023, as executed by the Monetary Policy Committee (MPC). The surge in interest rates was a response to rising inflation, reaching a high of 11.1% in October 2022, thereby restricting the growth of the measuring and control instruments market.

How Is the Measuring and Control Instruments Market Segmented?
The measuring and control instruments market covered in this report is segmented -

1) By Type: Other Electrical Equipment, Electronic Products And Components, Navigational, Measuring, Electro medical And Control Instruments
2) By Mode: Online, Offline
3) By Sales Channel: OEM, After market

Subsegments:
1) By Other Electrical Equipment: Circuit Breakers, Relays, Switchgear, Transformers
2) By Electronic Products and Components: Sensors, Microcontrollers, Amplifiers, Power Supplies
3) By Navigational Instruments: GPS Systems, Radar Systems, Compasses, Navigation Software
4) By Measuring Instruments: Multimeters, Oscilloscopes, Calipers, Pressure Gauges
5) By Electro-medical Instruments: ECG Machines, MRI Machines, Patient Monitors, Blood Glucose Meters
6) By Control Instruments: Programmable Logic Controllers (PLCs), Distributed Control Systems (DCS), Control Valves, Process Automation Systems

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Which Companies Are Leading the Charge in Measuring and Control Instruments Market Innovation?
Major companies operating in the measuring and control instruments market include Yokogawa Electric Corporation, Siemens AG, Thermo Fisher Scientific Inc., Schneider Electric SE, Honeywell International Inc., Emerson Electric Co., Agilent Technologies Inc., AMETEK Inc., Fortive Corporation, Hexagon AB, Keysight Technologies Inc., Advantest Corporation, Rohde & Schwarz GmbH & Co. KG, National Instruments Corporation, Teledyne Technologies Incorporated, VIAVI Solutions Inc., EXFO Inc., Anritsu Corporation, Malvern Panalytical GmbH, TSI Incorporated, GW Instek Co. Ltd., Analysis and Measurement Services Corporation (AMS), Liquid Instruments GmbH, Innovative Scientific Solutions Inc., Sequoia Scientific Inc., Teraview AG, Vista Clara Inc., Pessl Instruments GmbH, Casella Measurement Inc., OWON Instrument Co. Ltd., ADLINK Technology Inc.

Which Regions Are Leading the Global Measuring and Control Instruments Market in Revenue?
Asia-Pacific was the largest region in the measuring and control instruments market in 2024. North America was the second largest region in the measuring and control instruments market. The regions covered in the measuring and control instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

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