Calibration Pump Market Size, Share, and Industry Analysis, By Type (Pneumatic, Hydraulic, and Electric), By Pressure Range (Low Pressure, Medium Pressure, and High Pressure), By End-user Industry (Oil & Gas, Power & Utilities, Chemical, Healthcare, Food & Beverage, and Others), and Regional Forecast, 2024-2032

Region :Global | Report ID: FBI110016 | Status : Ongoing

KEY INDUSTRY INSIGHTS

Calibration pumps are devices that generate precise pressure for testing and calibrating various instruments, such as sensors, gauges, transmitters, transducers, and other pressure instruments. A calibration hand pump helps to minimize the cost and complexity of pressure calibration. Hence, they are considered an important tool in various industries, such as oil & gas and power & utilities to ensure that pressure-measuring equipment delivers precise readings. Several key manufacturers offer portable or handheld calibration pumps that are user-friendly and can be conveniently used on field operations.

Strict regulatory compliance requirements, rapid automation, growing demand for efficient tools, and rapid technological advancements are expected to drive the calibration pumps market growth. As per the survey of industrial manufacturing stakeholders conducted in 2021 by Molex, nearly 51% of survey respondents have well-defined Industry 4.0 initiatives. In addition, around 49% of respondents have already achieved significant success with their Industry 4.0 initiative. The increasing importance of automation in manufacturing and process industries demands the accurate measurement of various parameters, augmenting the need for various calibration tools, such as calibration pumps. The integration of the Internet of Things (IoT) and smart devices requires accurate calibration to enable data reliability and accuracy.

In addition, growth in end-user industries, such as the oil & gas industry fuels the need for calibration pumps. Calibration pumps are important tools in the oil & gas industry for pressure calibration and testing of pressure instruments.

The COVID-19 pandemic has had a significant impact on the calibration pump market due to the widespread supply chain disruptions across the globe, leading to delays in the supply of calibration pumps. Raw material shortages further delayed the production of calibration pumps. In addition, a slow down in the oil & gas industry led to the reduced demand for calibration pumps, as fewer new projects as well as maintenance activities were undertaken during this period. After a drop in demand due to the COVID-19 pandemic, oil demand advanced to pre-pandemic levels in 2023 at 101.7 million barrels per day (MMb/d).

Key Insights

The report covers the following key insights:

Micro Macro Economic Indicators

Drivers, Restraints, Trends, and Opportunities

Business Strategies Adopted by Key Players

Impact of COVID-19 on the Calibration Pump Market

Consolidated SWOT Analysis of Key Players

Segmentation

By Type

By Pressure Range

By End-user Industry

By Region

Pneumatic

Hydraulic

Electric

Low Pressure

Medium Pressure

High Pressure

Oil & Gas

Power & Utilities

Chemical

Healthcare

Food & Beverage

Others

North America (U.S., Canada, and Mexico)

Europe (U.K., Germany, France, Italy, Spain, Russia, Benelux, Nordics, and the Rest of Europe)

Asia Pacific (China, India, Japan, South Korea, ASEAN, Oceania, and the Rest of Asia Pacific)

Middle East & Africa (Turkey, Israel, GCC, North Africa, South Africa, and the Rest of the Middle East & Africa)

South America (Brazil, Argentina, and Rest of South America)

Analysis by Type

By type, the calibration pump market has been classified into pneumatic, hydraulic, and electric.

The pneumatic segment is anticipated to dominate the global market during the forecast period due to its high accuracy and precision compared to other types. These pumps are widely used in the oil & gas industry for pressure instrument calibration purposes. Pneumatic calibration pumps are easy to use, making them highly suitable for field applications. Strict regulation standards in the oil & gas industry further drive the product demand.

Regional Analysis

The global market has been studied across five regions: North America, Asia Pacific, the Middle East & Africa, Europe, and South America.

The North America market is set to lead the global market share during the forecast period. This growth is majorly attributed to the stringent regulatory standards and safety protocols and the focus on technological advancements. In the U.S., the oil & gas sector is highly regulated at multiple levels of government. Various regulations impacting the oil and gas industries have been passed by Congress. In addition, the U.S. is one of the major producers of oil & gas. In the U.S., the crude oil production averaged 12.9 million barrels per day (b/d) in 2023, breaking the earlier global record of 12.3 million b/d. All these factors are expected to fuel the demand for reliable calibration equipment, such as calibration pumps.

Distribution of the Calibration Pump Market, By Region of Origin:

North America – 32%

South America – 7%

Europe – 25%

The Middle East & Africa – 14%

Asia Pacific –22%

Key Players Covered

The key players in the market include Dwyer Instruments, LLC, Fluke Corporation, Omega Engineering, Inc., Beamex Oy Ab., Ralston Instruments, Additel, and AMETEK Inc.

Key Industry Developments

October 2023: Beamex Oy Ab, a company that offers calibration equipment, announced the inauguration of a new subsidiary in the Netherlands to strengthen its local presence.

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PUBLISHING STATUS: Ongoing
BASE YEAR: 2023
HISTORICAL DATA: 2019-2022

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