Electronic Inspection & Monitoring Instruments Manufacturing
Description
Companies in this industry are primarily engaged in the manufacture of instruments that measure, display, and control industrial process variables such as temperature, humidity, pressure, and flow. Major companies include Honeywell and Rockwell Automation (both of the US), as well as ABB (Switzerland), OMRON (Japan), Schneider Electric (France), and Siemens (Germany).
The global industrial controls and factory automation market, which includes electronic inspection and monitoring instruments, is forecast to reach about $400 billion by 2029, with a compound annual growth rate (CAGR) of about 10% during the 2024-2029 forecast period, according to Markets and Markets. Top countries for manufacturing of electronic inspection and monitoring instruments (also called process control instruments, or PCIs) include China, Japan, South Korea, and Taiwan.
The US process control instruments manufacturing industry includes about 800 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $10 billion.
Industrial controls, which are often used in conjunction with process control instruments, are covered in a separate industry profile.
COMPETITIVE LANDSCAPE
Demand is driven by overall industrial production and by demand for machinery used to automate production of a variety of manufactured products. The profitability of individual companies depends on technological expertise and efficient operations. Large companies have economies of scale in purchasing and greater ability to offer a wide variety of products to a diverse customer base. Small companies can compete by specializing in niche products. The US industry is concentrated: the top 50 companies account for about 75% of industry revenue.
Imports account for about 80% of the US market. The largest suppliers to the US are Mexico, China, Germany, and Japan. Exports, which make up about 80% of US production, go mainly to Mexico, Canada, China, and Germany.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products include flow and liquid level measuring instruments, which account for about 25% of the industry's revenue, followed by other industrial-type instruments (about 20%). Other products include continuous process instruments (10%) and unified electronics systems (10%). Specific product types include chromatographs, flow instruments, hydrometers, liquid analysis instruments, mechanical measuring instruments, pressure gauges, and temperature instruments.
Process control instruments (PCIs) are used to measure, control, and display variables such as temperature and pressure as raw materials are transformed into finished or semi-finished goods through a highly automated manufacturing process. Measurements are taken by sensors or meters throughout the manufacturing process and are transmitted to controller computers that compare process data to a pre-established metric. Controller computers determine the difference between measured data and the pre-defined process metric, and make any necessary adjustments to the process variables to meet the required parameters. This "loop" of data collection, feedback, and adjustment is ongoing throughout the manufacturing process to ensure product quality, worker safety, and production efficiency.
Using soft drink manufacture as an end-use example of PCI applications, flow instrumentation would trigger a valve to dispense a pre-specified volume of untreated water through a filtration system. Flow controls also dispense sugars and other flavorings that may be monitored and controlled by instruments that measure density, acidity (pH), or other qualities. Other controls employed during beverage formulation may include temperature controls, water quality monitors, hydrometers, or other liquid analysis instruments. Gas flow instruments may then add carbon dioxide to required levels. Flow instrumentation then controls the volumes of dispensed liquids during the bottling process.
PCIs may be stock or built-to-order. Some companies contract out subassembly work and configure and test final products in-house. Raw materials and parts used in the manufacturing process include printed circuit boards; receivers; transmitters; semiconductors; liquid crystal displays; miscellaneous components and accessories for electronic circuitry; sheet metal; and other metal assemblies, primarily of aluminum and steel. Companies conduct quality control assessments throughout the manufacturing process, from inspection of raw materials to testing of purchased assemblies to inspection of the final product. Research and development is important to product innovation and competitiveness; R&D expenses can represent 5% of a company's annual revenue.
The global industrial controls and factory automation market, which includes electronic inspection and monitoring instruments, is forecast to reach about $400 billion by 2029, with a compound annual growth rate (CAGR) of about 10% during the 2024-2029 forecast period, according to Markets and Markets. Top countries for manufacturing of electronic inspection and monitoring instruments (also called process control instruments, or PCIs) include China, Japan, South Korea, and Taiwan.
The US process control instruments manufacturing industry includes about 800 establishments (single-location companies and units of multi-location companies) with combined annual revenue of about $10 billion.
Industrial controls, which are often used in conjunction with process control instruments, are covered in a separate industry profile.
COMPETITIVE LANDSCAPE
Demand is driven by overall industrial production and by demand for machinery used to automate production of a variety of manufactured products. The profitability of individual companies depends on technological expertise and efficient operations. Large companies have economies of scale in purchasing and greater ability to offer a wide variety of products to a diverse customer base. Small companies can compete by specializing in niche products. The US industry is concentrated: the top 50 companies account for about 75% of industry revenue.
Imports account for about 80% of the US market. The largest suppliers to the US are Mexico, China, Germany, and Japan. Exports, which make up about 80% of US production, go mainly to Mexico, Canada, China, and Germany.
PRODUCTS, OPERATIONS & TECHNOLOGY
Major products include flow and liquid level measuring instruments, which account for about 25% of the industry's revenue, followed by other industrial-type instruments (about 20%). Other products include continuous process instruments (10%) and unified electronics systems (10%). Specific product types include chromatographs, flow instruments, hydrometers, liquid analysis instruments, mechanical measuring instruments, pressure gauges, and temperature instruments.
Process control instruments (PCIs) are used to measure, control, and display variables such as temperature and pressure as raw materials are transformed into finished or semi-finished goods through a highly automated manufacturing process. Measurements are taken by sensors or meters throughout the manufacturing process and are transmitted to controller computers that compare process data to a pre-established metric. Controller computers determine the difference between measured data and the pre-defined process metric, and make any necessary adjustments to the process variables to meet the required parameters. This "loop" of data collection, feedback, and adjustment is ongoing throughout the manufacturing process to ensure product quality, worker safety, and production efficiency.
Using soft drink manufacture as an end-use example of PCI applications, flow instrumentation would trigger a valve to dispense a pre-specified volume of untreated water through a filtration system. Flow controls also dispense sugars and other flavorings that may be monitored and controlled by instruments that measure density, acidity (pH), or other qualities. Other controls employed during beverage formulation may include temperature controls, water quality monitors, hydrometers, or other liquid analysis instruments. Gas flow instruments may then add carbon dioxide to required levels. Flow instrumentation then controls the volumes of dispensed liquids during the bottling process.
PCIs may be stock or built-to-order. Some companies contract out subassembly work and configure and test final products in-house. Raw materials and parts used in the manufacturing process include printed circuit boards; receivers; transmitters; semiconductors; liquid crystal displays; miscellaneous components and accessories for electronic circuitry; sheet metal; and other metal assemblies, primarily of aluminum and steel. Companies conduct quality control assessments throughout the manufacturing process, from inspection of raw materials to testing of purchased assemblies to inspection of the final product. Research and development is important to product innovation and competitiveness; R&D expenses can represent 5% of a company's annual revenue.
Table of Contents
- Industry Overview
- Quarterly Industry Update
- Business Challenges
- Business Trends
- Industry Opportunities
- Call Preparation Questions
- Financial Information
- Industry Forecast
- Web Links and Acronyms
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