In 2022, sales in the world market for calibrators market review are anticipated to reach US$ 924.7 billion. By 2029, the market is anticipated to grow at a healthy 4.1% CAGR and reach US$ 1.2 billion in value.
Sales in this market are anticipated to be driven by the simple accessibility of a large number of calibrators depending on the function and form of the equipment to be calibrated.
Additionally, the market is likely to grow due to the expanding use of pressure calibrators to ensure the accuracy of various instruments and to raise the bar for product quality.
In addition, it is anticipated that the strong demand for multifunction calibrators from a variety of industry verticals, including semiconductor, automotive, and aerospace & defence, will support the expansion of this market. In addition, the growing usage.
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While all engineers need better measurements, certain industries drive the calibration equipment market — heavily regulated industries such as medical, pharmaceuticals, aerospace/defense, automotive, and food drive calibration.
In 2018, EE Times reported on how pharmaceutical and medical industries drive calibration when we visited a calibration lab.
While not as heavily regulated, electronics and semiconductors also need verifiable measurements that are traceable to national and international standards.
In electronics, electrical measurements include voltage, current, resistance, power, and frequency. Physical measurements include temperature, pressure, flow, and weight. Temperature is, by far, the most common measurement.
FMI reports that the market value for calibration equipment was US$833.1 million in 2018. According to the report, the market value will grow with a compound annual growth rate (CAGR) of 6.2% over the period from 2019 to 2027.
While temperature, pressure, and electrical calibration equipment continue to be the most popular, pressure calibrators make up the largest segment by dollar value.
The report breaks down the calibration equipment market by region and industry. That breaks down to North America, Europe, the Middle East, Japan, Asia Pacific, and Latin America.
According to the report, the top companies in calibration equipment are Fluke Calibration, Yokogawa, AMETEK, and General Electric. There are a host of other players such as Beamex and Extech. For a comprehensive list, see the NCSL International Symposium exhibitor list.
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Competition Landscape
Leading players in the global calibrators market are conducting exhaustive research and development activities to introduce cutting-edge multifunction calibrator solutions for a wide range of industries. Meanwhile, some of the other companies are expanding their geographic presence and distribution networks to strengthen their positions in the market.
A few others are engaging in joint ventures, partnerships, mergers, and acquisitions to accelerate production of digital calibrators for catering to the high demand from various industries.
For instance,
- In December 2021, Leuze Electronic, a specialist for innovative and practical solutions in the field of optical sensors for factory automation based in South Germany, launched novel sensors that do not need to be set up manually each time the product is changed. These can be connected via IO-Link that provides continuous monitoring and reproducible remote calibration. These features would make the sensor solutions ready for Industry 4.0 and easier to integrate these within novel packaging machines.
- In November 2021, AMETEK STC, a leading manufacturer and developer of calibration instruments headquartered in Denmark, introduced its latest JOFRA RTC-168 Reference Temperature Calibrator to help customers operating in the food and pharmaceutical industries in calibrating the sanitary sensors. The new product is equipped with an innovative design that would enable sanitary sensors with large flanges to come closer to the temperature uniformity zone quickly.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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