The global calibrator market is anticipated at USD 0.92 million in 2022. Demand is likely to remain high for calibrators during the assessment period. This is due to the increased mining operation and garnering USD 1.4 billion in 2033, recording a CAGR of 4.3% from 2023 to 2033. The market is likely to secure USD 0.96 billion in 2023.
| Data Points | Key Statistics |
|---|---|
| Calibrator Market Size Value in 2023 | USD 0.96 billion |
| Calibrator Market Forecast Value in 2033 | USD 1.4 billion |
| Global Growth Rate | 4.3% |
| Forecast Period | 2023 to 2033 |
Key Factors Shaping the Demand Outlook of the Calibrator Industry:
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| Historical CAGR (2018 to 2022) | 3.7% |
|---|---|
| Forecasted CAGR (2023 to 2033) | 4.3% |
The calibrators market is expected to register a 4.3% CAGR between 2023 and 2033, up from the 3.7% CAGR recorded from 2018 to 2022, predicts Future Market Insights.
The increasing number of cases of work injuries across the globe is projected to bolster the sales of multifunction calibrators in the near future. These calibrators are extensively used to test the electrical equipment of various industries, such as oil refineries, manufacturing, and power generation plants on a regular basis to prevent lethal harm.
Medium, high, and low voltage transformers have more tendency to cause damage at a workplace if left unchecked. As per the Electrical Safety Foundation International (ESFI), in 2020, there were approximately 3,114 cases of fatalities from 2003 to 2020 in the USA occurring due to direct contact or exposure to electric current at workplaces.
These numbers are likely to rise in the forthcoming years in other countries of the globe, which would enable industries to check their equipment regularly with the help of digital calibrators.
The surging utilization of calibrators in the electronic & semiconductor industry to maintain product quality, reliability, and linearity of numerous electronic devices, such as modular measuring instruments, chart recorders, power supplies, data loggers, millimeters, clamp meters, and oscilloscopes is a significant factor that is likely to propel the demand for pressure calibrators.
The rising digitization of warehouses and factories worldwide and the development of portable vibration calibrator systems would accelerate the growth in this market.
Increasing Applications in Electronics Industry to Drive the Market Growth
A significant factor that is likely to fuel the demand for calibrators is the expanding use of calibrators in the electronics and semiconductor industries to maintain product quality, dependability, and linearity of numerous electronic devices, including millimeters, clamp meters, oscilloscopes, and modular measuring instruments, chart recorders, power supplies, and data loggers.
It is projected that the continued technical development in the calibrator area will lead to the appearance of multifunctional features needed in the automobile industry, such as autonomous test runs, calibration status displays, programming capabilities, and others.
it is predicted that the on-site calibration trend, which is growing in popularity throughout the world, will reduce the downtime of field instruments. several industries are planning to prioritize the adoption of in-house services in order to ensure that production processes are interrupted as little as possible and to support on-site calibration, which would boost the market
High Demand for Multifunction Calibrators Impacting Growth Positively
The rapid expansion of the automotive industry across the globe is estimated to propel the demand for multifunction calibrators in the near future. The ongoing technological advancement in the field of calibrators is anticipated to result in the emergence of automatic test runs, calibration status displays, programming capability, and similar other multifunctioning features that are required in the automotive industry.
According to the Organisation Internationale des Constructeurs d'Automobiles, around 77,971,234 and 90,423,687 vehicles were sold across the globe in 2020 and 2019, respectively. The production and sales of both passenger and commercial vehicles are projected to surge in the upcoming years, which would help digital calibrators with novel features to gain traction.
The increasing popularity of the on-site calibration trend in various parts of the world is estimated to reduce the downtime of field instruments. Many industries are set to focus on the adoption of in-house services for ensuring minimal interruptions during manufacturing processes and promoting on-site calibration, which would drive the market.
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Acquisitions among Key Players to Create High Demand for Pressure Calibrators
The presence of many renowned manufacturers of digital calibrators is expected to boost the United States market in the near future. As per FMI, the North American calibrators market is anticipated to account for about 32.5% of the share in 2023.
Most of the key players in the USA are focusing on mergers and acquisitions to co-develop new products and expand their geographic presence. In January 2022, for instance, Driven Brands Holdings Inc., a prominent automotive services company in North Carolina, acquired Auto Glass Now (AGN) to expand its auto glass offering in the country.
The company will be able to strengthen its glass repair service with the growing necessity of calibration. Thus, the engagement of the USA-based key players in such acquisitions is projected to bolster the demand for pressure calibrators in the forthcoming years.
The Government is Supporting New Technologies to Encourage the Adoption of Portable Vibration Calibrators
The increasing support of the government to encourage manufacturers to adopt unique calibrating methods in their operations is a vital factor that is set to augment the market in the United Kingdom Europe calibrators market is projected to generate approximately 28.7% of the share in 2023, predicts FMI.
For instance, in December 2021, the United Kingdom Government published its guidelines on the licensing process of a novel aerosol sensor testing technology named D1743.
The government aims to raise awareness regarding the development of improved methods and systems for calibrating and testing aerosol sensors. Such initiatives by the regulatory body are anticipated to drive the sales of portable vibration calibrators equipped with innovative features in the United Kingdom
The Electronics Manufacturing Industry is Exhibiting Demand for Digital Pressure Calibrators
The ongoing expansion of the semiconductor and electronics manufacturing industries is estimated to fuel the sales of portable vibration calibrators in India. South Asia calibrators market is likely to account for around 16.6% of the share in 2023, finds FMI.
According to the India Brand Equity Foundation (IBEF), from April 2021 to August 2021, India exported electronic goods worth around USD 5.37 billion. Rvenue from the digital segment in this country is anticipated to account for 38% of the total industry revenue by 2025.
These numbers are likely to surge in the upcoming years and create new growth opportunities for India-based digital pressure calibrator manufacturers.
Laboratories and Production Companies Are Exhibiting Demand for AC Handheld Pressure Calibrators
By current type, the AC segment is likely to remain at the forefront in the calibrators market throughout the forecast period. The rising usage of AC handheld pressure calibrators in production lines and laboratories is set to spur this segment’s growth.
These can be used in the simultaneous mode, in which, the selected output signal is initiated and the response of the device which is being tested, is measured by the internal multimeter at the same time. These calibrators can be controlled by personal computers with the inclusion of serial ports.
Customers are Purchasing Digital Pressure Calibrators through Online Channels
Based on the sales channel, the online channel segment is anticipated to drive the calibrators market in the near future. This growth is attributable to the increasing usage of the internet and smartphones among people across the globe.
Unlike brick-and-mortar stores, online stores are cost-effective and provide the convenience of doorstep delivery to customers located even in remote parts of the world.
Many companies are providing customization features on online stores to help customers purchase products as per their requirements. These factors are likely to drive the sales of novel digital pressure calibrators through online channels.
Industrial Segment to Showcase Steady Growth Stoked by Usage of Handheld Pressure Calibrators
In terms of end-user, the industrial segment is expected to dominate the calibrators market in the upcoming years. The rapid expansion of a large number of industry verticals globally is projected to fuel the sales of handheld pressure calibrators in the near future.
These calibrators are extensively utilized in auxiliary manufacturing, electrical & electronics, power, and process industries to enhance numerous products and processes. The ongoing technological advancements in these industries would drive their demand in the forthcoming years.
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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.
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 the production of digital calibrators for catering to the high demand from various industries.
For instance:
| Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.3% from 2023 to 2033 |
| Market Value in 2023 | USD 0.96 billion |
| Market Value in 2033 | USD 1.4 billion |
| Base Year for Estimation | 2022 |
| Historical Data | 2018 to 2022 |
| Forecast Period | 2023 to 2033 |
| Quantitative Units | Revenue in USD Billion and CAGR from 2023 to 2033 |
| Report Coverage | Revenue Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered |
Current Type, Sales Channel, End-Use, Region |
| Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; South Asia and Pacific; East Asia; Middle East & Africa |
| Key Countries Profiled | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel, Rest of MEA |
| Key Companies Profiled |
Fluke Calibration; Keysight Technologies; Beamex Oy Ab; WIKA; AMETEK INC.; OMEGA Engineering Inc.; Megger; Yokogawa Test & Measurement Corporation; ABB; Time Electronics |
The market is valued at USD 0.9 billion in 2023.
Fluke Calibration, Keysight Technologies, Beamex Oy Ab are key market players.
The market’s CAGR from 2023 to 2033 will be 4.3%.
Rising adoption of advanced calibration equipment to fuel the market.
AC segment is likely to remain preferred through 2033.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Current Type 5.1. AC 5.2. Single Phase 5.3. Handheld 5.4. Stationary 5.5. Three Phase 5.6. Handheld 5.7. Stationary 5.8. DC 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Sales Channel 6.1. Online Sales 6.2. Offline Sales 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End Use 7.1. Industrial 7.2. Electrical & Electronics 7.3. Process Industry/Process Control 7.4. Power Industry 7.5. Auxiliary Manufacturing 7.6. Laboratory 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Fluke Calibration 18.2. Keysight Technologies 18.3. Beamex Oy Ab 18.4. WIKA 18.5. AMETEK INC. 18.6. OMEGA Engineering Inc. 18.7. Megger 18.8. Yokogawa Test & Measurement Corporation 18.9. ABB 18.10. Time Electronics 19. Assumptions & Acronyms Used 20. Research Methodology
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Calibrators Market
