Global Loop Calibrators Market: Introduction
- Loop calibrators are utilized to compare electric readings with regulatory standards and correct deviations of electrical measuring tools including transformer flicker meters, arm meters, angle meters, voltmeters, and watt meters
- Loop calibrators with high storage capacity are gaining importance among users. This factor is expected to drive the global loop calibrators market during the forecast period
- In order to meet the rising demand, leading manufacturers are focusing on introducing loop calibrators enabled with high data storage capacity
- Growing adoption of automation technologies across various sectors and the trend of capturing high-definition pictures and videos are driving the demand for loop calibrators with high storage capacity
- Increased product commercialization, rapidly developing industry infrastructure and growing demand for loop calibrators are strengthening the market foothold of loop calibrators and thereby significantly contribute to the revenue generation in the global market.
Global Loop Calibrators Market: Dynamics
- Increasing demand for intrinsically safe calibration is considered a key factor driving the market
- Intrinsic safety is a standard followed in industries that manage highly explosive environments. These industries need to ensure that their operations are ‘intrinsically safe’. This guarantees that devices do not discharge energy in amounts that can cause ignition upon contact with combustible materials.
- An equipment must be free from electric sparks, electromagnetic radiation, flames, mechanical friction, arcs, and impact and ionizing radiations
- Implication of safety solutions is gaining importance in different industries such as mining, petrochemical, and pharmaceutical. Thus, intrinsically safe calibration can limit the inherent risk associated with hazard-prone workplaces.
- Moreover, increasing demand for maintaining accuracy of operations in different industries is augmenting the demand for loop calibrators
- The market is witnessing rise in the number of third-party service providers to maintain the operating condition of an increasing number of industrial equipment. These service providers track instruments at their premises and notify end-users in advance if they fail to function properly on-site. At times, end-users employ calibrators to manage small deviations.
- Increasing adoption of Industrial Internet of Things (IIoT) has also prompted end-users to adopt loop calibrators, as they can be easily connected with cloud computing
- However, increasing popularity of multifunctional calibrators causes a serious threat to manufacturers of loop calibrators, thereby hindering the market for loop calibrators
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Global Loop Calibrators Market: Segmentation
- Based on type, the global loop calibrators market can be bifurcated into wired calibrators and wireless calibrators
- In terms of end-user, the global loop calibrators market can be segmented into third-party service providers and in-house maintenance teams
- Third-party service providers is anticipated to be the primary end-user of loop calibrators across the world in the near future
- The third-party service providers segment is anticipated to gain higher market share and thereby, maintain its leading position in the global market during the forecast period. The growing need for accurate reporting of the operational condition of industrial equipment has propelled the demand for loop calibrators.
Asia Pacific to Lead Global Market for Loop Calibrators
- In terms of region, the global loop calibrators market can be divided into North America, Europe, Asia Pacific, South America, and Middle East & Africa
- Asia Pacific is likely to dominate the global market for loop calibrators from 2019 to 2027, followed by Europe and North America
- The loop calibrators market in Asia Pacific is expected to witness significant growth during the forecast period, due to industrialization and continuous urbanization in developing countries such as China and India
Key Manufacturers Operating in Global Market
The global loop calibrators market was moderately fragmented in 2018. Key manufacturers operating in the global market are:
- General Electric Company
- Additel Corporation
- AMETEK, Inc.
- Spectris plc
- Fortive (Fluke)
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Global Loop Calibrators Market: Research Scope
Global Loop Calibrators Market, by Type
- Wired Calibrators
- Wireless Calibrators
Global Loop Calibrators Market, by End-user
- Third-party Service Providers
- In-house Maintenance Teams
Global Loop Calibrators Market, by Region
- North America
- Rest of North America
- Russia & CIS
- Rest of Europe
- Asia Pacific
- Rest of Asia Pacific
- South America
- Rest of South America
- Middle East & Africa
- South Africa
- Rest of Middle East & Africa
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