Future Market Insights recently published a market research study that offers valuable insights related to the growth prospects of the global calibrators market over the forecast period, 2019-2029. The report covers critical information about the various factors that are likely to influence the overall dynamics of the market including, the current & predicted trends, growth opportunities, market drivers, challenges, and restraints. According to the report, the market value of the global calibrators market is predicted to touch ~US$ 800 million in 2019 and expected to reach a market value of ~US$ 1,200 million by the end of 2029 expanding at a compounded annual growth rate (CAGR) of ~ 4% over the forecast period, 2019-2029.
A number of factors are expected to play a key role in driving the growth of the calibrators market including, focus on enhancing the overall performance of power plants, boosting efficiency within power plants, improving safety, productivity, and profitability. Furthermore, regional and global calibration standards require calibration of electrical equipment – a factor that is playing an imperative role in boosting the sales of the calibrators market worldwide.
Adoption of new-age calibration processes to enhance plant performance on the rise
The demand for state-of-the-art calibration equipment has witnessed significant growth in recent years from multiple industrial sectors. In addition, measuring the various parameters including electric current or force is highly critical to ensure the safety of products. The calibration of different manufacturing equipment is a critical part of a manufacturing process as it plays an imperative role in improving the overall output of machines, promote workplace safety, and increase profitability. In addition, several regional and global calibration standards require regular calibration of electrical equipment. Hence, the demand for advanced calibrators is expected to witness considerable growth in the upcoming years.
North America expected to remain a prominent region
According to an analyst at Future Market Insights, “The calibrator market in North America is expected to account for over 25% of the market share over the forecast period owing to rampant growth in industrialization and urbanization. “ Further, advances in technology in the region coupled with the presence of established market players is a major factor that is expected to boost the overall prospects of the calibrators market in North America. According to the report, Europe is likely to remain the second-largest regional market in terms of market value owing to stringent regulations that mandate the calibration of electrical equipment.
Calibrators Market: Vendor Analysis The report offers significant insights related to the major market players operating within the current landscape of the calibrators market. In addition, the report includes intricate details including the company profiles, growth strategies, marketing strategies, sales footprint, product offerings, market position and more of top-tier companies in the global market. Some of the leading market players in the calibrators market are, AMETEK INC, Beamex Oy Ab, OMEGA Engineering Inc., Yokogawa Test & Measurement Corporation, ABB, and more
Download a Sample Report with Table of Contents and Figures:https://www.futuremarketinsights.com/reports/sample/rep-gb-9856