Instrument Calibrator Market to Grow at a CAGR of 5.5% to reach US$ 1,854.03 million from 2021 to 2028

Instrument Calibrator Market Forecast to 2028 - COVID-19 Impact and Global Analysis By Product Type (Temperature Calibrator, Pressure Calibrator, Electrical Calibrator, and Multifunction Process Calibrator), Modularity (Benchtop and Portable), and Industry Vertical (Automotive, Aerospace and Defense, Electronics, Food and Beverage, Pharmaceutical, Oil and Gas, and Other Industries)

Publication Month : Jul 2021

  • Report Code : TIPRE00006040
  • Category : Electronics and Semiconductor
  • Status : Published
  • No. of Pages : 180
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The instrument calibrator market is expected to grow from US$ 1,277.57 million in 2021 to US$ 1,854.03 million by 2028; it is estimated to grow at a CAGR of 5.5% during 2021–2028.

The availability of tabletop and portable instrument calibrators in both established and emerging nations has been instrumental in the performance of the instrument calibrator market growth. The widespread use of portable calibrators owing to their user-friendly interface and affordable prices is adding to their demand worldwide. To gain a major market share, manufacturers are developing low-cost instrument calibrators. For instance, the portable CA700 Precision Pressure Calibrator was recently released by Yokogawa Test & Measurement Corporation. High precision, long stability, and robust support for field calibration and maintenance work are the features of this portable calibrator. WIKA Alexander Wiegand SE & Co. KG recently launched electrical calibration instruments which are used in laboratories, production plants, workshops; calibration service companies and quality assurance departments are the major end users of these equipment.

Impact of COVID-19 Pandemic on North America Instrument Calibrator Market

The COVID-19 pandemic had a negative impact on the global instrument calibrator market in the year 2020. Since the outbreak of COVID-19, all manufacturing processes across the world have been temporarily closed to combat the spread of COVID-19 and comply with the social distancing norms laid down by local and federal government bodies. Therefore, the closure of manufacturing units is resulting into logistic issues. However, as the manufacturing processes resumed from the 3rd quarter of 2020, and the demand for instrument calibrator started to recover, manufacturers were able to stabilize the overall revenue and cashflow.

Lucrative Regions for Instrument Calibrator Providers

Lucrative Regions for Instrument Calibrator Providers
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Instrument Calibrator Market Insights

Favourable Government Regulations and Technological Developments Fuels Growth of Instrument Calibrator Market

Government regulatory authorities such as the Food and Drug Administration (FDA) and the Environmental Protection Agency (EPA) require strict adherence to regulates emissions of various manufacturing plants, among other processes. Companies that use mercury in their manufacturing processes need to calibrate sensors that monitor plant emissions to ensure the absence of mercury in the discharge, as it can harm the adjacent environment and ecosystems. The FDA regulates to calibrate regular basis on chemical makeup of drugs. So test and measurement of the equipment are done to verify correct measurements and the operation of manufacturing equipment that controls the errors while manufacturing the chemical makeup of drugs.

BEAMEX provides of calibration solutions for improving the calibration process worldwide. It offers Beamex CMX calibration management software for the process industries; the product assists in planning, managing, analyzing, and documenting the calibration activities and assets with greater efficiency and security. Beamex LOGiCAL is a subscription-based calibration software. Beamex bMobile is a mobile application for executing and documenting instrument calibration, maintenance-related inspection, and weighing instrument calibration processes.

Product Type - Based Market Insights

Based on product type, the instrument calibrator market is segmented into temperature calibrator, pressure calibrator, electrical calibrator, and multifunction process calibrator. In 2020, the pressure calibrator segment led the instrument calibrator market, accounting for the largest share in the market.

Instrument Calibrator Market, by Product Type, 2020 and 2028 (%)

Instrument Calibrator Market, by Product Type, 2020 and 2028 (%)
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Modularity - Based Market Insights

Based on modularity, the instrument calibrator market can be segmented into benchtop and portable. In 2020, the portable segment accounted for a larger market share.

Industry Vertical - Based Market Insights

Based on industry vertical, the instrument calibrator market can be segmented into automotive, aerospace and defense, electronics, food & beverage, pharmaceutical, oil and gas, and other industries. In 2020, the other industries segment accounted for the largest market share.

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Instrument Calibrator Market: Strategic Insights

instrument-calibrator-market
Market Size Value inUS$ 1,277.57 Million in 2021
Market Size Value byUS$ 1,854.03 Million by 2028
Growth rateCAGR of 5.5% from 2021-2028
Forecast Period2021-2028
Base Year2021
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The players operating in the instrument calibrator market adopt strategies such as mergers, acquisitions, and market initiatives to maintain their positions in the market. A few developments by key players are listed below:

  • In January 2020, AMETEK STC is pleased to present the new JOFRA CTC-652 temperature calibrator. The CTC-652 is the tallest of JOFRA’s CTC Series calibrators and is the only industrial-grade temperature calibrator with a 200 mm insert.
  • In March 2019, The 8588A Reference Multimeter is the world’s most stable digitizing multimeter. Designed for calibration standards laboratories, this reliable digital multimeter holds the industry’s best one-year dc voltage accuracy and pushes the speed.

The Global Instrument Calibrator Market has been Segmented as Mentioned Below:

By Product Type

  • Temperature Calibrator
  • Pressure Calibrator
  • Electrical Calibrator
  • Multifunction Process Calibrator

By Modularity

  • Benchtop
  • Portable

By Industry Vertical

  • Automotive
  • Aerospace and Defense
  • Electronics
  • Food and Beverage
  • Pharmaceutical
  • Oil and Gas
  • Other Industries

By Geography

  • North America

    • US
    • Canada
    • Mexico
  • Europe

    • France
    • Germany
    • Italy
    • UK
    • Russia
    • Belgium
    • Netherlands
    • Rest of Europe
  • Asia Pacific (APAC)

    • China
    • India
    • South Korea
    • Japan
    • Australia
    • Rest of APAC
  • Middle East & Africa (MEA)

    • South Africa
    • Saudi Arabia
    • UAE
    • Rest of MEA
  • South America (SAM)

    • Brazil
    • Argentina
    • Rest of SAM

Company Profiles

  • AMETEK Inc.
  • Baker Hughes Company
  • Extech Instruments
  • Fluke Corporation
  • Yokogawa Electric Corporation
  • WIKA Alexander Wiegand SE & Co. KG
  • Additel
  • Beamex Oy Ab
  • Calmet
  • Spectris
Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

Product Type, Modularity , and Industry Vertical

Regional Scope
Regional Scope

North America, Europe, Asia Pacific, Middle East & Africa, South & Central America

Country Scope
Country Scope

Argentina, Australia, Belgium, Brazil, Canada, China, France, Germany, India, Italy, Japan, Mexico, Netherlands, Russian Federation, Saudi Arabia, South Africa, South Korea, United Arab Emirates, United Kingdom, United States

Frequently Asked Questions


What are key reasons behind instrument calibrator market growth?

High demand from pharmaceuticals industry, stringent regulatory environment in aerospace & defence, and technological advancements and affordability of calibrators are propelling the demand of instrument calibrator market.

What are market opportunities for instrument calibrator market?

The favourable government regulations and technological developments in instrument calibrator anticipated to create a market opportunity for instrument calibrator market.

Which product type is expected to dominate the market in the forecast period?

Based on product type, the instrument calibrator market is segmented into temperature calibrator, pressure calibrator, electrical calibrator, and multifunction process calibrator. In 2020, the pressure calibrator segment led the instrument calibrator market, accounting for the largest share in the market.

Which region has dominated the global instrument calibrator market?

In 2020, Asia Pacific led the market with a substantial revenue share, followed by North America and Europe.

Which are the major companies in the instrument calibrator market?

The major companies in instrument calibrator includes Fluke Corporation, Baker Hughes Company (Druck), Spectris (OMEGA Engineering), Yokogawa Electric Corporation and AMETEK Inc.

Which are the major industries for instrument calibrator applications?

The major industries in instrument calibrator includes automotive, aerospace and defense, electronics, food and beverage, pharmaceutical, oil and gas, and other industries. In 2020, the other industries segment accounted for the largest market share.

The List of Companies - Instrument Calibrator Market

  1. AMETEK Inc.
  2. Baker Hughes Company
  3. Extech Instruments
  4. Fluke Corporation
  5. Yokogawa Electric Corporation
  6. WIKA Alexander Wiegand SE & Co. KG
  7. Additel
  8. Beamex Oy Ab
  9. Calmet
  10. Spectris

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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