Multifunction Calibrator Market Scope
Multifunction process calibrator refers to handheld, the battery-operated instrument which measures & sources electrical as well as physical parameters. Some of the major product features of multifunction calibrator are signal generation & measurement capability, auto step function, Sweep functions, among others. It is used in various application such as temperature sensors, electrical measuring instruments, power meter, pressure gauges, gas analyzers, sound level meters, among others
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
Key Companies Profiled | Additel Corporation (United States), Ametek, Inc. (United States), Fluke Corporation (United States), General Electric Company (United States), WIKA Instruments India Private Limited (India), Fluke Corporation (United States), Yokogawa Electric Corporation (Japan), Transmille Ltd (United Kingdom), Martel Electronics Sales Inc. (United States), Beamex Oy Ab (Finland) and GE Measurement & Control Solutions (United States) |
CAGR | 5.7% |
The market is highly fragmented with the presence of various players in the market. Some of the major players operating in the market are Additel Corporation (United States), Ametek, Inc. (United States), Fluke Corporation (United States), General Electric Company (United States), among others. Research Analyst at AMA estimates that United States Players will contribute to the maximum growth of Global Multifunction Calibrator market throughout the predicted period.
Additel Corporation (United States), Ametek, Inc. (United States), Fluke Corporation (United States), General Electric Company (United States), WIKA Instruments India Private Limited (India), Fluke Corporation (United States), Yokogawa Electric Corporation (Japan), Transmille Ltd (United Kingdom), Martel Electronics Sales Inc. (United States), Beamex Oy Ab (Finland) and GE Measurement & Control Solutions (United States) are some of the key players that are part of study coverage. Additionally, the Players which are also part of the research are Meriam (United States), Ralston Instruments (United States), Nagman Instruments & Electronics Ltd. (India), OMICRON electronics GmbH (Austria), Sanwa Electric Instrument (Japan), Tecpel Co., Ltd. (Taiwan) and Meatest spol. s r.o (Czech).
About Approach
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
Segmentation Overview
The study have segmented the market of Global Multifunction Calibrator market by Type , by Application (Temperature Sensors, Electrical Measuring Instruments, Power Meter, Pressure Gauges, Gas Analyzers, Sound Level Meters and Others) and Region with country level break-up.
On the basis of geography, the market of Multifunction Calibrator has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico).
region held largest market share in the year 2023.
Market Leaders and their expansionary development strategies
In September 2022 ,Druck, a Baker Hughes business and industry leader in pressure measurement technology and instrumentation, has announced the launch of ground-breaking new pressure calibration technology.
In March 2023,Beamex has recently launched an important functionality update for its HART-enabled MC6 Advanced Field Calibrator and Communicator family. The update is included in firmware version 4.40, which was released in February 2023 and enables MC6 users to partially calibrate air-operated valves by powering up the valve controller, generating the input mA signal, and reading the digital output signal with just one device.
Influencing Trend:
Rising Number of Customer from Online Channel
Market Growth Drivers:
Rising Demand for On-Site Calibration Services and Increasing Demand for Real-Time Data in Industries and Increasing Usage of Multifunction Calibrator in Various Application
Challenges:
Lack of Awareness in Some Region
Restraints:
Issue related to High Risk from Individual Calibrators
Opportunities:
Growing Demand from Emerging Market such as China, India, Brazil, among others
Key Target Audience
Manufacturers of Multifunction Calibrator, Suppliers of Multifunction Calibrator, Wholesalers, Distributors and Retailers of Multifunction Calibrator, Research and Development (R&D) Companies, Research Organization, Federal Agencies and Others