Market Analysis
The voltage calibrator market size will develop at 6.49% CAGR between 2018- 2023, as per the current Market Research Future (MRFR) analysis. A voltage calibrator is a device that is used to measure, test, and regulate methods for setting as well as verifying test installations as well as instrumentation. It confirms the quality and reliability of the product that is being manufactured. Bench and handheld are the different types of voltage calibrators that are used in field and research and have wide applications in utilities, aerospace and defense, healthcare and pharmaceutical, semiconductor, telecommunication and IT, as well as others.
Various factors are propelling the global voltage calibrator market share. According to the recent MRFR report, such factors include rising applications across electronic device manufacturing processes, rising significance of electronic calibration to avail higher quality product, and growing distributor networks worldwide that offer voltage calibrators to several end users. Additional factors fuelling market growth include increasing adoption in the semiconductor industry, technological advances, and headway in R&D exercises and innovation.
On the contrary, high initial cost and the ongoing COVID-19 impact may impede the global voltage calibrator market growth over the forecast period.
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Market Segmentation
The MRFR report highlights an inclusive segmental analysis of the global voltage calibrator market based on vertical, end user, component, and type.
By type, the global voltage calibrator market is segmented into bench and handheld. Of these, the bench type segment will lead the market over the forecast period.
By component, the global voltage calibrator market is segmented into services and product. Of these, the services component segment will dominate the market over the forecast period.
By end user, the global voltage calibrator market is segmented into field and research.
By vertical, the global voltage calibrator market is segmented into utilities, aerospace and defense, healthcare and pharmaceutical, semiconductor, telecommunication and IT, and others. Of these, the semiconductor vertical segment will command the largest share in the market over the forecast period.
Regional Analysis
Based on the region, the global voltage calibrator market report covers the recent trends and growth opportunities across the Asia Pacific (APAC), North America, Europe, & the Rest of the World (RoW). Of these, North America will have the lions share in the market over the forecast period. Booming utility and semiconductor sectors in Canada and the US, coupled with the presence of several renowned manufacturers, is adding to the global current and voltage calibrators market growth in the region.
The global voltage calibrator market in the APAC region is predicted to have healthy growth over the forecast period. The presence of leading manufacturers and increasing use of voltage calibrators are adding to the global voltage calibrator market growth in the region.
The global voltage calibrator market in Europe is predicted to have sound growth over the forecast period while that in the Rest of the World is predicted to have steady growth over the forecast period.
Key Players
Notable contenders profiled in the global voltage calibrator market report include ENGIE LABORELEC (Belgium), Powerpoint Engineering Ltd (Ireland), Schweitzer Engineering Laboratories, Inc. (US), General Electric Company (US), Fluke Corporation (US), Nagman (India), Practical Instrument Electronics, Inc.(US), Calibrators Inc. (US), Valhalla Scientific Inc. (US), Yokogawa Test & Measurement Corporation (Japan), REED Instruments (US), AOIP (France), PCE Holding GmbH (Germany), Extech Instruments (US), and Time Electronics Ltd. (UK). Industry players have incorporated several strategies such as mergers and acquisitions, partnerships, joint ventures and collaborations, strategic alliances, contracts, geographic expansions, new product launches and new product developments, extensive research, and development activities, and others to stay at the forefront and also cater to the consumers growing needs.
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Market Research Future (MRFR) is a global market research firm that takes great pleasure in its services, providing a detailed and reliable study of diverse industries and consumers worldwide. MRFR's methodology integrates proprietary information with different data sources to provide the client with a comprehensive understanding of the current key trends, upcoming events, and the steps to be taken based on those aspects.
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