Loop Calibrators Market Size & Growth Analysis to 2030

The global loop calibrators market size is anticipated to register a significant CAGR of around 8% during the forecast period and expected to reach over USD 150 million by 2027. The growing automation and process control and the rising demand for calibration maintenance in industrial manufacturing applications are some of the major factors to drive the market growth. Furthermore, the increasing demand for intrinsically safe calibration to meet intrinsic safety standards is further anticipated to boost the market growth. Moreover, the rising focus to maintain operation efficiency in various industries is expected to increase the demand for loop calibrators.

Market Drivers:

Calibration and Maintenance Requirements: Loop calibrators are essential tools for calibrating, maintaining, and troubleshooting process control instrumentation and loops. They provide precise measurements and simulate process signals, enabling technicians and engineers to ensure the accuracy and reliability of control loops. The ongoing need for calibration and maintenance activities in industries such as oil and gas, chemical, pharmaceutical, and manufacturing drives the demand for loop calibrators.

Increasing Industrial Automation: The growing trend of industrial automation and the adoption of advanced control systems contribute to the demand for loop calibrators. As industries increasingly rely on automated processes and instrumentation, there is a need for efficient calibration tools to ensure optimal performance, accuracy, and safety. Loop calibrators play a crucial role in maintaining and fine-tuning the control loops that regulate automated processes.

Compliance with Regulatory Standards: Industries are subject to various regulatory standards and quality requirements that mandate regular calibration and verification of process instrumentation. Loop calibrators help companies meet these regulatory compliance requirements, ensuring that their instruments operate within specified tolerances and accuracy limits. Compliance with standards such as ISO, FDA, and IEC drives the demand for loop calibrators.

Technological Advancements: Technological advancements in loop calibrator design and functionality contribute to market growth. Manufacturers are constantly introducing innovative features, such as wireless connectivity, touchscreens, data logging capabilities, and multi-functionality, to enhance the performance and user-friendliness of loop calibrators. These advancements attract users looking for more efficient and convenient calibration solutions.

Increasing Complexity of Process Control Systems: Modern process control systems involve complex networks of instruments, sensors, and control loops. As the complexity of these systems increases, so does the need for accurate calibration and troubleshooting tools. Loop calibrators offer advanced diagnostic capabilities, allowing technicians to identify and address issues quickly, minimizing downtime and optimizing process performance.

Focus on Operational Efficiency and Cost Reduction: Industries are continually seeking ways to improve operational efficiency and reduce costs. Loop calibrators help achieve these objectives by enabling accurate calibration, reducing process variability, and minimizing waste. By ensuring that process control loops operate at peak performance, loop calibrators contribute to improved efficiency, reduced energy consumption, and increased cost savings.

Expansion of Process Industries: The growth of process industries, such as oil and gas, chemical, power generation, and water treatment, drives the demand for loop calibrators. These industries require precise and reliable calibration tools to ensure the accuracy and stability of their process control systems. As new plants and facilities are constructed or existing ones expand, the demand for loop calibrators increases.

Emphasis on Safety and Risk Mitigation: Safety is a critical consideration in process industries, and accurate calibration of control loops is essential for maintaining safe operating conditions. Loop calibrators help identify and rectify control loop deviations that can pose safety risks. The focus on safety and risk mitigation drives the adoption of loop calibrators as integral tools in ensuring safe and reliable process operations.

Training and Skill Development: Proper training and skill development programs for technicians and engineers are crucial for efficient calibration and maintenance practices. The availability of comprehensive training programs and certifications in loop calibration increases the demand for loop calibrators. Companies invest in these tools to support their skilled workforce and enhance calibration capabilities.

Globalization and Industrial Expansion: Globalization has led to the expansion of industries across regions, particularly in emerging economies. As industries expand their operations, the need for calibration tools, including loop calibrators, also increases. The growth of industries in developing markets, coupled with investments in infrastructure development, drives the demand for loop calibrators in these regions.

Market Snapshot:

Market Insights:

The global loop calibrators market is bifurcated into type, end-user, and geography. On the basis of type, the market is segmented into wired and wireless sub-segment. The third-party service providers segment dominated the global market in 2020 and is expected to hold the largest revenue share of around two-third percent of the market by the end of the analysis period. The increasing demand for maintaining operation conditions coupled with the growing industrialization is a prominent factor to drive the segment growth. Furthermore, the increasing penetration of industrial IoT (Internet of Things) is further anticipated to fuel the segment growth over the forecast period.

To know more about the report, request sample papers

The loop calibrators comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2021 to 2027. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market, and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The loop calibrators market research report presents the analysis of each segment from 2018 to 2027 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2018-19 – Historical Year
• 2020 – Base Year
• 2021-2027 – Forecast Period

Market Segmentation:

By Type:

• Wired
• Wireless

By End-User:

• Third-Party Service Providers
• In-House Maintenance

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Geographic Coverage

Geographically, the loop calibrators market report comprises dedicated sections centering on the regional market revenue and trends. The loop calibrators market has been segmented on the basis of geographic regions into North America, Europe, Asia Pacific, and Rest of the World (RoW). The RoW segment consists of Latin America and the Middle East & Africa. The loop calibrators market has been extensively analyzed on the basis of various regional factors such as demographics, gross domestic product (GDP), inflation rate, acceptance, and others. Loop calibrators market estimates have also been provided for the historical years 2018 & 2019 along with forecasts for the period from 2021 – 2027.

Competitive Assessment

Some of the major market players operating in the global loop calibrators market are General Electric Company, Additel Corporation, AMETEK, Inc., Spectris plc, and Fluke. Companies are exploring markets by expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• General Electric Company
• Additel Corporation
• AMETEK, Inc.
• Spectris plc
• Fluke
• Meriam Process Technologies
• Meatest spol. s r.o.
• TES Electrical Electronic Corp.
• Time Electronics
• Omega (Spectris plc)

Key Questions Answered by Loop Calibrators Market Report

• Global loop calibrators market forecasts from 2021-2027
• Regional loop calibrators market forecasts from 2021-2027 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2021-2027 covering 15 major countries from the regions as mentioned above
• Loop calibrators submarket forecasts from 2021-2027 covering the market by type, by end-user, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about loop calibrators market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level loop calibrators markets from 2021-2027
• Competitive Landscape and market positioning of top 10 players operating in the loop calibrators market