Temperature Calibration Equipment Market Forecast and CAGR
According to latest research study by Fact.MR, the temperature calibration equipment market is projected to witness a convenient growth rate of more than 5% during the assessment period. The high demand from the chemical, food & beverages and automobile industries is likely to boost the production capacity in next couple of years.
In addition to this, the growing temperature sensor technology in residential and industrial application is attributed to generate convenient demand for temperature calibration equipment across the globe and likely to provide promising stance to the manufacturers.
What is Driving Demand for Temperature Calibration Equipment?
The growing pharmaceutical and healthcare industry is projected to provide abundant opportunities to manufactures across the globe. Since temperature calibration devices are extensively used for storage facilities. Moreover, it also aids to control the rate of reaction, which controls the property of the desired product.
The intensifying demand from chemical industries for R&D and temperature measurement activity is projected to account for noteworthy demand in near future.
The versatility of the product makes it useful for various end-use industries such as automotive, pharmaceutical, scientific laboratories, aerospace and oil & gas industries. Due to high utilization from these industries, the production volume is anticipated to surge during the forecast period.
The rising investment for R&D has raised the number of laboratories across the globe. It is attributed to providing a promising stance to the manufacturers across all the prominent regions in the early future. Application such as temperature measurement and simulation is projected to provide a plethora of opportunities to manufacturers across the globe.
Additionally, the expanding industrialization and presence of advance retail outlook across the globe are attributed to generating noteworthy demand during the forecast period.
Know More Details About the Report
Global Overview of Temperature Calibration Equipment
North America currently holds the prominent market share of temperature calibration market. Due to the presence of large chemical and automobile markets. Moreover, rising government spending on R&D and healthcare infrastructure is attributed to provide a positive outlook to the expansion of the laboratories, providing a promising stance to manufacturers in this region.
Due to rapid industrialization, the Asia Pacific region is anticipated to hold the noteworthy demand in near future. The rapid industrialization is attributed to providing a promising stance to the manufacturers for capital expansion in the Asia Pacific. Moreover, intensifying the e-distribution channel in developed countries such as India, China, Singapore and Australia is projected to account for convenient demand during the period of forecast.
Europe is likely to generate a plethora of opportunities for manufacturers due to the presence of a large pharmaceutical market across the globe. The historical trend of the market is expected to witness an optimistic growth rate in near future. Moreover, this region is likely to hold a significant market share of the global market during the assessment period.
Automobile, chemical, oil & gas and food & beverages industries around the globe have been extensively impacted by COVID-19 protocols. This has had a ripple effect on the demand for temperature calibrators, retail and chemical industry sales as well. Due to this, the demand for temperature calibrator equipment has been constrained in Q3 and Q4 of 2020 and impacted the production volume and sales.
Although, the historical trend is anticipated to provide an optimistic growth rate in near future. The surging investment in laboratories and R&D activities in various end-use industries is anticipated to rise the utilization of temperature calibrators.
Avail customized purchase options for your needs
Automatic Temperature calibration equipment is likely to be a lucrative avenue from the consumer’s end since it reduces human efforts and reduces the probability of errors during the reading measurements. The optimistic trend towards automation is attributed to a surge in the production volume of automatic temperature calibration equipment across the globe.
Moreover, the low-Temperature range (>0 degrees C) calibrators are likely to witness an optimistic growth rate from food and beverages industries and storage facilities whether high-Temperature rating calibrators are expected to be a lucrative avenue from the industrial and laboratories applications globally.
Who are the Key Manufacturers and Suppliers of Temperature Calibration Equipment?
Some of the leading manufacturers and suppliers of Temperature Calibration Equipment include
- Crystal Engineering
- Druck, Dwyer Instruments
- Fluke Calibration
- IKM Instrutek
- Martel Electronics
- PIE Practical Instrument Electronics
Leading manufacturers across the globe are continuously rising their expenditure on improving the versatility of the product so that it could be useful for measuring a large range of temperatures and for other industries as well. Moreover, high R& D investment is likely to improve the calibration rate and efficiency to obtain a precise result.
The trend towards the utilization of automatic gadgets is attributed to providing abundant number of opportunities to the manufacturers to develop a variety of product portfolios for satisfying the consumer’s demand across the globe.
An Adaptive Approach to Modern-day Research Needs
Temperature Calibration Equipment Market Report Highlights:
- Detailed overview of parent market
- Changing market dynamics in the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and products offered
- Potential and niche segments, geographical regions exhibiting promising growth
- A neutral perspective on market performance
- Must-have information for market players to sustain and enhance their market footprint
By Product Type
- Portable temperature sensor
- Dry block temperature calibrators
- Temperature bath calibrators
- Infrared temperature calibrators
By Temperature Range
- < 0 degree C
- 0-5 degree C
- 5-10 degree C
- 10-20 degree C
- >20 degree C
- Physical Heat
- Temperature Measurement
By End Use Industries
- Chemical Industry
- Pharmaceutical Industry
- Food& Beverages
- Automotive Industry
- Aviation Industry
- Scientific Laboratories
- Oil & Gas Industry
By Distribution Channel
- Specialty Stores
- Multi-brand Stores
- Retail Sales
- Distributor Sales
- E-commerce Websites
- Company-owned Websites
- North America
- US & Canada
- Latin America
- Brazil, Mexico, Argentina & Rest of Latin America
- Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
- East Asia
- China, Japan, South Korea
- South Asia
- India, Thailand, Malaysia, Indonesia and Rest of South Asia
- Australia and New Zealand
- Middle East and Africa
- GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
- North America
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, inputs from industry experts and industry participants across the value chain. The report provides in-depth analysis of parent market trends, macro-economic indicators and governing factors along with market attractiveness as per segments. The report also maps the qualitative impact of various market factors on market segments and geographies.
NOTE: Although care has been taken to maintain the highest levels of accuracy in reports, recent market/vendor-specific changes may time to reflect in the analysis.
Need an Exclusive Report for your Unique Requirement?
- Related Reports -
The Rise of Intelligent Packaging
Personalized, Connected and Sustainable
- Our Clients -
- Evaluate How Fact.MR's Report Can Help. -
Is the market research conducted by Fact.MR?
Yes, the report has been compiled by expert analysts of Fact.MR, through a combination of primary and secondary research. To know more about how the research was conducted, you can speak to a research analyst.
What research methodology is followed by Fact.MR?
Fact.MR follows a methodology that encompasses the demand-side assessment of the market, and triangulates the same through a supply-side analysis. This methodology is based on the use of standard market structure, methods, and definitions.
What are the sources of secondary research?
Fact.MR conducts extensive secondary research through proprietary databases, paid databases, and information available in the public domain. We refer to industry associations, company press releases, annual reports, investor presentations, and research papers. More information about desk research is available upon request.
Who are the respondents for primary research?
Fact.MR speaks to stakeholders across the spectrum, including C-level executives, distributors, product manufacturers, and industry experts. For a full list of primary respondents, please reach out to us.
Is a sample of this report available for evaluation?
Yes, you can request a sample, and it will be sent to you through an email.