Voltage Calibrator Market
The global voltage calibrator market is poised to have a favorable growth at 6.49% CAGR over the predicted years (2018-2023). The voltage calibrator put merely, is a device that is utilized for measuring, testing and also regulation methods for setting and verifying test installations as well as instrumentation.
It is being widely used across different industry verticals including semiconductors, aerospace and defense, automotive and others as it ensures product quality and reliability. These calibrators require after sale services namely repair, recalibration and maintenance services which retains the voltage calibration’s integrity thereby allowing a smooth and hassle-free functioning of many applications.
There are ample factors that is boosting the growth of the voltage calibrator market. These factors as stated by the Market Research Future (MRFR) report include growing consumer demand for power-efficient and smart devices, various benefits that it offers such as reliability, durability, lightweight and high-performance, increasing use of voltage calibrators in various electronic device manufacturing process, increasing distributor networks across the globe that offer voltage calibrators to various end-users and growing significance of electronic calibration for getting higher quality product. On the contrary, soaring initial investment of voltage and current calibrators is likely to impede the growth of the voltage calibrator market over the predicted years.
North America to Dominate Voltage Calibrator Market due to Leading Role Played by U.S.
The global voltage calibrator market is expected to grow at a CAGR of 6.49% over the forecast period from 2018 to 2023, according to the latest research report published by Market Research Future (MRFR). The MRFR report provides a comprehensive overview of the global voltage calibrators market, including a detailed analysis of the market’s leading drivers and restraints, key players, and leading segments.
Voltage calibrators are used in measuring and testing applications for new wiring and electrical systems. The growing demand from the utilities sector is likely to be a major driver for the global voltage calibrator market over the forecast period. The utilities sector has the highest consumption of voltage calibrators due to the need to maintain the proper voltage across the power generation and distribution architecture. The growing demand for the renovation of power distribution infrastructure in developed countries is also likely to be a major driver for the global voltage calibrators market over the forecast period.
The growing semiconductors industry is also likely to be a key driver for the global voltage calibrators market over the forecast period. The semiconductors industry uses voltage calibrators on a large scale in the production of chips and other products where tolerances can be low and voltage regulation may play a key part in ensuring product longevity.
Geographical Perspective of Voltage Calibrator Market
With the popularity of many well-known players of the global voltage calibrator market, it is mainly the U.S., where the growing adoption of voltage calibrators to protect electronic devices in both industries and homes is seen. Due to this, the North American region can occupy the largest share of the global voltage calibrator market during the forecast period. Furthermore, the upward concerns among the people to protect their electronic appliances from voltage fluctuations in the North American region are growing the most in the global voltage calibrator market. In fact, the US alone occupies nearly 80%-85% share as most of the foremost vendors are headquartered here with a well-built customer base. These include companies, for example, Extech Instruments, REED Instruments, Practical Instrument Electronics, Inc., Valhalla Scientific Inc., Fluke Corporation, Calibrators Inc., Schweitzer Engineering Laboratories, Inc., and General Electric Company.
Leading players in the global voltage calibrators market include Engie Laborelec, Powerpoint Engineering Ltd., Schweitzer Engineering Laboratories Inc., General Electric Company, Fluke Corporation, Nagman, Practical Instrument Electronics Inc., Calibrators Inc., Valhalla Scientific Inc., Yokogawa Test & Measurement Corporation, AOIP, REED Instruments, PCE Holding GmbH, Extech Instruments, and Time Electronics Ltd. Leading players in the global voltage calibrators market are expected to engage in significant product development in the coming years as the demand for voltage calibrators grows steadily.
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