The Global Loop Calibrators Market Is Estimated At US$128.2 Million In The Year 2022, Is Projected To Reach A Revised Size Of US$207.8 Million By 2030, Growing at a CAGR Of 7.1% Over The Analysis Period 2023-2030

Market Overview:

Electrical measuring tools like flicker meters, arm meters, and angle meters all have their own unique features and differences. Loop calibrators can be used to calibrate meters, voltmeters, and watt meters. They can also be used to compare electric readings to regulatory requirements. Users are showing a growing preference for loop calibrators with a significant increase in the amount of space they can use. During the time frame of the projection, it is expected that this factor will be one of the main reasons why the global market for loop calibrators will grow. The main companies in the industry are currently working on loop calibrators that can store a lot of data. This is being done to meet the needs of customers, whose needs are growing.

Also, the growing use of automation technologies in a wide range of business sectors and the growing trend of getting high-definition images and videos are driving up the demand for loop calibrators with a lot of storage space. At the moment, the rate of product commercialization is speeding up, and other factors, like the growth of industry infrastructure and the growing demand for loop calibrators, are helping to strengthen the market position of loop calibrators and make money in the global market. Loop calibrators are pieces of equipment that are made with the main goal of finding problems with current loops. Getting this done can be done in a number of different ways. The main reason why the market for loop calibrators is growing is because more and more people are using digitalization and automation technologies. In the coming years, there will also be a higher demand for loop calibrators because of the need to keep industrial processes accurate and the growing need for on-site calibration. Because of this, the need for loop calibrators is likely to go up.

Increasing demand for intrinsically safe calibration is considered a key factor driving the market

In the areas of the economy that are responsible for the management of highly explosive environments, intrinsic safety is the typical practice. It is required of certain areas of the economy to produce evidence that their business practices are "intrinsically safe." This ensures that the devices do not produce sufficient energy to cause combustible materials to catch fire when they come into contact with them and that they do not start fires when they come into contact with other combustible items. The apparatus must be free of all of the hazards listed above, including electric sparks, electromagnetic radiation, flames, arcs, mechanical friction, and impact. Furthermore, there must not be any ionizing radiation present.

In the mining, petrochemical, and pharmaceutical industries, the application of safety measures is becoming an increasingly significant feature. As a consequence of this, calibrating in a manner that is inherently secure can contribute to the mitigation of risks that are already existing in hazardous working settings. Across addition, there is a growing need for loop calibrators as a consequence of the increased significance that is placed on retaining operational precision in a wide variety of business sectors. This is leading to an increase in the demand for loop calibrators.

Growth Factors of the Loop Calibrators Market:

The global market for loop calibrators can be segmented into two distinct groups, namely wired calibrators and wireless calibrators, based on the type of equipment that is being sold to end users. These categories are wired calibrators and wireless calibrators, respectively. On the international market for loop calibrators, there are two distinct categories of end-users that can be distinguished from one another: third-party service providers and in-house maintenance teams. These two categories are the most natural ways to analyses the global market for loop calibrators.

It is projected that in the not too distant future, the principal end-users of loop calibrators would most likely consist of third-party service providers that are located in various regions of the world. This prediction was made based on current market trends. It is anticipated that the business sector of third-party service providers would increase its market share during the aforementioned time period, and as a consequence, will continue to occupy the position of leadership on the international market. As a result of the requirement for exact reporting on the working state of industrial equipment, there has been an increase in the demand for loop calibrators.

Application Insights:

On the basis of the application, the market can be broken down into a wide number of subcategories, some of which include in-house maintenance teams, third-party service providers, and others. The second sector is made up of a diverse assortment of firms, some of which include companies that manufacture automobiles, establishments that repair automobiles, and businesses that sell consumer electronics. The in-house maintenance teams segment of the worldwide loop calibrators market held a significant share in 2017, due to the increased need for advanced equipment inside telecom networks from both large and small operators all over the world. This was as a result of the fact that in-house maintenance staff have a higher probability of having access to the most recent technologies.

It is projected that third-party service providers would enjoy the highest growth rate in the global market for loop calibrators over the course of the forecast period. This is due to the fact that third-party service providers are not directly competing with the direct competitors. This is because they are able to provide a greater variety of services than the other market competitors, including network maintenance and troubleshooting.

During the projection period, North America is anticipated to be the largest market by region.

By a large margin, the amount of total market revenue that came from North America in 2019 was the highest it had ever been. Due to the growing demand for high-speed internet and the growing number of fiber networks in many different industries, it is expected that the region will continue to be the most important during the projected period. This is because more and more people want fast internet. Also, it is expected that the fact that big service providers like AT&T and Verizon Communications are in the area and offer their services through fiber optics will help the area grow even more. This is because both of these businesses offer their services to people in the area. Due to the growing demand for wireless loop calibrators from industries like automotive, aerospace, and defense, it is expected that Europe will grow moderately during the projection period. This is likely to happen because there is more demand for wireless loop calibrators. Because there are more industrial and commercial facilities in the Asia-Pacific region than in other places, it is expected that this area will grow faster than other places. During the projection period, it is expected that the Middle East and Africa will have a small amount of growth. This is because more industries, like oil and gas, mining, and construction, will need wireless loop calibrators. This growth is likely to be driven by these industries' growing need for wireless loop calibrators.

Scope Analysis

In Nov, 2022: AMETEK Announces Two Acquisitions

The announcement that AMETEK, Inc. has successfully completed the closing on two acquisitions, namely Navitar, Inc. and RTDS Technologies, Inc., has been made public by the company. The entire amount of money that AMETEK spent on these acquisitions was around $430 million, and the business also gained approximately $100 million in yearly sales as a result of these acquisitions.

 In March, 2018: Additel Corporation introduces their new ADT875 Dry Well Calibrator series

Temperatures range from –40 degrees Celsius to +660 degrees Celsius. The low temperature range can be anywhere from –40C° to 155°C (ADT875-155), the mid-temperature range can be anywhere from 33°C to 350°C (ADT875-350), and the high temperature range can be anywhere from 33°C to 660°C (ADT875-660) (ADT875-660). The Additel Corporation has unveiled its brand-new ADT875 Dry Well Calibrator series, which is comprised of three cg-13 models that each specify stability, radial and axial uniformity, loading, and hysteresis. There is a connection between these performance criteria and the guidelines that have been published in Euramet. This particular series was initiated by Additel Corporation.

In Feb., 2013: Fluke 709H Precision Current Loop Calibrator delivers the power of HART communications in a compact test tool 

Fluke Corporation introduces the Fluke 709H Precision Current Loop Calibrator with HART Communications, an affordable, easy-to-use tool with a user-friendly interface and HART capabilities that reduces the time it takes to measure or source, voltage or current, and power up a loop. With its best-in-class accuracy at 0.01 percent reading, the Fluke 709H is ideal for process technicians who need a precise loop calibrator and powerful HART communicator in one compact, rugged, reliable tool.

In Dec , 2022:NTPC Limited and GE Power India Limited sign MoU to reduce carbon intensity from NTPCs coal fired units

Carbon reduction from coal power plants is a key challenge and co-firing of low carbon fuel will facilitate the transition towards a low carbon energy economy and subsequent to “Net Zero” emissions. In its efforts to adopt advanced powering technology to decarbonize power generation in India, NTPC Ltd., the country’s largest power generating utility, and GE Power India Limited, a listed company of GE Steam Power in India signed a Memorandum of Understanding (MoU) for feasibility to demonstrate technologies to reduce the carbon footprint of NTPC’s existing coal fired power plants.

Market Segmentation

By Type          

• Wired Calibrators
• Wireless Calibrators

By Application

• Third-party Service Providers
• In-house Maintenance Teams
• Others

By Companies

• Additel Corporation
• Altek Industries Corp.
• Fluke Corporation
• General Electric Company
• Hotek Technologies Inc.
• Meriam Process Technologies
• OMEGA Engineering Inc.
• Practical Instrument ElectronicsInc. (PIE)
• WIKA Group