Oil and Gas Segment to Dominate APAC Instrument Calibrator Market during 2020–2028      

According to a new market research study on “APAC Instrument Calibrator Market to 2028 – COVID-19 Impact and Regional Analysis and Forecast by Product Type, modularity, and Industry Vertical” is expected to reach US$ 714.73 million by 2028 from 449.83 US$ million in 2021. The market is estimated to grow at a CAGR of 6.8% from 2021 to 2028. The report provides trends prevailing in the APAC instrument calibrator market along with the drivers and restraints pertaining to the market growth. Recommendable government regulations and technological improvement is the major factor driving the growth of the APAC instrument calibrator market. However, issues associated instrument calibrator market with red ocean strategy hinders the growth of APAC instrument calibrator market.  

 APAC instrument calibrator market is segmented into product type, modularity, industry vertical and country. Based on product type, the APAC instrument calibrator market is segmented into temperature calibrator, pressure calibrator, electrical calibrator, and multifunction process calibrator. Pressure calibrator segment held the largest market share in 2020. The modularity segment is classified into benchtop, and portable. Portable segment held the largest market share in 2020.Based on industry vertical, the APAC instrument calibrator market is categorized into automotive, aerospace and defense, electronics, food, and beverage, pharmaceutical, oil and gas, and others. Oil and gas segment held the largest market share in 2020. Based on country, the APAC instrument calibrator market is segmented into Australia, China, India, Japan, South Korea, and rest of APAC. China held the largest market share in 2020.

APAC constitutes the world’s two most populated countries—India and China—that are also manufacturing hubs. Amid the COVID-19 outbreak, China virtually imposed strict lockdown and social isolation, which almost halted the manufacturing and production for several weeks. Moreover, the country suspended the import and export of critical raw materials and components, which disrupted the global supply chains in early 2020. India also imposed a nationwide lockdown to keep a check on the growing COVID-19 cases across the country. As a result, lockdown, and disruption in industrial activities across China and India restricted the supply chain of various raw material and goods. However, these countries had to permit the manufacturing of a few essential goods. Disruptions in manufacturing units has limited the production of new instrument calibrators, thus negatively impacted the growth of the APAC instrument calibrator market. On the contrary, the governments are lifting lockdowns in all the countries, which is projected to positively impact the production and development of instrument calibrators across the region in the coming years.  

Additel; AMETEK Inc.; Baker Hughes Company; Beamex Oy Ab; Calmet; Fluke Corporation; Spectris; WIKA Alexander Wiegand SE & Co. KG; and Yokogawa Electric Corporation are among the leading companies in the APAC instrument calibrator market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, WIKA's CPH7000 portable process calibrator has received ATEX approval.     

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