Report : Europe Instrument Calibrator Market Forecast to 2028 - COVID-19 Impact and Regional Analysis By Product Type (Temperature Calibrator, Pressure Calibrator, Electrical Calibrator, and Multifunction Process Calibrator), Modularity (Benchtop and Portable), and Industry Vertical (Automotive, Aerospace & Defense, Electronics, Food & Beverage, Pharmaceutical, Oil & Gas, and Other Industries)
Portable Segment to Dominate Europe Instrument Calibrator Market during 2020–2028
According to a new market research study on “Europe 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$ 456.65 million by 2028 from 335.87 US$ million in 2021. The market is estimated to grow at a CAGR of 4.5% from 2021 to 2028. The report provides trends prevailing in the Europe instrument calibrator market along with the drivers and restraints pertaining to the market growth. High usage in aerospace & defense industry is the major factor driving the growth of the Europe instrument calibrator market. However, issues associated with market players adopting red ocean strategy for instrument calibrator market hinders the growth of Europe instrument calibrator market.
Europe instrument calibrator market is segmented into product type, modularity, industry vertical and country. Based on product type, the Europe 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 Europe 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 Europe instrument calibrator market is segmented into Belgium, France, Germany, Italy, Netherlands, Russia, UK, and rest of Europe. Germany held the largest market share in 2020.
Europe witnessed a varying impact of the COVID-19 pandemic across its economically diverse countries. Countries such as Germany, the UK, the Netherlands, and France imposed stringent government restrictions and closed their borders to curb the virus spread. Additionally, Italy, Russia, and Spain witnessed a significant surge in COVID-19 confirmed cases, which led them to shutdown businesses and manufacturing operations for a few months. However, numerous European countries witnessed swift recover from quarter 4 of 2020. Irrespective of the surge in the number of cases and shutting down of business operations for months, manufacturers had to continue the production of essential products, resume it earlier than other businesses. Further, since manufacturing facilities in the region were completely shut down for months, the manufacturers of instrument calibrators faced several challenges related to procuring raw material and keeping up with the overall stock. However, since the beginning of 2021, governments of various countries in Europe have expedited the vaccination process, and currently the number of COVID-19 cases in the region is reducing. Seeing this, the government authority has now opened up the economy, and various industries are now functional with more stringent sanitation guidelines. This scenario is propelling the demand for advanced instrument calibrators across Europe.
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 Europe 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, AMETEK STC is pleased to launch JOFRA CTC-652 temperature calibrator. The CTC-652 is the tallest of JOFRA’s CTC Series calibrators and is the only industrial-grade temperature calibrator with a 200 mm insert.
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