The sudden challenges created by the ongoing COVID-19 are captured effectively to exhibit the long term growth projections in the MRFR report on Voltage Calibrator Market Report. The growth sectors of the Voltage Calibrator Market Report are identified with precision for a better growth perspective.
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.
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.
In March 2018, GAOTek introduced a new process calibrator for on-site testing and calibration.
The global voltage calibrator market is segmented on the basis of type, component, end user, vertical, and region.
By type, the global voltage calibrator market is segmented into handheld and bench type. Bench type voltage calibrators are likely to be the dominant segment in the global voltage calibrators market over the forecast period due to the growing demand for precise measurement and calibration in the electronics manufacturing sector. While handheld voltage calibrators offer greater portability, bench type voltage calibrators are likely to dominate the global voltage calibrators market over the forecast period due to their growing demand in the consumer electronics market.
By component, the global voltage calibrator market is segmented into product and services. The product segment dominates the global voltage calibrator market; however, the services segment is expected to exhibit a higher CAGR over the forecast period as the demand for aftersales and maintenance services grows over time.
By end user, the global voltage calibrator market is segmented into research and field.
By vertical, the global voltage calibrator market is segmented into telecommunication and IT, semiconductor, healthcare and pharmaceutical, aerospace and defense, utilities, and others. The utilities segment is expected to be the major cash cow for the global voltage calibrator market over the forecast period due to the growing demand for voltage calibrators in grid refurbishment projects.
Voltage calibrator Market is expected to grow at a CAGR of 6.49% during the forecast period, Global …
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