Press release
Growing penetration of Instrumentation Services Market is expected to grow at a CAGR of 7.99% during the forecast period (2020-2027), to account to USD 10,016.4 million by 2027
Instrumentation Services Market
Instrumentation services are the services required to indicate, measure, and record physical quantities in primary processes, including the calibration, maintenance, and repair of measuring instruments as well as the testing and commissioning of instrumentation required in processes. Other services include consultancy for resolving complex problems regarding process automation and training and maintenance, both online and on-site.
From a regional perspective, Asia-Pacific is pegged to be the most significant growth contributor, where the instrumentation services market is expected to grow at a CAGR of 9.51% during the forecast period. In terms of value share, North America accounts for the largest share of the pie, closely followed by Europe.
Gas analytics equipment and pressure instruments are a few of the key instruments used in the sector for different processes, wherein process instrumentations play an important role in the efficient functioning and safety of plants. Therefore, the demand for instrumentation services, such as calibrations, testing, maintenance, and maintenance, is on the rise.
The food and beverage segment was valued at USD 947.8 in 2019 and is expected to reach a value of USD 1,633.9 by 2027. The industry must comply with stringent government regulations regarding food safety and standards, and players engaged in the industry have to address several technical and process aspects while handling any instrument because an issue or failure during work can impact the entire process, increasing downtime and compromising food quality.
Calibration services detect and correct incorrectness in measuring instruments, such as deviations or inaccuracies in the dimensional standards. These services are crucial wherever an instrument deals with measurements as it ensures the findings or readings are correct.
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The Major Players Covered in this Report: Agilent Technologies, Charnwood Instrumentation Services Ltd, TRESCAL, ABB Group, KROHNE, Utilities Instrumentation Service, Inc., Schneider Electric, Siemens AG, Honeywell International Inc, Miraj Instrumentation Services (I) PvtLtd, Endress+Hauser Group Services AG, Emerson Electric Co, Rockwell Automation, Inc and Rockwell Automation, Inc, among others., & More...
By Type, Calibration Services, Maintenance and Repair Services, Testing and Commissioning Services, Training Services, Consultancy Services, Technical Support,
By End-User, Food and Beverage, Life Science, Chemical, Oil & Gas, Water & Wastewater, Power & Energy, Primaries & Metal, Others
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Growing Domestic Demand and Expanding Pharmaceutical Sector to Drive the Demand for Instrumentation Services in the APAC Region
Asia-Pacific region is anticipated to hold the largest market share in the global Instrumentation Services market during the forecast period 2020-2027. The growth in this region can be attributed to the presence of emerging economies like India, China, Japan, Vietnam, and Indonesia, which account for the largest share in this region. India is one of the largest producers of Instrumentation Services and a major exporter of the product to various countries across the globe. India accounts for around 80% of the world’s exports of Instrumentation Services. The favorable climatic conditions and growth of agricultural inputs and allied services like cold storage and warehousing in India are prompting higher production.
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The report covers exhaustive analysis on:
Overview of the parent market
Global Instrumentation Services Market Segments, Dynamics, Market Size, Share, Price, Volume, and Cost
Historical, current and projected market size in terms of volume and value
Global Instrumentation Services Market Forecast 2021 to 2029
Supply & Demand Value Chain
Global Instrumentation Services Market dynamics, including the current trends/drivers/threats/restraints/challenges
Potential and niche segments/regions exhibiting promising growth
Market landscape, competition, and leading companies involved
Strategies of leading companies and product offerings
Technological advancements
Key questions answered in this report:
What will be the market size by the end of the forecast period?
What are the factors driving the growth of the market?
What are the trends and developments that are likely to drive the growth of the market?
Who are the key players operating in the market?
What are the challenges, threats, and opportunities faced by the leading players?
What are the strengths and weaknesses of the key players of the market?
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