Press release
High Demand From The Chemical Industries For Pressure Calibration Equipment Market Is To Drive The Growth In Next Couple Of Years
Title: Global Pressure Calibration Equipment Industry Current and Future OutlookThe global COVID-19 pandemic has turned several industries upside down by causing disruptions in their daily operations and limiting the supply of raw materials, hampering production and growth.
However, with the relaxations in the government regulations and an expedited vaccination drive in countries like China, the U.S., the UK, and India, the Pressure Calibration Equipment industry is slowly picking up its pace. The manufacturers are preparing to reopen their production sites, abiding by the government regulations.
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Energy Consumption in the US is Leading to High Adoption of Pressure Calibration Equipment Systems
The US accounts for the largest share in the construction industry. The pandemic has halted many construction-related activities, which in turn has impacted the growth of the Pressure Calibration Equipment industry negatively.
However, the development in the Pressure Calibration Equipment industry is rising at a steady pace with the resumption of the construction industry. The ever-growing energy consumption in the country is also generating demand for more energy-efficient Pressure Calibration Equipment systems in the region.
Prominent players in the Pressure Calibration Equipment industry such as Honeywell Int., and new entrants such as Apple and Google NEST are also focusing on residential construction projects to bring more innovation and comfort to the residents. Such new strategies are helping the Pressure Calibration Equipment industry gradually recover from the blow of the pandemic.
Key Segments
By Pressure Measurement Range
1000 Psi
By Operation
Automatic
Manual
Others
By Application
Turbines
Wind Power
Maintenance
Compressor unit
Industrial Safety
Others
By End Use Industries
Chemical Industry
Pharmaceutical Industry
Automotive Industry
Aviation Industry
Scientific Laboratories
Oil & Gas Industry
Others
By Distribution Channel
Offline
Specialty Stores
Multi-brand Stores
Retail Sales
Distributor Sales
Online
E-commerce Websites
Company-owned Websites
By Region
North America
US & Canada
Latin America
Brazil, Mexico, Argentina & Rest of Latin America
Europe
Germany, France, Italy, Spain, U.K., Benelux, Russia, and Rest of Europe
East Asia
China, Japan, South Korea
South Asia
India, Thailand, Malaysia, Indonesia and Rest of South Asia
Oceania
Australia and New Zealand
Middle East and Africa
GCC Countries, Turkey, South Africa, and Rest of Middle East & Africa
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Prominent Players in Europe are Focusing on Innovative Solutions
The Pressure Calibration Equipment industry in Europe suffered a tremendous fall during the pandemic, with a lack of resources and manpower required for production. Several manufacturing units were shut to contain the virus.
The prevalence of some of the global leaders in the region such as Johnson Controls and ABB Group has provided a noteworthy boost to the market growth in this region.
The high presence of service providers, government regulations to curb electricity consumption and awareness regarding the installation of building automation systems has laid out lucrative opportunities for market growth.
Technological Advancements are Leading Innovations in the Industry Automation Market in China
China is gradually recovering from the adverse effect of the pandemic due to its successful efforts in curbing the spread of the virus within the region. With almost negligible restrictions, the construction, heavy machinery, and automotive industry have started resuming operations.
Rising expenditure in technology and increasing emphasis on environmental safety are propelling the demand in the Pressure Calibration Equipment industry in China. The growing interest in billboard automation and industrial displays in allowing manufacturers to gradually attain their pre-pandemic status.
Who are the Key Manufacturers and Suppliers of Pressure Calibration Equipment?
Some of the leading manufacturers and suppliers of Pressure Calibration Equipment include
Additel
Ametek
Ashcroft
Condec
Crystal Engineering
DH-Budenberg
Druck
Dwyer Instruments
Fluke Calibration
IKM Instrutek
Keller
Martel Electronics
Mensor
PIE Practical Instrument Electronics
Setra
Transmille
WIKA
Yokogawa
India is Experiencing High Adoption of Pressure Calibration Equipment Systems
The Indian Pressure Calibration Equipment industry witnessed a downfall due to the pandemic. In order to follow the safety guideline, many construction sites and manufacturing units were shut until further notice.
With the relaxation of these restrictions, the manufactures operating in the automation, engineering, and construction (AEC) industry managed to gather pace in recovery. However, the second wave of the pandemic hit the Pressure Calibration Equipment industry negatively, affecting the overall growth of the industry.
Being a fast-growing economy, global leaders are finding lucrative opportunities in the country, both in commercial and residential spaces, as the demand for multi-modal building automation is surging.
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Key Long-Term Trends
The global Pressure Calibration Equipment industry is showing notable recovery in 2021 and will continue to offer opportunities for expansion to the players operating in the market. With the penetration of building automation in residential areas, the Pressure Calibration Equipment industry will show an upward trend. Some new trends that are boosting the growth in the market are:
Internet of Things (IoT)
The Internet of Things (IoT) and the Industrial Internet of Things (IIoT) are experiencing broader acceptance in the Pressure Calibration Equipment industry. The innovative technology which makes everything 'inter-connected is gaining immense popularity in both residential and commercial projects, making them technologically advanced and effective in risk management.
Edge Computing
As the number of residents increases, the data also becomes vaster. Hence, edge computing will act as a key technology in the Pressure Calibration Equipment industry. Edge computing enables data security, easy accessibility, and enhanced automation in commercial and residential buildings.
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