Yahoo Finance Flow Calibration Equipment Market Estimated to Grow from US$ 3.9 Bn in 2022 to US$ 7.06 Bn by 2029, with Total Sales Zooming at 7.7% CAGR. Data by exactitude Consultancy
Flow Calibration Equipment Market by type (Calibration and recalibration), medium (Liquid and Gas), meter type (Volume flow and mass flow), Global trends and forecast from 2021 to 2029
Luton, Bedfordshire, United Kingdom, Dec. 06, 2022 (GLOBE NEWSWIRE) -- Exactitude Consultancy, the market research and consulting wing of Ameliorate Digital Consultancy Private Limited has completed and published the final copy of the detailed research report on the Flow Calibration Equipment Market.
Exactitude Consultancy explores the current market and new opportunities in the growing Flow Calibration Equipment market.
Flow Calibration Equipment Market Overview:
A vehicle's engine is made up of several parts that provide functions including power delivery and engine cooling. The engine belt, which distributes power between various engine components, assists in all of these duties. These components are propelled by the friction created between the pulley and the belt. Loose belts could affect how well the components perform since they can't supply the necessary power. In cars, hoses are used to transfer fluids, like coolants or lubricants, to particular parts or components. Hoses are made from a range of materials depending on where they will be utilized inside the car. Serpentine belts are now used to operate the cooling fan, air conditioning compressor, power steering pump, and air injector pump.
The Flow Calibration Equipment Market is estimated to grow at a CAGR of 7.7% in the forecasted period, from a market value of USD 3.9 billion in 2021 to USD 7.06 Billion in 2029.
Automotive belts are used to connect two parallel spinning shafts that have pulleys fastened to them and to convey power between them. Thus, through these belts, power is smoothly transferred from the driving shaft to the driven shaft by friction. Automotive belts can also be used as timing belts to synchronize an engine valve's operations through a camshaft.
They are typically made from rubber materials like ethylene propylene diene monomer, neoprene, and chloroprene. The vehicle belt's inner surface and cross-section change depending on the task it must perform. While the toothed belt frequently regulates camshaft valve timing, the V-belt runs the alternator and other automobile functions like air conditioning and power steering. The size, shape, and design of automobile belts are determined by the intended usage of the belt as well as the type of vehicle.
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Segmentation:
The Flow calibration procedure is done in two major mediums gas and liquid and is distinguished into two types; namely calibration and recalibration.
Types of Flow Calibration Equipment:
Coriolis Mass Flow Meters
A tube in a Coriolis flow meter is activated by a set vibration. The mass flow momentum of the fluid (gas or liquid) will change the tube's vibration, which will cause the tube to twist and induce a phase shift.
Electro Magnetic Flow Meters
Electromagnetic Flow Meters is a volumetric flow meter also referred to as Mag Flow Meters and is best suited for use in waste water applications and other situations requiring appropriate liquid conductivity and low-pressure drops. There are no moving parts in the device, and it is incompatible with distilled water and hydrocarbons. Mag flow meters require little upkeep as well.
Vortex Flow Meters
The vortex flow meter is an optimum flow measurement tool for situations where the addition of moving elements causes issues. They can be purchased in all-plastic, industrial grade, or brass construction. With no moving parts, they are less susceptible to changes in process conditions and have less wear than other forms of flow meters.
Ultrasonic Flow Meters.
An ultrasonic flow meter is a kind of flow meter that uses ultrasound to measure a fluid's velocity and calculate its volume flow.
Positive Displacement Flow Meters.
A positive displacement flow meter is the only flow measurement technique that directly measures the volume of fluid that goes through the flow meter. This is accomplished by enclosing pockets of fluid between spinning parts that are housed in a highly accurate chamber. This is comparable to filling a beaker with fluid and counting the number of times the beaker is full, then pouring the fluid downstream.
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Regional Analysis:
The European region accounted for the largest share with 35% among all the regions during the forecast period. The rising need to ensure quality standards and adhere and comply with standards and regulations, the rising focus on regular repair and maintenance of measuring instruments, and the increasing demand for technologically advanced calibration equipment are among some major factors driving market growth in this region. Rapid digitization across major industries in countries in the region is another factor propelling the growth of the Europe market.
The market in Asia Pacific registered the fastest revenue growth rate. Favorable government policies for foreign direct investment, mergers, and acquisitions by major companies in countries in the region are key factors driving the rapid market growth.
North America which comprises of United States, Canada, and Mexico captured the second-largest market. United States showed the fastest growth rate during the forecast period due to the revival in U.S. oil and gas production is driving increasing numbers of allocation and custody-transfer meter installations.
Country Analysis:
China:
A significant number of investments are being made in the development of flow calibration equipment in the dynamic industrial goods industry in China. This flow calibration equipment is equipped with advanced technology, which will minimize calibration errors. The China flow calibration equipment market is predicted to expand at a CAGR of 7.7% as a result of these factors. An increasing number of manufacturers are providing these platforms at less cost, which would aid market expansion.
USA:
The United States of America has caught the significant attention of market players because of large-scale industrialization and rising urbanization in the country. Many organizations have undertaken large expansion efforts in the country by opening new factories and launching new products.
Flow meter Calibration procedures:
There are three major types of flow meter calibration procedures
Master Meter Calibration
Master meter calibration changes a flow meter's calibration by comparing the data of the flow meter under test to those of a calibrated flow meter, often known as a "master" flow meter, running at the appropriate flow standard. Typically, the calibration of the master flow meter is set to a local, regional, or global standard.
Gravimetric Calibration
One of the most precise and economical methods for calibrating volumetric and mass flow meters is gravimetric calibration. The petrochemical, oil, and water purification sectors all benefit greatly from the gravimetric method for calibrating liquid flowmeters.
Piston Prover Calibration
The piston prover flow meter calibration technique involves forcing a known volume of fluid through the flow meter that is being tested. The cylindrical piston prover has an established internal diameter.
Drivers:
To effectively manage costs, there is an increasing focus on technology installation as well as digital enablement employing AI and machine learning.
Our daily lives require a lot of energy, from HVAC to gadgets and aircraft engines. The demand for flow calibration systems will undoubtedly increase as a result of next-generation technology built on IR4.0 and IR 5.0, with an energy-efficient standard that helps cut operational costs by including technologies like self-cleaning systems.
Many manufacturers have been incorporating new technologies in calibration, such as Sound Acoustic Wave, in response to the increased need for flow meter calibration equipment that may address numerous drawbacks (SAW).
Restraints:
Consumption of flow meter calibration devices may be constrained by factors such as high production costs, a lack of essential raw materials, and complicated pricing. This is due to the greater production costs and longer lifespan of the expensive materials used to make flow meter calibration equipment. The substance is also stronger and more resistant to environmental impacts. The market has a finite supply of materials including nickel carbide, ceramics, aluminum, brass, and PVDF. The expense of obtaining certifications from various nations might also contribute to the higher cost of flow calibration equipment.
Opportunities:
The flow meter needs to be recalibrated after serving for one to two years for accurate and exact results in operations. Although there are no set guidelines for how often they should be calibrated, they are always calibrated as part of yearly maintenance.
The turnaround time for the calibration of flow meters has decreased from two to three days to just 24 hours thanks to the incorporation of cutting-edge technologies in calibration services. This gives plenty of room for the demand for flow calibration equipment to increase over the projection period.
Key Competitors:
Some of the major players in this industry have taken a leadership position while trying to establish their market through innovative marketing strategies. These leading firms focus on expanding by developing new products or partnering with other companies for strategic initiatives that will help them conquer markets they occupied previously and make gains where it matters most- at home (geographic). There are a lot of local players in each of the regions who are trying to penetrate the market which again can be disruptive in low-income economies.
General Electric, Siemens AG, Ametek Inc., Endress+Hauser AG, ESSCO Calibration Laboratory, Fluke Corporation, ABB Ltd., Tektronix Inc., Micro Precision Calibration Inc., Optical Test and Calibration Limited, SIMCO Electronics, Rohde & Schwarz GmbH & Co. KG, Technical Maintenance Inc., Tradinco Instrumenten-Apparaten B.V., Trescal Inc., Transcat Inc., Martel Electronics, Omega SA, Bronkhorst High-Tech B.V., Mountz Incorporated, Chino Corporation, Gagemaker, Extech, ABB ltd, Emerson Electric Co, Intertek Group plc, Cross Co, Keysight Technologies Inc., Esso Calibration Lab.
Key Questions answered:
The research report has been written keeping in mind the following stakeholders: the current companies in the market, the new startups, the local players, Agriculture, Aerospace & Defense, HVAC, Power & Energy Water Management, Oil & Gas, and Petrochemicals, Industrial Manufacturing, Pharmaceuticals, Chemical Industry, Laboratories & Institutes, and research personnel.
The key questions answered in the report are:
What is the market size and forecast of the Flow Calibration Equipment?
What are the types of Flow Calibration Equipment?
What are the procedures for Flow Calibration Equipment?
Who are the key competitors/Players in this market?
What are the key segments of the Flow Calibration Equipment?
Which segment dominates the market?
What factors are driving the global market?
Which is the dominating region in this market?
What are the major applications for Flow Calibration Equipment?
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