LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global flowmeter calibration market to grow at a CAGR of over 6% during the period 2018-2022, according to their latest report.
This market research report segments the global flowmeter calibration market into the following end-users (oil and gas industry, water and wastewater industry, mining and minerals industry, chemical industry, and others (power, food and beverage, pharmaceutical, and paper and pulp industries)) and key regions (the Americas, APAC, and EMEA).
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In this report, Technavio analysts highlight the elimination of uncertainties of flowmeters by calibration as a key factor contributing majorly to the growth of the market:
Calibration eliminates the uncertainty of flowmeters
Flowmeters cannot afford any uncertainty in the process of measuring the flow of the mediums. Uncertainty can be defined in several ways as applicable to each measurement during the calibration process. The parameters are based on instrument calibration data, manufacturers data, and laboratory experience. In case of volumetric flow measurement, the uncertainty of the calibration process may directly affect the primary parameters used in the process and the instruments used. All the functions of the flowmeters must be traceable to a recognized standard with an associated uncertainty allowance.
According to a senior analyst at Technavio for automation, “The end-users need to evaluate the uncertainty of the meter that points out the difference in the piping between the calibrated piping, the installed piping, and the ancillary instrumentation. Ancillary instrumentation also carries a different uncertainty value when compared with the instrument that is used in the laboratory. Therefore, when good flow calibration protocol is required, the end-users cannot afford uncertainties. They must consider the accuracy requirements of the device, which will be calibrated and keep the historical calibration records for future references to avoid downtime and associated costs.”
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Global flowmeter calibration market segmentation
The end-users of the global flowmeter calibration market are highly focused on scaling up their production with complete accuracy. The end-users are completely bounded by the stringent regulations implemented by the regulatory bodies to achieve this. Therefore, they opt for the proper maintenance of the flowmeters as it highly impacts accuracy.
EMEA was the leading region for the global flowmeter calibration market in 2017, accounting for a market share of approximately 40%. EMEA holds the top position because of the motive to attain the target of meeting the increasing demand of power mainly in the Middle Eastern region. The market in focus will experience growth during the forecast period to meet the regulations of the regulatory bodies implemented in different regions.
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