Global Torque Calibration Services Market 2018-2022
About Torque Calibration Services
Torque calibration is a service provided to configure the torque using machines and instruments in accordance with pre-defined standards. In the process of correcting torque-measuring devices and is carried out on newly manufactured as well as pre-owned machines.
Technavio’s analysts forecast the Global Torque Calibration Services Market to grow at a CAGR of 3.48% during the period 2018-2022.
Covered in this report
The report covers the present scenario and the growth prospects of the global torque calibration services market. To calculate the market size, the report considers the revenue generated from the adoption of calibration services in both discrete and process industries.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Torque Calibration Services Market 2018-2022
Technavio recognizes the following companies as the key players in the global torque calibration services market: Endress+Hauser, Exova, Fortive, General Electric, and Siemens.
Commenting on the report, an analyst from Technavio’s team said: “One trend affecting this market is the availability of one-stop window for services.” One-stop window for all solutions or a common platform for all solution aids in dealing with all torque calibration-related issues.
According to the report, one driver influencing this market is the increasing demand for specialized technical services. This is to enhance the quality of measurements obtained by torque measuring instruments.
Further, the report states that one challenge affecting this market is the high competition and low product differentiation. Torque calibration service providers are facing a major challenge in terms differentiating their service offerings against the other market participants, leading to intense competition.