PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279640
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1279640
Global Electrical and Electronic Test Equipment Market is valued at approximately USD XX billion in 2021 and is anticipated to grow with a healthy growth rate of more than XX% over the forecast period 2022-2029. Electrical and electronic test equipment is generally used to form signals and capture responses from electronic devices under test (DUTs). For the study, maintenance, and services, network deployment, and testing and measuring equipment used in the development and manufacturing of electronic/electrical devices were evaluated. Circuits in electrical and electronic equipment are regularly checked for defects or unusual behavior. The rising shift towards renewable energy, growing demand for communication-based wireless technology, and emergence of Industry 4.0 in the manufacturing sector are the prominent factors that are propelling the market demand across the globe.
In addition, the surge in demand for electric and hybrid vehicles is playing a vital role in market growth across the globe. Electrical test equipment, including ground resistance testers, hipot testers, Micro ohm meters, multimeters, voltmeters, and others, are commonly used in the manufacture and maintenance of electric vehicles to test a variety of components and systems, including motors, power systems, batteries, charging systems, wiring, connectors, and many others. Accordingly, the market for electrical test equipment, therefore, is expanding at a high rate owing to growing investments in these sectors. For instance, numerous regional governments are making significant investments in R&D initiatives. The German government intends to invest more than USD 3 billion in the region's electric vehicle sector in 2019. By 2025, major producers including General Motors, Toyota, and BMW expect to deliver 400 models, with 25 million units sold worldwide. Furthermore, the growing R&D in autonomous vehicles, as well as the rising technological advancements leading to the need for test and measurement equipment are presenting various lucrative opportunities over the forecasting years. However, the price sensitivity and increasing preference for rental services are challenging the market growth throughout the forecast period of 2022-2029.
The key regions considered for the Global Electrical and Electronic Test Equipment Market study include Asia Pacific, North America, Europe, Latin America, and the Rest of the World. North America dominated the market in terms of revenue, owing to the increasing focus on expanding the 5G network coverage, along with the growing emphasis on product innovation, providing solutions for various industry applications. Whereas, the Asia Pacific is expected to grow with the highest CAGR during the forecast period, owing to factors such as the surge in the number of testing and inspection activities, along with the flourishing development of the emerging countries in the market space.
The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.
The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below.
List of tables and figures and dummy in nature, final lists may vary in the final deliverable
List of figures
List of tables and figures and dummy in nature, final lists may vary in the final deliverable