Test and Measurement Equipment Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2025

Description

Persistence Market Research has recently released a comprehensive report on the global Test and Measurement Equipment Market, providing an in-depth analysis of key market dynamics, including driving forces, emerging trends, opportunities, and challenges. This report offers a detailed understanding of the market landscape, enabling stakeholders to make well-informed decisions.

Key Insights:

Test and Measurement Equipment Market Size (2025E): USD 40.5 Bn
Projected Market Value (2032F): USD 53.1 Bn
Global Market Growth Rate (CAGR 2025 to 2032): 4.1%

Test and Measurement Equipment Market - Report Scope:

The Test and Measurement Equipment Market encompasses devices and solutions used for testing, measuring, and monitoring applications across various industries. These tools play a critical role in ensuring the accuracy, reliability, and safety of products and systems. The market is driven by advancements in technology, increasing automation, and the growing demand for precision and efficiency in manufacturing and quality control. The expansion of key industries such as healthcare, electronics, and automotive further contributes to the growth of this market.

Market Growth Drivers:

The global Test and Measurement Equipment Market is witnessing significant growth due to the rising adoption of advanced technologies, such as IoT, AI, and 5G, which require precise testing and validation. The increasing need for quality assurance and regulatory compliance across industries, coupled with advancements in biomedical and semiconductor technologies, is driving demand. The growth of industries like renewable energy, electric vehicles, and aerospace is further fueling the need for specialized test equipment.

Market Restraints:

Despite the promising outlook, the Test and Measurement Equipment Market faces challenges such as high initial costs and maintenance expenses, which may deter small and medium-sized enterprises. The rapid pace of technological change necessitates continuous upgrades and investment in training, creating barriers for adoption. Additionally, supply chain disruptions and limited availability of skilled professionals may pose further challenges to market growth.

Market Opportunities:

The Test and Measurement Equipment Market presents significant growth opportunities, especially with the increasing adoption of automation and the expansion of emerging industries like electric vehicles and renewable energy. Innovations in wireless communication technologies and the integration of AI-driven analytics into test and measurement solutions open up new avenues for market expansion. Strategic partnerships and investments in R&D by key players can also drive innovation and market growth.

Key Questions Answered in the Report:

What are the primary factors driving the global growth of the Test and Measurement Equipment Market?
Which regions and industry segments are leading in the adoption of test and measurement equipment?
How are technological advancements shaping the competitive landscape of the market?
Who are the key players in the Test and Measurement Equipment Market, and what strategies are they employing to maintain their positions?
What are the emerging trends and future prospects in the global Test and Measurement Equipment Market?

Competitive Intelligence and Business Strategy:

Key players in the global Test and Measurement Equipment Market, such as Keysight, Fluke, and Yokogawa, are focusing on innovation, product diversification, and strategic collaborations to strengthen their market positions. Investments in cutting-edge technologies, such as AI-powered analytics and IoT-enabled devices, are driving product enhancements and expanding application areas. Partnerships with key industries, advancements in calibration technologies, and a focus on cost-effective solutions are central to their strategies for sustained growth and market leadership.

Key Companies Profiled:

Keysight
Fluke
Yokogawa
TDK-Lambda
Ametek
FLIR
Megger
Bender
Benning
Hioki
Netech
BC Group
Gossen Metrawatt

Test and Measurement Equipment Market Segmentation:

By Product Type:

Biomedical Test Equipment
Portable Appliance Tester (PATS)
Solar Test Equipment
Digital Multimeters
Multifunction Installation Test Equipment
High Voltage (Utility) Test Equipment
Battery Test Equipment
Production Electrical Safety Appliance Test Equipment
Power Supplies
Low Resistance Ohm Meters
Handheld Calibrators

By End User:

Healthcare
Industrial
Electronics and Semiconductor
Aerospace and Defense
Automotive
IT and Telecommunication
Utilities
Education
Food Industry
Others

By Region:

North America
Latin America
Europe
East Asia
South Asia and Oceania
Middle East and Africa

Product Code: PMRREP35023

1. Executive Summary

1.1. Global Test and Measurement Equipment Market Snapshot, 2025 - 2032
1.2. Market Opportunity Assessment, 2025 - 2032, US$ Bn
1.3. Key Market Trends
1.4. Future Market Projections
1.5. Premium Market Insights
1.6. Key Developments and Key Market Events
1.7. PMR Analysis and Recommendations

2. Market Overview

2.1. Market Scope and Definition
2.2. Market Dynamics
- 2.2.1. Drivers
- 2.2.2. Restraints
- 2.2.3. Opportunity
- 2.2.4. Challenges
- 2.2.5. Key Trends
2.3. Macro-Economic Factors
- 2.3.1. Global GDP Growth Outlook
- 2.3.2. Worldwide IT Spending Forecast
- 2.3.3. Global Health Spending
2.4. COVID-19 Impact Analysis
2.5. Forecast Factors - Relevance and Impact

3. Value Added Insights

3.1. Regulatory Landscape
3.2. Value Chain Analysis
3.3. PESTLE Analysis
3.4. Porter's Five Force Analysis

4. Price Trend Analysis

4.1. Key Highlights
4.2. Key Factors Impacting Test and Measurement Equipment Prices
4.3. Pricing Analysis
- 4.3.1. Pricing Analysis by Product Type

5. Global Test and Measurement Equipment Market Outlook: Historical (2019 - 2023) and Forecast (2025 - 2032)

5.1. Global Test and Measurement Equipment Market Outlook: Product Type
- 5.1.1. Introduction / Key Findings
- 5.1.2. Historical Market Size (US$ Bn) and Analysis, By Product Type, 2019 - 2023
- 5.1.3. Current Market Size (US$ Bn) and Analysis and Forecast, By Product Type, 2025 - 2032
  - 5.1.3.1. Biomedical Test Equipment
  - 5.1.3.2. Portable Appliance Tester (PATS)
  - 5.1.3.3. Solar Test Equipment
  - 5.1.3.4. Digital Multimeters
  - 5.1.3.5. Multifunction Installation Test Equipment
  - 5.1.3.6. High Voltage (Utility) Test Equipment
  - 5.1.3.7. Battery Test Equipment
  - 5.1.3.8. Production Electrical Safety Appliance Test Equipment
  - 5.1.3.9. Power Supplies
  - 5.1.3.10. Low Resistance Ohm Meters
  - 5.1.3.11. Handheld Calibrators
5.2. Market Attractiveness Analysis: Product Type
5.3. Global Test and Measurement Equipment Market Outlook: End User
- 5.3.1. Introduction / Key Findings
- 5.3.2. Historical Market Size (US$ Bn) Analysis, By End User, 2019 - 2023
- 5.3.3. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025 - 2032
  - 5.3.3.1. Healthcare
  - 5.3.3.2. Industrial
  - 5.3.3.3. Electronics & Semiconductor
  - 5.3.3.4. Aerospace and Defense
  - 5.3.3.5. Automotive
  - 5.3.3.6. IT & Telecommunication
  - 5.3.3.7. Utilities
  - 5.3.3.8. Education
  - 5.3.3.9. Food Industry
  - 5.3.3.10. Others
5.4. Market Attractiveness Analysis: End User

6. Global Test and Measurement Equipment Market Outlook: Region

6.1. Key Highlights
6.2. Historical Market Size (US$ Bn) and Analysis, By Region, 2019 - 2023
6.3. Current Market Size (US$ Bn) Analysis and Forecast, By Region, 2025 - 2032
- 6.3.1. North America
- 6.3.2. Europe
- 6.3.3. East Asia
- 6.3.4. South Asia and Oceania
- 6.3.5. Latin America
- 6.3.6. Middle East & Africa
6.4. Market Attractiveness Analysis: Region

7. North America Test and Measurement Equipment Market Outlook: Historical (2019 - 2023) and Forecast (2025 - 2032)

7.1. Key Highlights
7.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 7.2.1. By Country
- 7.2.2. By Product Type
- 7.2.3. By End User
7.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 7.3.1. U.S.
- 7.3.2. Canada
7.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 7.4.1. Biomedical Test Equipment
- 7.4.2. Portable Appliance Tester (PATS)
- 7.4.3. Solar Test Equipment
- 7.4.4. Digital Multimeters
- 7.4.5. Multifunction Installation Test Equipment
- 7.4.6. High Voltage (Utility) Test Equipment
- 7.4.7. Battery Test Equipment
- 7.4.8. Production Electrical Safety Appliance Test Equipment
- 7.4.9. Power Supplies
- 7.4.10. Low Resistance Ohm Meters
- 7.4.11. Handheld Calibrators
7.5. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025 - 2032
- 7.5.1. Healthcare
- 7.5.2. Industrial
- 7.5.3. Electronics & Semiconductor
- 7.5.4. Aerospace and Defense
- 7.5.5. Automotive
- 7.5.6. IT & Telecommunication
- 7.5.7. Utilities
- 7.5.8. Education
- 7.5.9. Food Industry
- 7.5.10. Others
7.6. Market Attractiveness Analysis

8. Europe Test and Measurement Equipment Market Outlook: Historical (2019 - 2023) and Forecast (2025 - 2032)

8.1. Key Highlights
8.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 8.2.1. By Country
- 8.2.2. By Product Type
- 8.2.3. By End User
8.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 8.3.1. Germany
- 8.3.2. France
- 8.3.3. U.K.
- 8.3.4. Italy
- 8.3.5. Spain
- 8.3.6. Russia
- 8.3.7. Rest of Europe
8.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 8.4.1. Biomedical Test Equipment
- 8.4.2. Portable Appliance Tester (PATS)
- 8.4.3. Solar Test Equipment
- 8.4.4. Digital Multimeters
- 8.4.5. Multifunction Installation Test Equipment
- 8.4.6. High Voltage (Utility) Test Equipment
- 8.4.7. Battery Test Equipment
- 8.4.8. Production Electrical Safety Appliance Test Equipment
- 8.4.9. Power Supplies
- 8.4.10. Low Resistance Ohm Meters
- 8.4.11. Handheld Calibrators
8.5. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025 - 2032
- 8.5.1. Healthcare
- 8.5.2. Industrial
- 8.5.3. Electronics & Semiconductor
- 8.5.4. Aerospace and Defense
- 8.5.5. Automotive
- 8.5.6. IT & Telecommunication
- 8.5.7. Utilities
- 8.5.8. Education
- 8.5.9. Food Industry
- 8.5.10. Others
8.6. Market Attractiveness Analysis

9. East Asia Test and Measurement Equipment Market Outlook: Historical (2019 - 2023) and Forecast (2025 - 2032)

9.1. Key Highlights
9.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 9.2.1. By Country
- 9.2.2. By Product Type
- 9.2.3. By End User
9.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 9.3.1. China
- 9.3.2. Japan
- 9.3.3. South Korea
9.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 9.4.1. Biomedical Test Equipment
- 9.4.2. Portable Appliance Tester (PATS)
- 9.4.3. Solar Test Equipment
- 9.4.4. Digital Multimeters
- 9.4.5. Multifunction Installation Test Equipment
- 9.4.6. High Voltage (Utility) Test Equipment
- 9.4.7. Battery Test Equipment
- 9.4.8. Production Electrical Safety Appliance Test Equipment
- 9.4.9. Power Supplies
- 9.4.10. Low Resistance Ohm Meters
- 9.4.11. Handheld Calibrators
9.5. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025 - 2032
- 9.5.1. Healthcare
- 9.5.2. Industrial
- 9.5.3. Electronics & Semiconductor
- 9.5.4. Aerospace and Defense
- 9.5.5. Automotive
- 9.5.6. IT & Telecommunication
- 9.5.7. Utilities
- 9.5.8. Education
- 9.5.9. Food Industry
- 9.5.10. Others
9.6. Market Attractiveness Analysis

10. South Asia & Oceania Test and Measurement Equipment Market Outlook: Historical (2019 - 2023) and Forecast (2025 - 2032)

10.1. Key Highlights
10.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 10.2.1. By Country
- 10.2.2. By Product Type
- 10.2.3. By End User
10.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 10.3.1. India
- 10.3.2. Southeast Asia
- 10.3.3. ANZ
- 10.3.4. Rest of South Asia & Oceania
10.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 10.4.1. Biomedical Test Equipment
- 10.4.2. Portable Appliance Tester (PATS)
- 10.4.3. Solar Test Equipment
- 10.4.4. Digital Multimeters
- 10.4.5. Multifunction Installation Test Equipment
- 10.4.6. High Voltage (Utility) Test Equipment
- 10.4.7. Battery Test Equipment
- 10.4.8. Production Electrical Safety Appliance Test Equipment
- 10.4.9. Power Supplies
- 10.4.10. Low Resistance Ohm Meters
- 10.4.11. Handheld Calibrators
10.5. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025 - 2032
- 10.5.1. Healthcare
- 10.5.2. Industrial
- 10.5.3. Electronics & Semiconductor
- 10.5.4. Aerospace and Defense
- 10.5.5. Automotive
- 10.5.6. IT & Telecommunication
- 10.5.7. Utilities
- 10.5.8. Education
- 10.5.9. Food Industry
- 10.5.10. Others
10.6. Market Attractiveness Analysis

11. Latin America Test and Measurement Equipment Market Outlook: Historical (2019 - 2023) and Forecast (2025 - 2032)

11.1. Key Highlights
11.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 11.2.1. By Country
- 11.2.2. By Product Type
- 11.2.3. By End User
11.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 11.3.1. Brazil
- 11.3.2. Mexico
- 11.3.3. Rest of Latin America
11.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 11.4.1. Biomedical Test Equipment
- 11.4.2. Portable Appliance Tester (PATS)
- 11.4.3. Solar Test Equipment
- 11.4.4. Digital Multimeters
- 11.4.5. Multifunction Installation Test Equipment
- 11.4.6. High Voltage (Utility) Test Equipment
- 11.4.7. Battery Test Equipment
- 11.4.8. Production Electrical Safety Appliance Test Equipment
- 11.4.9. Power Supplies
- 11.4.10. Low Resistance Ohm Meters
- 11.4.11. Handheld Calibrators
11.5. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025 - 2032
- 11.5.1. Healthcare
- 11.5.2. Industrial
- 11.5.3. Electronics & Semiconductor
- 11.5.4. Aerospace and Defense
- 11.5.5. Automotive
- 11.5.6. IT & Telecommunication
- 11.5.7. Utilities
- 11.5.8. Education
- 11.5.9. Food Industry
- 11.5.10. Others
11.6. Market Attractiveness Analysis

12. Middle East & Africa Test and Measurement Equipment Market Outlook: Historical (2019 - 2023) and Forecast (2025 - 2032)

12.1. Key Highlights
12.2. Historical Market Size (US$ Bn) Analysis, By Market, 2019 - 2023
- 12.2.1. By Country
- 12.2.2. By Product Type
- 12.2.3. By End User
12.3. Current Market Size (US$ Bn) Analysis and Forecast, By Country, 2025 - 2032
- 12.3.1. GCC Countries
- 12.3.2. South Africa
- 12.3.3. Northern Africa
- 12.3.4. Rest of Middle East & Africa
12.4. Current Market Size (US$ Bn) Analysis and Forecast, By Product Type, 2025 - 2032
- 12.4.1. Biomedical Test Equipment
- 12.4.2. Portable Appliance Tester (PATS)
- 12.4.3. Solar Test Equipment
- 12.4.4. Digital Multimeters
- 12.4.5. Multifunction Installation Test Equipment
- 12.4.6. High Voltage (Utility) Test Equipment
- 12.4.7. Battery Test Equipment
- 12.4.8. Production Electrical Safety Appliance Test Equipment
- 12.4.9. Power Supplies
- 12.4.10. Low Resistance Ohm Meters
- 12.4.11. Handheld Calibrators
12.5. Current Market Size (US$ Bn) Analysis and Forecast, By End User, 2025 - 2032
- 12.5.1. Healthcare
- 12.5.2. Industrial
- 12.5.3. Electronics & Semiconductor
- 12.5.4. Aerospace and Defense
- 12.5.5. Automotive
- 12.5.6. IT & Telecommunication
- 12.5.7. Utilities
- 12.5.8. Education
- 12.5.9. Food Industry
- 12.5.10. Others
12.6. Market Attractiveness Analysis

13. Competition Landscape

13.1. Market Share Analysis, 2023
13.2. Market Structure
- 13.2.1. Competition Intensity Mapping
- 13.2.2. Competition Dashboard
13.3. Company Profiles (Details - Overview, Financials, Strategy, Recent Developments)
- 13.3.1. Keysight
  - 13.3.1.1. Overview
  - 13.3.1.2. Product Portfolio
  - 13.3.1.3. Key Financials
  - 13.3.1.4. Market Developments
  - 13.3.1.5. Market Strategy
- 13.3.2. Fluke
- 13.3.3. Yokogawa
- 13.3.4. TDK-Lambda
- 13.3.5. Ametek
- 13.3.6. FLIR
- 13.3.7. Megger
- 13.3.8. Bender
- 13.3.9. Benning
- 13.3.10. Hioki
- 13.3.11. Netech
- 13.3.12. BC Group
- 13.3.13. Gossen Metrawatt

14. Appendix

14.1. Research Methodology
14.2. Research Assumptions
14.3. Acronyms and Abbreviations

Test and Measurement Equipment Market: Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2025 - 2032