PUBLISHER: The Business Research Company | PRODUCT CODE: 1686148
PUBLISHER: The Business Research Company | PRODUCT CODE: 1686148
Electrical test equipment encompasses a range of devices and instruments utilized in electrical engineering and electronics for measuring, testing, diagnosing, and troubleshooting various electrical parameters and systems. These tools play a crucial role in ensuring the functionality, safety, and performance of electrical circuits, equipment, and installations.
The primary categories of electrical test equipment include stationary and portable devices. Stationary equipment refers to fixed machinery and assets that remain in a fixed location, such as industrial processing units or manufacturing machinery. It is utilized across various applications such as voltage testing, functionality testing, and others, serving diverse verticals including automotive and transportation, aerospace and defense, information technology (IT) and telecommunications, education and government, semiconductors and electronics, industrial, healthcare, energy and power, among others.
The electrical test equipment market research report is one of a series of new reports from The Business Research Company that provides electrical test equipment market statistics, including electrical test equipment industry global market size, regional shares, competitors with a electrical test equipment market share, detailed electrical test equipment market segments, market trends and opportunities, and any further data you may need to thrive in the electrical test equipment industry. This electrical test equipment market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.
The electrical test equipment market size has grown strongly in recent years. It will grow from $6.63 billion in 2024 to $7.11 billion in 2025 at a compound annual growth rate (CAGR) of 7.2%. The growth in the historic period can be attributed to growing power sector, increasing demand for electronics, stringent regulatory standards, rising awareness of energy efficiency, maintenance and calibration needs.
The electrical test equipment market size is expected to see strong growth in the next few years. It will grow to $8.95 billion in 2029 at a compound annual growth rate (CAGR) of 5.9%. The growth in the forecast period can be attributed to increasing demand for electronics and electrical devices, rising adoption of renewable energy, industry 4.0 and smart manufacturing, global expansion of 5G networks. Major trends in the forecast period include technological advancements, product innovations, partnerships.
The increasing frequency of electricity-related accidents is projected to drive the growth of the electric test equipment market in the future. Electricity-related accidents refer to incidents that occur due to unintended and harmful interactions with electrical energy, which can lead to injuries, damages, or fatalities. These incidents often result from inadequate safety measures, a lack of awareness, poor maintenance of electrical infrastructure, and insufficient training on electrical safety practices. Electric test equipment serves as a crucial tool in preventing electrical accidents by identifying potential hazards, assessing the condition of electrical systems, and ensuring compliance with safety standards. For example, a report from Onedesk Inc., a Canada-based helpdesk and project management software company, estimates that there are between 500 to 1,000 fatalities resulting from electrical injuries annually in the U.S., alongside approximately 30,000 reported cases of nonfatal electrical injuries each year. Thus, the rising incidence of electricity-related accidents is a key factor driving the growth of the electric test equipment market.
In response to the growing need for safety measures, major companies in the electrical test equipment market are focusing on innovative product development. One such advancement is exemplified by Fluke Corporation's Fluke 377 FC and 378 clamp meters, which offer non-contact voltage measurement capabilities. Utilizing FieldSense technology, these meters enable safer and more efficient testing by allowing voltage measurement without direct electrical contact. Released in March 2022, these clamp meters enhance the safety of electrical measurements for maintenance technicians, ensuring rapid tests without exposure to live parts. With features such as Fluke Connect software and a power quality indicator, these meters further improve safety, efficiency, and accuracy in electrical testing.
In October 2023, Emerson Electric Co., a technology company based in the U.S., completed the acquisition of National Instruments for $8.2 billion. This acquisition is intended to enhance Emerson Electric's portfolio by integrating National Instruments' expertise in the manufacture of electrical test equipment. National Instruments Inc. is recognized for its production of a range of electrical test equipment.
Major companies operating in the electrical test equipment market are Tektronix Inc., Keysight Technologies Inc., Haefely Hipotronics Inc., Yokogawa Electric Corporation, Rohde & Schwarz GmbH & Co KG, Flir Systems Inc., National Instruments Corporation, Testo SE & Co. KGaA, Chroma ATE Inc., Anritsu Corporation, Megger Group Limited, Hioki Corporation, Transcat Inc., TDK-Lambda Corporation, OMICRON electronics GmbH, GW Instek Inc., Kikusui Electronics Corporation, Kyoritsu Electrical Instruments Works Ltd., Elcometer Limited, Seaward Group, AEMC Instruments (Chauvin Arnoux Inc.), B&K Precision Corporation, PCE Holding GmbH, Scientific Mes-Technik Pvt. Ltd., Beha-Amprobe GmbH, Electrical Test Instruments LLC (ETI)
North America was the largest region in the electrical test equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electrical test equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
The countries covered in the electrical test equipment market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.
The electrical test equipment market consists of revenues earned by entities providing services such as voltage testing, current measurement, resistance measurement, continuity testing, insulation testing, and power quality analysis. The market value includes the value of related goods sold by the service provider or included within the service offering. The electrical test equipment market also includes sales of multimeters, oscilloscopes, power analyzers, signal generators, insulation testers, and circuit analyzers. Values in this market are 'factory gate' values, that is, the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors, and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.
The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).
The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.
Electrical Test Equipment Global Market Report 2025 from The Business Research Company provides strategists, marketers and senior management with the critical information they need to assess the market.
This report focuses on electrical test equipment market which is experiencing strong growth. The report gives a guide to the trends which will be shaping the market over the next ten years and beyond.
Where is the largest and fastest growing market for electrical test equipment ? How does the market relate to the overall economy, demography and other similar markets? What forces will shape the market going forward? The electrical test equipment market global report from the Business Research Company answers all these questions and many more.
The report covers market characteristics, size and growth, segmentation, regional and country breakdowns, competitive landscape, market shares, trends and strategies for this market. It traces the market's historic and forecast market growth by geography.
The forecasts are made after considering the major factors currently impacting the market. These include the Russia-Ukraine war, rising inflation, higher interest rates, and the legacy of the COVID-19 pandemic.