Press release
Key Electrical Test Equipment Market Trend for 2025-2034: Fluke Introduces The 377 FC And 378 Series Clamp Meters With FieldSense Technology
Electrical Test Equipment Market
The electrical test equipment market will grow from $6.63 billion in 2024 to $7.11 billion in 2025, at a CAGR of 7.2%. This is driven by the growing power sector, increasing demand for electronics, stringent regulatory standards, and a focus on energy efficiency.
The electrical test equipment market is expected to grow to $8.95 billion by 2029 at a CAGR of 5.9%, driven by the demand for electronics, renewable energy adoption, and Industry 4.0. Key trends include technological advancements and product innovations.
What Is Stimulating Growth in the Electrical Test Equipment Market?
The rising incidence of electricity-related accidents is expected to propel the growth of the electric test equipment market. Electricity-related accidents result from unintended and harmful interactions with electrical energy, often causing injury or fatalities. Electric test equipment helps identify potential hazards and assess the condition of electrical systems to ensure compliance with safety standards. For instance, in 2022, an estimated 500 to 1,000 fatalities result from electrical injuries annually in the U.S., with approximately 30,000 reported cases of nonfatal electrical injuries. These factors are driving the growth of the electric test equipment market.
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Which Key Market Leaders Are Driving Electrical Test Equipment Industry Growth?
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 (Arnoux Inc.), B&K Precision Corporation, PCE Holding GmbH, Scientific Mes-Technik Pvt. Ltd., Beha-Amprobe GmbH, Electrical Test Instruments LLC (ETI)
What Are the Main Segments in the Electrical Test Equipment Market?
The electrical test equipment market covered in this report is segmented -
1) By Equipment Type: Stationary, Portable
2) By Application: Voltage Testing, Functionality Testing, Other Testing Applications
3) By Vertical: Automotive And Transportation, Aerospace And Defense, Information Technology (IT) And Telecommunications, Education And Government, Semiconductor And Electronics, Industrial, Healthcare, Energy And Power, Other Verticals
Subsegments:
1) By Stationary: Power Analyzers, Insulation Testers, Circuit Testers, Electrical Load Banks, High-Voltage Test Equipment, Multimeters
2) By Portable: Digital Multimeters (DMM), Clamp Meters, Portable Oscilloscopes, Power Quality Analyzers, Earth Ground Testers, Insulation Resistance Testers
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Which Geographic Area Leads the Electrical Test Equipment Market?
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.
What Is Covered In The Electrical Test Equipment Global Market Report?
- Market Size Analysis: Analyze the Electrical Test Equipment Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electrical Test Equipment Market for effective categorization.
- Key Player Focus: Focus on key players to define their market value, share, and competitive landscape.
- Growth Trends Analysis: Examine individual growth trends and prospects in the Market.
- Market Contribution: Evaluate contributions of different segments to the overall Electrical Test Equipment Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electrical Test Equipment Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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