Press release
Construction Industry Demand Fuels Growth In The Electricity And Signal Testing Instruments Market: A Key Factor Shaping the Future of the Electricity And Signal Testing Instruments Market in 2025
Electricity And Signal Testing Instruments Market Trends
There has been a significant increase in the market size of electricity and signal testing instruments over the recent years. The market is projected to rise from $67.25 billion in 2024 to $71.7 billion in 2025, representing a compound annual growth rate (CAGR) of 6.6%. The historical growth in this market is due to factors like electrification, progress in electrical engineering and measurement technology, safety and regulatory conformity, industrial expansion, as well as developments in telecommunications and electronics.
The market for electricity and signal testing instruments is set to witness robust expansion in the forthcoming years, escalating to a value of $89.91 billion by 2029, with a compound annual growth rate (CAGR) of 5.8%. Factors contributing to this expected growth during the forecast period include the integration of renewable energy, emphasis on energy efficiency and conservation, the rise of Industry 4.0 and IoT, regulatory alterations, and advancements in 5G and communication technologies. The period is likely to be characterized by the prevalence of trends such as handheld and portable instruments, wireless connectivity, multifunctional testers, data analysis and visualization, as well as green testing solutions.
What Are the Main Catalysts for Growth in the Electricity And Signal Testing Instruments Market?
The surge in requirements from the construction sector is propelling the electricity and signal testing instruments market forward. This sector is currently experiencing robust growth due to the escalating levels of construction activity. Factors such as increased disposable income, solid economic growth, a consistent political climate and more foreign investments have all contributed to the uptick in construction activity. For example, Oxford Economics, an economic data provider based in the UK, predicted in March 2023 that the value of construction work is set to escalate from $9.7 trillion in 2022 to $13.9 trillion by 2037. This growth is expected to be driven primarily by the main construction markets of China, the U.S., and India. Consequently, the heightened demand stemming from construction endeavours is projected to stimulate the electricity and signal testing instruments market.
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Which Businesses Are at the Forefront of Electricity And Signal Testing Instruments Market Development?
Major companies operating in the electricity and signal testing instruments market include Fortive Corporation, Rohde & Schwarz GmbH & Co, Anritsu Corporation, Advantest Corp, Teradyne Inc, Good Will Instruments, Keysight Technologies, Tektronix, Fluke Corporation, Agilent Technologies, National Instruments Corporation, Yokogawa Electric Corporation, EXFO Inc., Viavi Solutions Inc., Chroma ATE Inc., Teledyne LeCroy Inc., GW Instek, B&K Precision Corporation, Hioki E.E. Corporation, Megger Group Limited, Chau*vin Arnoux Group, Amprobe Test Tools, AEMC Instruments, Flir Systems Inc., Emerson Electric Co., Danaher Corporation, Honeywell International Inc., Siemens AG, General Electric, Schneider Electric SE
What Are the Latest Innovations in the Electricity And Signal Testing Instruments Market?
There is an increasing trend among companies in the electricity and signal testing instruments sector towards investing in the miniaturization of their products. This trend is linked to the rapid expansion of the electronics industry, resulting in the production of small-scale electronic devices necessitating miniaturized test and measurement equipment. Miniaturized testing and measurement apparatus offer advantages of being flexible and user-friendly. For instance, Advantest is presently providing miniaturized electrical and signal testing tools in response to the increasing demand from end-users.
How Is the Electricity And Signal Testing Instruments Market Segmented?
The electricity and signal testing instruments market covered in this report is segmented -
1) By Type: Electricity Testing Instruments, Other Testing and Measuring Instruments, Semiconductor And Signal Testing Instruments
2) By Services: Calibration Services, Repair Services Or After-Sales Services
3) By Application: Environmental Protection, Rail, Water Affairs, Municipal, Other Applications
Subsegments:
1) By Electricity Testing Instruments: Multimeters, Clamp Meters, Insulation Testers, Power Analyzers, Circuit Breaker Testers
2) By Other Testing And Measuring Instruments: Temperature Testers, Pressure Testers, Vibration Meters, Humidity Testers, Electrical Safety Testers
3) By Semiconductor And Signal Testing Instruments: Oscilloscopes, Signal Generators, Spectrum Analyzers, Semiconductor Analyzers, Logic Analyzers
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Where Is the Electricity And Signal Testing Instruments Market Growth Most Prominent?
Asia-Pacific was the largest region in the electricity and signal testing instruments market in 2023. North America was the second-largest region in the electricity and signal testing instruments market. The regions covered in the electricity and signal testing instruments market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa
What Is Covered In The Electricity And Signal Testing Instruments Global Market Report?
- Market Size Analysis: Analyze the Electricity And Signal Testing Instruments Market size by key regions, countries, product types, and applications.
- Market Segmentation Analysis: Identify various subsegments within the Electricity And Signal Testing Instruments 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 Electricity And Signal Testing Instruments Market growth.
- Growth Drivers: Detail key factors influencing market growth, including opportunities and drivers.
- Industry Challenges: Analyze challenges and risks affecting the Electricity And Signal Testing Instruments Market.
- Competitive Developments: Analyze competitive developments, such as expansions, agreements, and new product launches in the market.
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