Automotive Industry Growth Fuels Expansion In The Test And Measurement Equipment Market: A Key Driver Powering Test And Measurement Equipment Market Growth In 2025

The Test And Measurement Equipment Market Report by The Business Research Company delivers a detailed market assessment, covering size projections from 2025 to 2034. This report explores crucial market trends, major drivers and market segmentation by [key segment categories].

What Is the Current Test And Measurement Equipment Market Size and Its Estimated Growth Rate?
The market for test and measurement equipment has witnessed significant expansion in the past few years. It is projected to escalate from $33.53 billion in 2024 to $35.3 billion in 2025, a compound annual growth rate (CAGR) of 5.3%. Factors attributing to this growth in the historic period include development in the telecommunications sector, increasing intricacy of electronic devices, the growth of aerospace and defense industries, increased quality control requirements in manufacturing, and regulatory standards and compliance enforcement.

In the coming years, the market size for test and measurement equipment is predicted to witness robust growth. It is expected to escalate to a value of $43.85 billion by 2029, increasing at a compound annual growth rate (CAGR) of 5.6%. This growth throughout the forecasted period could be due to factors such as the scaling up of electric vehicle production, surges in the demand for high-speed data transmission, progress in wireless communication protocols, and a growing need for precision measurement. Prominent trends projected for this period encompass the evolution of compact and portable test equipment, the implementation of artificial intelligence in test and measurement procedures, the addition of automation and robotics in testing, the emergence of modular and software-driven instruments, and an intensified emphasis on energy efficiency in test gear.

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How Are Emerging Segments Shaping the Test And Measurement Equipment Market Landscape?
The test and measurement equipment market covered in this report is segmented -

1) By Product: General Purpose Test Equipment (GPTE), Mechanical Test Equipment (MTE)
2) By Service Type: Calibration Services, Repair Services Or After-Sales Services
3) By Vertical: Automotive And Transportation, Aerospace And Defense, Information Technology (IT) And Telecommunication, Education And Government, Industrial, Healthcare, Semiconductor And Electronics

Subsegments:
1) By General Purpose Test Equipment (GPTE): Multimeters, Oscilloscopes, Signal Generators, Function Generators, Power Analyzers, Spectrum Analyzers, Network Analyzers
2) By Mechanical Test Equipment (MTE): Universal Testing Machines, Hardness Testers, Fatigue Testers, Impact Testers, Materials Testing Systems, Torque Testers

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Which Growth Factors Are Influencing Test And Measurement Equipment Market Expansion?
The expansion of the automotive industry is predicted to stimulate the growth of the test and measurement equipment market. The automotive industry comprises several businesses and firms specializing in the designing, production, branding, sales, and upkeep of motor vehicles. These testing and measuring tools are commonly used for quality assurance, performance evaluations, safety checks, and automotive component compliance confirmations. For example, as per the European Automobile Manufacturers Association-a Belgian automobile manufacturing organization-in May 2023, there was a significant 5.7% increase in global motor vehicle manufacture compared to the previous year, with the total vehicles produced reaching 85.4 million. Correspondingly, Brand Finance plc, a British firm specializing in brand valuation, reported in February 2022 that approximately 78 million units were sold in the automobile sector, marking a significant 10% increase. This shows that the increasingly booming automotive industry is fueling the growth in the market for testing and measuring equipment.

Who Are the Dominant Players Across Different Test And Measurement Equipment Market Segments?
Major companies operating in the test and measurement equipment market include Texas Instruments Inc., Agilent Technologies Inc., AMETEK Inc., Fortive Corporation, Tektronix Inc., Teledyne Technologies Incorporated, Keysight Technologies Inc., Mouser Electronics Inc., Advantest Corporation, Rohde & Schwarz GmbH & Co. KG, Yokogawa Electric Corporation, Bruker Corporation, National Instruments Corporation, Fluke Corporation, Viavi Solutions Inc., EXFO America Inc., Anritsu Corporation, AEM Holdings Ltd., TestEquity LLC, Chroma Systems Solutions, RIGOL Technologies, OWON Technology Inc., Scientech Technologies Pvt. Ltd., GW Instek, B&K Precision Corporation, Tegam Inc.

What Are the Latest Developing Trends in the Test And Measurement Equipment Market?
Leading corporations in the test and measurement equipment market are prioritizing the development of innovative products like particle measuring equipment, which cater to the increased demand for precision and accuracy in a multitude of sectors. Particle measuring devices are employed to detect and quantify the concentration and size of particles present in air, liquids, or gases. An illustration of this is the Japan-based automatic test and measurement equipment manufacturer, Advantest Corporation, which in June 2024, introduced a cutting-edge particle measuring device called the WEL2100. This device was specifically designed for high-precision measurement of tiny particles, primarily lipid nanoparticles (LNP) utilized in drug delivery methods, as well as viruses and exosomes. WEL2100 utilizes an accurate nanopore sensor, conceived from semiconductor manufacturing procedures and microcurrent measurement technology, allowing for high-speed and accurate determination of particles in terms of quantity, size, and zeta potential.

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Which Geographic Regions Are Expected to Dominate the Test And Measurement Equipment Market in the Coming Years?
Asia-Pacific was the largest region in the test and measurement equipment market in 2024. Asia-Pacific is expected to be the fastest-growing region in the test and measurement equipment market report during the forecast period. The regions covered in the test and measurement equipment market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Frequently Asked Questions:
1. What Is the Market Size and Growth Rate of the Test And Measurement Equipment Market?
2. What is the CAGR expected in the Test And Measurement Equipment Market?
3. What Are the Key Innovations Transforming the Test And Measurement Equipment Industry?
4. Which Region Is Leading the Test And Measurement Equipment Market?

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