Press release
Electricity And Signal Testing Instruments Industry Outlook 2025-2029: Market Set to Cross $85.84 Billion Milestone
Electricity And Signal Testing Instruments
How Large Will the Electricity And Signal Testing Instruments Market Size By 2025?
The market for electricity and signal testing instruments has witnessed steady expansion over the recent years, with a projected increase from $65.9 billion in 2024 to $69.17 billion in 2025, reflecting a compound annual growth rate (CAGR) of 5.0%. The previous historical growth can be linked to elements such as electrification, progress in electrical engineering and measurement technology, adherence to safety and regulation, industrialization, and developments in the telecommunications and electronics sectors.
How Big Is the Electricity And Signal Testing Instruments Market Size Expected to Grow by 2029?
In the coming years, the market for electricity and signal testing instruments is predicted to experience significant growth, enlarging to $85.84 billion in 2029 with a 5.5% compound annual growth rate (CAGR). This anticipated growth over the forecast period is due to factors such as the integration of renewable energy, energy efficiency and conservation, Industry 4.0 and Internet of Things (iot), amendments in regulations, as well as 5g and communication technologies. The forecast period also suggests major trends like portable and handheld instruments, wireless connectivity, multifunctional testers, and data analysis and visualization along with green testing solutions.
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Which Key Market Drivers Powering Electricity And Signal Testing Instruments Market Expansion and Growth?
The surge in demand from the construction sectors is fueling the market for electricity and signal testing devices. The manufacturing sector for these instruments is witnessing solid growth, spurred on by the expansion in construction activities. This rise in construction is boosted by factors such as growing disposable income, robust economic growth, a stable political climate, and an increase in foreign investments. For example, Oxford Economics, a UK-based firm specializing in economic information services, forecasted in March 2023 that the worth of construction work will escalate from $9.7 trillion in 2022 to $13.9 trillion by 2037. This increase is primarily driven by the key construction markets in China, the U.S., and India. Hence, the escalating demand from construction undertakings is speculated to stimulate the market for electricity and signal testing instruments.
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What Trends Will Shape the Electricity And Signal Testing Instruments Market Through 2029 and Beyond?
Firms operating in the electricity and signal testing instrument industry are progressively putting their investment into downsizing the equipment. The rapid advancement in the electronics sector is fostering the production of compact electronic devices, which necessitates the use of small-scale test and measurement tools. These downsized testing and measurement devices are versatile and user-friendly. For instance, Advantest is now providing compact-sized electricity and signal testing equipment to meet the escalating demand from customers.
What Are the Emerging Segments in the Electricity And Signal Testing Instruments Market?
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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Who Are the Global Leaders in the Electricity And Signal Testing Instruments Market?
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, 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
Which are the Top Profitable Regional Markets for the Electricity And Signal Testing Instruments Industry?
Asia-Pacific was the largest region in the electricity and signal testing instruments market in 2024. 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
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