Top Players and Market Competition in the Electrical Test Equipment Industry

The electrical test equipment market is poised for significant expansion in the coming years, driven by rapid technological advancements and increasing demands across various industries. This growth reflects broader trends in electric vehicle infrastructure, renewable energy, and digital diagnostics, positioning the market for robust development through 2030.

Projected Market Size and Growth Trajectory of the Electrical Test Equipment Market
By 2030, the electrical test equipment market is expected to reach a valuation of $9.16 billion, growing at a compound annual growth rate (CAGR) of 5.5%. This upward trend is fueled by several factors, including the rising need for testing infrastructure in electric vehicles, widespread adoption of predictive maintenance technologies, and greater incorporation of AI-powered diagnostic testing. Additionally, the market benefits from the expansion of renewable energy system validation, enhanced focus on power grid stability, and quality assurance. Key developments anticipated during this period include increased use of smart connected testing instruments, a shift toward portable and handheld devices, integration of advanced safety and diagnostic features, growth in automated industrial testing, and heightened demand for high-voltage and power quality testing solutions.

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Top Players Making an Impact in the Electrical Test Equipment Industry
The electrical test equipment sector features several leading companies shaping its landscape. These include 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, and Electrical Test Instruments LLC (ETI).
A notable industry move took place in October 2023, when US-based Emerson Electric Co. acquired National Instruments for $8.2 billion. This acquisition enhances Emerson Electric's portfolio by integrating National Instruments' expertise and product offerings in electrical test equipment.

Emerging Technological Advances Shaping the Electrical Test Equipment Market
Leading companies in this market are concentrating on technological progress to enhance measurement accuracy, safety, and signal integrity, particularly for high-voltage applications. One such innovation is the development of optically isolated differential probes, which are crucial for testing EV inverters, renewable energy converters, and wide-bandgap semiconductor devices. Unlike traditional probes, these use galvanic isolation and provide high common-mode voltage rejection, enabling precise measurement of small differential signals superimposed on high floating voltages while minimizing noise and safety risks.
For example, in March 2025, Keysight Technologies introduced the Optically Isolated Differential Probing Series aimed at high-voltage power electronics testing. This product supports a ±2,500 V differential range with a bandwidth up to 1 GHz, delivering exceptional common-mode voltage rejection and targeting applications such as EV inverter topologies and GaN/SiC power module testing.

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Key Segmentation Overview of the Electrical Test Equipment Market
The global electrical test equipment market is divided into several primary segments:
1) Equipment Type: Stationary and Portable
2) Application: Voltage Testing, Functionality Testing, and Other Testing Applications
3) Industry Vertical: Automotive and Transportation, Aerospace and Defense, IT and Telecommunications, Education and Government, Semiconductor and Electronics, Industrial, Healare, Energy and Power, and Other Verticals

Further detailing the equipment types, stationary devices include power analyzers, insulation testers, circuit testers, electrical load banks, high-voltage test equipment, and multimeters. Portable devices cover digital multimeters (DMM), clamp meters, portable oscilloscopes, power quality analyzers, earth ground testers, and insulation resistance testers.

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This release was published on openPR.