Global Electrical Testers Market 2017-2021

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Global Electrical Testers Industry Outlook

Market research analysts at Technavio predict that the global electrical testers market will grow steadily during the next four years at a CAGR of around 4% by 2021. Rising commercial construction activities is one of the primary growth factors for this market. Commercial spaces include office buildings, data centers, hotels, and hospitals. The construction of these commercial spaces is being undertaken at a faster level in the developing countries compared to other advanced economies. The shifting trend of urbanization and industrialization has led to the need for more commercial spaces in the developing economies. Electrical testers are used to determine the electric supply in these buildings are as per the requirements and also help in locating faulty connections. The expansion of commercial construction activities is projected to create the demand for electric testers during the forecast period.

One of the latest trends that will gain traction in the global electrical testers market is the growth of the automotive industry. Electronics represent about 30-35% of the total manufacturing costs of an automotive vehicle. The growth of automotive electronics is mainly due to the growing demand for advanced electronic systems such as premium audio systems, advanced driver assistance systems, infotainment systems, on-board diagnostic systems, and electronic transmission. Moreover, the rising demand for automobiles and the increase in investments in the automotive sector has paved the way for the construction of new operational facilities. Similarly, there is also a rising preference for electric buses that run on 100% electricity. Such factors will increase the demand for electrical testers in the market in the forthcoming years.

Competitive landscape and key vendors  

Due to the presence of numerous small and regional vendors, the electrical testers market appears fragmented. The market is highly competitive and the prominent vendors in the market are adopting several growth strategies to improve their product portfolios and increase their market penetration. Moreover, these players are also focusing on initiatives to carry out R&D activities to develop innovative products.

The report offers a detailed analysis of several leading companies, including:

• Fluke
• Keysight Technologies
• Rohde & Schwarz
• Tektronix

The other prominent vendors in the market are B&K Precision, EXFO, Metrel, National Instruments, TESSCO, and Yokogawa Electric.

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Electrical testers market segmentation by end-user   

• Semiconductors and consumer electronic
• Industrial
• Automotive
• Aerospace and defense

During 2016, the semiconductors and consumer electronics segment accounted for the major shares of the electrical testers market. Factors such as the increasing global population and growing disposable incomes will contribute to the growth of this industry segment in the coming years. Moreover, the increasing demand for various electronic gadgets such as mobile phones, tablets, and laptops will also drive the growth of the segment in the global market.

Electrical testers market segmentation by geography

• Americas
• APAC
• EMEA

This market study estimates that in terms of geographic regions, the Americas was the major revenue contributor to the electrical testers market during 2016. However, APAC will lead this market during the forecast period due to the increased automation of processes in the industries. Also, with the rising population levels, rapid urbanization will also increase the industrialization in the region.

Key highlights of the global electrical testers market for the forecast years 2017-2021:

• CAGR of the market during the forecast period 2017-2021
• Detailed information on factors that will accelerate the growth of the electrical testers market during the next five years
• Precise estimation of the global electrical testers market size and its contribution to the parent market
• Accurate predictions on upcoming trends and changes in consumer behavior
• Growth of the electrical testers industry across various geographies such as the Americas, APAC, and EMEA
• A thorough analysis of the market’s competitive landscape and detailed information on several vendors
• Comprehensive information about factors that will challenge the growth of electrical testers companies

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