Pune, March 4, 2021 (GLOBE NEWSWIRE) – Market analysis
Market Research Future (MRFR) forecasts a global electronic load market size of USD 4.91 billion with a CAGR of 6.83% from 2020 to 2026 (forecast period).
Electronic loads are load devices that are used to set the desired resistance value. AC and DC electronic loads are used to test a variety of power sources such as inverters, converters, UPS, and electrotechnical sources such as battery, solar, wind, and fuel cells. Manufacturers of solar, power supply and battery products must dynamically test their deliveries due to the ever increasing and decreasing load capacity.
Key factors driving the growth of the global electronic load market include a growing focus on testing consumer electronics and devices, and increasing the reliability of wireless communications. Growing investments in aerospace, defense and government services to build technologically advanced spacecraft, aircraft and defense systems continue to drive growth in the industry. In addition, favorable measures and the increasing development of electric vehicle infrastructure around the world, as well as investments in research and development (R&D) to develop equipment, continue to fuel the growth of the industry. Nevertheless, the high capital cost of electronic load devices is a limiting factor in the growth of the global electronic load market.
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Impact of COVID-19 on the Global Electronic Load Market
The market is expected to slow slightly as a result of the global outbreak of a new coronavirus pandemic. Manufacturing work has stalled due to labor shortages and home work initiatives. This has led to a massive drop in demand in the end-use industry.
Market segmentation
The global electronic load industry has been segmented by voltage, current type, and application.
By voltage, the global Electronic Load Market has been divided into low and high. The low segment is expected to hold a larger market share and grow the fastest over the forecast period.
According to the current type, the global electronic load market has been divided into AC and DC. The DC segment is predicted to lead the market during the evaluation period as DC-type electronic loads are used to test power devices, including batteries, vehicle charging stations, inverter testing, and other high-demand power electronic components.
Through the application, the global electronic loads market has been divided into aerospace, defense and government services, automotive, energy, wireless communication and infrastructure, and others. The wireless communications and infrastructure segment is expected to have the largest share of the global electronic load market.
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Regional analysis
By region, the electronic loads market is divided into Asia-Pacific, North America, Europe, the Middle East and Africa, and South America.
North America dominates the global electronic load market
North America is the largest market for electronic loads. The region has been divided into the United States, Canada, and Mexico by country. The demand for electronic load in this region is primarily driven by applications such as aerospace defense and government services, wireless communications, and the automotive industry. Aerospace, defense and government services are the largest sector in North America during the forecast period as they manufacture technologically advanced aircraft and defense systems. This is compounded by increased defense spending and resource allocations by national governments. In addition, some of the most important manufacturers are located in this region and they continue to focus on research and development to innovate in new technologies.
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Competitive landscape
The major players in the global Electronic Loads Market are.
- Keysight Technologies (USA)
- Teledyne Technologies (USA)
- Ametek (USA)
- National Instruments (USA)
- Tektronix (USA)
- Chroma ATE (Taiwan)
- B & K Precision Corporation (USA)
- NFcorp (Japan)
- Matsusada Precision (Japan)
- Kikusui Electronics Corporation (Japan)
- Hocherl & Hackl GmbH (Germany)
- Magna Power Electronics (USA)
- Good Will Instrument Co., Ltd. (Taiwan)
- Beich Electronics (China) and
- Itech Electronic Co. Ltd. (Taiwan).
Many large companies such as Ametek (USA), National Instruments (USA), Teledyne Technologies (USA) and Keysight Technologies (USA) participate in projects to develop electronic loads, among other things. For example, in September 2019 Teledyne Technologies (USA) announced the addition of electronic loads and DC power supplies with new products to the T3 portfolio and provided test equipment that engineers can use to assemble a well-equipped test bench. Such advances should fuel the growth of the global electronic load market over the forecast period.
Summary
The global electronic loads market size is forecast to reach USD 4.91 billion from 2020 to 2026 (forecast period) with an annual growth rate of 6.83%. An electronic charger is a device that loads the outputs of the power supply and can generally charge dynamically, often in a programmable manner or under computer control. For AC and DC supply testing, electronic loads are available to evaluate batteries and power supplies. Most electronic loads can emulate a variety of modes, including constant power, constant voltage, constant current, and constant resistance. The main factors driving the growth of the global electronic load market are the increasing emphasis on the manufacture of consumer electronics and the increasing availability of wireless communications. In addition, growing investments in the aerospace and defense industries to build advanced spacecraft are fueling the growth of the electronic load market. However, the high capital cost of electronic load devices is a limiting factor in the growth of the global electronic load market.
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