Major players in the power and signal test equipment market are Fortive Corporation, Rohde & Schwarz GmbH & Co, Anritsu Corporation, Advantest Corp., Teradyne Inc. and Good Will Instruments.
New York, May 17, 2021 (GLOBE NEWSWIRE) – Reportlinker.com announces the release of Global Market Report 2021: The Impact and Recovery of COVID 19 by 2030 – https: //www.reportlinker. com / p06072086 /? utm_source = GNW
The global power and signal test equipment market is forecast to grow from $ 54.59 billion in 2020 to $ 58.33 billion in 2021, with an average annual growth rate (CAGR) of 6.9%. The growth is mainly due to companies reorganizing their operations and recovering from the effects of COVID-19, which had previously resulted in restrictive containment measures that included social distancing, remote working and the closure of commercial activities that created operational challenges . The market is projected to reach $ 74.62 billion in 2025 with a 6% annual growth rate.
The power and signal test equipment market consists of the sale of power and signal test equipment and related services such as detecting errors in the operation of electronic devices and collecting electronic device responses to measure and test the properties of electronic and electrical signals. The power and signal test equipment is required to find and analyze the circuit conditions, to check electronic test equipment and to perform maintenance work in various industries.
Some of the products made by these instruments include circuit and continuity testers, voltmeters, ohmmeters, wattmeters, mustimeters, and semiconductor testers.
The increasing demand from the construction industry drove the market for power and signal test equipment. The market for the manufacture of current and signal test equipment is growing rapidly due to increasing construction activity.
The increasing demand for construction activities was supported by rising disposable incomes, strong economic growth, a stable political environment and increasing foreign investment. According to the global information, the global construction market is expected to grow to $ 18,775.3 billion by 2022 at an average annual growth rate (CAGR) of 10.6%. Hence, increasing demand from construction activities is expected to drive the market for power and signal testing instruments.
Trade protectionism in relation to the construction industry is expected to increase in most markets. This is expected to constrain the power and signal test equipment manufacturing market. Many countries have introduced trade restrictions, especially on imports, to stimulate local wood and metal products widely used in the construction industry.
The US is also imposing many trade restrictions, particularly with China, to improve local production. For example, the US has introduced a 25% duty on steel and a 10% duty on aluminum.
Growing trade protectionism in the construction industry is negatively impacting the power and signal test equipment market. Hence, increasing trade protectionism is limiting the growth of the power and signal test equipment market.
The Power And Signal Test Equipment Market Covered In This Report Is Segmented Into Current Test Equipment, Other Test And Measurement Instruments, Semiconductor And Signal Test Equipment By Type.
The companies in the field of current and signal testers are increasingly investing in the miniaturization of the instruments. The rapid growth in the electronics industry leads to the development of small electronic devices that require miniaturized test and measurement equipment.
Miniaturized test and measuring devices are flexible and easy to use. For example, Advantest currently offers miniaturized power and signal testers to keep pace with growing end-user demand.
In January 2019, Teradyne, an American developer and supplier of automatic test equipment, acquired Lemsys at an undisclosed price. The acquisition involves a change of ownership and drives Lemsys' growth through Teradyne's global sales and financial strength.
This acquisition enables Teradyne to expand product development and market growth. Lemsys is a Switzerland-based company that manufactures test equipment for the semiconductor industry, electric vehicles, wind and solar power generation, and high-performance industrial applications.
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