Major players in the electricity and signal testing instruments 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 the report "Electricity And Signal Testing Instruments Global Market Report 2021: COVID 19 Impact and Recovery to 2030" - https://www.reportlinker.com/p06072086/?utm_source=GNW
The global electricity and signal testing instruments market is expected to grow from $54.59 billion in 2020 to $58.33 billion in 2021 at a compound annual growth rate (CAGR) of 6.9%. The growth is mainly due to the companies rearranging their operations and recovering from the COVID-19 impact, which had earlier led to restrictive containment measures involving social distancing, remote working, and the closure of commercial activities that resulted in operational challenges. The market is expected to reach $74.62 billion in 2025 at a CAGR of 6%.
The electricity and signal testing instruments market consist of sales of electricity and signal testing instruments and related services such as detecting faults in the operation of electronic devices, capturing responses from electronic devices for the usage of measuring and testing the characteristics of electronic and electrical signals.The electricity and signal testing instruments are necessary to find and analyze the circuit conditions, for checking electronic test equipment and maintenance in various industries.
Some of the products manufactured by these instruments include circuit and continuity testers, volt meters, ohm meters, watt meters, mustimeters, and semiconductor test equipment.
The increasing demand from construction industries drove the market for electricity and signal testing instruments.The electricity and signal testing instruments manufacturing market is registering a strong growth due to rise in construction activity.
The increasing demand in construction activity was aided by rising disposable income, strong economic growth, stable political environment and increasing foreign investments. According to the global information, global construction market is expected to grow to $18,775.3 billion at a compound annual growth rate (CAGR) of 10.6% through 2022. Therefore, the increasing demand from construction activities is expected to drive the market for electricity and signal testing instruments.
Trade protectionism pertaining to construction industry are expected to increase in most of the markets, this is expected to restrain the electricity and signal testing instruments manufacturing market.Many countries have imposed trade restrictions, especially on imports, to boost local wood and metal products which are widely used in the construction industry.
The US also imposes many trade restrictions, especially with China, to improve its local production.For example, the US placed a tariff of 25% on steel and a tariff of 10% on aluminium.
The increasing trade protectionism in construction industry has a negative impact on electricity and signal testing instruments market. Therefore, the increasing trade protectionism limits the growth of electricity and signal testing instruments market.
The electricity and signal testing instruments market covered in this report is segmented by type into electricity testing instruments, other testing and measuring instruments, semiconductor and signal testing instruments.
The companies in the electricity and signal testing instruments are increasingly investing in miniaturization of the instruments.The fast growth in the electronics industry is leading to the development of small-sized electronic devices for which miniaturised test and measurement equipment are required.
Miniaturised test and measurement equipment is flexible and easy to use. For example, Advantest is currently offering miniaturised electricity and signal testing equipment in order to keep up with the growing end user demand.
In January 2019, Teradyne , an American developer and supplier of automatic test equipment acquired Lemsys for an undisclosed amount.The acquisition includes change of ownership and enhances Lemsys’s growth through Teradyne ’s global distribution and financial strength.
This acquisition will allow Teradyne to expand product development and market growth. Lemsys is a Switzerland based company which produces test equipment for the semiconductor industry, electric vehicles, wind and solar power generation, and high-power industrial applications.
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