North American Used Test and Measurement Equipment Markets

Resellers’ Initiative for Increased Information Flow Boosts Market Growth

The excessive involvement of brokers in the buying and selling process is creating information dysfunction, which is the lack of information regarding the source and demand for used test equipment. Sellers and buyers are, therefore, uncertain if they are being offered the most competitive rates in the market. This lack of confidence in the middlemen who are making undue profits is affecting market growth. In order to sustain revenues, it is essential for participants to enforce greater transparency and raise credibility standards in the used test equipment market.

This report offers insights into the North American used test and measurement equipment market for electronic counters, oscilloscopes, network analyzers, signal generators, spectrum analyzers, power meters, and multimeters. In addition to identifying trends, restraints, and drivers, the study also offers competitive analysis and revenue forecasts. Forecasts are also included that help participants to capitalize on growth opportunities.

Pricing Benchmarks Key to Overcoming End-User Apprehensions

The lack of transparency in the used test equipment market has forced resellers to form pricing benchmarks as part of a buyer protection program. This move relieves dysfunctional practices involved in a transaction and prevents middlemen from making excessive profits.

The pricing benchmark is based on a scientific algorithm that takes into account factors such as condition of the test equipment, year of manufacture, brand, accessories provided with the instrument, and the usage criteria. This is then compared to the relevant historical set of data and a price band for that equipment is provided to the user. "Such a pricing benchmark enhances end-user decisions by providing relevant information on appropriate buying/selling rates and is expected to boost market growth in the long run," says the analyst of this research.

Efforts to Promote Organized Trade Transactions to Boost Revenue Growth

Re-sellers are taking the initiative to enhance transparency and create a more organized system to drive growth in the used test equipment market. There has been an attempt to foster trust among participants by providing calibration certificates, guarantees, warranties, price benchmarks, buyer protection programs, and post sales backup for the used test equipment based on its condition, and variety.

The entry of original equipment manufacturers (OEMs) in the used test equipment market is expected to increase credibility and accountability. "OEMs strive toward providing similar warranty terms and clauses for the used test equipment as they do for the new devices," explains the analyst. "Moreover, the buyer protection programs provided by the resellers and OEMs, which guarantee the quality of the used test equipment, have a positive impact on market growth."