Global Testing Equipment Market: Size, Trends & Forecast with Impact Analysis of COVID 19 (2021-2025)

The report titled “Global Testing Equipment Market: Size, Trends & Forecast with Impact Analysis of COVID 19 (2021-2025)”, provides an in depth analysis of the global testing equipment market by value, by end-user, by region, etc. The report provides a regional analysis of the testing equipment market, including the following regions: North America, Europe, Asia Pacific, Middle East and Africa, and South and Central America. The report also provides a detailed analysis of the COVID-19 impact on the testing equipment market.

The report also assesses the key opportunities in the market and outlines the factors that are and will be driving the growth of the industry. Growth of the overall testing equipment market has also been forecasted for the period 2021-2025, taking into consideration the previous growth patterns, the growth drivers and the current and future trends.

The global testing equipment market is fragmented with many major market players operating worldwide. The manufacturers of testing equipment produce different types of products to cater to the needs of various sectors. The key players of the global testing equipment Market are Keysight Technologies Inc., Teradyne Inc., Advantest Corporation, and Cohu Inc. (LTX-Credence) are also profiled with their financial information and respective business strategies.

Regional Coverage

North America
Europe
Asia Pacific
Middle East and Africa
South and Central America

Company Coverage

Keysight Technologies Inc.
Teradyne Inc.
Advantest Corporation
Cohu Inc. (LTX-Credence)

Executive Summary

A testing equipment is used to generate signals and record responses from devices or instruments in order to demonstrate proper operation or track out faults. Testing equipment is used in a wide range of industries. It supports in monitoring equipment performance and identifying anomalies, if any exist. Few examples of testing equipment include plastic testing instruments, paint & plating instruments, paper & packaging instruments, textile & yarn testing instruments, pet & preform testing instruments, environmental test chambers, rubber testing instruments, metal testing instruments, color measurement instruments, water testing equipment, battery testing equipment, eye/ optical testing instruments). The major reasons to use testing equipment are to examine the product quality; to ensure safety of the devices to be used; and to improve device shelf life, performance, accuracy, and efficiency.

The testing equipment market can be segmented on the basis of end-user (consumer electronics, automotive, healthcare, telecom, energy and utility and others).

While most of the industries worldwide suffered a negative impact of COVID-19, the global testing equipment market witnessed a mixed impact on it. Initially, the market witnessed a fall in the supply and shipment of testing equipment, however the demand for testing equipment were more or less the same during the pandemic. Later in the year, the supply nearly matched the demand.

The global testing equipment market has increased during the years 2019-2020 and projections are made that the market would rise in the next four years i.e. 2021-2025. The global testing equipment market is expected to increase due to the increased demand for consumer electronic devices, increasing penetration of smart connected devices, rise in automotive industry, increasing use of testing equipment in industrial sector, and supportive government initiatives, yet the market faces some challenges such as, economic downturn, high cost associated with the testing equipment, increasing complexity of the devices, etc.