Global Electrical Testers Market 2017-2021
About Electrical Testers
Electrical testers refer to the equipment that is used to test the presence or absence of electric current. These can be simple equipment to test if electricity is present or absent in a given circuit, or they might even be complex equipment that requires multiple testing for high-voltage applications.
Electrical testers find application in almost all places where electricity is involved. Electricity is used everywhere, including in industrial sites, commercial spaces, and residential buildings. As consumer electronics have semiconductor chips embedded in them, their production involves the use of electrical testers. Testers provide an easy, fast, and reliable way to check electrical conditions, prior to the repair or maintenance of a circuit.
Technavio’s analysts forecast the global electrical testers market to grow at a CAGR of 3.52% during the period 2017-2021.
Covered in this report
The report covers the present scenario and the growth prospects of the global electrical testers market for 2017-2021. To calculate the market size, the report considers the demand for electrical testers.
The market is divided into the following segments based on geography:
Technavio Announces the Publication of its Research Report – Global Electrical Testers Market 2017-2021
Technavio recognizes the following companies as the key players in the global electrical testers market: Fluke, Keysight Technologies, Rohde & Schwarz, and Tektronix.
Other Prominent Vendors in the market are: B&K Precision, EXFO, Metrel, National Instruments, TESSCO, and Yokogawa Electric.
Commenting on the report, an analyst from Technavio’s team said: “The latest trend gaining momentum in the market is rapid industrialization in APAC. Industrial production is the prime growth driver for the global economy, contributing as much as 26% to the global GDP in 2014. Global economic growth has been recovering considerably since the downturn in 2008, driven particularly by the robust growth in manufacturing in most regions. The average manufacturing value added by countries such as India, China, and Indonesia expanded by 5% in 2014 while, in contrast, that of the developed countries stood at 1%.”
According to the report, one of the major drivers for this market is growth of semiconductor industry. The semiconductor industry makes use of electrical testers. The strong growth of the semiconductor and electronics industry in APAC is driving the growth of the market. The major reason for the boom in these sectors is due to the growing penetration of smartphones.
Further, the report states that one of the major factors hindering the growth of this market is uncertainty in global economic growth. Fluctuations in the global economy, especially in regions with a high number of original design manufacturers (ODMs) and original equipment manufacturers (OEMs) of electrical and electronic devices, reduce the credit available to manufacturers and raise the interest rates. The increase in interest rates leads to higher cost of manufacturing, thus raising the price of the product. Higher prices impact market demand, which may negatively affect the net sales revenue of vendors.
Fluke, Keysight Technologies, Rohde & Schwarz, Tektronix, B&K Precision, EXFO, Metrel, National Instruments, TESSCO, and Yokogawa Electric.