The “Power Device Analyzer Market” 2023-2031 Research Report affords qualitative and quantitative insights into the principal drivers, constraints, opportunities, and challenges influencing world markets growth. The find out about offers complete statistical market records on the leading players, as nicely as income predictions. This market lookup additionally presents statistics on the income boom of numerous regional and country-level markets, as properly as the opposition panorama and unique organization analyses for the projected period. The Power Device Analyzer Market Report covers potential improvement drivers as properly as the modern-day kingdom of market share, penetration of a number of kinds, technologies, applications, and areas thru 2031.
The global power device analyzer market size was US$ 458.5 million in 2021. The global power device analyzer market size is forecast to reach US$ 699.18 million by 2030, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2022 to 2030.
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A power device analyzer measures the flow of power in an electrical system. Basically, it measures the different flows of power, including direct current (DC), alternating current (AC), AC-voltage, and DC-voltage. Thus, it helps maximize the value of power electronic products by enabling the selection of the correct power device for the specific application. Several types of electrical power meters are available, including those used for inverters, home appliances, testing power electronics, lighting, motors & drives, and industrial machines. Due to its wide range of voltage and current and other features, it is capable of measuring all types of devices.
Factors Influencing Market Growth
Growing demand for highly engineered and energy-efficient electronic products and investments, in particular in the consumer electronics and healthcare industries, is driving the global industry’s growth.
Different government agencies are creating policies and programs to promote the use of renewable energy resources to decrease carbon emissions, thus encouraging global market growth.
Numerous organizations are offering comprehensive energy testing solutions with the help of power device analyzers, which, in turn, will accelerate industry growth in the near future.
Impact Analysis of COVID-19
The COVID-19 pandemic has negatively affected the market for power device analyzers. COVID-19 delayed the expansion of the power device analyzer market since governments were required to impose lockdowns for all of 2020, thereby lowering their demand. As a result of stringent restrictions, governments and municipalities did not pay enough attention to the growth of the end-user sector. A disruption in supply chain and production occurred throughout the year, posing a threat to the power device analyzer.
Regional Insights
The Asia Pacific region accounts for the largest revenue share in the market. Due to countries like China, India, Australia, and a growing middle class, the Asia Pacific region has emerged as an important hub for industrial production. The surge in demand for electric vehicles (EVs) and stricter government regulations have supported the regional market growth. The continued prominence of Asia as a manufacturing hub has aided industrialization, with South East Asia having an increasingly important role. Moreover, the tremendous growth in economic development and the rise in energy consumption are driving the market demand. The increasing preference for renewable energy sources also supports market demand across APAC.
North America is forecast to show progressive growth over the forecast period. The steadily growing regional market can be attributed to the deployment and application of test and measurement equipment in wireless networks and communications. Moreover, BMW, Tesla, and Volkswagen have manufacturing plants in the region, creating various lucrative opportunities for the region.
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Leading Competitors
The leading prominent companies profiled in the global power device analyzer market are:
Arbiter Systems Incorporated
Carlo Gavazzi Holding
Circutor
Dewetron
Fluke Corporation
Hioki E.E. Corporation
Iwatsu Electric
Keysight Technologies
Magtrol Incorporated
Newtons4th
Rohde & Schwarz
Texas Instruments
Vitrek Corporation
Yokogawa Electric Corporation
Zes Zimmer
Other Prominent Players
Scope of the Report
The global power device analyzer market segmentation focuses on Type, Current, End-Use, and Region.
Segmentation based on Type
Both Alternating Current circuits (AC) or Direct current systems (DC)
Alternating Current circuits (AC)
Direct-current systems (DC)
Segmentation based on Current
Below 1000 A
Above 1000 A
Segmentation based on End-Use
Automotive
Energy
Consumer Electronics & Appliances
Telecommunication
Medical
Others
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Segmentation based on Region
North America
The U.S.
Canada
Mexico
Europe
Western Europe
The UK
Germany
France
Italy
Spain
Rest of Western Europe
Eastern Europe
Poland
Russia
Rest of Eastern Europe
Asia Pacific
China
India
Japan
Australia & New Zealand
ASEAN
Rest of Asia Pacific
Middle East & Africa (MEA)
UAE
Saudi Arabia
South Africa
Rest of MEA
South America
Brazil
Argentina
Rest of South America
What are the key findings of the report?
?This report provides comprehensive information on factors expected to influence the market growth and market share in the future.
?The report offers the current state of the market and future prospects for various geographical regions.
?This report provides both qualitative and quantitative information about the competitive landscape of the market.
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