Electronic Load Devices Market Top Companies
The major companies profiled in electronic load devices market report include AMETEK, Ainuo Instrument CO., Ltd, B&K Precision Corporation, Chroma ATE, Chroma Systems Solutions Inc., FDK Corporation, General Electric, Good Will Instrument Co., Itech Electronic Co. Ltd, Keysight Technologies, Kikusui Electronics Corporation, Matsudada Precision, National Instrument, NFCorp, TDK-Lambda Corporation, Tektronix, and Teledyne Technologies.
According to a new report published by Allied Market Research, titled, the electronic load devices market size was valued at $3.1 billion in 2021, and electronic load devices industry is estimated to reach $5.2 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.
North America would exhibit CAGR of 4.9% during 2022-2031.
As per global electronic load devices market analysis, by type, the modular segment accounted for the largest share in 2021.
By voltage, low was the leading segment in 2021.
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By current type, DC segment has largest market share in 2021.
By application, wireless communication & infrastructure has largest market share in 2021.
Increase in utilization of wireless technology in the consumer electronics and surge in the employment of battery in portable electronic gadgets have led to the demand for various testing equipment to avoid accidents.
Additional growth strategies such as expansion of production capacities, acquisition, partnership and research & innovation in the detection technologies have led to attain key developments in the global electronic load devices market trends.
The presence of adoption of electronics in various industries such as oil & gas, automobiles, renewable energy, wireless communications and infrastructure, and many other sectors to improve the efficiency in regards with utilization of power without loss.
The rising utilization of consumer electronics from the past few years in the developing countries such as India and China have led to increase in the demand for the electronic load devices for testing purpose.
The increase in awareness among the people toward environment has led to the utilization of alternative power sources in automotive industry and utilization of green energy.
The presence of surge in the EV industry after pandemic has led to increase in the utilization of battery pack which led to the demand for battery testing equipment.
Impact of Covid-19 on Global Electronic Load Devices Market
The COVID-19 negatively impacted the electronic load devices market as it led to a decline in the sales turnover. Owing to stringent lockdown restrictions, the manufacturing activity got severely affected, which hampered the market growth and profitability. However, during the forecast period, the market is expected to recover due to eased lockdown restrictions in most nations. Furthermore, the major manufacturing giants have launched various products related to consumer electronics which will lead to surge in the electronic load devices market opportunities after the pandemic.
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An electronic load is a test instrument designed to sink current and absorb power from a power source. Power supplies and electronic loads are complementary test equipment. The power supply tests electronic circuits under specific sourcing conditions. The surge in the development in electronic adoption across the world has led to the market growth.
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