The electronic load global market report 2024 from The Business Research Company provides comprehensive market statistics, including global market size, regional shares, competitor market share, detailed segments, trends, and opportunities. This report offers an in-depth analysis of current and future industry scenarios, delivering a complete perspective for thriving in the industrial automation software market.
Electronic Load Market, 2024 report by The Business Research Company offers comprehensive insights into the current state of the market and highlights future growth opportunities.
Market Size –
The electronic load market size has grown strongly in recent years. It will grow from $2.95 billion in 2023 to $3.16 billion in 2024 at a compound annual growth rate (CAGR) of 7.0%. The growth in the historic period can be attributed to increasing focus on energy efficiency, rising adoption of electric vehicles, increasing demand, increasing investments, and a rise in wireless communications.
The electronic load market size is expected to see strong growth in the next few years. It will grow to $4.15 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. The growth in the forecast period can be attributed to the increase in focus on renewables, investments in aerospace and defense, and the growing automotive and energy sector. Major trends in the forecast period include demand for wireless communication infrastructure, producing highly energy-efficient products, ongoing research and development activities, and technological innovations in power electronics.
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Scope Of Electronic Load Market
The Business Research Company’s reports encompass a wide range of information, including:
1. Market Size (Historic and Forecast): Analysis of the market’s historical performance and projections for future growth.
2. Drivers: Examination of the key factors propelling market growth.
3. Trends: Identification of emerging trends and patterns shaping the market landscape.
4. Key Segments: Breakdown of the market into its primary segments and their respective performance.
5. Focus Regions and Geographies: Insight into the most critical regions and geographical areas influencing the market.
6. Macro Economic Factors: Assessment of broader economic elements impacting the market.
Electronic Load Market Overview
Market Drivers –
The increasing use of renewable energy sources is expected to propel the growth of the electronic load market. Renewable energy sources are natural resources that are replenished at a rate that matches their consumption. The use of renewable energy sources is rising due to increasing concerns about climate change and the need to reduce carbon emissions. Renewable energy sources are essential for electronic loads as they enable efficient testing, validation, and operation of power sources and systems while also promoting sustainability and reducing environmental impact. For instance, in December 2023, according to the European Commission, a UK-based governing body, the European Union (EU) reached a 23.0% share of its gross final energy consumption from renewable sources in 2022, around 1.1% points higher than in 2021. Therefore, the increasing use of renewable energy sources is driving the growth of the electronic load market.
Market Trends –
Major companies operating in the electronic load market are focusing on developing automated process control systems to enhance testing precision and improve efficiency. Automated process control systems are integrated technologies used to manage, regulate, and optimize industrial processes through the use of sensors, controllers, and actuators, minimizing human intervention and enhancing efficiency, consistency, and safety. For instance, in November 2022, EA Elektro-Automatik GmbH & Co.KG, a Germany-based manufacturer of DC power supplies, launched the Industrial Series 60 kW DC Power Supplies and Loads. The 60 kW models offer maximum voltages ranging from 360 V to 2000 V and maximum currents from 80 A to 480 A, while the 30 kW models feature maximum voltages from 60 V to 2000 V and maximum currents from 40 A to 1000 A. With a total of 21 models in the 60 kW series and 29 models in the 30 kW series, engineers can choose the most suitable option for their specific applications. The increased power capability enables engineers to reduce the number of power instruments needed for high-power systems, saving critical rack space and providing more power in a smaller footprint.
The electronic load market covered in this report is segmented –
1) By Product Type: Direct Current (DC) Electronic Load, Alternating Current (AC) Electronic Load, Modular Electronic Load, Other Product Types
2) By Voltage: Below 600 Volt (V), Above 600 Volt (V)
3) By Deployment Mode: Benchtop Electronic Loads, Rack-mounted Electronic Loads
4) End-User Industry: Electronics Manufacturing, Automotive, Aerospace and Defense, Telecommunications, Renewable Energy
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Regional Insights –
North America was the largest region in the electronic load market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic load market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.
Key Companies –
Major companies operating in the electronic load market are Delta Electronics Inc., EA-Electronics GmbH, Ametek Programmable Power, Tektronix Inc., Keysight Technologies, Advantest Corporation, National Instruments Corporation, Chroma ATE Inc., Teledyne LeCroy, TDK-Lambda Corporation, RIGOL Technologies Inc., Kikusui Electronics Corporation, NF Corporation, EA Elektro-Automatik GmbH & Co. KG, Good Will Instrument Co. Ltd., OMICRON Lab, NH Research Inc., B&K Precision Corporation, Boonton Electronics Corporation, Pacific Power Source Inc., ITECH Electronic Co. Ltd., Maynuo Electronic Co. Ltd., Manson Engineering Industrial Ltd., Yokogawa Electric Corporation
Table of Contents
1. Executive Summary
2. Electronic Load Market Report Structure
3. Electronic Load Market Trends And Strategies
4. Electronic Load Market – Macro Economic Scenario
5. Global Electronic Load Market Size and Growth
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32. Global Electronic Load Market Competitive Benchmarking
33. Global Electronic Load Market Competitive Dashboard
34. Key Mergers And Acquisitions In The Electronic Load Market
35. Electronic Load Market Future Outlook and Potential Analysis
36. Appendix
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