The Electrical Test Equipment Market Overview 2025 report reveals that the market size has grown significantly over the past few years, with projections indicating further expansion.
What are the Historical Growth Trends in the Electrical Test Equipment Market?
The market size for electrical test equipment has robustly increased in the past. It is expected to rise from $6.63 billion in 2024 to $7.11 billion in 2025, with a compound annual growth rate (CAGR) of 7.2%.
What are the 2025 Market Projections: Forecasted Size & Growth Rate for the Electrical Test Equipment Industry?
By 2029, the electrical test equipment market is projected to reach $8.95 billion, expanding at a compound annual growth rate (CAGR) of 5.9%.
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What are the Key Growth Drivers Fueling the Electrical Test Equipment Market?
The key drivers in the electrical test equipment market are:
• Rising demand for electronics and electrical devices
• Increasing adoption of renewable energy
• Advancements in industry 4.0 and smart manufacturing
• Global expansion of 5G networks
Global Market Segmentation: Identifying Major Electrical Test Equipment Industry Segments
The electrical test equipment market covered in this report is segmented –
1) By Equipment Type: Stationary, Portable
2) By Application: Voltage Testing, Functionality Testing, Other Testing Applications
3) By Vertical: Automotive And Transportation, Aerospace And Defense, Information Technology (IT) And Telecommunications, Education And Government, Semiconductor And Electronics, Industrial, Healthcare, Energy And Power, Other Verticals
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What are the Emerging Trends Shaping the Future of the Electrical Test Equipment Market?
The key trends in the electrical test equipment market are:
• Technological advancements are becoming a primary trend.
• Product innovation is noticeably increasing in the market.
• Collaborations and partnerships are emerging as key market strategies.
• Industry 4.0 and smart manufacturing are trending heavily in the market.
Who Are the Top Competitors & Leading Players in the Electrical Test Equipment Market?
Major companies in the electrical test equipment market are:
• Tektronix Inc.
• Keysight Technologies Inc.
• Haefely Hipotronics Inc.
• Yokogawa Electric Corporation
• Rohde & Schwarz GmbH & Co KG
• Flir Systems Inc.
• National Instruments Corporation
• Testo SE & Co. KGaA
• Chroma ATE Inc.
• Anritsu Corporation
• Megger Group Limited
• Hioki Corporation
• Transcat Inc.
• TDK-Lambda Corporation
• OMICRON electronics GmbH
• GW Instek Inc.
• Kikusui Electronics Corporation
• Kyoritsu Electrical Instruments Works Ltd.
• Elcometer Limited
• Seaward Group
• AEMC Instruments (Chauvin Arnoux Inc.)
• B&K Precision Corporation
• PCE Holding GmbH
• Scientific Mes-Technik Pvt. Ltd.
• Beha-Amprobe GmbH
• Electrical Test Instruments LLC (ETI)
Regional Dominance: Which Area Leads the Global Electrical Test Equipment Market?
North America was the largest region in the electrical test equipment market in 2024
