Yahoo Finance Electronic Load Market to Exhibit 6.83% CAGR by 2026 | Market Research Future (MRFR)
Key Companies Profiled are Keysight Technologies (US), Teledyne Technologies (US), Ametek (US), National Instruments (US), Tektronix (US), Chroma ATE (Taiwan), B&K Precision Corporation (US), NFcorp (Japan), Matsusada Precision (Japan), Kikusui Electronics Corporation (Japan), Hocherl & Hackl GmbH (Germany), Magna-Power Electronics (US), Good Will Instrument Co., Ltd. (Taiwan), Beich Electronics (China), and Itech Electronic Co. Ltd. (Taiwan).
Pune, March 04, 2021 (GLOBE NEWSWIRE) -- Market Analysis
Market Research Future (MRFR) projects the global electronic load market size to hit USD 4.91 billion with a 6.83% CAGR from 2020 to 2026 (forecast period).
Electronic Loads are load devices that are used to set the desired resistance value. AC and DC electronic loads are used to test a wide range of power sources like inverters, converters, UPS, and electrotechnical sources like a battery, solar, wind, and fuel cells. Manufacturers of solar, power supply and battery need to test their supplies dynamically due to the recurrent rising and decreasing load capacity.
Key factors impelling the growth of the global electronic load market include a growing focus on consumer electronics & appliance testing and boosting the reliability of wireless communication. Growing investment in aerospace, defense, and government services to build technologically advanced spacecraft as well as aircraft and defense systems is further driving the growth of the industry. In addition, favorable policies and the rising development of infrastructure for electric vehicles across the globe, coupled with the investment in research and development (R&D) to develop equipment, further boost the growth of the industry. Nevertheless, the high capital cost of electronic load devices is a constraining factor for the growth of the global electronic load market.
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COVID-19 Impact on the Global Electronic Load Market
The market is expected to experience a slight slowdown as a consequence of the global outbreak of a new coronavirus pandemic. Manufacturing work is at a standstill due to labor shortages and work from home initiatives. This has resulted in a massive decline in demand from the end-use industries.
Market Segmentation
The global electronic load industry has been segmented based on voltage, current type, and application.
By voltage, the global electronic load market has been segmented into low and high. The low segment is anticipated to hold a larger share of the market and grow at the fastest rate during the forecast period.
By the current type, the global electronic load market has been segmented into AC and DC. The DC segment is predicted to lead the market during the assessment period as DC type electronic loads are used for testing power devices, including batteries, automotive charging stations, inverter testing, and other power electronic components with high demand.
By application, the global electronic load market has been segregated into aerospace, defense & government services, automotive, energy, wireless communication and infrastructure, and others. The wireless communication and infrastructure segment is projected to hold the largest share within the global electronic load market.
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Regional Analysis
Based on region, the electronic load market has been segmented into Asia-Pacific, North America, Europe, the Middle East & Africa, and South America.
North America to dominate the global Electronic Load Market
North America is the biggest market for electronic load. The region has been divided by country into the United States, Canada, and Mexico. The demand for electronic load in this region is mainly driven by applications like aerospace defense & government services, wireless communication, and automotive. Aerospace, defense, and government services are the largest sector in North America during the forecast period as they manufacture technologically advanced aircraft and defense systems. This is further reinforced by increased defense expenditures and budget allocations by national governments. In addition, this region is also home to some of the major manufacturers who continue to focus on R&D in order to innovate on new technologies.
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Competitive Landscape
The prominent players active in the global electronic load market are.
Keysight Technologies (US)
Teledyne Technologies (US)
Ametek (US)
National Instruments (US)
Tektronix (US)
Chroma ATE (Taiwan)
B&K Precision Corporation (US)
NFcorp (Japan)
Matsusada Precision (Japan)
Kikusui Electronics Corporation (Japan)
Hocherl & Hackl GmbH (Germany)
Magna-Power Electronics (US)
Good Will Instrument Co., Ltd. (Taiwan)
Beich Electronics (China), and
Itech Electronic Co. Ltd. (Taiwan).
Many major players like Ametek (US), National Instruments (US), Teledyne Technologies (US), and Keysight Technologies (US), among others, are participating in electronic load development projects. For example, in September 2019, Teledyne Technologies (US) revealed the addition of electronic loads and DC power supplies with new products in T3 portfolio range, providing test equipment that engineers could use to assemble a well-equipped test bench. Such advances are predicted to boost the growth of the global electronic load market during the forecast period.
Summary
The global electronic load market size is projected to hit USD 4.91 billion with a 6.83% CAGR from 2020 to 2026 (forecast period). An electronic loading device is a device that provides a load to the outputs of the power supply and is generally capable of dynamic, frequently programmable, or computer-controlled loading. Electronic loads are available for AC and DC supply testing to assess batteries and power supplies. Most electronic loads are capable of emulating a variety of modes, including constant power, constant voltage, constant current, and constant resistance. The major factors spurring the growth of the global electronic load market are increasing emphasis on consumer electronics manufacturing and increasing the availability of wireless communication. In addition, growing investments in the aerospace & defense industry to build advanced spacecraft further drive the growth of the electronic load market. Nonetheless, the high capital cost of electronic load devices is a limiting factor for the growth of the global electronic load market.
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