Electronic Load Market Size was valued at USD 3.9 Billion in 2022. The electronic load market industry is projected to grow from USD 4.1 Billion in 2023 to USD 7.05 Billion by 2032, exhibiting a compound annual growth rate (CAGR) of 6.80% during the forecast period (2023 - 2032). Increases in the use of various portable electronic devices, as well as an increase in the use of converters in the renewable energy sector are the key market drivers enhancing the market growth.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
The increasing investments in wireless communications and infrastructure are driving the market CAGR for electronic loads, which would speed up the testing of power supplies and wireless networks to assure the effective operation of electronic components. The demand for smartphones and mobile phones is rising, particularly in emerging countries, which has accelerated the development of wireless infrastructure. Batteries are necessary for mobile phones to operate as well, and they must be accurately tested to prevent mishaps.
Even government, military, and aerospace organizations use wireless communication tools to stay in touch even in far-off places. Due to the rising reliance on wireless communications in all areas of operation, it is crucial to guarantee the effective operation of every component. Therefore, during the anticipated period, increasing investments in wireless communications and infrastructure would drive the demand for electronic load
The main reasons behind the production of renewable energy are the rising environmental consciousness among people and the requirement to lower carbon emissions. Governments have built enormous facilities all over the world to produce electricity from hydro, solar, wind, and tidal resources as a result of the rise of the renewable energy sector. The fact that renewable energy sources demand comparatively less capital than oil and gas can also be credited with the rising share of electricity generation using these sources.
According to the International Renewable Energy Agency's Renewable Capacity Statistics 2021, the world's total renewable capacity increased by 10.3% in 2020 to 2799094 MW. Renewable energy must first be stored in batteries before it can be used. This aspect is expected to fuel electronic load market revenue throughout the forecast period.
The electronic load market segmentation, based on voltage includes low, high. The low segment dominated the market in 2022 and is likely to continue to do so throughout the forecast period. The increased demand for testing and measurement equipment throughout the early phases of development to minimize malfunctions later on is propelling the expansion of this market.
The electronic load market segmentation, based on application, includes aerospace, defense, and government services, automotive, energy, wireless communication and infrastructure and others. The automotive category is the largest application category in electronic market. Automotive manufacturers and suppliers actively use programmable electronic loads to test and validate a wide range of electronic components, including batteries, power electronics, and engine control modules, among others. With the growing demand for electric and hybrid vehicles, the demand for programmable electronic loads in the automotive sector is likely to rise even higher.
The electronic load market segmentation, based on current type, includes AC and DC. In 2022, the DC category held the largest market share and is predicted to remain the fastest-growing current type during the forecast period. During the projection period, the segment's growth will be driven by the widespread usage of DC electronic loads for testing power devices such as power converters and inverter testing, power supplies, batteries, automotive charging stations, solar panels, fuel-cells, and other power electronic components.
In September 2020:Â The Keysight EL30000 Series bench DC electronic loads were announced by Keysight Technologies, Inc., a developing technology firm that helps corporations, service providers, and governments accelerate innovation to connect and safeguard the world. These instruments, which have a precise system that detects voltage and current and calculates power, reduce the need for additional instruments and have a tiny bench form factor with a built-in data recorder that provides insights for quick, real-time decisions.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American electronic load market area will dominate this market, owing to the widespread use of intelligent electronics and electrical. The increased awareness of the benefits of using environmentally friendly electric vehicles will help propel the industry.
Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.
Source: Secondary Research, Primary Research, MRFR Database and Analyst Review
Europe electronic load market accounts for the second-largest market share due to the high rate of utilization of electronic products. Further, the German electronic load market held the largest market share, and the UK electronic load market was the fastest growing market in the European region
The Asia-Pacific Electronic Load Market is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the increased electrification and the rapid rise in electronics adoption. Moreover, China’s electronic load market held the largest market share, and the Indian electronic load market was the fastest-growing market in the Asia-Pacific region.
Leading market players are extensively spending in research and development in order to extend their product lines, which will help the electronic load market grow even more. Market participants are also engaging in a number of strategic initiatives to grow their worldwide footprint, with significant market developments including new product launches, contractual agreements, mergers and acquisitions, increased investments, and collaboration with other organisations. To expand and survive in a more competitive and expanding market climate, the electronic load industry must provide cost-effective products.
Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the electronic load industry to benefit clients and increase the market sector. In recent years, the electronic load industry has offered some of the most significant advantages to medicine. Major players in the electronic load market, including NFcorp (Japan), Kikusui Electronics Corporation (Japan), Hocherl & Hackl GmbH (Germany), Matsusada Precision (Japan), Magna-Power Electronics (US), Beich Electronics (China) and others, are attempting to increase market demand by investing in R&D operations.
Keysight Technologies, or Keysight, is an American manufacturer of electrical test and measurement equipment as well as software. The term is a combination of key and insight. The company was founded as a spin-off of Agilent Technologies, which inherited and renamed the test and measurement product lines developed and produced by Hewlett-Packard's Test & Measurement division from the late 1960s until the turn of the millennium. With $300 million in instrumentation software revenue, Keysight won the 2014 Frost & Sullivan award for market leadership. According to the source, R&D investment of 12% of turnover ($365 million in 2013) is a major element. In May 2021, Keysight Technologies announced the expansion of its PathWave Advanced Design System (ADS) electronic design automation software to support the latest 5G and Wi-Fi 6E technologies.
Tektronix, Inc., commonly abbreviated as Tek, is an American corporation best known for producing test and measurement instruments such as oscilloscopes, logic analysers, and video and mobile test protocol equipment. Originally a stand-alone corporation, it is currently a subsidiary of Fortive, a Danaher Corporation spinoff. Tektronix is or was involved with several organisations, including the Tektronix Foundation and the M.J. Murdock Charitable Trust in Vancouver, Washington. In September 2021, Tektronix announced the AFG31000 Arbitrary/Function Generator Series, which provides built-in waveform production and arbitrary waveform editing capabilities to serve sophisticated power electronics applications.
In June 2021: Chroma ATE has announced the release of their new 61800D Series programmable lighting.
In April 2021: EA.Elektro-Automatik created the EA-ELR 10000 regenerative electronic load, which allows safe and sustainable processing of discarded batteries with a 96% regeneration efficiency. The EA-ELR 10000 series has a peak power density of 30 kW in 4U and can achieve up to 1.92 MW in rack systems. Consumers may quickly remove significant amounts of residual charge from batteries and feed it back into the grid, saving operating costs, conserving the environment, and lowering heat generation.
In March 2021: Prof Rajagopal Veeramalla, a professor of Electrical and Electronics Engineering at Kakatiya Institute of Technology and Science in Warangal, was granted a patent for "A Hydropower System for 20 ears in accordance with the provisions of the Patents Act-1970." He developed a decoupled electronic load for hydropower systems using a conductance algorithm, which decouples the active and reactive power. This prevents the generator from de-rating and increases the machine's life.
| Report Attribute/Metric | Details |
| Market Size2022 | USD 3.9 Billion |
| Market Size 2023 | USD 4.1 Billion |
| Market Size2032 | USD 7.05 Billion |
| Compound Annual Growth Rate (CAGR) | 6.80% (2023-2032) |
| Base Year | 2022 |
| Market Forecast Period | 2023-2032 |
| Historical Data | 2018- 2022 |
| Market Forecast Units | Value (USD Billion) |
| Report Coverage | Revenue Forecast, Market Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Voltage, Application, Current type, and Region |
| Geographies Covered | North America, Europe, Asia Pacific, and the Rest of the World |
| Countries Covered | The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil |
| Key Companies Profiled | Keysight Technologies (US), Ametek (US), National Instruments (US), Chroma ATE (Taiwan), Teledyne Technologies (US), B&K Precision Corporation (US), Tektronix (US), Good Will Instrument Co., Ltd. (Taiwan), NFcorp (Japan), Kikusui Electronics Corporation (Japan), Hocherl & Hackl GmbH (Germany), Matsusada Precision (Japan), Magna-Power Electronics (US), Beich Electronics (China), and Itech Electronic Co. Ltd. (Taiwan). |
| Key Market Opportunities | · Consumer electronics are becoming increasingly important. |
| Key Market Dynamics | · Wireless communication is available. |
Frequently Asked Questions (FAQ) :
The electronic load market size was valued at USD 3.9 Billion in 2022.
The market is projected to grow at a CAGR of 6.80% during the forecast period, 2023-2032.
North America had the largest share in the market
The key players in the market are NFcorp (Japan), Kikusui Electronics Corporation (Japan), Hocherl & Hackl GmbH (Germany), Matsusada Precision (Japan), Magna-Power Electronics (US), Beich Electronics (China).
The low voltage category dominated the market in 2022.
The DC category had the largest share in the market.
Senior Research Analyst With an experience of over five years in market research industry (chemicals & materials domain), i gather and analyze market data from diverse sources to produce results, which are then presented back to a client. also, provide recommendations based on the findings. as a senior research analyst, i perform quality checks (qc) for market estimations, qc for reports, and handle queries and work extensively on client customizations. also, handle the responsibilities of client proposals, report planning, report finalization, and execution
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