ID: MRFR/E&P/8672-HCR | February 2021 | Region: Global | 111 pages
Electronic Load Market size is projected to reach USD 4.91 Billion by 2026, with 6.83% CAGR between 2020 and 2026.
An electronic load refers to an instrument designed for testing sources by presenting varying resistances and assessing the response. Device manufacturers and design engineers use electronic loads to test power devices such as batteries, power supplies, solar panels, and power converters. The global market of electronic load has experienced considerable growth in recent times owing to an increase in focus on consumer electronics manufacturing and the ability to boost the availability of wireless communications technology. According to the India Brand Equity Foundation (IBEF), India's demand for wearable electronics has surged by 170.3 % in the first quarter of 2021. The solid performance of the electronic manufacturing industry has positively influenced the electronic load market.
The global electronic load market size is expected to reach approximately USD 4.91 billion during the forecasted period. The high application of electronic load in diverse industries such as wireless communication and infrastructure, aerospace, automotive, and many more could contribute to the market's solid performance.
A detailed analysis of the market has been carried out by considering a diverse range of electronic load market trends. The market's drivers, opportunities, challenges, and restraints have been evaluated thoroughly as these elements could influence future market performance. The competitive landscape has also been thoroughly examined in the report.
Covid 19 analysis
The Covid 19 has negatively impacted the electronic load market as it has led to a decline in the sales turnover. Due to stringent lockdown restrictions, the manufacturing activity got severely affected, which hampered the market growth and profitability. However, during the forecasted period, the market is expected to recover due to eased lockdown restrictions in most nations.
Competitive intensity in the industry
The competitive intensity in the global electronic load industry is intense. The rapid advancement of technological innovation has increased the overall attractiveness of the market. In order to capitalize on the market opportunities, several players have entered the market environment, which has led to an increase in competition. Some of the chief market players that have been competing with one another to capture a major portion of the electronic load market share have been listed below:
Several key players have been working on their strategic approaches to survive and sustain in the dynamic market setting. One of the dominant electronic load market trends that have been identified is related to the adoption of new technologies and innovations by business players.
Chief variables existing in the market
The chief market drivers that positively influence the global market include the high emphasis on consumer electronic manufacturing activities and the capacity to boost the availability of existing wireless communication solutions. These market trends could act as catalysts and influence its performance favorably during the forecasted period.
A diverse range of challenges exists in the global market landscape, such as intense competition, changing regulator landscape, and high reliance on technology. These elements could act as major hurdles that could negatively impact the performance of the key players in the market. Furthermore, these challenges could also restrict the profitability of the market at the global level.
Several opportunities exist in the global market. One of the main opportunities revolves around integrating new and improved technology in existing solutions to boost their efficiency. There is also an opportunity for the key players in the market to invest in their research and development function to differentiate their business offerings based on performance, functionality, and quality.
A number of restraining factors exist that limit the ability of the market participants to capitalize on the business opportunities in the global market. One of the chief restraints is the high capital requirement to produce electronic load devices. Another major restraint is the lack of technical expertise and skills to adapt to the evolving digitalized market setting. These are some of the main market trends that could negatively impact its performance and growth potential during the forecasted period.
Cumulative evaluation of the market
The global electronic load market has been evaluated in-depth, and its future growth potential has been determined. Various factors have been taken into account to evaluate its attractiveness. One of the chief market variables that could positively influence its performance includes the high application of electronic loads in various industries and sectors. However, various market elements could hamper the market growth, such as the high cost associated with the production of electronic load devices.
Overview of the main market segments
Based on voltage, the global market can be segmented into low and high. During the forecasted period, the low segment is likely to witness growth. One of the main factors that are likely to work in favor of the specific market segment is a surge in demand for testing and measuring equipment at the early development stage. As such testing helps avoid preventable malfunctioning at a later stage, its demand is expected to rise during the forecasted period.
Based on application, the global market can be categorized into diverse aerospace, defense, and government services, automotive, energy, wireless communication, infrastructure, and others. The wireless communication and infrastructure segment is expected to influence the global electronic load market growth during the forecasted period. Wireless infrastructure acts as the backbone of communication, and it has a direct impact on the economic health of a nation. Due to its high demand across diverse industries and sectors, it has dominated the market. In the future, its high demand is expected to accelerate its performance at the global level.
Based on the current type, the global market can be divided into alternating current (AC) and direct current (DC). The DC market segment is expected to significantly contribute to the expansion of the market size. The demand for the DC segment is high across the global market due to favorable factors such as the high application for testing power equipment such as inverter testing, power converter, solar panels, etc. In the future, the rising demand for the DC segment could influence the global market performance.
The global electronic load market can be segmented into diverse geographical divisions such as North America, Europe, the Asia Pacific, the Middle East, Africa, and South America. At present, the North American segment has been dominating the electronic load industry. Some of the chief factors that influenced the performance of the market include the low cost of production in nations such as China and India. However, during the forecasted period, the Asia Pacific regional segment is expected to capture a major portion of the global market share. The contribution of the North American region is also likely to play a critical role in influencing market performance in the future.
Recent market developments
A critical evaluation of the industry and the underlying factors has been carried out in the global market report. Several strategic tools have uncovered the market variables that could influence the global market growth during the forecasted period. Some of the chief tools that have increased the richness of the market analysis include Porter's Five Force analysis, SWOT analysis, and PESTLE analysis. The strategic approach adopted by the key players has been evaluated in detail as these factors could impact the global market size in the future.
Key Industrial segments
By Current Type
|Market Size||2026: USD 4.91 Billion|
|CAGR||6.83% CAGR (2020-2027)|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Voltage, Application and Current Type|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||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||The Increasing focus on consumer electronics manufacture and boosting the availability of wireless communication|
|Key Market Drivers||Availability of wireless communication and increasing focus on consumer electronic goods|
Frequently Asked Questions (FAQ) :
The global electronic load market size is estimated to reach USD 4.91 billion by 2027
The global electronic load market can expand at 6.83% CAGR from 2020 to 2027
Availability of wireless communication and increasing focus on consumer electronic goods are major drivers of the global electronic load market.
Large amount of capital as investment can restrain the global electronic load market growth.
Wireless communication and infrastructure can net huge revenues for the global electronic load market.
North America holds the largest share of the global electronic load market.