India Renting Leasing Test Measurement Equipment Market Research Report By Product (General Purpose Test Equipment, Wireless Test Equipment, Semiconductor Test Equipment, RF Test Chambers), By Component (Connectors, Cable Assemblies, Value Added Accessories) and By Application (Aerospace & Defense, Healthcare & Medical Equipment, Telecommunication, Electronics & Semiconductor, Industrial & Manufacturing, Automotive, Others)-Forecast to 2035

India Renting Leasing Test Measurement Equipment Market Overview

India Renting Leasing Test Measurement Equipment Market Size was estimated at 364 (USD Million) in 2024. The India Renting Leasing Test Measurement Equipment Market Industry is expected to grow from 383.66 (USD Million) in 2025 to 645.31 (USD Million) by 2035. The India Renting Leasing Test Measurement Equipment Market CAGR (growth rate) is expected to be around 4.841% during the forecast period (2025 - 2035).

Key India Renting Leasing Test Measurement Equipment Market Trends Highlighted

The India Renting Leasing Test Measurement Equipment Market is witnessing a notable shift as industries increasingly prioritize cost-effectiveness and flexibility in their operational strategies.

An essential market driver includes the rapid growth of sectors such as electronics, telecommunications, and automotive manufacturing in India. These sectors are adopting advanced testing equipment to maintain quality and precision, prompting a rise in demand for rental and leasing options.

Furthermore, the government’s initiative to promote 'Make in India' is creating more opportunities for local manufacturers to supply test measurement equipment, thereby boosting the leasing market as firms seek to minimize capital expenditures.

Recent times have seen trends towards enhanced digitalization and technology adoption, which are transforming the testing processes across various sectors. Innovations like cloud-based data sharing and real-time monitoring are increasingly being integrated into test measurement solutions, making them more accessible and reliable for businesses in India.

Additionally, the rise of start-ups focused on technology solutions is contributing to the diversification of the market, enhancing the availability of specialized testing equipment for lease. Opportunity remains for rental service providers to expand into tier-2 and tier-3 cities, where industrial growth is accelerating.

As small and medium enterprises in these regions seek to minimize investment risk while still accessing advanced technology, the leasing model becomes an attractive proposition. Thus, the dynamics in the India Renting Leasing Test Measurement Equipment Market reflect a movement toward embracing innovative solutions while catering to the evolving needs of diverse industries across the nation.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

India Renting Leasing Test Measurement Equipment Market Drivers

Increased Adoption of Advanced Technologies

In recent years, India has seen a significant surge in the adoption of advanced technologies such as Artificial Intelligence (AI), Internet of Things (IoT), and Automation across various industries.

As per the Ministry of Electronics and Information Technology, India aims to increase the share of electronics manufacturing in its GDP to 25% by 2025. This has necessitated the need for sophisticated test and measurement equipment to verify and validate technological advancements.

Entities, such as Bharat Electronics Limited and Tata Advanced Systems, have begun allocating funds towards R&D to develop competencies in this area, thereby increasing the need for renting and leasing test measurement equipment.

In such a highly innovative environment need for rapid prototyping and testing is a major factor supporting the growth of the India Renting Leasing Test Measurement Equipment Market Industry.

Growing Need for Compliance and Quality Assurance

With increasing regulatory frameworks and stringent quality standards, Indian industries are under pressure to comply with various standards such as ISO, ASTM, and BIS. The Bureau of Indian Standards has reported an increase in the number of industries seeking certifications, leading to a greater necessity for testing equipment to ensure compliance.

This heightened focus on product quality and safety is driving organizations to leverage renting and leasing models for test measurement equipment as they seek high-end instruments without the burden of ownership costs.

Additionally, sectors such as Pharmaceuticals and Aerospace are particularly impacted by these regulations, further fueling growth in the India Renting Leasing Test Measurement Equipment Market Industry.

Surge in Startups and Entrepreneurship

India has emerged as one of the world's largest startup ecosystems, with over 50,000 startups reported as of 2023, according to the Startup India initiative. Startups in various fields such as FinTech, CleanTech, and HealthTech, often require cutting-edge technology to test and refine their products.

Many of these startups opt for renting and leasing test measurement equipment as a cost-effective strategy to reduce capital expenditure. Major players like Qualcomm and Intel have established innovation centers in India, which not only provide financial backing but also access to advanced testing facilities, consequently enhancing the demand for rented and leased equipment in the India Renting Leasing Test Measurement Equipment Market Industry.

India Renting Leasing Test Measurement Equipment Market Segment Insights

Renting Leasing Test Measurement Equipment Market Product Insights

The India Renting Leasing Test Measurement Equipment Market within the Product segment showcases a comprehensive range of applications catering to various industry needs.

This segment plays a pivotal role in fostering technological advancement and enhancing the operational efficiency of various sectors, particularly in the realm of electronic and semiconductor industries, which have seen substantial growth in recent years driven by the rise in demand for consumer electronics and automation solutions.

General Purpose Test Equipment represents a fundamental category, providing essential testing capabilities to ensure desired performance standards are met across different devices, which is crucial for maintaining quality and compliance in manufacturing environments.

Wireless Test Equipment has gained significant traction as the nation pushes towards enhancing its telecommunications infrastructure and expanding 5G deployments.

This type of equipment supports critical testing functions, which are essential for verifying the performance of Wireless technologies, thereby ensuring reliable connectivity and high data transfer rates essential for modern applications such as IoT and smart cities.

Semiconductor Test Equipment also plays an equally important role, serving a dynamic market that is projected to expand due to increasing investments in semiconductor fabrication facilities in India, which is designed to accommodate the surging demand for integrated circuits in various electronics applications.

Moreover, RF Test Chambers are becoming increasingly significant in the context of growing applications across consumer electronics, communication technologies, and automotive sectors, indicating a shift towards more intricate testing requirements that ensure optimal performance in real-world conditions.

These chambers facilitate precise testing of RF devices under controlled conditions, ensuring that products meet specified regulatory and performance standards prior to market release.

Collectively, these diverse product categories within the India Renting Leasing Test Measurement Equipment Market not only play a crucial role in supporting technological innovation but also enhance the operational capabilities of firms across numerous verticals.

The continuous evolution in technology is expected to propel these segments further, presenting various growth opportunities for entities involved in the renting and leasing of such Test Measurement Equipment in India.

The rise in the demand for high-quality testing solutions, coupled with the need for agile responses to technological advancements, is propelling the product landscape forward. Industry players are increasingly investing in advanced technologies and leasing models to meet the requirements of businesses looking to reduce capital expenditure while enhancing their operational capabilities.

As India continues to position itself as a global tech hub, the significance of these product offerings within the Renting Leasing Test Measurement Equipment Market cannot be overstated as they contribute to India's growing technological ecosystem.

Consequently, this segment is set to reflect a dynamic landscape as it adapts to meet changing consumer needs and emerging technological trends in the coming years.

Source: Primary Research, Secondary Research, MRFR Database and Analyst Review

Renting Leasing Test Measurement Equipment Market Component Insights

The Component segment of the India Renting Leasing Test Measurement Equipment Market highlights significant growth trends, reflecting the evolving landscape of testing and measurement practices across various industries.

Within this segment, Connectors, Cable Assemblies, and Value Added Accessories play crucial roles in ensuring seamless operation and integration of measurement equipment. Connectors are vital for establishing reliable electrical connections, impacting overall equipment performance, while Cable Assemblies facilitate efficient signal and power transmission.

Value Added Accessories enhance equipment functionality, offering features such as protection and customization that cater to specific operational demands. The continuous advancements in technology, aligned with industry requirements for precision and efficiency, propel the growth of these components in the Indian market.

Moreover, the increasing emphasis on quality assurance and compliance across sectors further drives the demand for high-performance test measurement equipment, highlighting the importance of these components for innovation and research initiatives in India.

The country's pursuits in expanding its industrial capabilities complement overall market progress, fostering opportunities for development in the Component segment.

Renting Leasing Test Measurement Equipment Market Application Insights

The India Renting Leasing Test Measurement Equipment Market is structured around various applications that play crucial roles in different industries. In the Aerospace and Defense sector, the need for precise testing equipment significantly contributes to national security and advanced technology development, ensuring operational readiness and safety.

Within Healthcare and Medical Equipment, the demand for testing devices is driven by the push for high-quality care and innovation in medical technologies, reflecting the growth in India's healthcare sector.

The Telecommunication segment benefits from the rise of digital communication and 5G technologies, prompting the need for reliable testing solutions to meet stringent regulatory standards.

In the Electronics and Semiconductor industry, the requirement for accurate measurement tools supports both product development and quality assurance, emphasizing the importance of precision in manufacturing processes. The Industrial and Manufacturing sector relies on testing equipment to enhance production efficiency and meet strict compliance as India continues to industrialize.

The Automotive sector sees growth in testing demand due to increasing vehicle complexity and safety regulations. Lastly, the Others category captures emerging applications across various new industries, demonstrating the versatility and relevance of renting and leasing test measurement equipment across India's expanding market landscape.

India Renting Leasing Test Measurement Equipment Market Key Players and Competitive Insights

The competitive landscape of the India Renting Leasing Test Measurement Equipment Market reveals a dynamic environment characterized by diverse players catering to various industrial needs.

This market has seen significant growth due to the increasing demand for accurate testing and measurement solutions across sectors such as telecommunications, electronics, automotive, and aerospace.

The trend of renting and leasing equipment rather than outright purchasing is gaining traction as companies seek to reduce capital expenditures and mitigate risks associated with technological obsolescence.

As the market expands, a multitude of firms are vying for a share, each offering unique capabilities and innovative solutions to meet the evolving demands of customers.Chroma ATE stands out in the India Renting Leasing Test Measurement Equipment Market due to its strong presence and reputation for high-quality products. The company is recognized for its comprehensive range of testing and measurement solutions, including automatic test equipment, power electronics test systems, and environmental reliability test chambers.

Chroma ATE has established a robust customer base across various sectors, ensuring that their testing solutions are catered to specific industry needs. The company's commitment to innovation and quality has strengthened its market position in India, where it continually invests in research and development to enhance its offerings.

This focus allows Chroma ATE to maintain a competitive edge, providing customers with reliable and advanced technologies that support their operational efficiency and product reliability.Anritsu is another key player in the India Renting Leasing Test Measurement Equipment Market, renowned for its expertise in telecommunications testing solutions.

The company offers a wide array of products and services, including signal analyzers, network testers, and field solutions, which are essential for validating the performance of network systems and devices.

Anritsu's market presence in India is bolstered by its strategic partnerships and alliances that facilitate a more extensive product reach and customer engagement. In addition, Anritsu has pursued various mergers and acquisitions to expand its capabilities and enhance its service offerings specifically for the Indian market.

Their strengths lie in delivering high-performance test systems that cater to the growing demands of advanced technology markets, combined with personalized customer service and support. This strong alignment with industry needs positions Anritsu as a crucial player in the India renting leasing landscape, allowing it to effectively address the unique requirements of local customers while keeping pace with the rapid technological advancements in the industry.

Key Companies in the India Renting Leasing Test Measurement Equipment Market Include

• Chroma ATE


• Anritsu


• Wavestream Corporation


• Ixia


• National Instruments


• Fluke Corporation


• Exfo


• Tektronix


• Calnex Solutions


• Gaia Converter


• Agilent Technologies


• Siemens


• Keysight Technologies


• Rohde & Schwarz


• Murata Manufacturing

India Renting Leasing Test Measurement Equipment Industry Developments

The India Renting Leasing Test Measurement Equipment Market has seen several noteworthy developments in 2023, particularly in June when National Instruments announced an expansion of its offerings tailored to meet the needs of the burgeoning electric vehicle sector, reflecting the country's commitment to sustainable technology.

Chroma ATE has strengthened its presence by launching a new range of compact test solutions in May aimed at supporting the semiconductor industry in India.

In terms of market growth, reports indicate that the market valuation for test and measurement equipment has surged owing to the rapid adoption of advanced technologies such as 5G and IoT applications, leading various companies like Keysight Technologies and Rohde & Schwarz to explore collaborative projects with Indian tech startups.

In regard to mergers and acquisitions, Wavestream Corporation acquired a strategic interest in a local firm in February, enhancing its distribution capabilities in India.

Additionally, Fluke Corporation has established a new service center to cater to the growing demand for calibration and maintenance services, highlighting the market's expanding footprint. The landscape remains dynamic with continuous innovations and a robust inclination towards leasing models, making it an attractive segment for future investments.

India Renting Leasing Test Measurement Equipment Market Segmentation Insights

Renting Leasing Test Measurement Equipment Market Product Outlook

• General Purpose Test Equipment


• Wireless Test Equipment


• Semiconductor Test Equipment


• RF Test Chambers

Renting Leasing Test Measurement Equipment Market Component Outlook

• Connectors


• Cable Assemblies


• Value Added Accessories

Renting Leasing Test Measurement Equipment Market Application Outlook

• Aerospace & Defense


• Healthcare & Medical Equipment


• Telecommunication


• Electronics & Semiconductor


• Industrial & Manufacturing


• Automotive


• Others

Report Attribute/Metric Source:	Details
MARKET SIZE 2023	364.0 (USD Million)
MARKET SIZE 2024	383.66 (USD Million)
MARKET SIZE 2035	645.31 (USD Million)
COMPOUND ANNUAL GROWTH RATE (CAGR)	4.841% (2025 - 2035)
REPORT COVERAGE	Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
BASE YEAR	2024
MARKET FORECAST PERIOD	2025 - 2035
HISTORICAL DATA	2019 - 2024
MARKET FORECAST UNITS	USD Million
KEY COMPANIES PROFILED	Chroma ATE, Anritsu, Wavestream Corporation, Ixia, National Instruments, Fluke Corporation, Exfo, Tektronix, Calnex Solutions, Gaia Converter, Agilent Technologies, Siemens, Keysight Technologies, Rohde & Schwarz, Murata Manufacturing
SEGMENTS COVERED	Product, Component, Application
KEY MARKET OPPORTUNITIES	Increased demand for flexible solutions, Rapid growth in manufacturing sector, Expansion of IT and telecommunications, Rising adoption of R&D activities, Emphasis on cost-effective testing solutions
KEY MARKET DYNAMICS	growing demand for cost efficiency, increasing focus on innovation, rise in technological advancements, expanding SMEs in India, preference for flexible leasing options
COUNTRIES COVERED	India