ID: MRFR/SEM/8989-HCR | March 2021 | Region: Global | 100 pages
Global Renting & Leasing Test and Measurement Equipment Market is estimated to reach USD 9.43 Billion by 2026, registering a CAGR of 5.4% during the forecast period of 2020–2026.
The renting & leasing test and measurement equipment have wide applications in electronics, laboratories and research institutes, manufacturing analysis, and material analysis. The various devices that are used for testing include spectrum analyzers, oscilloscopes, signal generators, network analyzers, among others. The renting & leasing test and measurement equipment offer high-performance products for the calibration of devices by the semiconductor equipment suppliers. This equipment is widely used for testing plug-in electric vehicles, smart meters, solar panels, wind turbines, sensors, and other products for various industrial applications. The various factors contributing to the high adoption of renting & leasing test and measurement equipment includes rising complexities in the design of consumer electronic devices and the need for high-efficiency test equipment to increase the manufacturing throughput. Furthermore, the growing automotive industry and advancements in cellular infrastructure offer opportunities for the market players. The research study on the global renting & leasing test equipment market provides detailed information on market drivers and restraints, market size, competitive landscape, and growth opportunities. This research report segments the global test and measurement equipment market into the component, product, application. Each of the markets has been further segmented by region/country.
In any product or system development phase, testing and measurement of critical components is considered a crucial part. Since few decades, renting & leasing test and measurement space has seen significant amount of consolidation. The demand for renting & leasing test and measurement equipment from various sectors is rising exponentially. For instance, in the automotive industry, this equipment is used to address trends related to connected cars and autonomous driving. Moreover, as the data centers have moved to higher transmission speeds and new standards, the demand for electronic test equipment, especially high-speed digital test equipment have increased significantly. Furthermore, extensive ongoing research on 5G technologies is fueling the growth of renting & leasing test and measurement equipment market and is expected to continue growing at the same rate over the forecast period.
Global Renting & Leasing Test and Measurement Equipment Market has been segmented based on Product, Component, Application, and Region.
By Product, the market has been segmented into general-purpose test equipment, wireless test equipment, semiconductor test equipment, and RF test chambers. The general-purpose test equipment is further segmented into oscilloscopes, signal generators, analyzers, meters, thermal imagers, bit error ration testers (BERT), and others. The wireless test equipment market is further segmented into logic analyzers, spectrum analyzers, network analyzers, and network simulators.
By Component, the market has been segmented into connectors, cable assemblies, and value-added accessories.
By Application, the market has been segmented into aerospace & defense, healthcare & medical equipment, telecommunication, electronics & semiconductor, industrial & manufacturing, automotive, and others.
By Region, the market has been segmented into North America, Europe, Asia-Pacific, and the rest of the world.
Global Renting & Leasing Test and Measurement Equipment Market, 2018–2026 (USD Billion)
Source: MRFR Analysis
Global Renting & Leasing Test and Measurement Equipment Market is estimated to grow at a significant rate during the forecast period from 2020 to 2026. The geographic analysis of renting & leasing test and measurement equipment market has been conducted for North America (the US, Canada, and Mexico), Europe (the UK, Germany, France, Spain, Italy, and the rest of Europe), Asia-Pacific (China, Japan, India, and the rest of Asia-Pacific), and the rest of the world (the Middle East and Africa and South America). Among these regions, North America has dominated the global market in 2019 and is expected to maintain its dominance throughout the forecast period. On the other hand, the Asia-Pacific region is expected to witness the fastest growth during the forecast period.
MRFR recognizes the Key Players in the Global Renting & Leasing Test and Measurement Equipment Market. These include Transcat Inc, Keysight Technologies, Viavi, Tektronix, General Electric, Rhode & Schwarz, Anritsu Corporation, Exfo Inc, Megger, Bird, Yokogawa Electric, Vanguard, National Instruments, Siemens AG, and Fluke Networks. These players focus on innovation and thus, invest in research and development to present a cost-effective product portfolio. There have been recent mergers and acquisitions among the key players, a strategy the business entities leverage to strengthen their reach to the customers.
|Market Size||USD 9.43 Billion|
|Forecast Units||Value (USD Billion)|
|Report Coverage||Revenue Forecast, Competitive Landscape, Growth Factors, and Trends|
|Segments Covered||Product, Component, Application and Region|
|Geographies Covered||North America, Europe, Asia-Pacific, and Rest of the World (RoW)|
|Key Vendors||Renting & Leasing Test and Measurement Equipment Market. These include Transcat Inc, Keysight Technologies, Viavi, Tektronix, General Electric, Rhode & Schwarz, Anritsu Corporation, Exfo Inc, Megger, Bird, Yokogawa Electric, Vanguard, National Instruments, Siemens AG, and Fluke Networks|
|Key Market Opportunities||Growing automotive industry and advancements in cellular infrastructure|
|Key Market Drivers||Extensive ongoing research on 5G technologies|