Electronic Load Devices Market Trends, Active Key Players, and Growth Projection Up to 2031 | AMR Study

Electronic Load Devices Market Expected to Reach $5.2 Billion by 2031—Allied Market Research

PORTLAND, OREGON, UNITED STATES, March 31, 2023 /EINPresswire.com/ -- An electronic load is a test instrument designed to sink current and absorb power from a power source. Power supplies and electronic loads are complementary test equipment. The power supply tests electronic circuits under specific sourcing conditions. The surge in the development in electronic adoption across the world has led to market growth. The revolution in various fields such as aerospace, defense, government services, automotive, energy, and wireless communication & infrastructure has led to industrialization and urbanization, which have a positive impact on the demand for electronic equipment and electric supply reliability. The instrument used to test AC and DC electronic and electric current is expected to have huge demand during the forecast period. The electronic load devices market size was valued at $3.1 billion in 2021, and the electronic load devices industry is estimated to reach $5.2 billion by 2031, growing at a CAGR of 5.4% from 2022 to 2031.

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The presence of adoption of electronics in various industries such as oil & gas, automobiles, renewable energy, wireless communications and infrastructure, and many other sectors to improve the efficiency in regards to utilization of power without loss. The rising utilization of consumer electronics in the past few years in developing countries such as India and China have led to an increase in the demand for electronic load devices for testing purpose. The increase in awareness among people toward the environment has led to the utilization of alternative power sources in the automotive industry and the utilization of green energy. The presence of a surge in the EV industry after the pandemic has led to an increase in the utilization of battery packs which led to the demand for battery testing equipment. The increase in the investment of the government in renewable energy such as solar and wind have led to increasing in the demand for DC electronic load devices. Furthermore, electrification in developing countries has led to investment in the transmission line and power grid, which led to increased demand for AC electronic load devices market growth during the forecast period.

The electronic load devices market forecast is segmented on the basis of type, voltage, current type, application, and region.

On the basis of type, it is segmented into standalone, modular, and mainframe. On the basis of voltage, the market is divided into low, medium, and high. On the basis of the current type, the market is bifurcated into AC and DC. On the basis of application, the electronic load device market is fragmented into aerospace, defense & government services, automotive, energy, wireless communication & infrastructure, and others.

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Region-wise, the market is studied across North America, Europe, Asia-Pacific, and LAMEA. Presently, North America accounts for the largest electronic load devices market share, followed by Asia-Pacific, and Europe.

The major companies profiled in this report include AMETEK, Ainuo Instrument CO., Ltd, B&K Precision Corporation, Chroma ATE, Chroma Systems Solutions Inc., FDK Corporation, General Electric, Good Will Instrument Co., Itech Electronic Co. Ltd, Keysight Technologies, Kikusui Electronics Corporation, Matsudada Precision, National Instrument, NFCorp, TDK-Lambda Corporation, Tektronix, and Teledyne Technologies. Owing to the increase in the utilization of wireless technology in consumer electronics and the surge in the employment of batteries in portable electronic gadgets have led to the demand for various testing equipment to avoid accidents. Additional growth strategies such as the expansion of production capacities, acquisition, partnership, and research & innovation in detection technologies have led to attaining key developments in the global electronic load devices market trends.

Key findings of the study

- North America would exhibit a CAGR of 4.9% during 2022-2031.
- As per global electronic load devices market analysis, by type, the modular segment accounted for the largest share in 2021.
- By voltage, the low was the leading segment in 2021.
- By current type, the DC segment has the largest market share in 2021.
- By application, wireless communication & infrastructure has the largest market share in 2021.

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Impact of Covid-19 on the Global Electronic Load Devices Market

- The global COVID-19 pandemic has negative impact on the electronic load devices market. This market has experienced lower-than-anticipated demand across all regions compared to pre-pandemic levels. The global market exhibited a decline of about 20% in 2020 compared to 2019.
- COVID-19 negatively impacted the electronic load devices market as it led to a decline in sales turnover. Owing to stringent lockdown restrictions, manufacturing activity got severely affected, which hampered the market growth and profitability. However, during the forecast period, the market is expected to recover due to eased lockdown restrictions in most nations. Furthermore, the major manufacturing giants have launched various products related to consumer electronics which will lead to a surge in the electronic load devices market opportunities after the pandemic.

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