Electronic Load Market Overview:
The global electronic load market size is expected to grow from an estimated revenue of USD 3.0 billion in 2019 to USD 4.0 billion by 2024, at a CAGR of 6.3% during the forecast period. The growth of this market is driven by the increasing demand for testing electronics components that are used in wireless communication and infrastructure for providing reliability in communication.
Key Market Players
The global electronic load market is dominated by both global and regional players, such as Keysight Technologies (US), AMETEK (US), National Instrument (US), Chroma ATE (Taiwan), and Teledyne Technologies (US). The major strategies adopted by the players include new product development, investments & expansions, and partnerships.
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This research report categorizes the electronic load market by voltage, current type, application, and region.
By Voltage:
- High Voltage
- Low Voltage
By Application:
- Aerospace, Defense & Government Services
- Automotive
- Energy
- Wireless Communications & Infrastructure
- Others
By Current Type:
- AC
- DC
By Region:
- North America
- South America
- Europe
- Asia Pacific
- Middle East & Africa
DC electronic loads are used for testing a wide range of power devices, such as power supplies, power converter & inverter testing, batteries, automotive charging stations, solar panels, fuel cells, and other power electronics components. This segment is expected to hold the major share in 2019 owing to the increasing need for testing the reliability of batteries. Asia Pacific is expected to be the largest market during the forecast period due to the increase in the deployment of electric vehicles in countries such as China, Japan, and South Korea. All these factors are expected to boost the DC market growth.
North America is expected to dominate the global electronic load market
North America is the largest market for the electronic load. The region has been segmented by country into the US, Canada, and Mexico. The demand for electronic load in this region is driven mostly by aerospace, defense and government services, wireless communication, and automotive. It is the largest market for electronic load during the forecast as the device manufacturers use electronic loads to test numerous power devices during the manufacturing stage to avoid malfunctioning. The aerospace, defense & government services is the largest sector globally as they produce technologically advanced aircraft and defense systems. This is supported further by the national governments’ increasing defense spending and budget allocations. Moreover, this region also houses some of the major manufacturers who continuously focus on R&D to innovate new technologies.
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Report Objectives
- To define, describe, and forecast the electronic load market based on voltage, current type, application, and region
- To provide detailed information regarding the major factors influencing the growth of the electronic load market (drivers, restraints, opportunities, and industry-specific challenges)
- To strategically analyze the market with respect to individual growth trends, prospects, and contributions of each segment to the market
- To analyze market opportunities for stakeholders and provide details of the competitive landscape for market leaders
- To forecast the revenue of the market segments with respect to five main regions (along with countries), namely, North America, South America, Asia Pacific, Europe, and Middle East & Africa.
- To strategically profile key players and comprehensively analyze their market ranking and core competencies
- To track and analyze competitive developments such as contracts & agreements, investments & expansions, new product developments, and partnerships in the electronic load market
