Fuel Cells Market Outlook 2020 – Huge Growth, Trends, Revenue And In-Depth Analysis 2025

The global fuel cells market with focus on advcens in fuel cell technology market size is expected to grow from estimated revenue of USD 263 million in 2020 to USD 848 million by 2025, at a CAGR of 26.4% during the forecast period. The market has been analysed with key focus on advancements in fuel cell technologies such as PEMFC, PAFC, AFC, and MFC. The growing demand for clean power generation in developed regions and the increased use of fuel cell-powered vehicles are some of the factors driving the growth of the  in fuel cell technology industry. 

Asia Pacific is estimated to be the largest market during the forecast period. Increasing emphasis on fuel cell-powered vehicles and electricity generation, coupled with numerous contracts and agreements for developing low-cost fuel cells, are driving the growth of the Asia Pacific in fuel cells market.

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In the fuel cells market, the key focus on advances in fuel cell technology is segmented by type, into Proton Exchange Membrane Fuel Cell (PEMFC), Phosphoric Acid Fuel Cell (PAFC), Alkaline Fuel Cell (AFC), and Microbial Fuel Cell (MFC). The PEMFC segment is accounted for the major share of the market in 2019. This growth can be attributed to the increasing need for fuel cell-powered vehicles ranging from small passenger cars to heavy-duty trucks to minimize the carbon emissions from them, specifically in regions such as Asia Pacific and Europe. Collectively, all these factors offer lucrative business opportunities in the intelligent  in Fuel Cell Technology segment.

This research report categorizes the Fuel Cells Market based on type, application, End user and region

Based on Type, the market has been segmented as follows:

• PEMFC
• PAFC
• AFC
• MFC

Based on Application, the market has been segmented as follows:

• Portable
• Stationary
• Transport

Based on End User, the market has been segmented as follows:

• Fuel Cell Vehicles
• Utilities
• Defense

Based on Region, the market has been segmented as follows:

• North America
• Asia Pacific
• Europe
• Rest of World

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By application, the market is segmented into transport, portable, and stationary. The transport segment is expected to be the largest and fastest-growing market. Transport  in fuel cell technology mainly include fuel cell cars, heavy-duty vehicles such as trucks, buses, trains, unmanned ariel vehicles (UAVs) for commercial usage, and marine vehicles such as vessels and boats powered by fuel cells. The increasing use of  in Fuel Cell Technology is these industries is likely to drive the transport  in Fuel Cell Technology market.

The fuel cells market, based on end-user, have been categorized into fuel cell vehicles, utilities, and defense. Utilities and defense segments are divided further into primary power generation and back-up power, and for powering communication equipment during remote military operations, respectively. The fuel cell vehicles segment is expected to be the fastest-growing  in fuel cells market, by end-user, during the forecast period. The growth of the segment is influenced by the increasing focus on fuel cell-powered vehicles. This is expected to create new revenue pockets for the in fuel cell technology industry during the forecast period.

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MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

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Electric Fuse Market Expected to Witness the Highest Growth during 2021-2026

According to the new market research report "Electric Fuse Market by Type (Power Fuse & Fuse Link, Distribution Cutouts, Cartridge & Plug Fuse,), Voltage (Low, Medium), End-Users (Utilities, Industrial, Residential, Commercial, Transportation), region - Global Forecast to 2026", published by MarketsandMarkets™, the Electric Fuse Market is projected to reach USD 4.6 billion by 2026 from an estimated USD 3.5 billion in 2021, at a CAGR of 5.8%. This growth can be attributed to the growing investments in the renewable and energy storage, increasing investments in T&D infrastructure plans, and revival of investments in the construction sector.

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The medium voltage segment is expected to hold the largest share of the Electric Fuse Market, by voltage, during the forecast period.

The medium voltage segment is estimated to dominate the Electric Fuse Market in 2018 and is projected to have the largest market share during the forecast period. The medium voltage range for fuses is defined as fuses with the capacity to open circuit at voltage range above 1 kV to 38 kV. The high demand for medium voltage fuse is due to the continuous construction of transmission and distribution network along with the high replaceability of fuses. The major end uses of medium voltage fuses are for electric utilities, transformers & substations, distribution networks, and heavy industries such as oil & gas industry. The medium voltage fuses are mostly the power fuses used for current limiting function, motor circuit protection, and back up for protection from default current.

Browse in-depth TOC on "Electric Fuse Market"

116 – Tables
35 – Figures
146 – Pages

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The transportation segment is expected to be the second fastest growing segment of the Electric Fuse Market, by end-use, during the forecast period.

The transportation segment accounted for the second highest CAGR during the forecast period. The demand for electric fuses is driven by the high growth and developments in the global railway industry. Furthermore, the fast commercialization of electric trains and metros from the developing nations is driving the demand for electric fuses from tractions. Furthermore, the concepts of high-speed trains, freight wagons, bullet trains will create opportunities for electric fuses in the near future.

Asia Pacific: The largest market for electric fuse.

In this report, the Electric Fuse Market has been analyzed with respect to 5 regions, namely, North America, South America, Europe, Asia Pacific, and the Middle East & Africa. Asia Pacific is estimated to dominate the global Electric Fuse Market in 2018 owing to the development and growth of countries such as China, Japan, Australia, and India, where there is a huge requirement for power and infrastructural development due to growing population and urbanization. The transportation infrastructure in the region is at the verge of getting electrified. This also creates opportunities for electric fuses in the Asia Pacific railway and traction segment. Furthermore, the region is the largest consumer of solar energy, and countries such as India and China are driving the renewable energy market. For instance, India has set goals for generating 175 GW of electricity through renewables by 2022. Such factors are likely to drive the Asia Pacific Electric Fuse Market.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the Electric Fuse Market. Some of the key players are Schneider Electric (France), Siemens (Germany), Mersen (France), ABB (Switzerland), Eaton (Ireland), Bel Fuse Inc. (US), Littelfuse (US), Legrand (France), S&C Electric Company (US), and Hubbell (US). The leading players are adopting various strategies to increase their shares in the Electric Fuse Market.

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About MarketsandMarkets™
MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies' revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets's flagship competitive intelligence and market research platform, "Knowledge Store" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
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Ultrasonic Flow Meter Market – Evolving Industry Trends and key Insights

The ultrasonic flow meter market is projected to reach USD 2.1 billion by 2024 from an estimated USD 1.5 billion in 2019, at a CAGR of 6.5%. The growth of this market is driven with the increase in imports of crude oil in India, rise in shale gas exploration activities in the US, and increasing green field investments in China.

The clamp-on segment, by implementation, is expected to be the largest market during the forecast period.

The clamp-on segment, by implementation, is estimated to be the largest market during the forecast period. Clamp-on ultrasonic flow meter measures the flow without any interruption in the process and the flow rate under challenging environmental areas like toxic and hazardous conditions inside the pipe, which is expected to drive its demand in the ultrasonic flow meter market which is expected to drive its demand in the ultrasonic flow meter market.

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The transit-time segment is expected to be the fastest growing segment of the ultrasonic flow meter, by measurement technology, during the forecast period.

The transit-time segment is expected to hold the largest market share during the forecast period because of its bi-directional and precise flow measurement advantages. This technology can be utilized for both natural gas and petroleum liquid. This technology comprises 80–85% of the market share globally. Oil & gas and water & wastewater industry demands precise flow measurement technologies in their process, which is driving the transit-time segment. Hybrid is an upcoming technology with the second largest market share in the ultrasonic flow meter market. This technology is the combination of both the transit-time & doppler. This technology is mainly used by the water & wastewater industry.

Report Objectives

• To define, describe, and forecast the market by implementation type, measurement technology, number of paths, end-user, and region
• To provide detailed information on the major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the market with respect to individual growth trends, prospects, and contribution of each segment to the market
• To analyze the market opportunities for stakeholders and details of the competitive landscape for market leaders
• To forecast the growth of the market with respect to the regions (Asia Pacific, Europe, North America, South America, and the Middle East & Africa)
• To strategically profile key players and comprehensively analyze their market rankings and core competencies
• To track and analyze the competitive developments such as contracts & agreements, expansions, new product developments, mergers & acquisitions, and partnerships in the market.

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Asia Pacific: The leading market for ultrasonic flow meter.

Asia Pacific is estimated to be the largest growing market for ultrasonic flow meters during the forecast period. The ultrasonic flow meter market has been segmented, by region, into Asia Pacific, Europe, the Middle East & Africa, North America, and South America. The growth of this region is primarily driven by increasing number of investments in the water & wastewater, energy and power, refining, chemicals, and industrial infrastructure activities in the developing economies such as China and India.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the ultrasonic flow meter market. Some of the key players in the ultrasonic flow meter market are Siemens (Germany), Danfoss (Denmark), Fuji Electric (Japan), Badger Meter (US), GE (US), Endress+Hauser (Switzerland), Honeywell (US), and KROHNE (Germany). The leading players are adopting various strategies to increase their shares in the ultrasonic flow meter market.

Key Questions addressed by the report:

• The report identifies and addresses key ultrasonic flow meter market, which would help various stakeholders such as utilities, process industries, power & energy associations, ultrasonic flow meter manufacturers, and dealers and suppliers to review the growth in demand.
• The report helps system providers understand the pulse of the market and provides insights into drivers, restraints, opportunities, and challenges.
• The report will help key players understand the strategies of their competitors better and make better strategic decisions.
• The report addresses the market share analysis of key players in the ultrasonic flow meter market, with the help of this, companies can enhance their revenues in the respective market.
• The report provides insights about emerging geographies for the market, and hence, the entire market ecosystem can gain a competitive advantage from such insights.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

 

Permanent Magnet Motor Market | Emerging Industry Volume & Analysis 2023

The permanent magnet motor market is expected to grow from an estimated market size of USD 29.50 Billion in 2018 to USD 45.13 Billion by 2023, at a CAGR of 8.87%, from 2018 to 2023. The global market is set to witness a significant growth because of the increasing implementation of permanent magnet motors across industries. Growing robotics technology presents a significant opportunity for the permanent magnet motor market.

Permanent Magnet AC Motor: The largest segment, by type, during the forecast period

The permanent magnet AC motor segment is expected to hold the majority share of the permanent magnet motor market during the forecast period. Growing investment in consumer electronics and government initiatives to promote the use of energy-efficient motors are the major factors driving the permanent magnet motor market in the Asia Pacific region. The Asian market players, such as Yaskawa, Nidec, Toshiba Corporation, and Johnson Electric are involved in the manufacturing of permanent magnet AC motors. These factors have resulted in the highest market share of the permanent magnet AC motor segment in the permanent magnet motor market.

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The up to 25 kW segment accounts for the largest share of the permanent magnet motor market, by power rating, during the forecast period

The up to 25 kW segment is expected to be the largest market, by power rating, from 2018 to 2023. The factors driving the market for permanent magnet motors ranging up to 25 kW include vast implementation of these permanent magnet motors in textile, pulp & paper, medical devices, aerospace, robotics, window shutters, air conditioners, door shutters, and electrical vehicles.

Scope of the Report:

• By Type
  • Permanent Magnet Alternate Current Motor (PMAC)
  • Permanent Magnet Alternate Direct Motor (PMDC)
  • Brushless DC
• By Power Rating
  • Up to 25 kW
  • 25–100 kW
  • 100–300 kW
  • 300 kW & Above
• By End-User
  • Industrial
  • Commercial & Residential
  • Healthcare
  • Others
• By Region
  • Asia Pacific
  • North America
  • Europe
  • South America
  • The Middle East & Africa

Asia Pacific: The fastest-growing market for permanent magnet motor

In this report, the permanent magnet motor market has been analyzed on the basis of five regions, namely, Asia Pacific, North America, Europe, and the Middle East & Africa. The permanent magnet motor market in Asia Pacific is driven by countries such as China, India, Japan, and Australia. Asia Pacific has economies with increasing industrial & manufacturing sectors, automotive, consumer electronics, chemicals and processing, and paper & pulp. The demand for permanent magnet motors in these sectors is driven by rapid industrialization, rising population, and urbanization. Countries such as China and Japan have implemented energy efficiency standards to save electricity consumption. This drives the market for permanent magnet motors. Governments of major economies in Asia Pacific promote the use of energy-efficient motors in order to save electricity. This drives the market for permanent magnet motors in Asia Pacific.

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To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the key players in the permanent magnet motor market. These include GE (US), Siemens (Germany), ABB (Switzerland), Toshiba Corporation (Japan), and Emerson (US). The leading players are trying to establish themselves in the markets in developing economies and are adopting various strategies to increase their market shares.

Objectives of the Study

• To define, describe, and forecast the global permanent magnet motor market on the basis of type, power rating, end-users, and region
• To provide detailed information on major factors influencing the growth of the market (drivers, restraints, opportunities, and industry-specific challenges)
• To strategically analyze the market with respect to individual growth trends, future expansions, and contributions to the market
• To analyze market opportunities for stakeholders and details of a competitive landscape for market leaders
• To forecast the growth of the market with respect to major regions (North America, Europe, Asia Pacific, South America, and Middle East & Africa)
• To profile key players and comprehensively analyze their market ranking and core competencies
• To analyze competitive developments, such as mergers & acquisitions, expansion, new product developments, and contracts & agreements in the field of market

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About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 5000 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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MarketsandMarkets™ INC.
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Diesel Power Engine Market to Witness Comprehensive Growth by 2025

The diesel power engine market is expected to reach USD 7.9 billion by 2025 from an estimated value of USD 6.3 billion in 2020, at a CAGR of 4.6%. In Asia Pacific, increasing electricity demand, and industrialization projects in the countries such as China, Japan, India, and South Korea are the main factors driving the growth of the diesel power engine market in the region. In North America, and Europe the demand for diesel power engines is in large part driven by the investments in datacenters, and other commercial facilities.

The diesel power engine market includes major Tier I and II suppliers like Caterpillar, Cummins, Wartsila, Rolls Royce Holdings, and MAN SE. These suppliers have their manufacturing facilities spread across various countries across Asia Pacific, Europe, North America, Middle East & Africa, and South America. COVID-19 has impacted their businesses as well.

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The industrial segment is expected to be the largest diesel power engine market, by operation, during the forecast period

Industries require standby power generation to be used in the case of power outages or voltage fluctuations. Several large industries are in remote locations where distribution supply is unavailable. In such situations, industries need power generation to provide prime power and require other sets of power generation for emergencies. Temporary power supply for projects is another major application in industrial segment. Increased industrial activity and investments in Asia Pacific are expected to drive the demand for diesel power engines.

The Above 1000 rpm segment is projected to dominate the diesel power engine market during the forecast period

Demand for diesel power engines from the industrial and commercial sectors for standby power generation and peak shaving is the major driver for demand in this segment. High-speed diesel engines which operate at speeds of more than 1000 rpm are popular in low- and medium-power engine segments. These high-speed engines offer advantages such as low initial cost, better fuel efficiencies, low maintenance cost, and reduced overhaul frequency and related costs. Industrial and commercial end users prefer diesel power engines of this segment due to their quick-start capability.

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Europe is projected to be the fastest growing diesel power engine market during the forecast period

In this report, the diesel power engine market has been analyzed across five regions, namely, Asia Pacific, North America, Europe, Middle East & Africa, South America. High growth in European market is driven by the increased investments in datacenters owing to the demand from global trends, digitalization, analytics, and cloud computing. Key policy decisions by the EU, especially General Data Protection Regulation (GDPR), which indirectly forces global companies to process European data on European soil, are expected to drive the demand in this area. Emergency standby power is required for datacenters to stay online in spite of the main power grid supply interruptions. These factors are expected to drive the growth of diesel power engines in Europe.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the diesel power engine market. The key players include Caterpillar (US), Cummins (US), Wartsila (Finland), Rolls Royce Holdings (UK), MAN SE (Germany), Mitsubishi Heavy Industries Engine & Turbocharger (Japan), and Volvo Penta (Sweden) are the key players in the global diesel power engine market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Our 850 fulltime analyst and SMEs at MarketsandMarkets™ are tracking global high growth markets following the "Growth Engagement Model – GEM". The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write "Attack, avoid and defend" strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets™ now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets™ is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.

MarketsandMarkets’s flagship competitive intelligence and market research platform, "Knowledgestore" connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Marine Engines Market Outlook 2020 – Huge Growth, Trends, Revenue And In-Depth Analysis 2025

The global marine engines market is projected to grow from USD 11.8 billion in 2020 to USD 13.7 billion by 2025; it is expected to grow at a CAGR of 3.1% from 2020 to 2025. The key factors driving the growth of the marine engine market include growth in international marine freight transport, growth in maritime tourism, and increasing adoption of smart engines for situational awareness and safety.

The heavy fuel oil segment is expected to dominate the marine engines market, by fuel, during the forecast period.

The heavy fuel oil segment is expected to lead the marine engines market from 2020 to 2025. Heavy fuel oil is the commonly used fuel for marine engines across the globe. Inspite of the stringent emission controls and revisions in IMO standards, the demand for heavy fuel oil marine engines is expected to be the largest among all segments.

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The propulsion engine segment is expected to be the fastest-growing marine engines market, by engine, during the forecast period.

The propulsion engine segment, by engine, in marine engines market is estimated to grow at the fastest rate during the forecast period. Propulsion engines are the main engines of ships, providing thrust and power to move and sail the oceans. Marine propulsion engines are a very important asset of ships as they are the prime mover of the ship. Thus, the demand for propulsion engines across various engine types is expected to increase with the increased demand for marine engines.

Asia Pacific likely to emerge as the largest marine engines market

In this report, the marine engines market has been analyzed for five regions, namely, Asia Pacific, North America, Europe, Middle East & Africa, and South America. Asia Pacific is estimated to be the largest market for marine engines during the forecast period. Asia Pacific is global leader in shipbuilding industry both in terms of exports and imports. It is considered to be a lucrative region for maritime trade. Countries such as China, Japan, and South Korea are considered as the main manufacturing hubs for marine engines. Over the past few years, this region has witnessed rapid economic development as well as the growth of the manufacturing and energy sectors, thereby resulting in an increase in the maritime trade. The rise in seaborne trade has subsequently led to an increase in demand for ships that are used to transport manufactured goods to various regions worldwide.

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To enable an in-depth understanding of the competitive landscape, the report includes some of the top players in the marine engines market. Some of the key players are Hyundai Heavy Industries (South Korea), Caterpillar (US), MAN SE (Germany), Mitsubishi Heavy Industries (Japan), and Volvo Penta (Sweden). The leading players are adopting various strategies to increase their share in the marine engines market.

About MarketsandMarkets™

MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

Contact:
Mr. Aashish Mehra
MarketsandMarkets™ INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
newsletter@marketsandmarkets.com

Electronic Load Market Outlook 2019 – Huge Growth, Trends, Revenue And In-Depth Analysis 2024

 

The Electronic Load Market is expected to grow from an estimated value of USD 3.0 billion in 2019 to USD 4.0 billion by 2024, at a CAGR of 6.3% from 2019 to 2024. The growth of this market is driven by maximizing the reliability of wireless communication. North America and Asia Pacific are the leading regions for wireless communication and infrastructure as countries such as the US, Japan, China, and South Korea are investing substantially in 5G network infrastructure development.

The DC segment is expected to hold the largest share of the electronic load market, by current type, during the forecast period

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.

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Low voltage is the largest segment in the electronic load market, by voltage, during the forecast period

The low voltage segment held the largest share of the market in 2018. Low voltage electronic loads range up to 1,000 V.  Rise in the usage of portable devices and the growing need for testing the reliability of a power source are factors that are likely to drive the demand for low voltage electronic loads. Low voltage electronic loads are mainly used by the manufacturers to test equipment during the stage of production to understand the product features and its adherence to the technical standards.

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

Automotive is expected to be the fastest-growing market, by application, during the forecast period

The automotive segment is driven by an increase in the development of electric and autonomous vehicles.  The growth of electric vehicles is dependent on batteries. Hence, battery manufacturers are using electronic loads to test the capacity of batteries using constant power mode to provide consistent power drain as the battery voltage drops over time. This helps them in identifying the right size batteries for electric vehicles during the manufacturing stage.

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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.

To enable an in-depth understanding of the competitive landscape, the report includes the profiles of some of the top players in the electronic load market. These include Keysight Technologies (US), AMETEK (US), National Instruments (US), Chroma ATE (Taiwan), and Teledyne Technologies (US). The leading players are trying to establish themselves in the markets in developing economies and are adopting various strategies to increase their respective market share.

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