The North America Power Device Analyzer Market would witness market growth of 4.3% CAGR during the forecast period (2021-2027).
Power device analyzers help to improve system efficiency while also assisting in the analysis of power supply distortion. In addition, the increasing deployment of these power device analyzers is expected to generate market growth prospects.
There are few government laws in place to control energy waste. As a result, because of their reduced prices, medium- and small-scale enterprises, particularly in developing nations, prefer power device analyzers built domestically. These constraints are expected to limit the growth opportunities for branded device producers. On the other hand, the growing popularity of renewable energy sources is expected to drive demand in the power device analyzer market in the coming years.
Power analyzers refer to the test instruments that are becoming more significant in the electrical and electronics sectors as all aspects of power consumption by large and small equipment become a bigger concern. At frequencies ranging from 50/60 Hz to several kilohertz, power analyzers can assess a variety of characteristics related to power consumption and generation.
The regional market is witnessing high adoption of test and measurement equipment and implementation of wireless communication and networks. The region has always remained at the forefront of technological development. Also, Renewable energy accounted for around 12.6 percent of total primary energy consumption and 19.8 percent of domestically produced electricity in the United States in 2020, according to preliminary statistics from the US Energy Information Administration.
In addition, the Biden administration has prioritized "buy American" and American-sourced electric automobiles since the beginning of 2021. Initially, that promise was supposed to include acquiring minerals for the construction and assembly of battery packs in electric vehicles from U.S. mines. Moreover, the United States' emphasis on generating more electric vehicles and charging facilities creates opportunities for automakers. Therefore, these factors are likely to create lucrative growth opportunities for the players operating in the regional Power Device Analyzer Market throughout the forecast years.
The US market dominated the North America Power Device Analyzer Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $94.6 million by 2027. The Canada market is poised to grow at a CAGR of 6.7% during (2021 - 2027). Additionally, The Mexico market would witness a CAGR of 5.8% during (2021 - 2027).
Based on Type, the market is segmented into Both AC & DC, AC, and DC. Based on Current, the market is segmented into Below 1000 A and Above 1000 A. Based on End User, the market is segmented into Automotive, Consumer Electronics & Appliances, Energy, Telecommunication, Medical, and Others. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
Free Valuable Insights: The Global Power Device Analyzer Market is Estimated to reach $597.7 Million by 2027, at a CAGR of 4.6%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Hioki E.E. Corporation, Newtons4th Ltd., Carlo Gavazzi Holding AG, Keysight Technologies, Inc., Yokogawa Electric Corporation, Rohde & Schwarz GmbH & Co. KG, Texas Instruments, Inc., PCE Instruments, Dewesoft d.o.o., and Fortive Corporation (Fluke Corporation).
By Type
By Current
By End User
By Country
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