CHICAGO, 25 November 2021 / PRNewswire / – According to New Market Research Report “Power Device Analyzers Market by type (both AC and DC, AC and DC), current (below 1000A and above 1000A), end user (automotive, energy, telecommunications, consumer electronics and devices, medical) and region – Global forecasts up to 2026 “, published by MarketsandMarkets ™, the market size of Power Device Analyzer will increase to $ 577 million by 2026 (forecast year) from $ 457 million in 2021 (estimated year), at a CAGR of 4.8% over the forecast period. A power device analyzer is used to measure a variety of parameters associated with energy consumption and production. Electrical appliance analyzers are mainly used to measure different aspects of the power supply, such as voltage; running; Power; peak, average and RMS parameters; harmonics; phase; and a variety of other parameters for various applications, including testing of power electronics, inverters, motors and drives, lighting, home appliances, office equipment, power supplies and industrial machines. These analyzers can acquire and store data for built-in calculations used for additional and complex analyzes. There are three types of power device analyzers, namely AC and DC, AC and DC. DC analyzers bring together and organize multiple instruments to perform DC measurements and procurement tasks, while AC analyzers provide precise measurements of power, harmonics and efficiency of power conversion equipment. .
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The AC and DC segment is expected to dominate the Power Device Analyzer market, by type, during the forecast period.
AC and DC-type segments accounted for the largest share of the Power Device Analyzers market, by type, in 2020. AC and DC-type segments are expected to account for a larger market share, owing to government initiatives aimed at to implement energy audits with an increase in mandatory regulations, a growing demand for electric vehicles (EVs) and a growing Internet of Things (IoT) market are driving the market for AC and DC segments. Additionally, increased energy audits and government mandates around the world are likely to drive demand for power analyzers.
The current segment below 1000A is expected to dominate the power analyzer market, by current, during the forecast period.
The segment below 1000A accounted for the largest share of the Power Device Analyzer market, by current, in 2020. The majority of projects are undertaken in this segment. 1000A are used in various end user industries, such as automotive, energy, aerospace and defense, wireless communications, and healthcare equipment manufacturing. Some of the main products used in the automotive and power industries are PWM inverters, AC / DC converters, solar panels, UPS (uninterruptible power supply) and high frequency power electronics. These products require power device analyzers to test the quality of the supplied power and various other power related parameters.
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Automotive Segment is expected to dominate the Power Device Analyzer Market, by End User, during the forecast period
The automotive segment accounted for the largest share of the power device analyzer market, by end user, in 2020. The automotive segment held a 21.3% share of the power device analyzer market in 2020. The analyzers Power devices are used to test power conversion systems, where energy from one form is converted into another form. Power conversion systems are used in different parts of different products in the automotive industry, such as passenger cars, light trucks, sport utility vehicles and commercial vehicles. In addition, the development of electric and autonomous vehicles has increased the demand for electrical device analyzers to ensure the quality, safety and reliability of automotive systems. In an electric vehicle, electrical device analyzers are used to test various components, such as electric motors, battery management systems, navigation systems, and electric charging systems. Currently, China, Japan, and South Korea dominate the market for electric vehicle batteries. Some of the leading electric vehicle battery manufacturing companies in Asia Pacific understand from China Contemporary Amperex technology (China), the company BYD (China) and LG Chem (South Korea).
Asia Pacific has high demand for power device analyzer market
Asia Pacific held 54.2% of the global power supply analyzer market share in 2020. This regional market is segmented into China, Japan, South Korea, Australia, India, and the rest of Asia Pacific. The growth of this region is supported by an increase in demand for electric vehicles (EVs) and an increase in strict government policies. For example, in April 2021, the government of China mandated that a certain percentage of all vehicles sold by a manufacturer each year must be battery powered. Additionally, to avoid financial penalties, manufacturers must earn a set number of points per year, which are awarded for each EV produced. By 2030, targeted sales of electric vehicles in China aim to account for 40% of all car sales. In addition, global automakers such as BMW, Tesla and Volkswagen are establishing their manufacturing facilities in Asia Pacific because this region offers lucrative opportunities. Thus, increased investment in major end-use industries is likely to boost the Power Supply Device Analyzers market during the forecast period.
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The main players are Keysight Technologies (United States), Yokogawa (Japan), Fluke Corporation (United States), Iwatsu Electric (Japan), Hioki EE Corporation (Japan). Major players are adopting various strategies to increase their share in the Power Analyzer market.
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