Electronic Load Market Forecast | 2023-28

Market Insights

The electronic load market is estimated to grow from USD 3.54 billion in 2022 to USD 5.21 billion by 2028 at a CAGR of 6.51% during the forecast period.

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What is the electronic load market?

An electronic load, also known as a constant current dummy load, is a device designed so that a power supply can draw a certain amount of current without dissipating too much heat.

Electronic loads are mainly used by car battery manufacturers, fuel-cell manufacturers, cell phone manufacturers, solar panel manufacturers, oil & gas, and in other industries where power must be tested and should be useful to determine the characteristics and provide discharge test data for engineers.

Market Dynamics

The market is driven by a host of factors, some of which are noted below:

Increasing Investment and reliance on wireless communication and infrastructure

The demand for mobile phones rapidly surges, mainly among developing countries, as mobiles have batteries, which require testing to ensure the effective operation of electronic components. This has boosted investments in wireless communication and infrastructure.

Increase in consumption of renewable energy driving the market:

According to the International Renewable Energy Agency, the world’s total renewable capacity increased by 0.095% in 2022 to 3 371 793 MW. The rising consciousness towards the environment is escalating the production of electricity from hydro solar, and tidal resources, which require less capital than gas and oil. Before consumption, it needs to be stored in batteries. This factor is anticipated to be the growth driver for the electric load market.

Increasing usage of Innovative electronic vehicles:

The demand for electric vehicles has increased because of the rising consciousness to preserve the earth's resources and practice environmental sustainability. Electric vehicles are becoming more common as technological advancements in the electrification of buses, lorries, and two- and three-wheelers advance, and the demand for them rises. The need for battery testing equipment has grown along with the development of EVs and fuel cells. This is one of the crucial elements that will likely fuel the electric load markets’ expansion.

Surging reliability of electronics:

Over the last few years, the usage of consumer electronics has been booming, which has caused manufacturers to use various strategies, one of which is pushing a lot of devices onto the market so that customers have the ease to purchase them. Due to the increased demand, it is essential to maintain the security of these gadgets to prevent mishaps like overheating, data loss, and others. It is clear that a product is needed to aid with electronic testing, which will increase demand for the electric load market.

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Segment Analysis

By Voltage Type

The market is segmented as high voltage and low voltage. The low voltage segment held the larger share of the market in 2022 and is expected to remain dominant during the forecast period. The growing demand for testing and measuring equipment at the initial stages of development to avoid malfunctioning at the later stages is driving the growth of this segment.

By Current Type

The market is segmented as AC and DC. The DC segment held the larger share of the market in 2022 and is expected to remain the faster-growing current type during the forecast period. The extensive use of DC electronic loads for testing power devices such as power converters and inverter testing, power supplies, batteries, automotive charging stations, solar panels, fuel cells, and other power electronic components is driving the growth of the segment during the forecast period.

By Application Type

The electronic load market is segmented as aerospace, defense & government services; automotive; energy; wireless communication and infrastructure; and others. The wireless communication and infrastructure segment dominate the market, as they are the support systems for communication and form an essential component of any country’s economy. They are also used across various end-use industries such as aerospace, automotive, and consumer electronics, among a host of others, as they provide reliable control systems and improve productivity.

By Region

North America is estimated to be the largest electronic load market during the forecast period, with the USA, Canada, and Mexico being the major countries with lucrative growth opportunities. The growth of the market is driven by the increasing demand for electronic load due to increased investment in R&D across various end-use sectors, the adoption of 5G technology, and the presence of a large number of electronic load manufacturers in the North American region. Europe and Asia-Pacific are also expected to offer substantial growth opportunities during the foreseen duration.

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Segmentation

This report studies the market covering a period of 12 years of trend and forecast. The report provides detailed insights into the market dynamics to enable informed business decision-making and growth strategy formulation based on the opportunities present in the market. 

The electronic load market is segmented into the following categories. 

By Voltage Type:

• High Voltage
• Low Voltage 

By Current Type:

• AC 
• DC 

 By Application Type:

• Aerospace, Defense & Government Services 
• Automotive 
• Energy 
• Wireless Communication and Infrastructure 
• Others 

By Region:

• North America (Country Analysis: the USA, Canada, and Mexico) 
• Europe (Country Analysis: Germany, France, the UK, Russia, Spain, and Rest of Europe)
• Asia-Pacific (Country Analysis: China, Japan, India, South Korea, and Rest of Asia-Pacific)
• Rest of the World (Sub-Region Analysis: Latin America, the Middle East, and Others)

key Players

Some of the major players in the electronic load market are-

• Keysight Technologies
• Ametek, Inc.
• National Instruments Corporation
• Chroma Ate Inc.
• Teledyne Technologies
• B&K Precision Corporation.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data.

We conducted more than 10 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights. 

Report Features

This report provides market intelligence in the most comprehensive way. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market. 

What Deliverables Will You Get in this Report?

Customization Options

With this detailed report, Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Market Segmentation

• Current market segmentation of any one of the voltage types by application type.  

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

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