GPTE Market Size To Grow By US$1.95 Billion, Growing Demand From End-User Industries To Stimulate Market Growth

NEW YORK, November 22, 2022 /PRNewswire/ — The “General purpose test equipment (GPTE) market. by Product, End User and Region – Forecasts and Analysis 2022-2026″ has been added to Technavio’s offering. With ISO 9001:2015 certification, Technavio has proudly partnered with over 100 Fortune 500 companies for over 16 years. The Potential the growth difference for the general purpose test equipment (GPTE) market size between 2021 and 2026 is USD 1.95 billion. To get the exact annual growth variance and year-on-year growth rate, Request a FREE PDF sample report.

Technavio has announced its latest market research report titled Global General Purpose Test Equipment (GPTE) Market

Main market dynamics

  • Key factor: Growing demand from end user industries is driving the growth of the market. GPTE plays an important role in automated control systems, as they regulate the movement of the entire machine. The use of automated machines helps automate the operation of the machines and reduce the expenditure on labor. Automated machines require continuous component testing, which is driving demand for GPTEs in end-user industries such as food and beverage, automotive, manufacturing, energy, and utilities. Furthermore, the demand for passenger cars in APAC is estimated to grow which will further fuel the demand for GPTEs in the coming years.

  • Main Challenge: The long GPTE replacement cycle such as oscillators, spectrum analyzers, signal generators and network analyzers is challenging the growth of the market. In the event of an error, only the affected part needs to be replaced. Therefore, buyers prefer to upgrade components instead of changing the whole system to save cost. They also have the option of contacting specialized suppliers or service providers. Therefore, the long product replacement cycle prevents customers from switching from one supplier to another. Such factors are expected to hamper the growth of the market over the forecast period.

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Seller landscape

The market is fragmented thanks to the presence of a large number of international and local players. International players have developed a wide range of energy efficient GPTEs and offer products for almost any end-user application. The market also has several local suppliers that cater to the demand for particular end-user applications. This resulted in intense competition in regional markets. Suppliers are focusing on offering test and measurement equipment that meets customer demands. Competition in the market is expected to intensify over the forecast period as several companies are investing in the markets of emerging economies due to the growth prospects.

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Market segmentation

The General Purpose Test Equipment (GPTE) market report is segmented by Product (Oscilloscope, Spectrum Analyzer, Signal Generator, Network Analyzer and other products), End User (Communications, Industrial, Aerospace & Defense, Electronics and semiconductors and others) and geography (APAC, North America, Europe, South AmericaAnd Middle East And Africa). APAC extension will be the leading region with 40% of the market growth during the forecast period. China, JapanAnd South Korea it is the key country for the general purpose test equipment (GPTE) market in APAC.

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Some companies mentioned

  • Agilent Technologies Inc.

  • AMETEK Inc.

  • Anritsu Corp.

  • Aplab srl

  • Danaher Corp.

  • Fortive Corp.

  • Keysight Technologies Inc.

  • Lauterbach GmbH

  • National Instrument Corp.

  • Rohde and Schwarz GmbH and Co. KG

  • Scientech Technologies Pvt. srl.

  • Seaward Electronic Ltd.

  • SGS SA

  • TEGAM Inc.

  • Texas Instrument Inc.

  • Thermo Fisher Scientific Inc.

  • Viavi Solutions Inc.

  • Yokogawa Electric Corp.

  • Avvantest Corp.

  • Teledyne Technologies Inc.

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General purpose test equipment (GPTE) market scope.

Report coverage

Details

Page number

120

Reference year

2021

Forecast period

2022-2026

Growth momentum and CAGR

Accelerates to a CAGR of 5.58%

Market growth 2022-2026

USD 1.95 billion

Market structure

Fragmented

Year-Over-Year Growth (%)

4.75

Regional analysis

APAC, North America, Europe, South America, the Middle East and Africa

Performing market contribution

40% APAC

Main consuming countries

United States, China, Japan, South Korea and Germany

Competitive landscape

Leading companies, competitive strategies, consumer engagement scope

Profiled companies

Agilent Technologies Inc., AMETEK Inc., Anritsu Corp., Aplab Ltd., Danaher Corp., Fortive Corp., Keysight Technologies Inc., Lauterbach GmbH, National Instruments Corp., Rohde and Schwarz GmbH and Co. KG, Scientech Technologies Pvt . Ltd., Seaward Electronic Ltd., SGS SA, TEGAM Inc., Texas Instruments Inc., Thermo Fisher Scientific Inc., Viavi Solutions Inc., Yokogawa Electric Corp., Advantest Corp. and Teledyne Technologies Inc.

Market dynamics

Analysis of the main market, drivers and barriers to market growth, analysis of the fast and slow growing segments, the impact of COVID-19 and future consumer dynamics and market condition analysis for the forecast period.

Customization expertise

If our report didn’t include the data you’re looking for, you can reach out to our analysts and customize the segments.

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Main topics covered

1 Executive summary

2 Market landscape

3 Market sizing

4 Analysis of the five forces

5 Market segmentation by product

6 Market segmentation by end user

7 Customer landscape

8 Geographical landscape

9 Drivers, challenges and trends

10 Vendor landscape

11 Vendor analysis

12 Appendix

Who we are

Technavio is a world-leading technology research and consulting company. Their research and analysis focus on emerging market trends and provide actionable insights to help companies identify market opportunities and develop effective strategies to optimize their market positions.

With over 500 specialist analysts, Technavio’s reporting library consists of over 17,000 reports and counts, covering 800 technologies, spanning 50 countries. Their client base consists of companies of all sizes, including more than 100 Fortune 500 companies. This growing client base is based on Technavio’s comprehensive coverage, extensive research and actionable market insights to identify opportunities in the markets existing and potential and evaluate their competitive positions within evolving market scenarios.

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Global general purpose test equipment (GPTE) market.

Global general purpose test equipment (GPTE) market.

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