Electronic Loads Log Big Bucks By 2024
By Mat Dirjish
Electronic loads find employment in testing a near endless range of power devices, i.e., power supplies, converters and inverters, batteries, automotive charging stations, solar panels, fuel cells, etc. It stands to reason that there is a big market for these instruments, and researchers at MarketsandMarkets concur. According to their report, “Electronic Load Market by Voltage, Current Type, Application, Region- Global Trends and Forecast to 2024” the market for these instruments will be around $4 billion by 2024, advancing at a CAGR of 6.3% from 2019 to 2024.
The researchers say market growth is attributable to reliability testing of wireless-communication products. Other revelations include:
- The dc type segment is set to hold the largest share of the market.
- Low voltage is the largest segment during the forecast period.
- Automotive applications to exhibit fastest growing market, by application, during the forecast period.
- North America a contender to dominate the global market.