The Gauss meter market is likely to register a CAGR of 4.9% throughout the forecast period. The global market is anticipated to reach a share of USD 6.5 Billion in 2032, due to increasing digitization across the globe.
| Attribute | Details |
|---|---|
| Anticipated Market Size (2022) | USD 4.1 Billion |
| Expected Market Value in 2032 | USD 6.5 Billion |
| Value CAGR (2022 to 2032) | 4.9% |
The global valuation of the Gauss meter market was estimated at nearly USD 3.8 Billion in 2021 and registered a Y-o-Y growth rate of 4%. Fact.MR’s Gauss meter market report analyses the growth, which is presently increasing due to increasing digitization and increasing awareness about power loss.
Over the next decade, the market value is likely to reach approximately USD 6.5 Billion and will expand at a CAGR of 4.9% through 2032. This market growth is largely driven by the increasing prevalence of magnetism in electric vehicles and electric equipment.
Gaussmeter can measure and identify the direction and intensity of a magnetic field. The technology is adopted by many manufacturers, in which the concentration of electrons creates a measurable and limited voltage across the conductor.
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These Gauss meters are handy and easy to operate and it doesn’t require a highly skilled professional to operate. Gauss meters are primarily professional to measure AC magnetic fields from wiring, lighting, power lines, and for other appliances.
On the other hand, these Gauss meters are used by the end-users for the measurement of the steady magnetic field, which are also useful in laboratory experiments involving electromagnets. These are the primary factors, which are driving the market for Gauss meters.
Research laboratories and organizations need to make heavy investments in order to procure and maintain modern and advanced Gauss meters. The complexity of the devices while manufacturing and maintenance expenses associated with this equipment are expected to restrict the growth of the global Gauss meter market as small-sized organizations do not find it economically feasible to use an expensive Gauss meter. These are the primary factors, which are acting as a challenge for the Gauss meter market growth during the assessment period.
China is pegged to be the fastest-growing Gauss meter market, due to the initiatives being taken by the government of the country and players in the market towards technological advancements.
The Gauss meter markets in Asian countries are expected to witness high growth rates in the coming period, due to the rise in the adoption of smart electronic devices, especially in multiple industries, such as manufacturing and healthcare.
Europe is expected to gain substantial Gauss meter market shares in the coming years, owing to the rapid adoption of smart and handy technologies.
Owing to the development of superconducting technology and high magnetic field availability in the region, the demand for axial and transverse Gauss meters is likely to expand in the foreseeable future
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On the basis of geography, the largest Gauss meter market share is held by North America, owing to the presence of well-developed manufacturing companies with innovative technologies in the region.
The presence of prominent manufacturers of Gauss meters such as Magnetic Component Engineering, Inc., PCE Americas, Inc, Inspection Technologies Inc, Sepor, Inc., Oersted Technology, and others have expanded the market size of Gauss meters in the region, especially in the USA.
Some of the key participants present in the global demand of the Gauss meter market include Lake Shore Cryotronics, Less EMF, Goudsmit Magnetics, Spectris, PCE Deutschland, Nihon Denji Sokki, Star Trace, Eclipse Magnetics, Davis InstrumentsSepor, among others.
PCE Instruments has recently developed Gauss meters which can be calibrated and certified according to DIN ISO 9000 standards for an additional fee. Replacement gaussmeter probes and optional accessories are available for most gaussmeter models.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.9% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2015 to 2020 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Million and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends, and Pricing Analysis |
| Segments Covered | Orientation, Product Type, Vertical, Region |
| Regions Covered | North America; Latin America; Western Europe; Eastern Europe; SEA & Others of Asia Pacific; Japan; China; Middle East and Africa |
| Key Countries Profiled | USA, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, BENELUX, Poland, Russia, Australia & New Zealand, India, ASIAN, GCC Countries, South Africa, Turkey |
| Key Companies Profiled | Lake Shore Cryotronics; Less EMF; Goudsmit Magnetics; Spectris; PCE Deutschland; Nihon Denji; Sokki; Star Trace; Eclipse Magnetics; Davis InstrumentsSepor |
| Customization | Available Upon Request |
The Gauss meter market is predicted to grow at 4.9% CAGR through 2032.
Asia Pacific Gauss meter holds the highest revenue potential.
The Gauss meter market is expected to surpass USD 6.5 Billion by 2032.
The Gauss meter market size is anticipated to be over USD 4.1 Billion in 2022.
| Expected Market Value (2022) | USD 650 Million |
|---|---|
| Anticipated Forecast Value (2032) | USD 1.4 Billion |
| Projected CAGR (2022 to 2032) | 8% |
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