Global Motor Testing Equipment demand is projected to be valued at USD 2.72 Billion in 2022, forecast to grow at a CAGR of 4.4% to be valued at USD 4.2 Billion from 2022 to 2032. Growth is attributed to the rising demand for renovation projects and development in residential and commercial construction.
| Report Attribute | Details |
|---|---|
| Estimated Base Year Value (2021) | USD 2.6 Billion |
| Expected Market Value (2022) | USD 2.72 Billion |
| Anticipated Forecast Value (2032) | USD 4.2 Billion |
| Projected Growth Rate (2022 to 2032) | 4.4% CAGR |
Motor testing equipment is used to measure and estimate various performance parameters and electrical characteristics of motors. They are of many types including single-phase motor testing equipment and three-phase motor testing equipment. Motor testing equipment can be either offline where no power is supplied to the motor or online where the power supply is required.
Motor testing equipment is used to improve the lifespan and efficiency of motors. Motor testing equipment has inbuilt series of tests that are sequenced automatically and they complete the tests quickly with high accuracy.
Which are Some Prominent Drivers Spearheading Motor Testing Equipment Market Growth?
Motors have a wide range of industrial, residential, and commercial applications and are used in pumps, elevators, compressors, refrigerators, and fans. Therefore, the demand for motors might increase due to their use in various electrical products, and thus, the market for motor testing equipment might also rise as the motors will require maintenance and repairing for efficient functioning.
The changing lifestyle and increase in disposable income have resulted in a surging demand for automobiles, but the growth in this market has contributed to the rise in the emission of greenhouse gases and is increasing the risk of health hazards, and thus, the demand for electric-vehicle and cars might increase in future. The growth in the market for electric-vehicle and cars will increase the demand for motors, and thus, the motor testing equipment market is also expected to grow.
Don't pay for what you don't need
Customize your report by selecting specific countries or regions and save 30%!
The high cost linked with the buying and maintenance of automatic test equipment acts as a key barrier to early adoption, which hinders the growth of the market.
The increase in industrialization might also serve as one of the drivers for the motor equipment market. Industrialization is expected to increase at a very high rate in countries in the Asia Pacific region, especially in India, China, etc. Thus, the use of motors will also rise with the increase in industrialization because it has application in various electrical devices, and therefore, might have a positive impact on motor testing equipment.
Principal Consultant
Owing to the benefits presented by motor testing equipment, the market has observed rising demand from plentiful end-use industries - such as automotive. As the automotive industry is prospering backed by the ongoing trend of electric vehicles have boosted the industry growth across the region.
Since automotive testing is directly associated with the manufacturing of vehicles, the demand is likely to be an upsurge in the forthcoming future. Due to the increasing disposable income of people in European countries, the demand for vehicles has increased.
Several North American governments are employing novel track inspection criteria to upsurge the operational efficiency of railway activities. For instance, in August 2020, the U.S. Department of Transportation's (DoT's) Federal Railroad Administration (FRA) offered to the Federal Register a final rule asserting the usage of ultrasonic inspection technology enabling railroads to execute incessant rail testing activities, which updated with GPS technology.
Moreover, on account of the rising application of automated test equipment in the aerospace & defense sector, the market has gained huge traction, especially in the countries like U.S & Canada. Regional Governments are taking initiatives to promote chip manufacturing and cater to the market progression from the military, aerospace & defense sectors. The government is also allocating funds for the continuous testing of the vehicles to ensure safety and increase the efficiency of the automobile.
Get the data you need at a Fraction of the cost
Personalize your report by choosing insights you need
and save 40%!
Some of the key participants present in the global demand for Motor Testing Equipment market include Sushma Industries Private Limited, M.E.A. Testing Systems Ltd., ALL-TEST Pro, LLC, Magtrol Inc, PdMA Corporation, Phenix Technologies, Megger Group Limited, Extech Instruments Corporation, Kistler Instrument Corporation, etc., among others.
| Report Attribute | Details |
|---|---|
| Growth Rate | CAGR of 4.4% from 2022 to 2032 |
| Base Year for Estimation | 2021 |
| Historical Data | 2016 to 2021 |
| Forecast Period | 2022 to 2032 |
| Quantitative Units | Revenue in USD Billion, Volume in Kilotons and CAGR from 2022 to 2032 |
| Report Coverage | Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis |
| Segments Covered |
Type, Application, Region |
| Regions Covered |
North America; Latin America; Western Europe; Eastern Europe; APEJ; Japan; Middle East and Africa |
| Key Countries Profiled |
USA, Canada, Brazil, Argentina, Germany, UK, France, Spain, Italy, Nordics, BENELUX, Australia & New Zealand, China, India, ASEAN, GCC, South Africa |
| Key Companies Profiled |
Sushma Industries Private Limited; M.E.A. Testing Systems Ltd.; ALL-TEST Pro, LLC; Magtrol Inc; PdMA Corporation; Phenix Technologies; Megger Group Limited; Extech Instruments Corporation; Kistler Instrument Corporation, etc. |
| Customization | Available Upon Request |
FMI projects the global demand of the Motor Testing Equipment market to expand at a 4.4% value CAGR by 2032
North America is expected to be the most opportunistic Motor Testing Equipment market, expanding at a ~4% CAGR
Sushma Industries Private Limited, M.E.A. Testing Systems Ltd., ALL-TEST Pro, LLC, Magtrol Inc, PdMA Corporation, Phenix Technologies, Megger Group Limited, Extech Instruments Corporation, Kistler Instrument Corporation, etc., among others.
1. Executive Summary 2. Industry Introduction, including Taxonomy and Market Definition 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections 5. Pricing Analysis 6. Global Market Analysis and Forecast 6.1. By Type 6.2. By Application 7. Global Market Analysis and Forecast, By Type 7.1. Portable Motor Testing Equipment 7.2. Benchtop Motor Testing Equipment 7.3. Rack-Mount Motor Testing Equipment 8. Global Market Analysis and Forecast, By Application 8.1. Design Verification 8.2. Maintenance 8.3. Others (e.g., Repair, etc.) 9. Global Market Analysis and Forecast, By Region 9.1. North America 9.2. Latin America 9.3. Western Europe 9.4. Eastern Europe 9.5. APEJ 9.6. Japan 9.7. Middle East and Africa 10. North America Sales Analysis and Forecast, by Key Segments and Countries 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries 14. APEJ Sales Analysis and Forecast, by Key Segments and Countries 15. Japan Sales Analysis and Forecast, by Key Segments and Countries 16. Middle East and Africa Sales Analysis and Forecast, by Key Segments and Countries 17. Sales Forecast by Type and Application for 30 Countries 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard 19. Company Profile 19.1. Sushma Industries Private Limited 19.2. M.E.A. Testing Systems Ltd. 19.3. ALL-TEST Pro, LLC 19.4. Magtrol Inc 19.5. PdMA Corporation 19.6. Phenix Technologies 19.7. Megger Group Limited 19.8. Extech Instruments Corporation 19.9. Kistler Instrument Corporation
Explore Testing Equipment Insights
View Reports
Motor Testing Equipment Market
