Handheld Digital Multimeter Market Report: Trends, Forecast and Competitive Analysis to 2030

Handheld Digital Multimeter Market Report: Trends, Forecast and Competitive Analysis to 2030

Handheld Digital Multimeter Trends and Forecast

The future of the global handheld digital multimeter market looks promising with opportunities in the industrial, automotive, and general purpose markets. The global handheld digital multimeter market is expected to reach an estimated $0.9 billion by 2030 with a CAGR of 6.0% from 2024 to 2030. The major drivers for this market are rapid industrialization in developing nations, such as China and India and high demand of testing & calibration devices in different industries.

A more than 150-page report is developed to help in your business decisions. Sample figures with some insights are shown below.

Handheld Digital Multimeter by Segment

The study includes a forecast for the global handheld digital multimeter by type, ranging type, end use industry, and region.

Handheld Digital Multimeter Market by Type [Shipment Analysis by Value from 2018 to 2030]:

• 3.5 Digit
• 4.5 Digit

Handheld Digital Multimeter Market by Ranging Type [Shipment Analysis by Value from 2018 to 2030]:

• Manual Ranging
• Auto Ranging

Handheld Digital Multimeter Market by End Use Industry [Shipment Analysis by Value from 2018 to 2030]:

• Industrial
• Automotive
• General Purpose
• Others

Handheld Digital Multimeter Market by Region [Shipment Analysis by Value from 2018 to 2030]:

• North America
• Europe
• Asia Pacific
• The Rest of the World

List of Handheld Digital Multimeter Companies

Companies in the market compete on the basis of product quality offered. Major players in this market focus on expanding their manufacturing facilities, R&D investments, infrastructural development, and leverage integration opportunities across the value chain. With these strategies handheld digital multimeter companies cater increasing demand, ensure competitive effectiveness, develop innovative products & technologies, reduce production costs, and expand their customer base. Some of the handheld digital multimeter companies profiled in this report include-

• Fluke
• Keysight
• Teledyne
• MGL International
• Yokogawa
• RS Components & Controls
• CEM Instruments
• UniTEQ
• HIOKI E.E.
• Hach

Handheld Digital Multimeter Market Insights

Lucintel forecasts that auto ranging is expected to witness higher growth over the forecast period due to highest usage of highly accurate reading devices across several end-uses.

Within this market, industrial will remain the largest segment due to increasing need for troubleshooting and maintaining electrical equipment, such as motors, generators, and control systems.

APAC is expected to witness highest growth over the forecast period due to the presence of the world’s largest electronic manufacturing companies operate in the region along with the availability of cheap labor and raw materials.

Features of the Global Handheld Digital Multimeter Market

Market Size Estimates: Handheld digital multimeter market size estimation in terms of value ($B).

Trend and Forecast Analysis: Market trends (2018 to 2023) and forecast (2024 to 2030) by various segments and regions.

Segmentation Analysis: Handheld digital multimeter market size by type, ranging type, end use industry, and region in terms of value ($B).

Regional Analysis: Handheld digital multimeter market breakdown by North America, Europe, Asia Pacific, and Rest of the World.

Growth Opportunities: Analysis of growth opportunities in different type, ranging type, end use industry, and regions for the handheld digital multimeter market.

Strategic Analysis: This includes M&A, new product development, and competitive landscape of the handheld digital multimeter market.

Analysis of competitive intensity of the industry based on Porter’s Five Forces model.

FAQ

Q.1 What is the handheld digital multimeter market size?

Answer: The global handheld digital multimeter market is expected to reach an estimated $0.9 billion by 2030.

Q.2 What is the growth forecast for handheld digital multimeter market?

Answer: The global handheld digital multimeter market is expected to grow with a CAGR of 6.0% from 2024 to 2030.

Q.3 What are the major drivers influencing the growth of the handheld digital multimeter market?

Answer: The major drivers for this market are rapid industrialization in developing nations, such as china and india and high demand of testing & calibration devices in different industries.

Q4. What are the major segments for handheld digital multimeter market?

Answer: The future of the handheld digital multimeter market looks promising with opportunities in the industrial, automotive, and general purpose markets.

Q5. Who are the key handheld digital multimeter market companies?

Answer: Some of the key handheld digital multimeter companies are as follows:

• Fluke
• Keysight
• Teledyne
• MGL International
• Yokogawa
• RS Components & Controls
• CEM Instruments
• UniTEQ
• HIOKI E.E.
• Hach

Q6. Which handheld digital multimeter market segment will be the largest in future?

Answer: Lucintel forecasts that auto ranging is expected to witness higher growth over the forecast period due to highest usage of highly accurate reading devices across several end-uses.

Q7. In handheld digital multimeter market, which region is expected to be the largest in next 5 years?

Answer: APAC is expected to witness highest growth over the forecast period due to the presence of the world’s largest electronic manufacturing companies operate in the region along with the availability of cheap labor and raw materials.

Q.8 Do we receive customization in this report?

Answer: Yes, Lucintel provides 10% customization without any additional cost.

This report answers following 11 key questions:

Q.1. What are some of the most promising, high-growth opportunities for the handheld digital multimeter market by type (3.5 digit and 4.5 digit), ranging type (manual ranging and auto ranging), end use industry (industrial, automotive, general purpose, and others), and region (North America, Europe, Asia Pacific, and the Rest of the World)?

Q.2. Which segments will grow at a faster pace and why?

Q.3. Which region will grow at a faster pace and why?

Q.4. What are the key factors affecting market dynamics? What are the key challenges and business risks in this market?

Q.5. What are the business risks and competitive threats in this market?

Q.6. What are the emerging trends in this market and the reasons behind them?

Q.7. What are some of the changing demands of customers in the market?

Q.8. What are the new developments in the market? Which companies are leading these developments?

Q.9. Who are the major players in this market? What strategic initiatives are key players pursuing for business growth?

Q.10. What are some of the competing products in this market and how big of a threat do they pose for loss of market share by material or product substitution?

Q.11. What M&A activity has occurred in the last 5 years and what has its impact been on the industry?

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