The global power device analyzer market size was US$ 458.5 million in 2021. The global power device analyzer market size is forecast to reach US$ 699.18 million by 2030, growing at a compound annual growth rate (CAGR) of 4.8% during the forecast period from 2022 to 2030.

A power device analyzer measures the flow of power in an electrical system. Basically, it measures the different flows of power, including direct current (DC), alternating current (AC), AC-voltage, and DC-voltage. Thus, it helps maximize the value of power electronic products by enabling the selection of the correct power device for the specific application. Several types of electrical power meters are available, including those used for inverters, home appliances, testing power electronics, lighting, motors & drives, and industrial machines. Due to its wide range of voltage and current and other features, it is capable of measuring all types of devices.

Factors Influencing Market Growth

• Growing demand for highly engineered and energy-efficient electronic products and investments, in particular in the consumer electronics and healthcare industries, is driving the global industry's growth.
• Different government agencies are creating policies and programs to promote the use of renewable energy resources to decrease carbon emissions, thus encouraging global market growth. 
• Numerous organizations are offering comprehensive energy testing solutions with the help of power device analyzers, which, in turn, will accelerate industry growth in the near future.

Impact Analysis of COVID-19

The COVID-19 pandemic has negatively affected the market for power device analyzers. COVID-19 delayed the expansion of the power device analyzer market since governments were required to impose lockdowns for all of 2020, thereby lowering their demand. As a result of stringent restrictions, governments and municipalities did not pay enough attention to the growth of the end-user sector. A disruption in supply chain and production occurred throughout the year, posing a threat to the power device analyzer.

Regional Insights

The Asia Pacific region accounts for the largest revenue share in the market. Due to countries like China, India, Australia, and a growing middle class, the Asia Pacific region has emerged as an important hub for industrial production. The surge in demand for electric vehicles (EVs) and stricter government regulations have supported the regional market growth. The continued prominence of Asia as a manufacturing hub has aided industrialization, with South East Asia having an increasingly important role. Moreover, the tremendous growth in economic development and the rise in energy consumption are driving the market demand. The increasing preference for renewable energy sources also supports market demand across APAC.

North America is forecast to show progressive growth over the forecast period. The steadily growing regional market can be attributed to the deployment and application of test and measurement equipment in wireless networks and communications. Moreover, BMW, Tesla, and Volkswagen have manufacturing plants in the region, creating various lucrative opportunities for the region.

Leading Competitors

The leading prominent companies profiled in the global power device analyzer market are:

• Arbiter Systems Incorporated
• Carlo Gavazzi Holding
• Circutor
• Dewetron
• Fluke Corporation
• Hioki E.E. Corporation
• Iwatsu Electric
• Keysight Technologies
• Magtrol Incorporated
• Newtons4th
• Rohde & Schwarz
• Texas Instruments
• Vitrek Corporation
• Yokogawa Electric Corporation
• Zes Zimmer
• Other Prominent Players

Scope of the Report

The global power device analyzer market segmentation focuses on Type, Current, End-Use, and Region.

Segmentation based on Type

• Both Alternating Current circuits (AC) or Direct current systems (DC)
• Alternating Current circuits (AC)
• Direct-current systems (DC)

Segmentation based on Current

• Below 1000 A
• Above 1000 A

Segmentation based on End-Use

• Automotive
• Energy
• Consumer Electronics & Appliances
• Telecommunication
• Medical
• Others

Segmentation based on Region

• North America
• The U.S.
• Canada
• Mexico
• Europe
• Western Europe
• The UK
• Germany
• France
• Italy
• Spain
• Rest of Western Europe
• Eastern Europe
• Poland
• Russia
• Rest of Eastern Europe
• Asia Pacific
• China
• India
• Japan
• Australia & New Zealand
• ASEAN
• Rest of Asia Pacific
• Middle East & Africa (MEA)
• UAE
• Saudi Arabia
• South Africa
• Rest of MEA
• South America
• Brazil
• Argentina
• Rest of South America