About Multimeters
A multimeter is also known as a volt-ohm meter, which is a handheld tester used to measure electrical voltage, current, resistance, and other values. Analog and digital multimeter are available and are useful for everything from simple tests, like measuring battery voltage, to detecting faults and complex diagnostics. These tools are highly preferred by electricians for troubleshooting electrical problems on motors, appliances, circuits, power supplies, and wiring systems. Multimeters are also used as an ammeter, a voltmeter, an ohmmeter by functioning a multi-position knob on the meter. They can measure DC as well as AC. Detecting a short circuit, testing transistors and some have additional features for measuring capacitance & frequency are some special functions in a multimeter.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The companies are exploring the market by adopting mergers & acquisitions, expansions, investments, new service launches and collaborations as their preferred strategies. The players are exploring new geographies through expansions and acquisitions to avail a competitive advantage through combined synergies. Analyst at AMA Research estimates that United States Manufacturers will contribute the maximum growth to Global Multimeters market throughout the forecasted period. Established and emerging Manufacturers should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Keysight Technologies (United States), Gossen Metrawatt (Germany), National Instruments (United States), Tektronix (United States), Yokogawa Electric Corporation (Japan), Fluke Corporation (United States), FLIR Systems (United States), B&K Precision (United States), Chauvin Arnoux (France), Hioki E.E. Corporation (Japan), Sanwa Electric Instrument Company (Japan), Rohde & Schwarz (Germany), Teledyne Lecroy (United States) and Klein Tools (United States) are some of the key players that are part of study coverage. Additionally, the Manufacturers which are also part of the research coverage are HT Italia (Italy), GS Instech (South Korea), Kyoritsu Electrical Instrument Works (Japan), Shenzen Everbest Machinery Industry (China) and Mastech Group (Hong Kong).
Segmentation Overview
AMA Research has segmented the market of Global Multimeters market by Type (Digital and Analog), Application (Voltage Measurements, Current Measurements, Resistance Measurement, Frequency Measurement and Others) and Region.
On the basis of geography, the market of Multimeters has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channel, the sub-segment i.e. Online will boost the Multimeters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Portability, the sub-segment i.e. Handheld will boost the Multimeters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by End-Use, the sub-segment i.e. Automotive will boost the Multimeters market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Application-Specific Product Development and Continuous Addition of New Features
Market Growth Drivers:
Rising Penetration of Electronic Devices across End-Use Industries and Low Cost and Versatility of Digital Multi-meters
Challenges:
Incorrect Operation and Inappropriate Multi-meter Selection
Restraints:
Competition from Small Local Manufacturers Selling Cheap Low-Quality Products
Opportunities:
Growing use of Multi-meters with Rechargeable Batteries
Market Leaders and their expansionary development strategies
In September 2023, Amprobe and Chauvin Arnoux started collaboration and this collaboration combined Amprobe's expertise in electrical testing with Chauvin Arnoux's strong presence in Europe, expanding the reach of both brands in the global market.
In September 2023, Amprobe AM-5700 Ground Resistance Tester. This specialized multimeter from Amprobe caters to the specific needs of electricians, offering accurate ground resistance measurements for safety compliance. It's also equipped with features like a data logger and Bluetooth connectivity for convenient analysis.
Key Target Audience
Manufacturers of Multimeter, Suppliers of Multimeter, Wholesalers, Distributors and Retailers of Multimeter, Electronic Industry, Automotive Industry and Others
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.