ElectroniCast is forecasting a slowdown in consumption for this year and a sluggish recovery through 2023, caused by the negative effects of the coronavirus (COVID-19)
April 2, 2020 – ElectroniCast (www.electronicast.com), a leading market and technology research consultancy addressing the electrical and photonics industries, today announced the release of an extensive study report covering the worldwide market for both Power Analyzers and Power Quality Analyzers.
Power analyzer (PA) is a type of test equipment that measures various electrical power characteristics of devices that generate, transform, or consume electricity. Power Quality Analyzers (PQA) measure both current and voltage, and detect dips, swells, fast transients, harmonics, power factor, and a host of other parameters that are useful for advanced power troubleshooting.
Power Analyzers The forecast for power analyzers (only), show that during the 1st-half of the forecast period (2019-2024), the global consumption value is set to increase from $480 million in 2019 to $594.5 million in 2029; however, because of the impact on production, sales, shipment and implementation caused by the negative effects of the coronavirus (COVID-19), ElectroniCast is forecasting a slowdown or negative movement in consumption in 2020 and a sluggish recovery for the next few years.
“The use of Power Analyzers in the North America region, which includes Mexico, Canada, and the United States, is forecast to reach $128.9 million in 2029. Europe, in 2019, represented nearly 20% of the relative market share of the worldwide Power Analyzer (PA) consumption value,” said Stephen Montgomery, principal analyst at ElectroniCast.
According to the market study, the Rest of the World region (including Central/South America, Africa, and the Middle East) also is forecast with higher annual growth versus the other regions, as countries in the region become more developed. The Central/South America region, especially, is showing continued infrastructure growth, including electrical and other utilities, as well as manufacturing capability.
“Helped along substantially by impressive consumption volume (quantity) in the People’s Republic of China (PRC), the Asia Pacific region (APAC) will maintain the (volume) leadership role; however, average selling prices (ASPs) in APAC are typically lower versus North America and Europe and to some degree, the Rest of World region,” Montgomery added.
Market forecast data in this study report refers to consumption (use) for a particular calendar year; therefore, this data is not cumulative data.
Power Quality Analyzer
(Separated market forecast from the Power Analyzer market forecast data)
“The global consumption value of Power Quality Analyzers (PQA) is also impacted the negative effects of the coronavirus (COVID-19), we forecast a slowdown or negative movement in consumption in 2020 and a sluggish recovery for the next few years,” Montgomery said.
During the 1st-half of the forecast period (2019-2024), the consumption value for Power Quantity Analyzers (PQAs) is forecast to increase at an average annual growth rate of 5.2%, and 5.1% percent annually from 2024-2029.
This market forecast report is available immediately from ElectroniCast. For detailed information on this or other services provided by ElectroniCast, please contact the consulting firm at www.electronicast.com
ElectroniCast, founded in 1981, specializes in forecasting trends in technology forecasting, markets and applications forecasting, strategic planning and consulting. ElectroniCast, as a technology-based independent forecasting firm, serves industrial companies, trade associations, government agencies, communication and data network companies and the financial community. Reduction of the risk of major investment decisions is the main benefit provided. ElectroniCast’s goal is to understand the challenges and opportunities facing clients and to provide timely, accurate information for strategic planning.
ElectroniCast www.electronicast.com
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