Product Code: ETC369984 | Publication Date: Aug 2023 | Product Type: Market Research Report | |
Publisher: 6Wresearch | No. of Pages: 75 | No. of Figures: 35 | No. of Tables: 20 |
The India test and measurement equipment market import shipments experienced sluggish growth with a minimal CAGR from 2020-2024. However, there was a notable uptick in growth from 2023-2024, indicating a potential resurgence in market activity. Overall, the market showed signs of stabilization with a slight positive momentum towards the end of the period.
The test and measurement equipment market size in India is estimated at around $464 Million in the coming years. It is projected that it will grow more than 9 percent annually between 2025?2025, owing to factors such as rising technological advancements in industrial automation solutions, an increase in end-user industries like the automotive industry, IT/telecom industry, and increasing government investments towards infrastructure development projects across various countries worldwide including India which are driving the market growth.
The test and measurement equipment market in India is witnessing robust growth due to its wide-ranging applications in industries such as electronics, telecommunications, automotive, and aerospace. The increasing demand for consumer electronics, coupled with stringent quality standards and regulations in various sectors, is driving the need for accurate and reliable testing equipment. Moreover, the growing adoption of 5G technology and the Internet of Things (IoT) is boosting the demand for advanced test and measurement equipment to ensure optimal performance and functionality. The shift towards Industry 4.0 and smart manufacturing practices is also contributing to the uptake of test and measurement equipment in India industries to improve product quality and operational efficiency.
One of the key challenges is the lack of awareness and knowledge about the importance of temperature monitoring among small-scale enterprises and businesses. This can lead to improper handling and storage of temperature-sensitive products, compromising their quality and efficacy. The high initial investment required for installing and maintaining temperature monitoring systems can be a barrier, particularly for small businesses and healthcare facilities with limited budgets. Additionally, the need for regular calibration and validation of temperature monitoring systems is essential to ensure accurate readings and compliance with industry regulations.
The test and measurement equipment market in India experienced mixed impacts from the COVID-19 pandemic. While some segments, such as electronic test and measurement equipment, faced temporary disruptions due to supply chain challenges and reduced manufacturing activity, others, like medical and healthcare test equipment, witnessed increased demand to support COVID-19 testing and research. Key players in this market, including Keysight Technologies, Rohde & Schwarz, and Fluke Corporation, diversified their product portfolios to cater to the specific needs arising from the pandemic. Additionally, the increased focus on research and development in healthcare and pharmaceuticals further drove the demand for specialized test and measurement equipment. As the economy recovers and industries regain stability, the test and measurement equipment market is expected to resume steady growth across various sectors.
The test and measurement equipment market in India is experiencing steady growth, driven by the increasing demand for quality assurance in various industries like electronics, automotive, and telecommunications. Key players in this market include multinational companies like Keysight Technologies, Rohde & Schwarz, Anritsu Corporation, and Fluke Corporation. These companies offer a comprehensive range of test and measurement equipment, including oscilloscopes, spectrum analyzers, multimeters, and network analyzers, catering to diverse industrial applications. They focus on continuous innovation and product upgradation to provide cutting-edge solutions for precise and efficient testing. Key players also collaborate with India manufacturing companies and research institutes to provide localized support and training for their test and measurement equipment.