Global Electronic Load Market Report and Forecast 2024-2032

Global Electronic Load Market Outlook

The global electronic load market size stood at a value of around USD 3.76 billion in 2023. The market is further expected to grow in the forecast period of 2024-2032 at a CAGR of 6.70% to reach USD 6.74 billion by 2032.

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Heightened Application of DC Electronic Loads in Various Electronic Equipment to Augment the Market

The increasing applications of DC electronic load in electrical devices which store and convert energy, is driving the segment’s growth. The product is also witnessing a heightened application in testing sources of DC, such as batteries, solar panels, LED drivers, and fuel cells, among others, which is further augmenting the segment growth.

Over the forecast period, the anticipated increase in demand for fuel cells due to the increasing transition from tradition vehicles to fuel cell vehicles is likely to be a boon for the electronic load market. In addition to this, the product is also expected to witness an escalated application for DC source testing in automotive charging stations.

North America Occupies a Sizable Share in the Market for Electronic Load

The market in the North America region is being driven by the technologically advanced wireless communication infrastructure in the United States of America and Canada. In addition to this, the thriving automotive industry in the region owing to the increasing sales of fuel cell or battery driven vehicles is further boosting the demand for electronic loads. Moreover, the increasing research and development activities in various end use industries, coupled with the high military expenditure of the United States are anticipated to accelerate the market in the coming years.

Market Segmentation

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Electronic load is defined as programmable electrical equipment which is used to provide load to the outputs of a power supply by being set to a particular resistance value. In other words, electronic load transforms the consumed current into various forms such as heat, light, and mechanical energy, etc.

Based on voltage, the market can be segmented into:

• Low (0V–150V)

• Medium (0V–600V)

• High (0V–1,200V)

By current, the electronic load market has been bifurcated into:

• Alternating Current (AC)

• Direct Current (DC)

On the basis of type, the market has been categorised into:

• Standalone

• Modular

• Mainframe

The significant applications for the market are as follows:

• Converters

• Fuel Cells

• Batteries

• UPSs

• Inverters

• Others

The market can be broadly categorised based on end use into:

• Aerospace, Defence, and Government Services

• Automotive

• Wireless Communication and Infrastructure

• Energy

• Others

The regional markets for the product include North America, Europe, the Asia Pacific, Latin America, and the Middle East and Africa.

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Increasing Applications in the Aerospace and Defence Sector to Boost the Growth of the Electronic Load Industry

The global electronic load market is being driven by the increasing focus on the manufacture of consumer electronics owing to the rapid digitalisation, rising disposable income, and increasing complexity of power infrastructure in urban areas. Meanwhile, the increasing application of electronic loads in the aerospace and defence sector, to increase the efficiency of military-grade power electronics and to improve the energy storage and distribution is further propelling the market growth.

Over the forecast period, there is an anticipated increase in incorporation of military-style battery terminals and custom-made power conversion solutions. These are aimed at providing better insights in a mission and are likely to lead to greater emphasis of military equipment manufacturers on the production of electronic loads.

The heightened demand for integrated AC and DC power supplies in various end use industries such as energy, is likely to generate a significant demand for electronic loads in the coming years. Furthermore, the market is anticipated to be aided by the growing research and development activities by the power equipment manufacturers. They are likely to lead to the development of innovative wireless communication technologies in the forecast period, thereby, invigorating the market growth.

Key Players in the Global Market for Electronic Load

The report gives a detailed analysis of the following key players in the global electronic load market, covering their competitive landscape, capacity, and latest developments like mergers, acquisitions, and investments, expansions of capacity, and plant turnarounds:

• Keysight Technologies, Inc.

• National Instruments Corporation

• Chroma ATE Inc.

• B&K Precision Corporation

• Good Will Instrument Co., Ltd.

• ITECH ELECTRONIC CO., LTD.

• Others

The comprehensive EMR report provides an in-depth assessment of the market based on the Porter's five forces model along with giving a SWOT analysis.

Key Highlights of the Report