The Europe Test and Measurement Equipment Market would witness market growth of 4.0% CAGR during the forecast period (2023-2030).
The aerospace and defense industries will be heavily dependent on test and measurement products. For example, every form of security agency is boosting attempts to detect the existence of unmanned aerial vehicles (UAVs) or drones in unauthorized spaces, so communication is essential in this industry. A spectrum analyzer can be used to achieve this. Therefore, various T&M tools, including power meters, spectrum analyzers, signal generators, vector network analyzers (VNAs), and long-distance communication equipment, are needed for the crucial testing of many defense-specific components.
An essential component of a communication network is testing and measuring the devices, equipment, and signals. Therefore, any advancement in the communication network will benefit the market. Due to the development of 5G technology as well as data centers, the communication industry is currently undergoing numerous shifts.
The visible outcome of a procedure that includes conformity assessment in the broadest sense is the CE marking as well as the supplemental metrology marking, which indicates the conformance of a measuring device. In accordance with Regulation (EC) No. 765/2008, general guidelines for CE marking are provided. As a result, all industries in the region, especially the automotive and healthcare sectors, must test and measure their products before marketing them. Therefore, the region has immense growth opportunities for test and measurement equipment manufacturers.
The Germany market dominated the Europe Test and Measurement Equipment Market by Country in 2022 and would continue to be a dominant market till 2030; thereby, achieving a market value of $2,801.2 million by 2030. The UK market is estimated to grow a CAGR of 3.1% during (2023 - 2030). Additionally, The France market would display a CAGR of 4.8% during (2023 - 2030).
Based on Offering, the market is segmented into Product (General Purpose Test Equipment, and Mechanical Test Equipment), and Services (Calibration Services, Repair or After Sale Services, Others). Based on Vertical, the market is segmented into Industrial, Automotive & Transportation, Electronics & Semiconductor, Education & Government, Healthcare & Dental, Aerospace & Defense, Manufacturing, Telecom & IT, and Others. Based on countries, the market is segmented into Germany, UK, France, Russia, Spain, Italy, and Rest of Europe.
Free Valuable Insights: The Worldwide Test and Measurement Equipment Market is Projected to reach USD 45.6 Billion by 2030, at a CAGR of 4.7%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include Viavi Solutions, Inc., Yokogawa Electric Corporation, Keysight Technologies, Inc., Fortive Corporation (Tektronix, Inc.), Ametek, Inc., Rohde & Schwarz GmbH & Co. KG, Anritsu Corporation, Advantest Corporation, Teledyne FLIR LLC (Teledyne Technologies Incorporated), and EXFO, Inc.
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