Motor Testing Equipment Market

Motor Testing Equipment Market Overview

Global Motor Testing Equipment demand is projected to be valued at US$ 2.72 Billion in 2022, forecast to grow at a CAGR of 4.4% to be valued at US$ 4.2 Billion from 2022 to 2032. Growth is attributed to the rising demand for renovation projects and development in residential and commercial construction.

Report Attribute	Details
Estimated Base Year Value (2021)	US$ 2.6 Billion
Expected Market Value (2022)	US$ 2.72 Billion
Anticipated Forecast Value (2032)	US$ 4.2 Billion
Projected Growth Rate (2022-2032)	4.4% CAGR

Motor testing equipment is used to measure and estimate various performance parameters and electrical characteristics of motors. They are of many types including single-phase motor testing equipment and three-phase motor testing equipment. Motor testing equipment can be either offline where no power is supplied to the motor or online where the power supply is required.

Motor testing equipment is used to improve the lifespan and efficiency of motors. Motor testing equipment has inbuilt series of tests that are sequenced automatically and they complete the tests quickly with high accuracy.

Which are Some Prominent Drivers Spearheading Motor Testing Equipment Market Growth?

Motors have a wide range of industrial, residential, and commercial applications and are used in pumps, elevators, compressors, refrigerators, and fans. Therefore, the demand for motors might increase due to their use in various electrical products, and thus, the market for motor testing equipment might also rise as the motors will require maintenance and repairing for efficient functioning.

The changing lifestyle and increase in disposable income have resulted in a surging demand for automobiles, but the growth in this market has contributed to the rise in the emission of greenhouse gases and is increasing the risk of health hazards, and thus, the demand for electric-vehicle and cars might increase in future. The growth in the market for electric-vehicle and cars will increase the demand for motors, and thus, the motor testing equipment market is also expected to grow.

What are the Challenges Faced by the Motor Testing Equipment Industry?

The high cost linked with the buying and maintenance of automatic test equipment acts as a key barrier to early adoption, which hinders the growth of the market.

Why is Asia-Pacific Emerging as an Opportunistic Motor Testing Equipment Market?

The increase in industrialization might also serve as one of the drivers for the motor equipment market. Industrialization is expected to increase at a very high rate in countries in the Asia Pacific region, especially in India, China, etc. Thus, the use of motors will also rise with the increase in industrialization because it has application in various electrical devices, and therefore, might have a positive impact on motor testing equipment.

How is Europe Contributing to the Growth of the Motor Testing Equipment Market?

Owing to the benefits presented by motor testing equipment, the market has observed rising demand from plentiful end-use industries - such as automotive. As the automotive industry is prospering backed by the ongoing trend of electric vehicles have boosted the industry growth across the region.

Since automotive testing is directly associated with the manufacturing of vehicles, the demand is likely to be an upsurge in the forthcoming future.  Due to the increasing disposable income of people in European countries, the demand for vehicles has increased.

Why does North America Hold a Significant Share in the Motor Testing Equipment Market?

Several North American governments are employing novel track inspection criteria to upsurge the operational efficiency of railway activities. For instance, in August 2020, the U.S. Department of Transportation's (DoT's) Federal Railroad Administration (FRA) offered to the Federal Register a final rule asserting the usage of ultrasonic inspection technology enabling railroads to execute incessant rail testing activities, which updated with GPS technology.

Moreover, on account of the rising application of automated test equipment in the aerospace & defense sector, the market has gained huge traction, especially in the countries like U.S & Canada. Regional Governments are taking initiatives to promote chip manufacturing and cater to the market progression from the military, aerospace & defense sectors. The government is also allocating funds for the continuous testing of the vehicles to ensure safety and increase the efficiency of the automobile.

Market Competition

Some of the key participants present in the global demand for Motor Testing Equipment market include Sushma Industries Private Limited, M.E.A. Testing Systems Ltd., ALL-TEST Pro, LLC, Magtrol Inc, PdMA Corporation, Phenix Technologies, Megger Group Limited, Extech Instruments Corporation, Kistler Instrument Corporation, etc., among others. 

• M.E.A. Testing Systems develops and supplies state-of-the-art electric motor test equipment to many of the leading manufacturers and users throughout the world. M.E.A. testing systems can be found in a wide range of locations, including R&D laboratories, production and assembly lines, in the field, and educational institutions around the world.

Scope of Report

Report Attribute	Details
Growth Rate	CAGR of 4.4% from 2022 to 2032
Base Year for Estimation	2021
Historical Data	2016-2021
Forecast Period	2022-2032
Quantitative Units	Revenue in USD Billion, Volume in Kilotons and CAGR from 2022-2032
Report Coverage	Revenue Forecast, Volume Forecast, Company Ranking, Competitive Landscape, Growth Factors, Trends and Pricing Analysis
Segments Covered	Type Application Region
Regions Covered	North America Latin America Western Europe Eastern Europe APEJ Japan Middle East and Africa
Key Countries Profiled	U.S Canada Brazil Argentina Germany U.K France Spain Italy Nordics BENELUX Australia & New Zealand China India ASEAN GCC South Africa
Key Companies Profiled	Sushma Industries Private Limited, M.E.A. Testing Systems Ltd., ALL-TEST Pro, LLC, Magtrol Inc, PdMA Corporation, Phenix Technologies, Megger Group Limited, Extech Instruments Corporation, Kistler Instrument Corporation, etc.
Customization	Available Upon Request

Key Segments Profiled in the Motor Testing Equipment Industry Survey

Type:

• Portable Motor Testing Equipment
• Benchtop Motor Testing Equipment
• Rack-Mount Motor Testing Equipment

Application:

• Design Verification
• Maintenance
• Others (e.g., Repair, etc.)

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• APEJ
• Japan
• Middle East and Africa

Frequently Asked Questions

What is the anticipated growth of the Motor Testing Equipment market until 2032?

FMI projects the global demand of the Motor Testing Equipment market to expand at a 4.4% value CAGR by 2032

Which region is forecast to be the most lucrative for Motor Testing Equipment market growth?

North America is expected to be the most opportunistic Motor Testing Equipment market, expanding at a ~4% CAGR

Which are some prominent Motor Testing Equipment manufacturers?

Sushma Industries Private Limited, M.E.A. Testing Systems Ltd., ALL-TEST Pro, LLC, Magtrol Inc, PdMA Corporation, Phenix Technologies, Megger Group Limited, Extech Instruments Corporation, Kistler Instrument Corporation, etc., among others.