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Clamp Meter Market

Clamp Meter Market by Modularity, End User, End-Use Industry & Region - Forecast 2022-2032

Market Insights on Clamp Meter covering sales outlook, demand forecast & up-to-date key trends

Clamp Meter Market Outlook

The clamp meter market is likely to strengthen its hold in the global market at a moderate CAGR of 7.5% during the forecast period. The global market holds a forecasted revenue of US$ 32.13 Bn in 2022 and is likely to cross US$ 61.35 Bn by the end of 2032.

The clamp meter market is anticipated to show promising growth prospects during the forecast period, expanding the clamp meter market size.

Attributes

Details

CAGR (2022-2032)

7.5%

Value (2022)

US$ 32.13 Bn

Value (2032)

US$ 61.35 Bn

A clamp meter is an electrical test equipment that mixes a basic digital multimeter and current sensor system, measuring the current around connected cable or wires by clamping this device around. Multiple clamp meters are designed for industry-specific applications. Some of these applications are on-field services, measurement safety, etc. Its use is also prominent in manufacturing units like electronics, electrics, construction, and automotive, fueling the sales of clamp meter units.

Its easy-to-use approach and portability are its USPs and are pushing the sales of clamp meter systems in the forecast period.

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What are the Key Drivers and Restraints to the Clamp Meter Market

Electronics and Electrical industries are rapidly expanding in regions such as the Asia Pacific and North America. Thus, advanced clamp meters are used to test the electric and other instruments in the manufacturing sector. Moreover, advanced clamp meters are used for the verification and certification process. These factors are forecasted to increase the growth of the clamp meter market.

Furthermore, increasing power generation and construction industries are creating a significant demand for the clamp meter. The various types of wires and electric instruments used in the power generation industry demand clamp meters for maintenance purposes.

Also, clamp meters are used in the construction industry for checking the electrical power in complex wiring. These factors are boosting the growth of the market. Moreover, the demand for clamp meters is increasing due to the growing automotive industry. Portable clamp meters are used to measure the electric power of components in these industries.

Nikhil Kaitwade
Principal Consultant
LinkedIn
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Which is the Key Clamp Meter Market

North America and Europe have a significant market share of clamp meters in terms of manufacturing, which is witnessed by the high presence of prominent players in these regions. Moreover, East Asia dominated the significant market share. The Asia Pacific countries such as China and India have a large market share in terms of manufacturing due to the presence of global and local players. Such as Fluke Corporation and Yokogawa Corporation, increasing the sales of clamp meters.

Moreover, the Asia Pacific, including Japan and North America regions, are highly dominant in the growth of the market in terms of consumption due to the increasing expansion of end-use industries. The expanding electronics and power generation industries in these regions are forecasted to boost the growth of the clamp meter market.

Also, Europe has a significant market share of clamp meters due to the rapidly growing automotive industry. The U.S., China, and India hold a maximum share of the clamp meter market due to their strong distribution channel. MEA has been forecasted as an emerging region for the clamp meter market because of increasing industrialization. This pushes the sales of clamp meters worldwide.

The Clamp Meter Market report is a compilation of first-hand information, qualitative and quantitative assessments by industry analysts, and inputs from industry experts and industry participants across the value chain. The report provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. The market report also maps the qualitative impact of various market factors on market segments and geographies, pushing the demand for clamp meters worldwide.

Which are the Key Competitors of the Clamp Meter Market

The key players of the Clamp meter market are focusing on mergers and collaborations that are fueling the sales of Clamp meter. 

Key players in the clamp meter market include Fluke Corporation, PCE Instruments, HIOKI E.E.Corporation, Yokogawa Coprporation, Meco Instruments Pvt. Ltd., Extech Instruments, Eltex, Klein Tools, Innova Electronics, Etekcity Corporation, Kaito Electronics Inc, Craftsman, Amprobe, Mastech Digital and Crenova Ampng.

Recent Market Development:

  • Fluke Corporation has upgraded its series of clamp meters that comes with simple-to-use, grab and go tools and compact spaces. This pushes the sales of clamp meter systems.
  • PCE instruments have introduced clamp meter that is upgraded versions of measuring instrument. This pushes the sales of clamp meters worldwide.
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Report Scope

Report Attribute

Details

Growth Rate

CAGR of 7.5% from 2022 to 2032

Base year for estimation

2021

Historical data

2015 - 2020

Forecast period

2022 - 2032

Quantitative units

Revenue in USD Billion, volume in kilotons, and CAGR from 2022 to 2032

Report coverage

Revenue forecast, volume forecast, company ranking, competitive landscape, growth factors, and trends, Pricing Analysis

Segments covered

Modularity, End User, End User Industry

Regional scope

North America; Western Europe, Eastern Europe, Middle East, Africa, ASEAN, South Asia, Rest of Asia, Australia and New Zealand

Country scope

U.S.; Canada; Mexico; Germany; U.K.; France; Italy; Spain; Russia; Belgium; Poland; Czech Republic; China; India; Japan; Australia; Brazil; Argentina; Colombia; Saudi Arabia; UAE; Iran; South Africa

Key companies profiled

Fluke Corporation, PCE Instruments, HIOKI E.E.Corporation, Yokogawa Coprporation, Meco Instruments Pvt. Ltd., Extech Instruments, Eltex, Klein Tools, Innova Electronics, Etekcity Corporation, Kaito Electronics Inc, Craftsman, Amprobe, Mastech Digital and Crenova Ampng

Customization scope

Free report customization (equivalent to up to 8 analysts working days) with purchase. Addition or alteration to country, regional & segment scope.

Pricing and purchase options

Avail customized purchase options to meet your exact research needs.

Frequently Asked Questions

North America and Europe are the biggest markets in the clamp meter market and will be helpful in increasing the clamp meter market size. The factors that lead to high growth throughout this region are increased manufacturing industry, huge capital investments and construction industry. This leads to the high demand for clamp meter in developing countries like China and India.

Key competitors holding substantial Clamp meter market share include Fluke Corporation, PCE Instruments, HIOKI E.E.Corporation, Yokogawa Coprporation, Meco Instruments Pvt. Ltd., Extech Instruments, Eltex, Klein Tools, Innova Electronics, Etekcity Corporation, Kaito Electronics Inc, Craftsman, Amprobe, Mastech Digital and Crenova Ampng

Demand for Clamp meter is likely to increase with its use in manufacturing units, construction industry and increasing need for power. This pushes the sales of clamp meter in new markets.

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Nikhil Kaitwade
Principal Consultant
LinkedIn
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