Gauss Meter Market

Gauss Meter Market Overview

The gauss meter market is likely to register a CAGR of 4.9% throughout the forecast period. The global market is anticipated to reach a share of US$ 6.5 Billion in 2032, due to increasing digitization across the globe.

The global valuation of the Gauss meter market was estimated at nearly US$ 3.8 Billion in 2021 and registered a Y-o-Y growth rate of ~4%. Fact.MR’s Gauss meter market report analyses the growth, which is presently being increasing due to the increasing digitization and increasing awareness about the power loss.

Over the next decade, the market value is likely to reach approximately US$ 6.5 Bn and will expand at a CAGR of 4.9% through 2032. This market growth is largely driven by the increasing prevalence of magnetism in electric vehicles and electric equipment.

Gaussmeter can measure and identify the direction and intensity of a magnetic field. The technology is adopted by many manufacturers, in which the concentration of electrons creates a measurable and limited voltage across the conductor.

Which are Some Prominent Drivers Spearheading Gauss meter Market Growth?

These gauss meters are handy and easy to operate and it doesn’t require high skilled professional to operate. Gauss meters are primarily professional to measure AC magnetic fields from wiring, lighting, power lines, and for other appliances.

On the other hand, these gauss meters are used by the end-users for the measurement of the steady magnetic field, which are also useful in laboratory experiments involving electromagnets. These are the primary factors, which are driving the market for gauss meters.

What are the Challenges Faced by the Gauss meter Industry?

Research laboratories and organizations need to make heavy investments in order to procure and maintain modern and advanced gauss meters. The complexity of the devices while manufacturing and maintenance expenses associated with this equipment are expected to restrict the growth of the global gauss meter market as small-sized organizations do not find it economically feasible to use an expensive Gauss meter. These are the primary factors, which are acting as a challenge for the gauss meter market growth during the assessment period.

Why is Asia-Pacific Emerging as an Opportunistic Gauss Meter Market?

China is pegged to be the fastest-growing gauss meter market, due to the initiatives being taken by the government of the country and players in the market towards technological advancements.

The Gauss meter markets in Asian countries are expected to witness high growth rates in the coming period, due to the rise in the adoption of smart electronic devices, especially in multiple industries, such as manufacturing and healthcare.

Nikhil Kaitwade

Principal Consultant

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How is Europe Contributing to the Growth of the Gauss meter Market?

Europe is expected to gain substantial gauss meter market shares in the coming years, owing to the rapid adoption of smart and handy technologies.

Owing to the development of superconducting technology and high magnetic field availability in the region, the demand for axial and transverse gauss meters is likely to expand in the foreseeable future

Why North America Holds a Significant Share in the Gauss meter Market?

On the basis of geography, the largest gauss meter market share is held by North America, owing to the presence of well-developed manufacturing companies with innovative technologies in the region.

Moreover, the presence of prominent manufacturers of gauss meters such as Magnetic Component Engineering, Inc., PCE Americas, Inc, Inspection Technologies Inc, Sepor, Inc., Oersted Technology and others have expanded the market size of gauss meters in the region, especially in the United States.

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Market Competition

Some of the key participants present in the global demand of the Gauss meter market include Lake Shore Cryotronics, Less EMF, Goudsmit Magnetics, Spectris, PCE Deutschland, Nihon Denji Sokki, Star Trace, Eclipse Magnetics, Davis InstrumentsSepor, among others. 

• PCE Instruments has recently developed gaussmeters which can be calibrated and certified according to DIN ISO 9000 standards for an additional fee. Replacement gaussmeter probes and optional accessories are available for most gaussmeter models.

Scope of Report 

Key Segments Covered in the Gauss Meter Industry Report

Classification:

• Axial Gauss Meter
• Transverse Gauss Meter

Product Type:

• General Purpose Gaussmeter
• Mechanical Test Equipment

Vertical:

• Gauss Meters for Manufacturing
• Gauss Meters for Industrial Verticals
• Gauss Meters for Other Verticals

Region:

• North America
• Latin America
• Western Europe
• Eastern Europe
• SEA & Others of APAC
• Japan
• China
• Middle East and Africa