Global Ohm Meter Market to Register Exponential Compound Annual Growth Rate Through 2028

By Shashiipawar    5 / Feb / 2019    In Category Business

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Ohm Meter Market: Overview

An ohm meter is an electronic instrument that measures the resistance of any electrical or electronic equipment. Basically, Ohm meter measures the opposition of an electric current in an electrical or electronic equipment. Ohm meter has an electronic circuit that passes a constant current through the resistance and also measures the voltage across the resistance. The measured value is converted from analog to digital converter then microprocessor recognize the current and voltage according to the ohm’s law and decode it to display a binary value. The unit of measurement of resistance is ohms (Ω). Ohm meter also measures the low as well as large resistances. There are two types of ohm meters micro-ohm meters and meg-ohm meter. 

Ohm Meter Market: Dynamics

The increasing research & development spending by government and public authorities is one of the prominent growth factor in the ohm meter market. With the significant number of end use industries using the Ohm Meter for measuring the resistance is also one of the key factor for the growth of ohm meter market. Moreover, the demand for durable equipment is noted to be continuously driven throughout the historic period and the same trend is expected to follow over the forecast period. The replacement rate of Ohm Meter is witnessed to be high as these electronics equipment once be malfunction we have to replace it. This is also one of the factor for the growth of the ohm meter market. Furthermore, setting up of new research laboratories due to the rising focus towards research in the fields of electronics can also be said to have a significant impact on the ohm meter market.

The increasing sales of multi-meter can adversely affect the growth of ohm meter market over the forecast period. Precision manufacturing and demand for accuracy are some of the factors contributing to the demand for the digital multi-meter, which further creating obstacles in the ohm meter market growth. Ohm meter with digital displays are seen to be one of the key trend in the ohm meter market. This trend is expected to become driver for the growth of ohm meter market over the forecast period. 

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Ohm Meter Market: Segmentation

Ohm Meter Market can be segmented by Product Type and by End Use:-

On the basis of Product Type, the global Ohm Meter market can be segmented into:-

  • Analog Ohm Meter

  • Digital Ohm Meter 

On the basis of end use, the global Ohm Meter market can be segmented into:- 

  • Electrical Industry

  • Electronics Industry

  • Automotive Industry

  • Industrial Automation

  • Analytical Laboratory Testing

  • Power & Energy  

Ohm Meter Market: Prominent Participants

Examples of some of the market participants operating in the global Ohm Meter market are as follows:

  • Vinicas, Inc.

  • TW Controls

  • PCE Instruments

  • FLIR Systems

  • Wells Vehicle Electronics

  • Simpson

  • IET Labs, Inc

  • Scientific Mes Technik Pvt.Ltd

  • Midland Scientific Inc.

  • Fisher scientific

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Ohm Meter Market: Regional wise Outlook 

Regionally, Asia Pacific is expected to be on forefront in the global ohm meter market owing to increasing industrialization as well as significant growth in Electrical and Electronics industry. In Asia Pacific, China is estimated to dominate the electronics market and holds more than 50% share in the Asia Pacific electronic industry. Furthermore, Emerging economies such as India, also grow with healthy growth rate in the automotive, electrical & electronics industries which propel the demand for ohm meter over the forecast period. Japan is also growing with significant growth rate owing to increase in industrial automation as well as electric vehicles. North America is expected to hold significant share in the global ohm meter market owing to considerable applications in the end use industries. Europe ohm meter market is anticipated to grow at a steady rate owing to the stringent regulations regarding the standards in the electrical & electronics industries in the region. Ohm meter market is expected to grow globally closely following the electronic industry growth.

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