Handheld segment to dominate the Saudi Arabia Digital Multimeter market till 2026
Launch of digitally advanced
meters and the rise in the energy requirements are expected to drive the demand
of Saudi Arabia Digital Multimeter market through the forecast period.
According
to TechSci Research report, “Saudi
Arabia Digital Multimeter Market By Type (Handheld, Bench-Top, Mounted) By
Functionality (Auto Ranging, Clamp Digital, Fluke Digital) By Application
(Automotive, Manufacturing, Consumer Electronics, Industrial, Residential,
Commercial), By Region, Company Forecast & Opportunities, 2026”, The Saudi Arabia Digital Multimeter market is expected to
grow at a steady rate during the forecast period. A digital multimeter is an
electronic device and is used for the measurement and testing process of the
electronics and electrical industry. Digital multimeters are also known as the
advanced standard diagnostic tool to measure values with high accuracy. Digital
multimeters can be used for the measurement of different parameters Digital
multimeters can be used for the measurement of the AC and DC quantities which
make it preferable among the electricians for measurement purposes. Digital
multimeters are highly accurate as they display the results in numeric values
which lowers the chances of error and makes it easier to use. Digital
multimeters are equipped with an auto polarity function which makes it easier
for the user to establish the perfect connection by selecting the correct
polarity. The growing demand from the industries to measure with higher
accuracy the frequency, resistance, temperature, and others. The growing energy
requirements in Saudi Arabia owing to the rapid urbanization and
industrialization is influencing the demand for digital multimeters in the next
five years. The rise in the demand for dual display resolution and the need to
maintain accuracy during measurements and tests is leading to the growth of the
digital multimeter market.
The COVID-19 outbreak across the world which has been
declared as a pandemic by World Health Organization has affected several
countries adversely. Leading authorities of Saudi Arabia imposed lockdown
restrictions and released a set of precautionary measures to contain the spread
of novel coronavirus. Manufacturing units were temporarily suspended which
negatively affected the digital multimeter market growth. Workers moved back to
their native places which created a shortage of workforce at the manufacturing
units. Import and export activities were restricted and disruption in the
supply chain was observed which adversely affected the digital multimeter market
growth.
However, the digital multimeter is more expensive than
the analog multimeters and the lack of compatibility with some devices may
restrain the growth of the Digital Multimeter market.
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Saudi
Arabia Digital Multimeter market is segmented into type, functionality,
application, regional distribution, and company. Based on type, the market can
be divided into handheld, bench-top, and mounted. The handheld digital
multimeter is expected to account for a major market share in the forecast
period, 2022-2026. It is cost-effective and is portable which makes it easier
to carry around for measurement of electrical and electronic devices. The
growing automotive industry and the surge in the energy requirements owing to
the rising population requires the use of digital multimeters for measuring
electrical parameters. Based on the application, the market can be divided into
automotive, manufacturing, consumer electronics, industrial, residential, and
commercial. The automotive industry is expected to account for a major market
share in the next five years owing to the high sales of automobiles in the
region. Digital multimeters are used for the accurate measurement of electrical
parameters such as voltage, resistance, current, and capacitance. Digital
multimeters are used for testing and diagnosing purposes in the vehicle
batteries and find the issues relating to the engine and sound systems.
Fluke Corporation, Extech Instruments,
Yokogawa, Amprobe, AEMC Instruments, Megger Group, Flir Systems, Dwyer
Instruments, Transmille, Metrel, among others are some of the leading players
operating in Saudi Arabia Digital Multimeter market. Companies operating in the
market are using strategies such as joint ventures, product launches, mergers,
and research collaborations to boost their share and increase their geographic
reach.
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“The
growing concern regarding the growing pollution levels and to achieve the Saudi
Vision 2030 which aims to achieve sustainable developments and adopt cleaner
energy solutions is expected to boost the demand for electrical vehicles in the
region. The growing demand for autonomous and connected vehicles is anticipated
to create lucrative opportunities for the digital multimeter market growth as
these vehicles require the use of electronic devices and components. The rise
in demand for consumer electronics and the automotive industry along with the
strong economic growth of Saudi Arabia is expected to propel the growth of the
digital multimeter market through 2026” said Mr. Karan Chechi, Research Director with TechSci Research, a
research based global management consulting firm.
“Saudi Arabia Digital Multimeter Market By Type
(Handheld, Bench-Top, Mounted) By Functionality (Auto Ranging, Clamp Digital,
Fluke Digital) By Application (Automotive, Manufacturing, Consumer Electronics,
Industrial, Residential, Commercial), By Region, Company Forecast &
Opportunities, 2026”, has
evaluated the future growth potential of Saudi Arabia Digital Multimeter market
and provides statistics & information on market size, structure and future
market growth. The report intends to provide cutting-edge market intelligence
and help decision makers take sound investment decisions. Besides, the report
also identifies and analyzes the emerging trends along with essential drivers, challenges,
and opportunities in Saudi Arabia Digital Multimeter market.
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