LCR Meters Market Size, Share, Opportunities, And Trends By Type (Handheld, Benchtop), By Current (AC, DC), By End-Users (Electric & Electronics, Medical & Healthcare, Aerospace, Others), And By Geography - Forecasts From 2023 To 2028
- Published : Jul 2023
- Report Code : KSI061615691
- Pages : 146
The LCR meters market is anticipated to grow at a steady rate during the forecast period. An LCR meter is a specialized device utilized in electronics to precisely quantify the characteristics of electronic components, specifically their inductance, capacitance, and resistance. The LCR meter market caters to a wide range of end users, including the electrical and electronics industry, medical and healthcare, aerospace, and various other industries. The growing electronics and medical coupled technological advancements are driving the LCR meters industry growth.
Rise in electronics production bolster the LCR meter market growth.
LCR meters are extensively used in electronics production as they provide accurate measurement and characterization of electronic components such as capacitors, inductors, and resistors, ensuring their quality and functionality. This helps manufacturers maintain consistent product performance and reliability. The increase in electronics production is driven by rising consumer demand for electronic devices. The demand for LCR meters is directly correlated to the growth in electronics production as manufacturers require these instruments to verify component specifications. According to Japan Electronics & Information Technology Industries Association, in 2022, the production value of electronic equipment in Japan amounted to 823.522 billion Yen (JPY) a 23.2% increase in 2023, resulting in a substantial increase to 1039.559 billion JPY.
Emerging medical device production drives the LCR meter market expansion.
LCR meters are used in medical devices for their capability to measure the inductance, capacitance, and resistance of electronic components, which is crucial for ensuring the accuracy and functionality of medical devices. The production of medical devices is increasing due to government policies that prioritize healthcare infrastructure development, technological advancements, and improved access to medical services. For instance, according to the Ministry of Chemicals and Fertilizers, in April 2023, the Union Cabinet, approved the National Medical Devices Policy, 2023, aiming to boost the medical devices sector to a projected growth of $50 Bn in the next five years from its current $11 Bn.
Booming electronic vehicle production drives LCR meter market growth.
LCR meters are used in Electric Vehicles (EVs) to determine parameters such as inductance, capacitance, and resistance, allowing engineers to test and ensure the performance and efficiency of key components like electric motors, power electronics, and battery systems. This is crucial in EV manufacturing as these components play a vital role in the performance and efficiency of electric powertrain systems. Electric vehicle production is witnessing a surge due to increasing demand from consumers which has expanded the LCR meter market size. According to International Energy Agency, in 2021, 6.6 million electric cars were sold witnessing a significant surge of 9% compared to 2020. Consequently, the total number of electric cars on the road reached an impressive figure of 16.5 million.
The Asia-Pacific region is anticipated to dominate the LCR meter market.
The Asia-Pacific will hold a significant share of the LCR meter market due to its booming medical device production. LCR meters are extensively used in the manufacturing and quality control processes of medical devices. These devices are vital for measuring and analyzing the electrical properties of components, such as resistors, capacitors, and inductors, ensuring their accuracy and functionality. According to the International Trade Administration, in 2020, India's total local production of medical devices reached 4,474 devices, showing a significant increase of 87.2% compared to the previous year. Also, China's State Council announced a CNY1.70 trillion (US$246.40 billion) loan incentive policy in September 2022, as part of an economic stimulus package, aimed at boosting the country's medical device market.
Technological advancements restrain the LCR meter market growth.
The cost factor poses a significant restraint on the growth of the LCR meter market, particularly when it comes to the adoption by small businesses and budget-constrained customers. LCR meters, especially those equipped with advanced features and capabilities, are often considered relatively expensive. The higher cost associated with these advanced models can deter potential users who may have limited financial resources or budget constraints. Additionally, budget-constrained customers may opt for alternative measurement devices or methods that offer a more cost-effective solution for their specific needs.
- January 2023: GW Instek unveiled the latest addition to its LCR-8200 series, the LCR-8200A high-frequency LCR meter. This extended series offers test frequencies up to 50MHz, accompanied by a vibrant 7-inch color display and exceptional measurement accuracy (0.08%), matching its predecessor. The LCR-8200A provides flexibility in presenting measurement results either numerically or graphically, depending on the chosen mode, enabling users to comprehensively assess the characteristics of the Device Under Test (DUT) for optimal analysis and evaluation.
- March 2022: Farnell introduced the groundbreaking R&S LCX series of LCR meters by Rohde & Schwarz. Setting a new standard in the test and measurement sector, this innovative series offers an extended frequency range of up to 10 MHz for AC components, making it the first general-purpose LCR meter with such capabilities.
- March 2022: Rohde & Schwarz launched a cutting-edge LCR meter family, providing high-performance impedance testers designed to serve a wide array of applications with exceptional versatility and accuracy. The R&S LCX stands out with its extensive frequency range spanning from 4 Hz to 10 MHz, making it suitable for a wide array of devices, including those operating at conventional 50 or 60 Hz domestic power frequencies, 400 Hz for aircraft, as well as low-frequency seismic sensors and high-power communication circuits operating at multiple Megahertz.
- Model 880: The Model 880, offered by B&K Precision Corporation, features a fast auto-range design that enables quick and effortless component measurements. With its auto-detect mode, the instrument can automatically identify the component type and select the appropriate measurement mode (exclusive to the 880 model). It offers a primary display with a resolution of 40,000 counts and a secondary display with a resolution of 10,000 counts, providing users with precise and detailed measurements.
- By Type
- By Current
- By End-Users
- Electric & Electronics
- Medical & Healthcare
- By Geography
- North America
- South America
- Middle East and Africa
- Saudi Arabia
- Asia Pacific
- South Korea
- North America
1.1. Market Overview
1.2. Market Definition
1.3. Scope of the Study
1.4. Market Segmentation
1.7. Base, and Forecast Years Timeline
2. RESEARCH METHODOLOGY
2.1. Research Data
3. EXECUTIVE SUMMARY
3.1. Research Highlights
4. MARKET DYNAMICS
4.1. Market Drivers
4.2. Market Restraints
4.3. Porter’s Five Force Analysis
4.3.1. Bargaining Power of Suppliers
4.3.2. Bargaining Power of Buyers
4.3.3. Threat of New Entrants
4.3.4. Threat of Substitutes
4.3.5. Competitive Rivalry in the Industry
4.4. Industry Value Chain Analysis
5. LCR METERS MARKET ANALYSIS, BY TYPE
6. LCR METERS MARKET ANALYSIS, BY CURRENT
7. LCR METERS MARKET ANALYSIS, BY END-USERS
7.2. Electrical & Electronics
7.3. Medical & Healthcare
8. LCR METERS MARKET ANALYSIS, BY GEOGRAPHY
8.2. North America
8.3. South America
8.5. Middle East and Africa
8.5.1. Saudi Arabia
8.6. Asia Pacific
8.6.3. South Korea
9. COMPETITIVE ENVIRONMENT AND ANALYSIS
9.1. Major Players and Strategy Analysis
9.2. Emerging Players and Market Lucrativeness
9.3. Mergers, Acquisitions, Agreements, and Collaborations
9.4. Vendor Competitiveness Matrix
10. COMPANY PROFILES
10.1. B&K Precision Corporation
10.2. HIOKI E.E. CORPORATION
10.3. Newtons4th Ltd
10.4. Rohde & Schwarz
10.5. Meco Instruments Pvt. Ltd
10.6. Zurich Instruments AG
10.7. NF Corporation
10.8. Scientific Mes-Technik Pvt. Ltd.
10.9. Good Will Instrument Co., Ltd
B&K Precision Corporation
HIOKI E.E. CORPORATION
Rohde & Schwarz
Meco Instruments Pvt. Ltd
Zurich Instruments AG
Scientific Mes-Technik Pvt. Ltd.
Good Will Instrument Co., Ltd
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