Dublin, Oct. 21, 2024 (GLOBE NEWSWIRE) -- The "Saudi Arabia Test and Measurement Equipment Market - Size, Industry Dynamics, Opportunity Analysis and Forecast for 2024-2032" report has been added to ResearchAndMarkets.com's offering.
The Saudi Arabia Test and Measurement Equipment Market is experiencing steady growth, driven by the country's expanding industrial, telecommunications, and energy sectors. With significant investments in infrastructure, automation, and advanced technologies, industries such as oil and gas, telecommunications, automotive, and manufacturing are increasing their demand for accurate and reliable testing solutions. The market includes a wide range of equipment such as oscilloscopes, spectrum analyzers, multimeters, and network testers used to ensure product quality, compliance, and operational efficiency.
The rapid expansion of Saudi Arabia's industrial and energy sectors is significantly boosting the Test and Measurement Equipment Market. Under Vision 2030, which aims to diversify the economy beyond oil, there has been notable industrial growth across manufacturing, mining, and logistics. In 2023, Saudi Arabia saw a 10% increase in the number of factories, reaching 11,550, with nearly 1,379 new industrial licenses issued and investments exceeding $22 billion. This surge has heightened the demand for precision measurement tools like oscilloscopes, multimeters, and spectrum analyzers to ensure quality and safety in operations.
The energy sector's transition to renewables, exemplified by projects such as the ACWA Power Sudair solar plant, also drives demand for advanced equipment, including solar irradiance meters and power analyzers. The modernization of the oil and gas sector further fuels the need for testing tools like gas analyzers and flow meters. Additionally, emerging green hydrogen projects, like the NEOM Green Hydrogen Plant, create a need for specialized measurement equipment to ensure safe production and storage. Overall, the industrial and energy sector expansion under Vision 2030 is positioning Saudi Arabia's Test and Measurement Equipment Market for substantial growth.
The Saudi Arabia Test and Measurement Equipment Market is evolving, with different segments experiencing varying growth rates and market shares in 2023. The Voltmeter segment leads with the highest market share of 16.36%. This reflects the essential role voltmeters play across industries like electrical, electronics, and industrial manufacturing, where they are used to accurately measure voltage, ensuring safety and efficiency in operations. The widespread application of voltmeters underscores their importance in maintaining the performance and reliability of electrical systems. The "Others" category, which includes specialized and less commonly recognized test instruments, is expected to experience the highest compound annual growth rate (CAGR) of 6.52%. This growth reflects the increasing demand for advanced and specialized testing tools, driven by the continued evolution of various industries in Saudi Arabia. As sectors such as aerospace, electronics, and advanced manufacturing expand, the need for more diverse and customized testing solutions grows, pushing the demand for specialized equipment.
Pressure Measurement is another critical segment, holding a market share of 14.37% in 2023. Pressure measurement instruments are indispensable in industries such as oil and gas, petrochemicals, and manufacturing, where maintaining specific pressure levels is essential for operational safety, efficiency, and quality control. The dominance of this segment highlights the importance of precise pressure monitoring in Saudi Arabia's industrial landscape. Calibration Instruments are projected to have the highest CAGR of 6.25%. These instruments are crucial for ensuring the accuracy and reliability of other measurement devices used across various industries. The growing focus on modernization and digitalization in sectors like healthcare, aerospace, and telecommunications is driving the need for accurate calibration. Stringent regulatory requirements and the adoption of advanced technologies are contributing to the increased demand for precise calibration instruments.
The Energy and Power segment commands the largest share of the Test and Measurement Equipment Market at 24.13%, underscoring the essential role of these tools in Saudi Arabia's energy sector. The country's significant investments in both traditional and renewable energy projects are fueling demand for testing equipment that ensures efficiency and optimal performance in power generation and distribution systems. This segment is projected to grow at the highest CAGR of 6.17%, driven by ongoing renewable energy initiatives under Vision 2030, which aim to diversify the energy mix and reduce reliance on oil. This growth highlights the increasing importance of precise measurement tools in supporting Saudi Arabia's evolving energy landscape.
Competitive Landscape:
The Test and Measurement Equipment market is characterized by a vigorous competitive landscape, with prominent companies like Anritsu, EXFO, Fortive, Keysight Technologies, National Instruments Corporation, Rohde & Schwarz, Teledyne Technologies, VIAVI Solutions and Yokogawa Electric Corporation at the forefront, collectively accounting for more than 75% of the overall market share.
This competitive milieu is fueled by their intensive efforts in research and development as well as strategic partnerships and collaborations, underscoring their commitment to solidifying market presence and diversifying their offerings. The primary competitive factors include pricing, product caliber, and technological innovation. As the Test and Measurement Equipment industry continues to expand, the competitive fervor among these key players is anticipated to intensify. The impetus for ongoing innovation and alignment with evolving customer preferences and stringent regulations is high. The industry's fluidity anticipates an uptick in novel innovations and strategic growth tactics from these leading corporations, which in turn propels the sector's comprehensive growth and transformation.
Key Market Insights:
- Saudi Arabia's Test and Measurement Equipment Market is projected to reach US$ 0.62 billion by 2032, growing at a CAGR of 5.8%.
- Voltmeter holds the largest product type market share at 16.36%, highlighting its crucial role in various industries.
- Significant investments in industrial sectors are elevating the demand for advanced measurement tools in Saudi Arabia.
- Competitive dynamics are intensifying among leading players like Keysight Technologies and Rohde & Schwarz, who dominate over 75% of the market.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 155 |
| Forecast Period | 2023 - 2032 |
| Estimated Market Value (USD) in 2023 | $0.38 Billion |
| Forecasted Market Value (USD) by 2032 | $0.62 Billion |
| Compound Annual Growth Rate | 5.8% |
| Regions Covered | Saudi Arabia |
Key Topics Covered:
Chapter 1. Research Framework
Chapter 2. Research Methodology
Chapter 3. Executive Summary: Saudi Arabia Test and Measurement Equipment Market
Chapter 4. Saudi Arabia Test and Measurement Equipment Market Overview
4.1. Industry Value Chain Analysis
4.1.1. Material Provider
4.1.2. Manufacturer
4.1.3. Distributor
4.1.4. End User
4.2. Industry Outlook
4.2.1. Emerging Trends in the Test and Measurement Equipment Market
4.2.2. Regulatory Compliance and Standards
4.3. PESTLE Analysis
4.4. Porter's Five Forces Analysis
4.5. Market Dynamics and Trends
4.6. COVID-19 Impact Assessment on Market Growth Trend
4.7. Market Growth and Outlook
4.8. Competition Dashboard
4.8.1. Market Concentration Rate
4.8.2. Company Market Share Analysis (Value %), 2023
4.8.3. Competitor Mapping & Benchmarking
Chapter 5. Saudi Arabia Test and Measurement Equipment Market Analysis, By Product Type
5.1. Key Insights
5.2. Market Size and Forecast, 2019 - 2032 (US$ Mn & 000' Units)
5.2.1. Voltmeter
5.2.2. Ohmmeter
5.2.3. Ammeter
5.2.4. Oscilloscopes
5.2.5. Multimeters
5.2.6. Spectrum Analyzers
5.2.7. Signal Generators
5.2.8. Network Analyzers
5.2.9. Power Meters
5.2.10. Logic Analyzers
5.2.11. Electronic Counters
5.2.12. Others
Chapter 6. Saudi Arabia Test and Measurement Equipment Market Analysis, By Application
6.1. Key Insights
6.2. Market Size and Forecast, 2019 - 2032 (US$ Mn & 000' Units)
6.2.1. Calibration Instruments
6.2.2. Electronic Test Instruments
6.2.3. Dimensional Measuring Tools
6.2.4. Pressure Measurement
6.2.5. Temperature Measurement
6.2.6. Network Cable Testers
6.2.7. Environmental Testing
6.2.8. Network Cable Testers
6.2.9. Power Quality Instruments
6.2.10. Recorders/Data Loggers
6.2.11. RF Test Equipment
6.2.12. Torque & Bolting Solutions
6.2.13. Food Inspection Equipment
6.2.14. Intrinsically Safe Equipment
6.2.15. Datacom/Telecom Testing
6.2.16. Preventative/Maintenance
6.2.17. Others
Chapter 7. Saudi Arabia Test and Measurement Equipment Market Analysis, By Industry Vertical
7.1. Key Insights
7.2. Market Size and Forecast, 2019 - 2032 (US$ Mn & 000' Units)
7.2.1. Electronics and Semiconductor
7.2.2. Telecommunications
7.2.3. Automotive
7.2.4. Aerospace and Defense
7.2.5. Healthcare
7.2.6. Energy and Power
7.2.7. Education
7.2.8. Research & Development
7.2.9. Others
Chapter 8. Saudi Arabia Test and Measurement Equipment Market Analysis, By Distribution Channel
8.1. Key Insights
8.2. Market Size and Forecast, 2019 - 2032 (US$ Mn & 000' Units)
8.2.1. Online
8.2.2. Offline
Chapter 9. Saudi Arabia Test and Measurement Equipment Market Analysis, By Sales Channel
9.1. Key Insights
9.2. Market Size and Forecast, 2019 - 2032 (US$ Mn & 000' Units)
9.2.1. OEM
9.2.2. Aftermarket
Chapter 10. Company Profile
- AMETEK Inc.
- Anritsu Corporation
- EXFO Inc.
- Fluke Corporation
- Fortive
- Keysight Technologies, Inc.
- Leader Electronics Corporation
- National Instruments Corporation
- Rohde & Schwarz
- Tektronix, Inc.
- Teledyne Technologies
- VIAVI Solutions Inc.
- Yokogawa Electric Corporation
For more information about this report visit https://www.researchandmarkets.com/r/se38r8
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