Digital Clamp Meter Market - Forecasts from 2023 to 2028

The digital clamp meter market is expected to grow at a CAGR of 4.21% during the forecast period.

The digital clamp meter is a portable and versatile electrical testing device used to measure electrical current without direct contact with the tested circuit. It consists of a digital multimeter (DMM) combined with a current sensor or clamp that can be opened and placed around a live conductor to measure the current flowing through it. A digital clamp meter can be used in electrical & electronics, automotive, construction, and industrial applications. It allows a non-intrusive current measurement, making it safe and convenient to use in live circuits. Growing emphasis on accurate electrical measurements in the applications mentioned above, coupled with their bolstering growth is driving the demand for digital clamp meters, propelling their market expansion.

The increased electrical & electronics production is driving the demand for digital clamp meters.

The electrical and electronics industry encompasses various applications, including manufacturing, maintenance, repair, and installation of electrical systems and devices. In all these areas, precise measurement of electrical parameters is essential for ensuring safety, quality, and optimal performance. Digital clamp meters provide a convenient and efficient solution for measuring current, voltage, resistance, and other electrical parameters without direct contact with live circuits. The increase in the production of electronic devices has increased the need for precise measurements of electrical currents during manufacturing, quality control, and maintenance processes. According to the India Brand Equity Foundation report in 2022, electronics production in India increased rapidly from US$ 37.1 billion in 2015-16 to US$ 67.3 billion in 2020-21. The growth in the production of electrical and electronic appliances will boost the demand for digital clamp meters, thereby augmenting the overall market growth.

The growing automotive sector will boost the digital clamp meters market growth.

The need for precise electrical measurements becomes crucial as vehicles become more advanced and reliant on electrical and electronic systems. Digital clamp meters provide an efficient and safe method for automotive technicians and electricians to measure current, voltage, and other electrical parameters in various automotive systems. Digital clamp meters offer a non-intrusive way to measure electrical currents without disconnecting wires to diagnose electrical faults, check battery voltage, or test sensors and actuators. The automotive industry's increasing focus on hybrid and electric vehicles further amplifies the demand for digital clamp meters, as these vehicles have high-voltage systems that require accurate and safe current measurements. The continuous growth in the automotive industry will drive the demand for digital clamp meters. According to the International Organization of Motor Vehicle Manufacturers (OICA), global vehicle production increased by 7.9% from 2021 to 2022. According to the International Council on Clean Transportation (ICCT), global electric vehicle production will increase by 40% in 2022, reaching 8.2 million vehicles, with an increase of 2.3 million vehicles compared to 2021.

The Asia-Pacific region is expected to hold a significant market share throughout the forecast period.

The Asia-Pacific region will account for a significant market share owing to growing automotive production, the adoption of electric vehicles, and the region being the hub of major electrical and electronics manufacturing countries like China and India. In 2022, the Production-Linked Incentive Plan (PLI) of India, which encompasses 14 industries and a total investment of Rs 3 lakh crore (US$ 38.99 billion), was allocated to promote manufacturing in the nation; approximately 80% of investment was concentrated in three areas: solar panel manufacture, automobile manufacturing, and electronics manufacturing. In 2020, the New Energy Vehicle Industry Development Plan (2021-2035) was unveiled by the Chinese State Council to create a policy framework to support the new energy vehicle industry's high-quality development between 2021 and 2035. Such developments in the automotive and, electrical & electronic industries will boost the demand for digital clamp meters in the Asia Pacific, thereby accelerating the regional market growth.

Market Developments:

• September 2022: Martindale Electric unveiled its new CM Series range of professional clamp meters, CM55 AC Clamp, and clamps meet the exacting requirements of electricians and service teams working on both AC and DC systems, from basic AC measurements to min/max monitoring of start-up and charging currents.
• March 2022: Fluke launched clamp meters Fluke 377 FC with non-contact voltage measurements to make electrical testing safer and allow technicians to make rapid electrical tests without the danger of coming into contact with hazardous live parts.
• April 2021: Klein Tools® launched the new advanced L440 HVAC Clamp Meter” with automatically ranging true root mean square (TRMS) for maximum accuracy, and the digital clamp measures 600.0 Amps AC and inrush current.

Market Segmentation:

By Current Type

• AC
• DC
• AC/DC

By Application

• Construction
• Electrical & Electronics
• Automotive
• Manufacturing
• Others

By Geography

• North America
• USA
• Canada
• Mexico
• South America
• Brazil
• Argentina
• Others
• Europe
• Germany
• UK
• France
• Spain
• Others
• Middle East and Africa
• Saudi Arabia
• UAE
• Others
• Asia Pacific
• China
• Japan
• South Korea
• India
• Australia
• Others