Electronic Load Market Report 2024

The electronic load market size has grown strongly in recent years. It will grow from $2.95 billion in 2023 to $3.16 billion in 2024 at a compound annual growth rate (CAGR) of 7%. During the historic period, growth can be attributed to a heightened focus on energy efficiency, greater adoption of electric vehicles, increased demand, rising investments, and the proliferation of wireless communications.

The electronic load market size is expected to see strong growth in the next few years. It will grow to $4.15 billion in 2028 at a compound annual growth rate (CAGR) of 7.1%. In the forecast period, growth is driven by increased emphasis on renewable energy, investments in aerospace and defense, and expansion in the automotive and energy sectors. Key trends anticipated in this period include a growing demand for wireless communication infrastructure, the development of highly energy-efficient products, ongoing research and development initiatives, and technological innovations in power electronics.

The electronic load market is experiencing growth driven by the expanding utilization of renewable energy sources. These resources, replenished naturally and consumed sustainably, are increasingly favored due to heightened concerns over climate change and the imperative to reduce carbon emissions. Renewable energy sources play a pivotal role in electronic loads by facilitating efficient testing, validation, and operation of power systems, all while bolstering sustainability efforts and minimizing environmental impact. For example, by 2022, the European Union had achieved a 23% share of its gross final energy consumption from renewable sources, marking a 1.1% increase from the previous year as reported by the European Commission. This trend underscores how the growing reliance on renewable energy sources is a significant driver behind the burgeoning electronic load market.

Key players in the electronic load market are prioritizing the development of automated process control systems to enhance testing precision and operational efficiency. These integrated technologies utilize sensors, controllers, and actuators to manage and optimize industrial processes autonomously, reducing human intervention while improving efficiency, consistency, and safety. For example, in November 2022, EA Elektro-Automatik GmbH & Co.KG introduced its Industrial Series 60 kW DC Power Supplies and Loads. These models offer a broad range of voltage and current capacities, from 360 V to 2000 V and 80 A to 480 A for the 60 kW series, and from 60 V to 2000 V and 40 A to 1000 A for the 30 kW series. Engineers can select from 21 models in the 60 kW series and 29 models in the 30 kW series to suit specific applications, enabling them to optimize rack space and achieve greater power efficiency in high-power systems.

In April 2024, Tektronix acquired EA Elektro-Automatik (EA) to enhance its portfolio of power electronics design solutions. This acquisition integrates Tektronix's measurement equipment expertise with EA's regenerative power supplies, expanding Tektronix's offerings in programmable DC electronic loads and reinforcing its position in the market.

Major companies operating in the electronic load market are Delta Electronics Inc., EA-Electronics GmbH, Ametek Programmable Power, Tektronix Inc., Keysight Technologies, Advantest Corporation, National Instruments Corporation, Chroma ATE Inc., Teledyne LeCroy, TDK-Lambda Corporation, RIGOL Technologies Inc., Kikusui Electronics Corporation, NF Corporation, EA Elektro-Automatik GmbH & Co. KG, Good Will Instrument Co. Ltd., OMICRON Lab, NH Research Inc., B&K Precision Corporation, Boonton Electronics Corporation, Pacific Power Source Inc., ITECH Electronic Co. Ltd., Maynuo Electronic Co. Ltd., Manson Engineering Industrial Ltd., Yokogawa Electric Corporation.

North America was the largest region in the electronic load market in 2023. Asia-Pacific is expected to be the fastest-growing region in the forecast period. The regions covered in the electronic load market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

The countries covered in the electronic load market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Electronic loads are programmable devices utilized to simulate electrical loads for testing power sources such as batteries and power supplies. They enable precise manipulation of voltage, current, and resistance to assess performance across different scenarios. These devices play a crucial role in the research, development, and quality assurance of electrical products.

The primary product categories in the electronic load market include direct current (DC) electronic loads, alternating current (AC) electronic loads, modular electronic loads, and other specialized types. DC electronic loads are programmable or variable loads designed to draw controlled amounts of current or power from DC sources such as batteries, power supplies, or solar panels. They come in various load capacities, categorized as below 600 volts (V) and above 600 volts (V), and are available in benchtop and rack-mounted configurations. These devices find applications across diverse industries including electronics manufacturing, automotive, aerospace and defense, telecommunications, and renewable energy.

The electronic load market research report is one of a series of new reports that provides electronic load market statistics, including electronic load industry global market size, regional shares, competitors with a electronic load market share, detailed electronic load market segments, market trends and opportunities, and any further data you may need to thrive in the electronic load industry. This electronic load market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenario of the industry.

The electronic load market consists of sales of power supplies, batteries, bench power supplies, and power sources. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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