Global Circuit Tracer Market 2018-2022 | Rising Demand for Power to Drive Growth | Technavio
LONDON--(BUSINESS WIRE)--Dec 31, 2018--The global circuit tracer market research report by predicts the market to post a CAGR of close to 3% during the period 2018-2022.
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Technavio predicts the global circuit tracer market to post a CAGR of close to 3% by 2022. (Graphic: Business Wire)
A key driver for the global circuit tracer market is the growing demand for power. The rising industrialization and urbanization have been driving the demand for power. The increased focus on digitization and automation in regions such as North America and Europe has resulted in extensive use of equipment that relies heavily on power. The industrial growth in developing countries of Asia and Africa such as China, India, Indonesia, Malaysia, Vietnam, South Africa, and Nigeria has led to a high demand for power.
This research report also provides an analysis of the most important trends expected to impact the market outlook during the period 2018-2022. Technavio classifies an emerging trend as a major factor that has the potential to significantly impact the market and contribute to its growth or decline.
In this report, Technavio highlights the growing need for circuit tracers in railways as one of the key trends in the global circuit tracer market:
Global circuit tracer market: Growing need for circuit tracers in railways
Railways is a significant mode of transportation worldwide, predominantly Europe and Asia. A shift toward low-carbon emission transportation has resulted in the electrification of railways. This is driving the demand for circuit tracers. The safety and reliability of these trains become a critical issue as railways are achieving its goal of complete electrification.
“By using circuit tracers, faults can be located quickly without severe service disruption. This leads to improved service due to less downtime and high level of safety. The need for high-speed mass transportation has been increasing, especially in Asia. Many countries in Asia have planned metro railway projects in urban areas. This is expected to drive the demand for circuit tracers in the railway sector in Asia,” says a senior research analyst at Technavio.
Global circuit tracer market: Segmentation analysis
This circuit tracer market analysis report segments the market by end-user (service providers, industrial, and commercial) and geography (the Americas, APAC, and EMEA).
The service providers segment held the largest circuit tracer market share in 2017, accounting for over 45% of the market. This end-user segment is expected to dominate the global market throughout the forecast period.
The APAC region led the market in 2017 with more than 39% of the market share, followed by EMEA and the Americas respectively. The APAC region is expected to dominate the market throughout the period 2018-2022.
Technavio’s sample reports are free of charge and contain multiple sections of the report such as the market size and forecast, drivers, challenges, trends, and more.
Some of the key topics covered in the report include:
Market LandscapeMarket ecosystem Market characteristics Market segmentation analysis
Market SizingMarket definition Market size and forecast
Five Forces Analysis
Geographical SegmentationRegional comparison Key leading countries
Vendor LandscapeVendors covered Vendor classification Market positioning of vendors Competitive scenario
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PUB: 12/31/2018 05:02 AM/DISC: 12/31/2018 05:02 AM