Loop Testers Market Size, Share & Industry Analysis By Type(Earth Loop Testers, General Loop Testers, Others) , By Application (Consumer Electronics, Communication, Energy and Power, Traffic, Others) And Regional Forecast, 2024-2032

Loop testers are used to assess potential fault currents and evaluate earth fault loop impedance. The primary purpose of loop testing is to ensure that if a problem develops in an electrical installation, enough current will flow to trigger the fuse or circuit breaker, protecting the damaged circuit within a set time frame. The goal is to ensure that the circuit is disconnected quickly enough to avoid overheating and perhaps a fire.

The ever-increasing renewable energy industry drives the growing need for loop testing equipment for transformer, battery, power quality, and insulation testing applications. Global demographic, economic, and population growth, combined with increasing urbanization, are expected to lead to a significant rise in energy consumption in the future years. In addition to conventional applications in industries such as automotive and healthcare, defense and aerospace are investing in better technologies to increase their capabilities with sophisticated equipment and offer enhanced services to consumers, which may be relevant for market growth.

• According to the International Renewable Energy Agency (IRENA), the electricity capacity of the world's total renewable energy in 2020 was 2799094 MW. This attributes to an almost 10.3% rise compared to 2019. Out of this, hydropower constituted almost 1331889 MW or 47.6%.

The loop tester cannot work accurately at high power levels. Modern loop tests must incorporate fairly complex measurement techniques to function in modern facilities and meet customer requirements for size, weight, and performance. Since all manufacturers strive to produce the best products, all manufacturers' test methods are different, always resulting in different readings for additional products under different conditions. If the resistance in the ground loop is too high, the fault current may be too low to be detected, and the fault current will continue to flow around the primary circuit, causing a short circuit. Due to resistance being too high, the circuit protection may fail.

North America is one of the major marketplaces. The increased acquisition of sophisticated batteries by the US Army, which necessitates loop testing, is also driving the regional market expansion. The revival of the automobile industry in the United States is expected to influence sales in the forecasted period.

• Communications-Electronics Research, Development, and Engineering Center, or CERDEC, developed lithium-ion battery chemistry for the US Army and has been a success from support, performance, and cost perspectives, helping the armed forces achieve a USD 100 million cost avoidance.


• According to the International Energy Agency, the United States registered 231,000 Battery EVs and 64,000 Plug-In EVs in 2020. The growing automobile sector, especially the electric vehicle sector, drives the loop tester demand.

IMPACT OF COVID-19 ON THE LOOP TESTERS MARKET

The loop testers market is expected to take a significant amount of time before recovering from the impact of the COVID-19 pandemic due to lowered energy requirements from all sectors.

• In 2020, the number of registered battery EVs in the US was 231,000, and plug-in EVs were 64,000. This number portrayed a 9.8% decrement compared to 2019.

Although the industrial landscape is slowly gaining momentum due to the easing of COVID-19 restrictions, loop testers' demand is anticipated to rise slower. In 2021, the U.S. EIA projected electricity demand to grow slower by 3% compared to previous projections.

KEY INSIGHTS

The report will cover the following key insights:

• Recent Advancements in Loop Testers


• Key Industry Trends


• Regulatory Landscape for Loop Testers


• Key Industry Developments (Mergers, Acquisitions, and Partnerships)


• Impact of COVID-19 on the Market

ANALYSIS BY APPLICATION

According to the application, the loop testers market is divided into consumer electronics, communication, energy and power, traffic, and others. During the forecast period, the energy and power category will have the most significant market share. Adoption of advanced loop testers and growth in installing heavy electrical machinery or equipment in various industrial sectors will drive up demand for this segment. Adoption and installation of electric machinery are expected to drive category expansion during the projected period.

REGIONAL ANALYSIS

Companies in Europe are expected to flourish in the automobile industry, creating a profitable market for manufacturers and suppliers. In addition, the market's expansion will be aided by Europe's well-established electronic sector and other sectors. During the projected period, the Asia-Pacific region is predicted to increase at the fastest rate. Increased electrification and associated activities in the region's developing economies, such as China, India, and Japan, are expected to demand industrial loop testers. Furthermore, a rise in preventative maintenance standards in many industries is projected to positively influence the region's business.

KEY PLAYERS COVERED

The report will include profiles of key players such as Megger - Electrical/Electronic Manufacturing, Aegis Pty. Ltd., Avo Automation, Exceltech, GNW Instrumentation, HellermannTyton Global, Kyoritsu KEW India Instruments Pvt. Ltd., Major Tech, PeakTech Prüf- und Messtechnik, and Socket & See.

SEGMENTATION

KEY INDUSTRY DEVELOPMENTS

• Megger introduced the new MFT1741 multifunction installation tester in 2019, which tames the test that has caused the most irritation for electricians: the loop test. According to Simon Wood, Megger's European Distribution Manager, knowledge of the MFT1741's exceptional loop test performance is quickly spreading throughout the industry.


• Hioki's portable BT3554-50 battery internal loop tester, which was released in 2021, evaluates the degradation and remaining life of UPS and other lead-acid batteries by providing a comprehensive diagnostic through battery resistance testing. With an L-shaped tip that allows deep into the battery racks to thoroughly probe the terminals, the specially designed L2020 Pin Type Lead enhances testing efficiency.