NEW YORK, Feb. 23, 2021 /PRNewswire/ -- Technavio announces the release of its latest report on the circuit tracer market. The market is segmented by end-user (service providers, industrial, and commercial) and geography (APAC, North America, Europe, South America, and MEA). Get a Free Sample Report Delivered Instantly
The report offers an in-depth analysis of recent developments, changes in market regulations, product approvals, product launches, and the market behavior across various segments.
Circuit Tracer Market: Key Findings
Circuit tracer market value to grow by USD 11.56 million at almost 2% CAGR during 2021-2025
31% of market growth to originate from APAC during the forecast period
Based on the end-user, the service providers segment will offer maximum opportunities for vendors during the forecast period
Circuit tracer market is expected to have a negative impact due to the spread of COVID-19
Circuit Tracer Market: Growth Drivers
Timely identification of faults with circuit tracers is one of the prime factors driving the growth of the market. Circuit tracers ensure a safe, quick, and dependable way to identify faults in an electrical circuit. Other benefits include ease in tracing wires, identifying insulation leakage, and identifying dead circuits. For example, in old buildings, identifying dead circuits is not easy. However, with the help of circuit tracers, the dead circuits can be easily identified, and wrong documentation, if any, can be rectified. This saves time and resources for both electricians and end-users. Such benefits are expected to drive the demand for circuit breakers during the forecast period.
"Growing demand for power and the increasing demand for Ethernet will further boost market growth during the forecast period," says a senior analyst at Technavio.
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Circuit Tracer Market: Major Vendors
Emerson Electric Co.
Emerson Electric Co. operates its business through segments such as Automation Solutions and Commercial and Residential Solutions. The company offers coaxial cable identification kit: the 402K, PULSE-GROUND FAULT LOCATOR, TRACKER II-CABLE LOCATOR (501), BLL-200 Buried Line Locator, and 508S-G Wire Finder.
ETCON Corp. operates its business through the Unified segment. The company offers CT105 - Audible Circuit Tracer.
FLIR Systems Inc.
FLIR Systems Inc. operates its business through segments such as Industrial, Government and Defense, and Commercial. The company offers Extech CB10, Extech CB20, Extech CB10-KIT.
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