NEW YORK, May 12, 2021 /PRNewswire/ -- The global circuit tracer market by end-user (service providers, industrial, and commercial) and geography (APAC, North America, Europe, South America, and MEA) has been added to Technavio's offering. The global circuit tracer market is expected to grow by USD 11.56 million, at a CAGR of almost 2% during 2021-2025.
The outbreak of COVID-19 negatively impacted the growth of the market in 2020. Disruptions in the supply chain led to a decline in energy demand and new capacity installations. However, rising investments in renewable energy are expected to increase the demand for circuit tracers and reduce the impact of the pandemic on market growth.
The market is expected to be driven by factors such as the timely identification of faults with circuit tracers, the growing demand for power, and the increasing demand for ethernet.
Circuit Tracer Market: Opportunities
Countries across the world are aiming to improve their manufacturing sector by encouraging the adoption of automation and IoT technologies. Also, the rising volume of data generation is increasing investments in the security and maintenance of data centers. This is increasing the demand for circuit tracers, which is creating opportunities in the market.
Circuit Tracer Market: Segmentation by End-user
Based on the segmentation by end-user, the market generated maximum revenue in the service providers segment in 2020. The segment is driven by the increasing demand for facility management from commercial spaces such as offices, hospitals, malls, airports, and railway stations. Also, a rise in the number of hospitals and airports will contribute to the growth of the segment during the forecast period.
Circuit Tracer Market: Segmentation by Geography
APAC held the largest market share in 2020 and the market growth in the region is expected to be the fastest compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the rising investments in data centers led by the rapid penetration of smartphones and the internet. In addition, rapid industrialization and the rising adoption of automation technologies will fuel the growth of the circuit tracer market in APAC during the forecast period.
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Circuit Tracer Market: Major Vendors
Emerson Electric Co.
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.
The company offers products such as temporary light strings, fish tapes, wire caddies, and others. The company offers CT105 - Audible Circuit Tracer.
Fortive Corp.
The company offers critical technical equipment, components, software and services for manufacturing, repair, and transportation markets worldwide. The company offers Fluke 2042 cable locator.
IDEAL INDUSTRIES INC.
The company offers a wide range of electrical products such as wire connectors, cable stackers, etc. The company offers SureTrace range of circuit tracers.
Klein Tools Inc.
The company offers a wide range of products through its group of companies, which are Alco, CBS Products, Civitella, Ergodyne, GMP, Klein Cutlery, Mumme Tools, Super Rod, Tulmex, and Wattmaster. The company offers digital circuit breaker finder ET300 and circuit breaker finder accessory kit 69411.
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Executive Summary
Market Landscape
Market Sizing
Five Forces Analysis
Market Segmentation by End-user
Customer landscape
Geographic Landscape
Vendor Landscape
Vendor Analysis
Appendix
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