Dublin, July 04, 2025 (GLOBE NEWSWIRE) — The “Industrial Multimeters – Global Strategic Business Report” has been added to ResearchAndMarkets.com’s offering.
The global market for Industrial Multimeters was estimated at US$730.1 Million in 2024 and is projected to reach US$874.8 Million by 2030, growing at a CAGR of 3.1% from 2024 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions.
How Are Technological Advancements Shaping the Industrial Multimeters Market?
Technological innovations have significantly transformed industrial multimeters, making them smarter, more accurate, and highly adaptable to evolving industrial needs. One of the most impactful advancements is the integration of wireless connectivity, including Bluetooth and Wi-Fi, allowing technicians to monitor electrical parameters remotely through mobile apps and cloud-based dashboards. This capability reduces the need for direct contact with high-voltage systems, enhancing safety and enabling real-time data logging and analytics.
The adoption of artificial intelligence (AI) and machine learning (ML) in diagnostic tools has further improved fault detection accuracy, with smart multimeters now capable of identifying abnormal patterns in electrical readings and suggesting corrective measures.
Another major trend is the development of true-RMS (root mean square) measurement technology, which ensures precise readings even in environments with fluctuating loads and non-linear signals, such as industrial motor control centers and variable frequency drive (VFD) systems. Additionally, the growing demand for multimeters with higher resolution, expanded voltage ranges, and multi-functionality has led to innovations in display technology, including high-contrast LCD screens with graphical analysis features.
The miniaturization of sensors and the enhancement of energy efficiency in multimeter design have also played a role in making these devices more portable, long-lasting, and user-friendly. As industries continue to move toward predictive maintenance and condition-based monitoring, the development of AI-powered multimeters capable of integrating with industrial IoT (IIoT) platforms is expected to revolutionize how electrical testing and maintenance are performed in complex industrial setups.
What Are the Key Factors Driving the Growth of the Industrial Multimeters Market?
The growth in the industrial multimeters market is driven by several factors, including advancements in measurement technology, the expansion of industrial automation, and the increasing complexity of electrical systems across industries.
The ongoing shift toward smart manufacturing and predictive maintenance has significantly boosted demand for wireless, AI-integrated, and IoT-enabled multimeters, which allow real-time monitoring, data analytics, and remote diagnostics. The rise of electric vehicles and renewable energy projects has further fueled market growth, as high-precision multimeters are required to measure and troubleshoot complex electrical networks in EV charging infrastructure and renewable power grids.
Additionally, stringent safety regulations and industry standards have compelled businesses to invest in high-quality, certified multimeters that ensure compliance with electrical safety norms, particularly in high-energy environments such as power plants, heavy machinery operations, and industrial automation lines. Another crucial driver is the increasing focus on energy efficiency, where multimeters play a critical role in monitoring power quality, detecting inefficiencies, and optimizing energy consumption in factories and commercial facilities. The growing importance of portable and multifunctional testing equipment has also contributed to the rising adoption of advanced multimeters, as industries seek compact, high-performance tools capable of handling a wide range of diagnostic tasks.
Furthermore, as skilled labor shortages continue to impact industrial sectors, the demand for user-friendly, automated, and AI-driven diagnostic tools is rising, ensuring that electrical testing and maintenance can be conducted efficiently with minimal expertise.
With continuous innovations in sensor technology, display interfaces, and wireless communication, the industrial multimeters market is set to experience sustained growth as industries increasingly prioritize precision, efficiency, and safety in electrical diagnostics and maintenance.
SCOPE OF STUDY:
The report analyzes the Industrial Multimeters market in terms of units by the following Segments, and Geographic Regions/Countries:
- Segments: End-Use (OEM, In-House Industrial Users, Third-Party Service Providers)
- Geographic Regions/Countries: World; United States; Canada; Japan; China; Europe (France; Germany; Italy; United Kingdom; and Rest of Europe); Asia-Pacific; Rest of World.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the OEM segment, which is expected to reach US$434.9 Million by 2030 with a CAGR of a 3%. The In-House Industrial Users segment is also set to grow at 3.4% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, valued at $197.8 Million in 2024, and China, forecasted to grow at an impressive 3.1% CAGR to reach $141.2 Million by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2024 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of players such as Amprobe, Andeli Group Co., Ltd, Asita Srl, Bercu NV, BRYMEN Technology Corporation and more.
This edition integrates the latest global trade and economic shifts as of June 2025 into comprehensive market analysis.
Key updates include:
- Tariff and Trade Impact: Insights into global tariff negotiations across 180+ countries, with analysis of supply chain turbulence, sourcing disruptions, and geographic realignment. Special focus on 2025 as a pivotal year for trade tensions, including updated perspectives on the Trump-era tariffs.
- Adjusted Forecasts and Analytics: Revised global and regional market forecasts through 2030, incorporating tariff effects, economic uncertainty, and structural changes in globalization. Includes segmentation by product, technology, type, material, distribution channel, application, and end-use, with historical analysis since 2015.
- Strategic Market Dynamics: Evaluation of revised market prospects, regional outlooks, and key economic indicators such as population and urbanization trends.
- Innovation & Technology Trends: Latest developments in product and process innovation, emerging technologies, and key industry drivers shaping the competitive landscape.
- Competitive Intelligence: Updated global market share estimates for 2025, competitive positioning of major players (Strong/Active/Niche/Trivial), and refined focus on leading global brands and core players.
- Expert Insight & Commentary: Strategic analysis from economists, trade experts, and domain specialists to contextualize market shifts and identify emerging opportunities.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 231 |
| Forecast Period | 2024 – 2030 |
| Estimated Market Value (USD) in 2024 | $730.1 Million |
| Forecasted Market Value (USD) by 2030 | $874.8 Million |
| Compound Annual Growth Rate | 3.1% |
| Regions Covered | Global |
Key Topics Covered:
Market Overview
- Industrial Multimeters – Global Key Competitors Percentage Market Share in 2024 (E)
- Global Economic Update
- Competitive Market Presence – Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
Market Trends & Drivers
- Rising Demand for Precision Measurement Throws the Spotlight on Industrial Multimeters
- Increasing Adoption of Automation Technologies Spurs Market Growth
- Technological Advancements in Multimeter Design Propel Market Expansion
- Growing Use in Electronics and Electrical Industry Strengthens Business Case for Multimeters
- Integration with IoT and Smart Technologies Generates Demand for Smart Multimeters
- Rising Focus on Energy Efficiency and Power Quality Drives Adoption
- Expansion of Renewable Energy Sector Sustains Market Growth
- Innovations in Wireless and Bluetooth-Enabled Multimeters Propel Technological Advancements
- Increasing Use in HVAC Systems and Maintenance Generates Market Opportunities
Focus on Select Players
Some of the 58 companies featured in this Industrial Multimeters market report include:
- Amprobe
- Andeli Group Co., Ltd
- Asita Srl
- Bercu NV
- BRYMEN Technology Corporation
- Celectric Sdn Bhdv
- Chauvin Arnoux Group
- China Pintech CO., Ltd
- Dallas Avionics, Inc.
- Digimess Instruments Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/g1kp0k
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- Industrial Multimeters Market
