Summary
Renting & Leasing Test and Measurement Equipment Market Research Report Information By Product (General Purpose Test Equipment, Wireless Test Equipment, Semiconductor Test Equipment, Rf Test Chambers), By Components (Connectors, Cable Assemblies, Value Added Accessories), By Application (Aerospace & Defense, Healthcare & Medical Equipment, Telecommunication, Electronics & Semiconductor, Industrial & Manufacturing, automotive), and By Region (North America, Europe, Asia-Pacific, Middle East & Africa, and South America) Forecast Till 2032
Market Overview
Market Research Future (MRFR) has projected that the global Renting and Leasing Test and Measurement Equipment Market will reach USD 9,799.2 million by 2032, with a compound annual growth rate (CAGR) of 9.8% during the forecast period from 2024 to 2032. This market has been undergoing substantial growth in recent years.
The environmental regulations and sustainable practices are driving the growth of the rental and leasing sector for test and measurement equipment. The demand for cost-effective, dependable performance measurement and evaluation methods in these sectors has increased because of the growing emphasis on sustainability and the implementation of sustainable technologies in a variety of industries worldwide. Businesses can accomplish environmental objectives while simultaneously adhering to regulations by renting or leasing test equipment as an alternative to purchasing it. The increase in stringent environmental regulations is one of the primary factors driving growth in the TME rental market.
Market segment insights
The Renting and Leasing Test and Measurement Equipment Market has been segmented into General Purpose Test Equipment, Wireless Test Equipment, Semiconductor Test Equipment, and RF Test Chambers based on the product.
The Renting and Leasing Test and Measurement Equipment Market has been segmented into Connectors, Cable Assemblies, and Value-Added Accessories based on Components.
Aerospace & Defense, Healthcare & Medical Equipment, Telecommunication, Electronics & Semiconductor, Industrial Manufacturing, Automotive, and Others are the segments into which the Market has been divided based on application.
Regional Perspectives
North America, Europe, Asia-Pacific, Middle East & Africa, and South America are the region-based segments of the Test and Measurement Equipment. The North American Commercial Kitchen Ventilation system market held the highest market share in 2024, and it is anticipated that the Asia-Pacific region will experience substantial CAGR growth during the study period.
In terms of geography, North America holds the greatest market share at 36.7%. The expansion of the electronics manufacturing sector, as well as the rapid industrialization in countries such as the United States and Canada, are the primary factors driving the region's growth. Following North America, Asia Pacific and Europe hold market shares of 27.1% and 21.8%, respectively. In these regions, the expansion is propelled by regulatory mandates that prioritize product quality and safety, as well as continuous technological advancements.
The consumption of Renting and Leasing Test and Measurement equipment in North America is both high and increasing for the following reasons. In the areas of telecommunications, aviation space, automobiles, and health, the region has implemented substantial research and development expenditures to maintain its technological edge.
Consequently, the Asia-Pacific region is experiencing a significant increase in the consumption of Test and Measurement equipment as a result of the expanding population, the development of new technologies, and industrialization.
Major Players
Transcat Inc., Keysight Technologies, National Instruments Corp, Anritsu Corporation, Rohde & Schwarz, VIAVI Solutions Inc., Teledyne Technologies Incorporated, TechRentals, electrorent.com, Inc., Supreme Technology & Energy Solutions Pty Ltd, and others are among the prominent players in the market.
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Table of Contents
TABLE OF CONTENTS
1 EXECUTIVE SUMMARY ................................................................................................................. 19
2 MARKET INTRODUCTION ............................................................................................................. 21
2.1 DEFINITION ............................................................................................................................................................................ 21
2.2 SCOPE OF THE STUDY ...................................................................................................................................................... 21
2.3 RESEARCH OBJECTIVE .................................................................................................................................................... 21
2.4 MARKET STRUCTURE ....................................................................................................................................................... 22
3 RESEARCH METHODOLOGY ........................................................................................................ 23
3.1 OVERVIEW.............................................................................................................................................................................. 23
3.2 DATA FLOW ........................................................................................................................................................................... 25
3.2.1 DATA MINING PROCESS ................................................................................................................................. 25
3.3 PURCHASED DATABASE: ................................................................................................................................................. 26
3.4 SECONDARY SOURCES: .................................................................................................................................................... 27
3.4.1 SECONDARY RESEARCH DATA FLOW: ............................................................................................................. 28
3.5 PRIMARY RESEARCH: ....................................................................................................................................................... 29
3.5.1 PRIMARY RESEARCH DATA FLOW: ................................................................................................................. 30
3.5.2 PRIMARY RESEARCH: NUMBER OF INTERVIEWS CONDUCTED ......................................................................... 31
3.5.3 PRIMARY RESEARCH: REGIONAL COVERAGE .................................................................................................. 31
3.6 APPROACHES FOR MARKET SIZE ESTIMATION: .................................................................................................. 32
3.6.1 REVENUE ANALYSIS APPROACH ..................................................................................................................... 32
3.7 DATA FORECASTING ......................................................................................................................................................... 33
3.7.1 DATA FORECASTING TECHNIQUE .................................................................................................................... 33
3.8 DATA MODELING ................................................................................................................................................................. 34
3.8.1 MICROECONOMIC FACTOR ANALYSIS: ............................................................................................................ 34
3.8.2 DATA MODELING: ........................................................................................................................................... 35
3.9 TEAMS AND ANALYST CONTRIBUTION ................................................................................................................... 36
4 MARKET DYNAMICS ...................................................................................................................... 39
4.1 INTRODUCTION .................................................................................................................................................................... 39
4.2 DRIVERS .................................................................................................................................................................................. 39
4.2.1 COST SAVING AND FINANCIAL FLEXIBILITY .................................................................................................... 39
4.2.2 INCREASING FOCUS ON QUALITY CONTROL BY MANUFACTURING COMPANIES ............................................... 40
4.2.3 INCREASING DEMAND FOR TEST AND MEASUREMENT EQUIPMENT IN THE AUTOMOTIVE INDUSTRY ................ 40
4.3 RESTRAINTS .......................................................................................................................................................................... 41
4.3.1 DEPENDENCE ON EXTERNAL PROVIDERS ........................................................................................................ 41
4.3.2 CONCERN ABOUT QUALITY AND CALIBRATION................................................................................................ 41
4.3.3 LACK OF CUSTOMIZATION .............................................................................................................................. 42
4.4 OPPORTUNITY ...................................................................................................................................................................... 44
4.4.1 RISE IN OUTSOURCING ................................................................................................................................... 44
4.4.2 SUSTAINABLE PRACTICES AND ENVIRONMENTAL REGULATIONS .................................................................... 44
4.4.3 PROLIFERATION OF IOT IN TEST AND MEASUREMENT EQUIPMENT INDUSTRY ................................................. 44
4.5 COVID-19 IMPACT ANALYSIS ......................................................................................................................................... 45
4.5.1 IMPACT ON OVERALL SEMICONDUCTOR ELECTRONICS ................................................................................... 45
4.5.2 IMPACT ON GLOBAL RENTING & LEASING TEST AND MEASUREMENT EQUIPMENT MARKET ............................. 46
4.5.3 IMPACT ON SUPPLY CHAIN OF GLOBAL RENTING & LEASING TEST AND MEASUREMENT EQUIPMENT MARKET 46
4.5.4 IMPACT ON MARKET DEMAND OF RENTING & LEASING TEST AND MEASUREMENT EQUIPMENT MARKET ......... 46
4.5.5 IMPACT ON PRICING OF RENTING & LEASING TEST AND MEASUREMENT EQUIPMENT MARKET ....................... 46
5 MARKET FACTOR ANALYSIS ........................................................................................................ 47
5.1 VALUE CHAIN ANALYSIS ................................................................................................................................................ 47
5.1.1 EQUIPMENT SOURCING .................................................................................................................................. 47
5.1.2 LEASING AND RENTAL COMPANIES ................................................................................................................ 47
5.1.3 LOGISTICS AND DISTRIBUTION ....................................................................................................................... 47
5.1.4 END USERS .................................................................................................................................................... 48
5.1.5 AFTER SALE SERVICES ................................................................................................................................... 48
5.2 PORTER’S FIVE FORCES MODEL ................................................................................................................................... 49
5.2.1 THREAT OF NEW ENTRANTS ........................................................................................................................... 50
5.2.2 BARGAINING POWER OF SUPPLIERS ............................................................................................................... 50
5.2.3 THREAT OF SUBSTITUTES .............................................................................................................................. 50
5.2.4 BARGAINING POWER OF BUYERS .................................................................................................................... 50
5.2.5 INTENSITY OF RIVALRY .................................................................................................................................. 51
6 GLOBAL RENTING AND LEASING TEST AND MEASUREMENT EQUIPMENT MARKET, BY PRODUCT ............................................................................................................................................. 53
6.1 OVERVIEW.............................................................................................................................................................................. 53
6.1.1 GENERAL PURPOSE TEST EQUIPMENT ............................................................................................................ 55
6.1.2 WIRELESS TEST EQUIPMENT .......................................................................................................................... 55
6.1.3 SEMICONDUCTOR TEST EQUIPMENT ............................................................................................................... 55
6.1.4 RF TEST CHAMBERS ....................................................................................................................................... 55
7 GLOBAL RENTING AND LEASING TEST AND MEASUREMENT EQUIPMENT MARKET, BY COMPONENTS ..................................................................................................................................... 57
7.1 INTRODUCTION .................................................................................................................................................................... 57
7.1.1 CONNECTORS ................................................................................................................................................ 58
7.1.2 CABLE ASSEMBLIES ....................................................................................................................................... 59
7.1.3 VALUE ADDED ACCESSORIES .......................................................................................................................... 59
8 GLOBAL RENTING AND LEASING TEST AND MEASUREMENT EQUIPMENT MARKET, BY APPLICATION ....................................................................................................................................... 60
8.1 INTRODUCTION .................................................................................................................................................................... 60
8.1.1 AEROSPACE & DEFENSE ................................................................................................................................. 61
8.1.2 HEALTCARE & MEDICAL EQUIPMENT .............................................................................................................. 61
8.1.3 TELECOMMUNICATION ................................................................................................................................... 62
8.1.4 ELECTRONICS & SEMICONDUCTOR ................................................................................................................. 62
8.1.5 INDUSTRIAL & MANUFACTURING .................................................................................................................... 62
8.1.6 6AUTOMOTIVE ............................................................................................................................................... 62
9 GLOBAL RENTING AND LEASING TEST AND MEASUREMENT EQUIPMENT MARKET, BY REGION ................................................................................................................................................. 64
9.1 OVERVIEW.............................................................................................................................................................................. 64
9.1.1 GLOBAL RENTING AND LEASING TEST AND MEASUREMENT EQUIPMENT MARKET, BY REGION, 2023 VS 2032 (USD MILLION) .................................................................................................................................................................... 65
9.1.2 GLOBAL RENTING AND LEASING TEST AND MEASUREMENT EQUIPMENT MARKET, BY REGION, 2019–2032 (USD MILLION) .................................................................................................................................................................... 65
9.2 NORTH AMERICA ................................................................................................................................................................ 66
9.2.1 US.................................................................................................................................................................. 70
9.2.2 CANADA ........................................................................................................................................................ 71
9.2.3 MEXICO ......................................................................................................................................................... 72
9.3 EUROPE ................................................................................................................................................................................... 73
9.3.1 GERMANY ...................................................................................................................................................... 77
9.3.2 FRANCE ......................................................................................................................................................... 79
9.3.3 UK ................................................................................................................................................................. 80
9.3.4 SPAIN ............................................................................................................................................................ 81
9.3.5 RUSSIA .......................................................................................................................................................... 82
9.3.6 ITALY ............................................................................................................................................................. 83
9.3.7 REST OF EUROPE ............................................................................................................................................ 84
9.4 ASIA-PACIFIC ........................................................................................................................................................................ 85
9.4.1 CHINA ............................................................................................................................................................ 89
9.4.2 JAPAN ........................................................................................................................................................... 90
9.4.3 INDIA ............................................................................................................................................................. 91
9.4.4 SOUTH KOREA ................................................................................................................................................ 92
9.4.5 MALAYSIA ..................................................................................................................................................... 94
9.4.6 THAILAND ...................................................................................................................................................... 95
9.4.7 INDONESIA ..................................................................................................................................................... 96
9.4.8 REST OF ASIA-PACIFIC ................................................................................................................................... 97
9.5 MIDDLE EAST & AFRICA ................................................................................................................................................... 98
9.5.1 GCC COUNTRIES ............................................................................................................................................. 102
9.5.2 SOUTH AFRICA ............................................................................................................................................... 103
9.5.3 REST OF MIDDLE EAST & AFRICA .................................................................................................................... 104
9.6 SOUTH AMERICA ................................................................................................................................................................. 105
9.6.1 BRAZIL ........................................................................................................................................................... 109
9.6.2 ARGENTINA ................................................................................................................................................... 110
9.6.3 REST OF SOUTH AMERICA .............................................................................................................................. 111
10 COMPETITIVE LANDSCAPE .......................................................................................................... 113
10.1 INTRODUCTION .................................................................................................................................................................... 113
10.2 MARKET SHARE ANALYSIS, 2023 ................................................................................................................................ 114
10.3 COMPETITOR DASHBOARD ............................................................................................................................................ 115
10.4 KEY DEVELOPMENTS & GROWTH STRATEGIES .................................................................................................... 115
10.4.1 PARTNERSHIP/INVESTMENT /PRODUCT LAUNCH/PRODUCT APPROVAL/PRODUCT DEVELOPMET ................... 115
11 COMPANY PROFILES .................................................................................................................... 119
11.1 TRANSCAT, INC. ................................................................................................................................................................... 119
11.1.1 COMPANY OVERVIEW ..................................................................................................................................... 119
11.1.2 FINANCIAL OVERVIEW .................................................................................................................................... 120
11.1.3 SERVICESS OFFERED ...................................................................................................................................... 120
11.1.4 KEY DEVELOPMENTS ...................................................................................................................................... 121
11.1.5 SWOT ANALYSIS ............................................................................................................................................ 121
11.1.6 KEY STRATEGIES ............................................................................................................................................ 122
11.2 KEYSIGHT TECHNOLOGIES ............................................................................................................................................ 123
11.2.1 COMPANY OVERVIEW ..................................................................................................................................... 123
11.2.2 FINANCIAL OVERVIEW .................................................................................................................................... 124
11.2.3 SERVICESS OFFERED ...................................................................................................................................... 124
11.2.4 KEY DEVELOPMENTS ...................................................................................................................................... 125
11.2.5 SWOT ANALYSIS ............................................................................................................................................ 126
11.2.6 KEY STRATEGIES ............................................................................................................................................ 126
11.3 NATIONAL INSTRUMENTS .............................................................................................................................................. 127
11.3.1 COMPANY OVERVIEW ..................................................................................................................................... 127
11.3.2 FINANCIAL OVERVIEW .................................................................................................................................... 128
11.3.3 PRODUCTS OFFERED ...................................................................................................................................... 128
11.3.4 KEY DEVELOPMENTS ...................................................................................................................................... 131
11.3.5 SWOT ANALYSIS ............................................................................................................................................ 132
11.3.6 KEY STRATEGIES ............................................................................................................................................ 132
11.4 ANRITSU CORPORATION ................................................................................................................................................. 133
11.4.1 COMPANY OVERVIEW ..................................................................................................................................... 133
11.4.2 FINANCIAL OVERVIEW .................................................................................................................................... 134
11.4.3 PRODUCTS OFFERED ...................................................................................................................................... 135
11.4.4 KEY DEVELOPMENTS ...................................................................................................................................... 137
11.4.5 SWOT ANALYSIS ............................................................................................................................................ 138
11.4.6 KEY STRATEGIES ............................................................................................................................................ 138
11.5 ROHDE & SCHWARZ ........................................................................................................................................................... 139
11.5.1 COMPANY OVERVIEW ..................................................................................................................................... 139
11.5.2 FINANCIAL OVERVIEW .................................................................................................................................... 140
11.5.3 PRODUCTS OFFERED ...................................................................................................................................... 140
11.5.4 KEY DEVELOPMENTS ...................................................................................................................................... 143
11.5.5 SWOT ANALYSIS ............................................................................................................................................ 144
11.5.6 KEY STRATEGIES ............................................................................................................................................ 144
11.6 VIAVI SOLUTIONS INC ...................................................................................................................................................... 145
11.6.1 COMPANY OVERVIEW ..................................................................................................................................... 145
11.6.2 FINANCIAL OVERVIEW .................................................................................................................................... 146
11.6.3 PRODUCTS OFFERED ...................................................................................................................................... 147
11.6.4 KEY DEVELOPMENTS ...................................................................................................................................... 148
11.6.5 SWOT ANALYSIS ............................................................................................................................................ 149
11.6.6 KEY STRATEGIES ............................................................................................................................................ 150
11.7 TELEDYNE TECHNOLOGIES INCORPORATED ........................................................................................................ 151
11.7.1 COMPANY OVERVIEW ..................................................................................................................................... 151
11.7.2 FINANCIAL OVERVIEW .................................................................................................................................... 152
11.7.3 PRODUCTS OFFERED ...................................................................................................................................... 152
11.7.4 KEY DEVELOPMENTS ...................................................................................................................................... 155
11.7.5 SWOT ANALYSIS ............................................................................................................................................ 157
11.7.6 KEY STRATEGIES ............................................................................................................................................ 157
11.8 TECHRENTALS ..................................................................................................................................................................... 158
11.8.1 COMPANY OVERVIEW ..................................................................................................................................... 158
11.8.2 FINANCIAL OVERVIEW .................................................................................................................................... 158
11.8.3 PRODUCTS OFFERED ...................................................................................................................................... 158
11.8.4 KEY DEVELOPMENTS ...................................................................................................................................... 159
11.8.5 SWOT ANALYSIS ............................................................................................................................................ 159
11.8.6 KEY STRATEGIES ............................................................................................................................................ 160
11.9 ELECTRORENT.COM, INC. ................................................................................................................................................ 161
11.9.1 COMPANY OVERVIEW ..................................................................................................................................... 161
11.9.2 FINANCIAL OVERVIEW .................................................................................................................................... 161
11.9.3 PRODUCTS OFFERED ...................................................................................................................................... 161
11.9.4 KEY DEVELOPMENTS ...................................................................................................................................... 162
11.9.5 SWOT ANALYSIS ............................................................................................................................................ 163
11.9.6 KEY STRATEGIES ............................................................................................................................................ 163
11.10 SUPREME TECHNOLOGY & ENERGY SOLUTIONS PTY LTD. ............................................................................. 164
11.10.1 COMPANY OVERVIEW ..................................................................................................................................... 164
11.10.2 FINANCIAL OVERVIEW .................................................................................................................................... 164
11.10.3 PRODUCTS OFFERED ...................................................................................................................................... 164
11.10.4 KEY DEVELOPMENTS ...................................................................................................................................... 164
11.10.5 SWOT ANALYSIS ............................................................................................................................................ 164
11.10.6 KEY STRATEGIES ............................................................................................................................................ 165