The European general purpose test equipment market is recovering from the economic recession. Although the European market is mature, growth over the next few years will be gradual. Promisingly, most design applications are still occurring in the European market. Significant research and development in Western Europe and the growing manufacturing opportunities in Eastern Europe are set to open up a number of lucrative market opportunities.
New analysis from Frost & Sullivan, European General Purpose Test Equipment Markets, finds that the market generated revenues of $487.9 million in 2010 and estimates this to reach $535.5 million in 2017. The research covers the following market sectors: power metres, spectrum analysers, network analysers, logic analysers, electronic counters and multimetres.
"The majority of research and development activities in Europe are concentrated in Germany," notes Frost & Sullivan Research Analyst Mariano Kimbara. "Advanced German technology is helping to set standards worldwide in research, development, production and service, ensuring that the region overall garners increasing market share in the overall test & equipment market."
The European market leads globally in terms of product innovation. Europe and Germany are the core markets for design development. There are increasing opportunities being presented by the aerospace and defence and the automotive sector.