Digital Panel Meter Market Size Worth USD 4.84 Billion,

Pune, India, November 07, 2022 (GLOBE NEWSWIRE) — The global Digital Panel Meter Market it was $3.12 billion in 2021. The global market size will grow from $3.39 billion in 2022 and is expected to reach $4.84 billion by 2029, showing a CAGR of 5.2% during the forecast period from 2021-2029. This information was provided by Fortune Business Insights, in its report, titled, “Digital Panel Meter Market, 2021-2029.”

According to our analysts, the market is expected to grow rapidly due to the product’s utility in various industries such as food & beverages, sewage plants, oil and gas, and power plants to minimize errors during manufacturing.

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Report Highlights:

Report Coverage details
Forecast Period 2022-2029
Forecast Period 2022 To 2029 CAGR 5.2%
2029 Projected Value USD 4.84 billion
Elementary Years 2021
Market Size in 2021 3.12 billion
Historical data for 2018-2020
Number of Pages 210
Section covered Types, Applications, Areas
Growth Drivers Rising Industrialization to Drive Market Growth
Rising Adoption of Digital Panels in Consumer Electronics Market Boosts


Market Highlights:

Rising Demand from the Consumer Electronics Industry to Demand for Fuel Products

The increasing application of digital panel meters provides a better viewing experience, high accuracy, and increased functionality, ultimately driving the growth of the market. Further, rising demand from the consumer electronics industry and built-in overload protection in meters to protect equipment from fluctuating loads will drive product demand. Meanwhile, adjusting the tuning and response circuits may hamper the growth of the digital panel meter market.

Impact of COVID-19

Shutdown of Industrial Activity Globally Hinders Market Growth

A considerable impact of the COVID-19 was observed in the global market during the early days of the pandemic. Due to the halt in industrial activities and disruptions in the supply chain, various important raw materials used in the manufacturing of digital panel meters have been delayed, greatly affecting their demand. This caused delays in manufacturing and increased prices of important parts.

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Competitive Landscape:

Some Giants Invest in Innovation to Strengthen Their Positions

Leading companies, such as Murata, seem to be investing in technological advancements to improve their current products to build a competitive landscape. For example, to make it ideal for various laboratory and industrial applications, Murata launched a series of DC panel meters for current and voltage measurement to strengthen its position in the market.

Regional Insights:

Rising Manufacturing Potential throughout the Region bears Growing in Asia Pacific

Asia Pacific holds a strong grip on the digital panel meter market share and is expected to lead the market during the forecast period due to rising manufacturing potential, supported by lucrative infrastructure projects in the region.

Europe is expected to show exponential growth during the forecast period due to growing industrial growth in regions such as Germany and others.

North America appears to have considerable demand due to rapid growth in the energy sector and rising government efforts in developing the industry.

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List of Companies Profiled in the Report:

  • Murata Manufacturing (Japan)
  • Zhejiang CHINT (China)
  • Siemens (Germany)
  • Omron Corporation (Japan)
  • Contact Phoenix (Germany)
  • Crouzet (France)
  • Carlo Gavazzi (Switzerland)
  • Electronic PR (Denmark)
  • Lascar Electronics (USA)
  • Autonics (South Korea)
  • Red Lion Control (USA)
  • Trumeter (UK)
  • Precision Digital (USA)
  • Yokogawa Meters & Instrumentation (Japan)

MARKET SEGMENTATION:

Rising Adoption of Process Control Device Drive Temperature & Process Panel Meter Segment

Based on type, the market is classified into temperature & process panel meters, totalizers, and multi-input indicators & scanners. The panel temperature & process meter segment will dominate due to rising demand from various industries for process control and temperature measurement.

Rising Application of Display Segment will favor Market Development

Based on application, the market is classified into display voltage, display current, display temperature, and others. The display voltage segment is expected to dominate the market due to its wide application in electrical and industrial equipment sectors.

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Main Industrial Development:

April 2021 – Murata introduced a series of DC panel meters developed for industrial and laboratory voltage and current measurement applications. The miniature DMR35 provides a unique bar graph display and digital absolute value.

February 2021 – CHINT completed the data update from 2D to 3D of 17000 low-voltage components in the EPLAN software database in January 2021. It can be used in all EPLAN software series, including EPLAN P8 electrical design and EPLAN Pro 3D cabinet design. panel.

Table of Contents:

  • opening
    • Scope of Research
    • Market segmentation
    • Research Methodology
    • Meaning and Assumptions
  • Executive Summary
  • Market dynamics
    • Market Driver
    • Market Limits
    • Market opportunity
  • Key insights
    • Major Emerging Trends – For Major Countries
    • Latest Technological Advances
    • The Regulatory Landscape
    • Porters Five Forces Analysis
    • Impact of COVID-19 on the Digital Panel Meter Market
  • Global Digital Panel Meter Market Analysis (Thousands Units, Billion USD), Insights and Forecast, 2018-2029
    • Key findings / Summary
    • Market Analysis, Insights and Forecasts – By Type
      • Temperature & Process Panel Meters
      • Totalizers
      • Multi-Input Indicator & Scanner
    • Market Analysis, Insights and Forecasts – By Application
      • Display Voltage
      • Show Now
      • Show Temperature
      • other
    • Market Analysis, Insights and Forecasts – By Region
      • North America
      • Europe
      • Asia Pacific
      • Latin America
      • Middle East & Africa
  • North America Digital Panel Meter Market Analysis (Thousands Units, Billion USD), Insights and Forecast, 2018-2029
    • Key findings / Summary
    • Market Analysis, Insights and Forecasts – By Type
      • Temperature & Process Panel Meters
      • Totalizers
      • Multi-Input Indicator & Scanner
    • Market Analysis, Insights and Forecasts – By Application
      • Display Voltage
      • Show Now
      • Show Temperature
      • other
    • Market Analysis, Insights and Forecasts – By Country

To be continued…

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