Digital Gaussmeters Market Size, Share, Industry Analysis, Trends, Growth, 2030

Digital Gaussmeters Industry Prospective:

The global digital gaussmeters market size was worth around USD 45 million in 2022 and is predicted to grow to around USD 63.9 million by 2030 with a compound annual growth rate (CAGR) of roughly 4.5% between 2023 and 2030. 

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Digital Gaussmeters Market: Overview

Small (relatively) magnetic fields can have their direction and strength measured with a Gauss Meter. A Tesla Meter, which is similar but measures in bigger Tesla units, is used for stronger magnetic fields. A gauss probe/sensor, the meter, and a wire that connects them all make up a gauss meter. A Gauss Meter is a helpful tool for determining the intensity of magnetic fields, and some models can also determine the polarity of the field. The fact that a basic voltage tester uses a magnetic field to measure electrical flow makes it a form of gauss meter.

Key Insights

• As per the analysis shared by our research analyst, the global Digital Gaussmeters market is estimated to grow annually at a CAGR of around 4.5% over the forecast period (2023-2030).
• In terms of revenue, the global Digital Gaussmeters market size was valued at around USD 45 million in 2022 and is projected to reach USD 63.9 million, by 2030.
• The increasing demand for Digital Gaussmeters from various industries is expected to propel the digital gaussmeters market growth.
• Based on the type, the portable gaussmeters segment is expected to capture the largest market share over the forecast period.
• Based on the application, the industrial segment is expected to dominate the market during the forecast period.
• Based on region, the Asia Pacific is expected to hold the largest market share over the forecast period.

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Digital Gaussmeters Market: Growth Drivers

The growing electronics industry drives market growth

With the increased manufacturing of electronic gadgets, parts, and circuits, the electronics sector is expected to continue expanding quickly. Digital gaussmeters are crucial devices for monitoring and regulating magnetic fields in electronic parts including magnetic sensors, transformers, and inductors. For instance, according to Invest India, based on FY22 data, domestic electronics production was valued at $101 billion in FY23 and was broken down into the following sectors: mobile phones (43%), IT hardware (5%), consumer electronics (12%), strategic electronics (5%), industrial electronics (12%), wearables & hearables (0.3%), PCBA (0.7%), auto electronics (8%), LED lighting (3%) and electronic components (11%). Therefore, the aforementioned statistics are expected to drive the global digital gaussmeter market growth over the forecast period.

Digital Gaussmeters Market: Restraints

Limited measurement range hampers market expansion

Despite having a wider measuring range than their analog equivalents, digital gaussmeters may still be constrained in terms of the maximum and minimum magnetic field strengths they can correctly measure. Extended measuring range equipment may be needed for specialized applications. Thus, the limited measurement range is expected to hamper the digital gaussmeter industry growth over the forecast period.

Digital Gaussmeters Market: Opportunities

Growing product launches offer a lucrative opportunity for market growth

The growing product launches offer a lucrative opportunity for digital gaussmeters market growth during the forecast period. For instance, in February 2023, Johnson and Allen Ltd. announced the launch of the new 5200 series Gauss Meters. The 5170 and 5180's older predecessors, the 5270 and 5280, are anticipated to be just as reliable, but the new generation also brings several additional features, such as a touchscreen user interface and a Li-ion rechargeable battery. The Johnson & Allen calibration department also offers support and recalibration services, which will make using the 5270 and 5280 even simpler. They are ideal for validating magnetization procedures in magnetic particle inspection (MPI).

Digital Gaussmeters Market: Challenges

Calibration and maintenance pose a challenge to market growth

To guarantee reliable results, digital gaussmeters need to be calibrated often. Users must invest in maintaining the accuracy of their equipment, which can raise the overall cost of ownership. Calibration can be time-consuming and expensive. Thus, posing a major challenge to the market growth.  

Digital Gaussmeters Market: Segmentation

The global Digital Gaussmeters industry is segmented based on type, application, and region.

Based on the type, the global market is bifurcated into portable gaussmeters and bench-top gaussmeters. The portable gaussmeter segment is expected to capture the largest market share over the forecast period. Users may simply carry along portable gaussmeters. Compared to tabletop or laboratory gaussmeters, they are frequently smaller and lighter, making transporting to various sites simple. The large measuring range that these gaussmeters normally provide also allows them to be used in a variety of applications.

These devices are adaptable since they can measure both light and strong magnetic fields. On the other hand, the bench-top gaussmeters are expected to grow significantly over the forecast period. The excellent accuracy and precision of bench-top gaussmeters in measuring magnetic fields are well recognized. They are useful for research, calibration, and quality control applications because they can deliver extremely dependable readings. These gaussmeters are also made to deliver consistent, reproducible readings throughout time. To assure accuracy in a variety of environmental circumstances, they frequently contain features like internal temperature correction. Thereby, driving the market expansion over the forecast period.

Based on the application, the digital gaussmeters industry is bifurcated into industrial, laboratory, and others. The industrial segment is expected to dominate the market during the forecast period. The growth in the segment is attributed to the wide application of digital gaussmeters in various sectors including automotive, aerospace, and electronics. Digital gaussmeters are essential for the manufacture of machinery and other products in the automotive, aerospace, electronics, and automobile industries.

The magnetic characteristics of parts including motors, transformers, solenoids, and magnetic sensors are measured and verified using these devices. The performance and safety of these products depend on ensuring exact magnetic field properties. On the other hand, the laboratory segment is expected to hold a significant revenue share over the forecast period. Digital gaussmeters are renowned for their outstanding precision and accuracy in measuring magnetic fields and are commonly used in laboratories. They are made to produce accurate measurements that can be repeated, which is essential for scientific study and experimentation. To describe the magnetic characteristics of materials, such as ferromagnetic, paramagnetic, and diamagnetic compounds, scientists employ digital gaussmeters. Understanding material behavior and qualities require knowledge of this. Thereby, driving the segment growth.

Digital Gaussmeters Market: Report Scope

Digital Gaussmeters Market: Regional Analysis

Asia Pacific is expected to hold the largest market share over the forecast period

The Asia Pacific is expected to hold the largest digital gaussmeter market share over the forecast period owing to rapid industrialization. The automotive, electronics, manufacturing, and healthcare industries, among others, are some of the biggest and fastest-growing in the world. Digital gaussmeters are widely used in these sectors for compliance testing, research & development, and quality control. For instance, statistics from the Ministry of Industry and Information Technology show that China produced and sold more than 28 million cars in 2016, placing it top of the world for eight straight years.

Additionally, the gross domestic product of automobiles in China exceeded CNY 10 trillion (USD 1.4 trillion) in 2021, accounting for close to 10% of the country's GDP. In addition, China's National Bureau of Statistics reports that its exports reached 2.12 million units in 2021, nearly doubling from 2020. China was the third-largest exporter of vehicles in 2021, after Germany (2.3 million) and Japan (3.82 million). Additionally, in 2021, gasoline-powered cars made up the majority of China's exports, followed by electric vehicles (56%), which made up 26% of the total. Furthermore, Asia-Pacific nations make major investments in research and development in a variety of fields, including physics, technology, and materials science. In laboratories and research centers, digital gaussmeters are essential for conducting experiments and analyzing magnetic characteristics. Thus, this is expected to propel the market growth over the forecast period.

Digital Gaussmeters Market: Competitive Analysis

The global Digital Gaussmeters market is dominated by players like:

• Star Trace Private Limited
• Samruddhi Industries
• Linux Magnetics
• Mars EdPal Instruments Pvt. Ltd.
• Electrosine Systems
• Polytronic Corporation
• MANGAL INSTRUMENTATION
• Permag
• The Oriental Science Apparatus Workshops
• Shivsons
• HOVERLABS

The global Digital Gaussmeters market is segmented as follows:

By Type

• Portable Gaussmeters
• Bench-top Gaussmeters

By Application

• Industrial
• Laboratory
• Others

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa