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New York, May 12, 2021/PRNewswire/-The global circuit tracer market by end user (service provider, industrial and commercial) and geography (Asia Pacific, North America, Europe, South America and MEA) has been added To Technavio's products. From 2021-2025, the global circuit tracer market is expected to grow by US$11.56 million, a compound annual growth rate close to 2%.
The COVID-19 outbreak has had a negative impact on market growth in 2020. Supply chain disruptions have led to a decline in energy demand and new capacity installations. However, the increase in investment in renewable energy is expected to increase the demand for circuit tracers and reduce the impact of the pandemic on market growth.
The market is expected to be driven by factors such as the timely identification of faults by circuit trackers, the ever-increasing power demand, and the ever-increasing demand for Ethernet.
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Circuit Tracer Market: Opportunities Countries all over the world aim to improve their manufacturing by encouraging the adoption of automation and IoT technologies. In addition, the ever-increasing amount of data generated is increasing investment in data center security and maintenance. This increases the demand for circuit tracers, thereby creating opportunities for the market.
Circuit Tracker Market: Segmentation by End User According to the end user segmentation, this market will generate the largest revenue in the service provider segment in 2020. This market segment is driven by the growing demand for facility management in commercial spaces such as offices, hospitals, shopping malls, airports and train stations. In addition, the increase in the number of hospitals and airports will contribute to the growth of this market segment during the forecast period.
Circuit tracker market: The Asia-Pacific region has the largest market share in 2020 by geography. Compared with the growth of other regional markets, the market in this region is expected to grow the fastest. The growth of the Asia-Pacific market can be attributed to the rapid spread of smartphones and the Internet, which has led to increasing investment in data centers. In addition, during the forecast period, rapid industrialization and increasing popularity of automation technology will promote the growth of the circuit tracer market in the Asia-Pacific region.
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Circuit Tracker Market: Major Suppliers
Emerson Electric Co. The company provides coaxial cable identification kits: 402K, PULSE-GROUND FAULT LOCATOR, TRACKER II-CABLE LOCATOR (501), BLL-200 Buried Line Locator and 508S-G Wire Finder.
ETCON Corp. The company provides products such as temporary light chains, fish tapes, and spools. The company provides CT105-audible circuit tracer.
Fortive Corp. The company provides key technical equipment, components, software, and services to the global manufacturing, maintenance, and transportation markets. The company offers Fluke 2042 cable positioner.
IDEAL INDUSTRIES INC. provides a wide range of electrical products, such as wire connectors and cable stackers. The company offers circuit tracers in the SureTrace range.
Klein Tools Inc. The company provides a wide range of products through its group companies, which include Alco, CBS Products, Civitella, Ergodyne, GMP, Klein Cutlery, Mumme Tools, Super Rod, Tulmex and Wattmaster. The company provides digital circuit breaker finder ET300 and circuit breaker finder accessory kit 69411.
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