The EL panel meter market is expected to grow from USD 4.5 billion in 2018 to USD 6.3 billion by 2028, at a CAGR of 3.4%. Digital EL Panel Meters are anticipated to be the fastest-growing segment of the global market for digital meters during this time period, with an estimated CAGR of 5.9% from 2019-2028. North America will lead the regional markets and account for 39% share in terms of revenue during the forecast period owing to high demand and rising investments in infrastructure projects across various industries such as residential, commercial, and industrial sectors.
The EL Panel Meter is a device that measures the flow of electric current, typically used for measuring electricity in the home or office. It does not measure energy itself; rather, it reads how much current is consumed at any given time and converts this into units based on the manufacturer's settings. There are three common types: analogue (which displays numerical values) digital meters (displays numerical value), and pulse-type meters. A wide variety of applications exist as well - including commercial, industrial, and domestic use cases. This gives rise to opportunities across different countries around the world in terms of both number of consumers purchasing these devices locally but also export potential as international demand increases over time.
On the basis of Type, the market is segmented into analogue EL Panel Meters and digital EL panel meters. The demand for analogue meters prevailed in 2018 owing to their low price point as compared with digital ones; however, it is anticipated that this trend will reverse between 2019-2028 due to high growth potential in emerging markets such as Latin America (LA) and Africa among others.
An analogue EL Panel Meter is a type of electronic device which is capable of measuring the amount of electrical current as well as voltage in an alternating-current electric power line. It can be either mechanical or digital, with many variations in design and use available. Analogue EL panel meters typically feature two scales along with their faces: one for volts (V) and another for amps (A). These correspond to instantaneous values at any given point during operation; however, these are not continuous readings but rather snapshots taken over time intervals ranging from milliseconds down to seconds. The readouts shown by such devices may also include factors like frequency, resistance, capacitance, or other variables that might make them more useful than simple analogs when used for particular purposes.
Digital EL panel meters operate by measuring and displaying the results of a number of measurements in digital form, usually as numbers or digits on an LCD display. Digital EL panels are able to receive more data from their surroundings than analogue versions: these devices can often measure voltage, current frequency (in hertz), power factor, and phase angle among other factors. They may also be programmed with preset limits that allow them to automatically shut off if any of those pre-defined values are exceeded during use.
There is no standardized way for connecting a digital EL panel meter to its outside environment; manufacturers tend to produce models compatible with specific input types like DIN rail mountings or wall brackets rather than using common standards such as RS232C serial protocols. Analogue EL Panel Meters are expected to account for more than 80% of the total global revenue share by 2028 end owing to their lower price point and wider application across all three segments. Meanwhile, digital EL panel meters are expected to emerge as an important source of growth over the forecast period on account of benefits such as higher accuracy levels coupled with low cost per wattage capacity especially when compared against analogue models which have comparatively less favorable performance metrics due primarily to signal noise issues inherent in this type of technology (a major drawback).
On the basis of Application, the market is segmented into commercial, domestic and industrial. The market for digital EL panel meters in the commercial segment is anticipated to grow at a high CAGR from 2018-2028.
On the basis of Region, the market is segmented into North America, Latin America, Europe, and Asia Pacific & Middle East. The market in the European region is anticipated to grow at a high CAGR from 2018-2028.
Growth factors of EL Panel Meter Market :
In addition to this, stringent government regulations are expected to act as a driving force for market growth globally with an increasing number of countries adopting these norms thereby reducing overall usage of analog types that have comparatively lower efficiency levels when compared against digital models on account primarily due to signal noise issues inherent in analogue technology (a major drawback). Furthermore, safety standards such as IEC 62067:2014 are anticipated to act as an important driver for the industry given increased awareness from regulatory bodies about faulty or aging feeder lines.
Up Market Research published a new report titled “EL Panel Meter Market research report which is segmented by Types (Analogue EL Panel Meters, Digital EL Panel Meters), By Applications (Commercial, Domestic, Industrial), By Players/Companies Red Lion Controls, Accuenergy, Automatic Electric, BEEMET Instruments, EGEMAC, Tyco Electronics, OMEGA Engineering, Proton Power Control”.
|Report Attributes||Report Details|
|Report Title||EL Panel Meter Market Research Report|
|By Type||Analogue EL Panel Meters, Digital EL Panel Meters|
|By Application||Commercial, Domestic, Industrial|
|By Companies||Red Lion Controls, Accuenergy, Automatic Electric, BEEMET Instruments, EGEMAC, Tyco Electronics, OMEGA Engineering, Proton Power Control|
|Regions Covered||North America, Europe, APAC, Latin America, MEA|
|Historical Year||2018 to 2019 (Data from 2010 can be provided as per availability)|
|Number of Pages||223|
|Number of Tables & Figures||157|
|Customization Available||Yes, the report can be customized as per your need.|
The report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can change the market dynamics of the industry. It provides an in-depth analysis of the market segments which include products, applications, and competitor analysis.
The market is segmented by Type Analogue EL Panel Meters, Digital EL Panel Meters and By Application Commercial, Domestic, Industrial.
Some of the companies that are profiled in this report are:
EL Panel Meter Market research report delivers a close watch on leading competitors with strategic analysis, micro and macro market trend and scenarios, pricing analysis and a holistic overview of the market situations in the forecast period. It is a professional and a detailed report focusing on primary and secondary drivers, market share, leading segments and geographical analysis. Further, key players, major collaborations, merger & acquisitions along with trending innovation and business policies are reviewed in the report.
Key Benefits for Industry Participants & Stakeholders:
Based on region, the market is segmented into North America, Europe, Asia Pacific, Latin America and Middle East & Africa (MEA). North America region is further bifurcated into countries such as U.S., and Canada. The Europe region is further categorized into U.K., France, Germany, Italy, Spain, Russia, and Rest of Europe. Asia Pacific is further segmented into China, Japan, South Korea, India, Australia, South East Asia, and Rest of Asia Pacific. Latin America region is further segmented into Brazil, Mexico, and Rest of Latin America, and the MEA region is further divided into GCC, Turkey, South Africa, and Rest of MEA.
We have studied the EL Panel Meter Market in 360 degrees via. both primary & secondary research methodologies. This helped us in building an understanding of the current market dynamics, supply-demand gap, pricing trends, product preferences, consumer patterns & so on. The findings were further validated through primary research with industry experts & opinion leaders across countries. The data is further compiled & validated through various market estimation & data validation methodologies. Further, we also have our in-house data forecasting model to predict market growth up to 2028.
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