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Power Electronic Testing Market to Surpass USD 12.13 Billion by 2032, at 9.43% CAGR

Austin, Aug. 12, 2025 (GLOBE NEWSWIRE) — Power Electronic Testing Market Size & Growth Insights: According to the SNS Insider,'The Power Electronic Testing Market size was valued at USD 5.90 Billion in 2024 and is projected to reach USD 12.13 Billion by 2032, growing at a CAGR of 9.43% during 2025-2032.' Rising Demand for Advanced Semiconductors Drives Growth in Power Electronic Testing Market Growth In Power Electronic Testing Market Power electronic testing market is gaining traction heavily due to rise in adoption of next-generation semiconductor versatile materials, such as silicon carbide (SiC) and gallium nitride (GaN) in high-performance applications including electric vehicle (EV) applications, renewable energy, and aerospace sector. Such materials need to be exhaustively tested with regards to high voltage and thermal stresses to demonstrate performance and durability like the extreme values above. The increasing complexity of power systems further necessitates accurate, time-bound testing solutions in the context of widespread switches to digital controls and IoT. In addition, the need for investments in high-end testing infrastructure is being driven by stricter global regulations and growing emphasis on energy efficiency and safety standards. Technological advances such as China's successful SiC space field trials, emphasize the increasing importance testing plays in next-generation energy systems. Get a Sample Report of Power Electronic Testing Market Forecast @ Leading Market Players with their Product Listed in this Report are: SGS SA Bureau Veritas Intertek Group plc Advantest Corporation Teradyne Inc. DEKRA TÜV SÜD National Instruments Corp. TÜV Rheinland TÜV NORD Group UL LLC Cohu Inc. Rohde & Schwarz Keysight Technologies Chroma ATE Inc. Tektronix EA Elektro-Automatik Fluke Corporation Yokogawa Electric Corporation Sigma-Aldrich (Merck KGaA) Power Electronic Testing Market Report Scope: Report Attributes Details Market Size in 2024 USD 5.90 Billion Market Size by 2032 USD 12.13 Billion CAGR CAGR of 9.43% From 2025 to 2032 Report Scope & Coverage Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook Key Segmentation • By Provision Type(Test Instruments and Equipment, Professional Testing Services)• By Device Type(Individual Power Provision Types, Multi-Device Modules, Power Management ICs) • By End Use (Industrial Automation and Machinery, Automotive and Mobility Solutions, Information & Communication Technology (ICT), Consumer Electronics and Devices, Renewable Power and Utility Networks, Aerospace and Defense Applications, Others) Purchase Single User PDF of Power Electronic Testing Market Report (20% Discount) @ Key Industry Segmentation By Provision Type The Test Instruments and Equipment segment dominated the power electronic testing market in 2024, accounting for approximately 66% of the total market share due to the increasing demand for highly accurate tools for new SiC and GaN based topologies used in electric vehicles and renewable energy systems. From the period of 2025 to 2032, Professional Testing Services is expected to experience the largest compound annual growth rate of 13.13%, as companies opt to outsource more complex testing to companies that specialize in complex testing so as to reduce costs, accelerate product cycles, and ensure regulatory precision costs effectively. By Device Type In 2024, the Individual Power Provision Types segment captured around 61% of the Power Electronic Testing market share, driven by the growing need for component-level testing to ensure precise performance and fault detection across EVs, industrial automation, and renewable energy sectors. Multi-Device Modules is expected to be the fastest growing segment, which is projected to have a CAGR of 16.89% from 2025 to 2032 because multiple SiC-based devices are being integrated into compact modules, which needs to be tested for performance as a whole in more complex, high power, and high-frequency systems. By End-Use In 2024, the Automotive and Mobility Solutions segment held around 61% of the Power Electronic Testing market share, driven by the surge in electric and hybrid vehicle adoption and the need for precise testing of powertrains, batteries, inverters, and chargers to ensure performance and compliance. The Renewable Power and Utility Networks segment is projected to grow at the fastest CAGR of 18.45% from 2025 to 2032, fueled by the rising deployment of solar, wind, and energy storage systems, necessitating accurate testing of grid-connected power electronics. Regional Insights: Asia Pacific Leads, North America and Europe Accelerate in Power Electronic Testing Market In 2024, Asia Pacific led the Power Electronic Testing market with a 44% revenue share, driven by strong consumer electronics, EV production, and semiconductor manufacturing. Countries like China, Japan, and South Korea are rapidly expanding high-voltage testing infrastructure to support fast-paced innovation. North America is projected to witness the fastest growth through 2032 at a CAGR of 11.14%, fueled by investments in EVs, renewables, and semiconductor development, supported by policies like the Inflation Reduction Act. Europe is emerging as a key region, with strong EV adoption, renewable integration, and regulatory focus on energy efficiency. LATAM and MEA show steady growth driven by rising electrification, grid modernization, and energy efficiency awareness. Do you have any specific queries or need any customized research on Power Electronic Testing Market? Submit your inquiry here @ Recent Developments: In July 2025, SGS SA's USD 1.325 billion acquisition of ATS marks a strategic push into North America, enhancing its global testing and certification presence. With projected synergies boosting EBITDA to USD 125 million by 2026, the 11.2x multiple signals a calculated move to gain high-margin capabilities and long-term growth. In Aug 2025, Teradyne Launches Magnum 7H to Revolutionize HBM Device Testing Across AI Servers The Magnum 7H supports HBM2E to HBM4E with ultra-fast, high-accuracy, and parallel testing, boosting throughput by 1.6x for next-gen memory validation. Exclusive Sections of the Report (The USPs) Regional Sales Volume Benchmarks – helps you compare annual sales volume across major regions in 2023, highlighting demand hotspots and lagging markets. helps you compare annual sales volume across major regions in 2023, highlighting demand hotspots and lagging markets. Technology Design Evolution Tracker – helps you analyze past-to-future trends in circuit topology, integration levels, and semiconductor materials like SiC and GaN. helps you analyze past-to-future trends in circuit topology, integration levels, and semiconductor materials like SiC and GaN. Consumer Adoption Dynamics – helps you understand how buyer preferences, pricing sensitivity, and application-specific requirements are shaping demand in 2023. helps you understand how buyer preferences, pricing sensitivity, and application-specific requirements are shaping demand in 2023. Supply Chain Resilience Metrics – helps you identify vulnerabilities and strengths in component sourcing, manufacturing hubs, and lead time variability. helps you identify vulnerabilities and strengths in component sourcing, manufacturing hubs, and lead time variability. Cost-To-Performance Ratio Insights – Helps You Evaluate How Design Efficiency And economies of scale are improving price-performance ratios across device categories. Helps You Evaluate How Design Efficiency And economies of scale are improving price-performance ratios across device categories. Regulatory & Standardization Trends – helps you track how global environmental regulations and industry standards are influencing design and procurement decisions. About Us: SNS Insider is one of the leading market research and consulting agencies that dominates the market research industry globally. Our company's aim is to give clients the knowledge they require in order to function in changing circumstances. In order to give you current, accurate market data, consumer insights, and opinions so that you can make decisions with confidence, we employ a variety of techniques, including surveys, video talks, and focus groups around the world. Disclaimer: The above press release comes to you under an arrangement with GlobeNewswire. Business Upturn takes no editorial responsibility for the same. Ahmedabad Plane Crash