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European Used & Rental General Purpose Test Equipment Market
Frost & Sullivan, June 2009, Pages: 100
End-user Emphasis on Operational Expenses, Rather than Capital Expenditure, to Fuel the Demand for Rental General-purpose Test Equipment
Used and rental general-purpose test equipment is widely accepted by end-user sectors, including communications, aerospace and defence and industrial and automotive. The availability of products based on end users’ budgets has been a key driver to uptake. The current end-user focus on operational, rather than capital, outlays will promote the uptake of rental general-purpose test equipment.
“The liberty enjoyed by purchasers to terminate the rental contract anytime that the equipment is no longer required has proved to be a major driver for market growth,” notes the analyst of this research. “Moreover, end-users perceive the absence of maintenance requirements as a key benefit. “ Customer awareness about the existence of the used equipment market and the various options available for renting/leasing equipment is supporting demand. End users opt for used or rental equipment based on their requirements. This could include budget allocation, term of usage and product availability.
Multi-pronged Strategy Necessary to Succeed
There has been rising demand for used equipment, as buyers can potentially save nearly 30-80 per cent from a price perspective, while still being able to receive product support along with warranty conditions similar to when they purchase new equipment. “However, with no established pricing benchmarks, end users are demanding more functionality in their equipment albeit at a lower cost,” cautions the analyst. “To remain competitive, used equipment vendors are offering discounts.” In a parallel development, brokers have become more active in the market as they offer more competitive prices than direct dealers and manufacturers. However, as brokers isolate the user from the buyer, there is no transparency regarding the condition of the equipment.
Vendors need to provide solid return on investment (ROI). This will enable them to convince end users, while expanding their customer base. “Suppliers need to provide value added services and asset management services,” advises the analyst. “They should partner with financial institutions to better guide customers in terms of the financial outlays associated while buying/renting equipment.”
Market Sectors
Expert Frost & Sullivan analysts thoroughly examine the following end user sectors in this research:
- Communications
- Electronic manufacturing
- Industrial and automotive
- Aerospace and defence
- Others
By Product:
- Electronic counters
- Oscilloscopes
- Network analysers
- Spectrum analysers
- Power meters
- Signal generators
- Multimeters
This Frost & Sullivan research service titled European Used & Rental General Purpose Test Equipment Market provides a comprehensive analysis on end-user segments, geographic regions and market ranking of participants. In this research, Frost & Sullivan's expert analysts thoroughly examine the following end-user segments: communications, electronic manufacturing, industrial and automotive, aerospace and defence and others.
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