In 2020, there was less demand for electrical testing services as a result of COVID-19’s negative economic effects. However, as economies recover, it will trigger a recovery in business activity across a range of industries. The need for electrical testing services will consequently increase.
Electrical testing services are a type of evaluation that include a thorough examination, scrutiny, and diagnosis of vital heavy duty electrical equipment to guarantee its longevity and operational performance. Electrical equipment includes things like transformers, rectifiers, circuit breakers, cables, transmission lines, batteries, etc.
Electrical service technological improvements have resulted in increased complexity in maintenance work and services. As a result, the need for electrical testing services designed to supplement complicated industrial networks is expected to increase in the future years.
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Key Takeaways of North America Electrical Testing Services Market Study
- In terms of service type, the demand for transformer testing and circuit breaker testing will remain considerably high through the forecast period.
- The U.S. will emerge as a highly lucrative market, accounting for maximum demand for electrical testing services in North America.
- Industrialization in China, will support expansion of the electrical testing services market in Asia Pacific.
- Favorable government policies and expansion of power generation stations will continue supporting growth in India.
“Surge in the demand for more efficient electrical devices and electrical machinery in various sectors will present attractive scope for sales of electrical testing services. In order to gain competitive strength, the market players are expected to focus on expanding their footprint in emerging markets” says a FMI analyst.
Competitive Landscape
The market is moderately consolidated, with key players accounting for more than half of the market share. These players are likely provide long-term service guarantee with annually maintaining contract. Some of the key players in the market are Schneider Electric, Siemens AG, Eaton Corporation plc, General Electric Company, ABB Inc., RESA Power LLC, Voltech Engineers Pvt. Ltd., DNV GL, Dobel Engineering Company, Power Products & Solutions, American Electrical Testing, Haugland Group LLC, Dekra, TCS Electrical Co., Phase One Electric, Intran, GEM Electrical Services and Electric Power Systems.
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Global Electrical Testing Services Market Projection
Electrical Testing Services market is likely to grow at a moderate pace during 2021-2031. As the market have competition intensity due to the offered service rate and durability of service from recognized service team. Due to the new technological evolvement in the testing equipment it makes easier for service/testing person to do it more efficiently. The companies are providing AMC for their products only due to compatibility of the parts/material used.
India Electrical Testing Services Market by Category
By Service Type:
- Transformer Testing
- Circuit Breaker Testing
- Protection Testing
- Battery Testing
By End User:
- Power Generation Stations
- Transmission and Distribution Stations
- Steel Plants
- Major Refineries
- Railways
By Region:
- North America
- Latin America
- Asia Pacific
- Europe
- Middle East & Africa (MEA)
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Future Market Insights (ESOMAR-certified market research organization and a member of the Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel, and End Use over the next 10 years.
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