In 2021, the market for electrical testing services experienced year-over-year growth of 6.3%. Between 2021 and 2031, it is anticipated to grow at a CAGR of 7.1%, reaching US$ 13.4 Bn at the conclusion of the assessment period.
The market accounted for roughly 15 to 18% of the testing, inspection, and certification market as of 2020. In the same year, testing services for transformers, circuit breakers, and motors and generators accounted for 50 to 55 percent of all sales in the electrical testing services market.
Electrification efforts of emerging economies are providing a progressive platform to electrical testing services market. The developments in electricity infrastructure of the countries is thriving at rapid pace, and the move is intended to provide affordable and uninterrupted electricity to different parts across the globe. This also demands installation of power transmission equipment such as transformers, which will have a direct impact on the demand for electrical testing services market.
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The surge in demand for green energy or renewable energy sources like wind, solar, and hydro is another factor supporting the market’s expansion. Electrical testing services will experience a significant increase in demand in the near future along with the rise in demand for green energy.
Rapid Urbanization to Help MEA Mark Highest Growth Rate in Coming Years
With greater scope for development, MEA stands out to be the fastest growing region in the global electrical testing services market. Growing industrialization and urbanization will support the growth of electrical testing services in the global market over the forecast period. Thus, emerging regions that are still going under the installation processes provide a better scope for electrical testing services market. According to the International Energy Agency (IEA), by the end of 2030, 600 million out of the total 674 million people without the access to electricity live in Sub-Saharan Africa, a majority of them in the rural areas.
Attributing to this, Africa provides immense opportunities for service providers to augment their business capabilities in the region. India stands out in terms of growth in electrification rate across the country. According to IEA, half a billion people have gained electricity since 2000. In India, the electrification rate is nearly about 82% and with ongoing government initiatives, India will achieve universal access to electricity by 2020s. This is expected to open up new horizons for the augmentation of the electrical testing market in India.
Certification by Testing Services Bolsters Market Presence of Companies in the Global Market
Regular testing of the huge electric equipment becomes necessary as steel plants, and other heavy industrial equipment are particularly large in size and cumbersome to handle with. Replacement of these equipment on the account of failure usually takes months or sometimes years based on the original specifications, whereas regular testing helps avoiding failures.
The testing services work in accordance with the testing standards laid down by reputed national and international accreditation bodies. The testing service providers can significantly improve its service quality and leapfrog other players in market recognition if it complies and provide certifications of InterNational Electrical Testing Association (NETA), Bureau of Indian Standards (BIS), and Electrical Research & Development Association (ERDA).
Some recent trends such as growth of transmission and distribution network are also capable of bringing in revolutionary growth of global electric testing services market. The coming years will give a clear picture of many such influencers of electrification and electrical testing services market.
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Competitive Landscape
Companies operating in global electrical testing service market are aiming at expanding their service range for precise end use. To achieve this, they are investing increasingly in R&D activities.
Electrical testing service providers are targeting end users by providing AMC for good consumer relationships. Companies are focusing on strategic collaborations and partnerships with electrical and electronic device manufacturers to expand their service and testing network.
Schneider Electric, Siemens AG, Eaton Corporation plc, General Electric Company, ABB Inc., Power Products & Solutions, American Electrical Testing, Haugland Group LLC, Dekra, TCS Electrical Co., Phase One Electric, Intran, GEM Electrical Services, Electric Power Systems, DNV GL, Dobel Engineering Company, Inel Power, Inser Hitech Engineers Pvt. Ltd., RESA Power LLLC, Voltech Engineers Pvt. Ltd.
Global Electrical Testing Services Market by Category
By End Use:
- Power Generation Stations
- Transmission and Distribution Stations
- Steel Plants
- Major Refineries
- Railways
- Other Industrial (Laboratory, etc.)
- Data Centers
- Healthcare and Hospitality
- Commercial Establishments
By Service Type:
- Transformer Testing
- Circuit Breaker Testing
- Protection Testing
- Battery Testing
- Rotating Equipment Vibration Testing
- Motors/Generator Testing
- Thermographic Testing
By Region:
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
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