The global India electrical testing services market is expected to be worth US$ 192.45 million by 2022, growing at a CAGR of 4.4% between 2022 and 2032. By 2032, the electrical testing service market is expected to be worth US$ 296.02 million.
Modern industry has been able to embrace a wide range of machinery with completely automated operations due to the widespread availability of dependable and economical electrical power. While growing automation of these systems aids in the reduction of maintenance costs, frequent electrical testing guarantees that all systems are in good operating order.
Due to the economic impact of COVID-19, the demand for electrical testing services declined in 2020. Nevertheless, as economies get back on track, it will lead to recovery of operations across various industries. In turn the demand for electrical testing services will grow.
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Electrical testing services are a type of examination that includes a thorough inspection, scrutiny, and diagnosis of vital heavy duty electrical equipment to assure operational performance and longevity. Electrical equipment includes transformers, rectifiers, circuit breakers, electrical cables, transmission lines, batteries and so on.
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.
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.
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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.
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
- MEA
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