The global electrical testing services market witnessed year-on-year (YoY) growth of 6.3% in 2021. It is projected to grow at a CAGR of 7.1% between 2021 and 2031, reaching US$ 13.4 Bn by the end of the assessment period. As of 2020, the market held nearly 15 to 18% of overall testing, inspection and certification market. During the same year, transformer, circuit breaker and motor / generator testing services accounted between 50 and 55% of the overall sales in the electrical testing.
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Driven by the rapid industrialization and technological advancements globally, the electrical testing services market will rise at 7.1% CAGR between 2021 and 2031 in the comparison above 2.1% CAGR registered during 2016-2020.
Demand for services such as transformer testing, circuit breaker testing, and battery testing is on the rise, which is a key factor enabling growth in the market. Testing an electrical equipment is necessary as it is associated with other works which cab affect the performance of various machines and other related things. Personal safety is the key priority for any customer or organization when they are using any kind of electrical and electronic device. The risk of encountering failure and unprecedented accidents is high if maintenance and testing is neglected.
To avoid such unforeseen challenges, most industries are willingly investing in electrical testing services. This is expected to help the market exhibit strong growth in the coming years.
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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By Segments:
By End Use:
https://www.futuremarketinsights.com/toc/rep-gb-6683
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.
Get | Download Sample Copy with Graphs & List of Figures:
https://www.futuremarketinsights.com/reports/sample/rep-gb-6683
Driven by the rapid industrialization and technological advancements globally, the electrical testing services market will rise at 7.1% CAGR between 2021 and 2031 in the comparison above 2.1% CAGR registered during 2016-2020.
Demand for services such as transformer testing, circuit breaker testing, and battery testing is on the rise, which is a key factor enabling growth in the market. Testing an electrical equipment is necessary as it is associated with other works which cab affect the performance of various machines and other related things. Personal safety is the key priority for any customer or organization when they are using any kind of electrical and electronic device. The risk of encountering failure and unprecedented accidents is high if maintenance and testing is neglected.
To avoid such unforeseen challenges, most industries are willingly investing in electrical testing services. This is expected to help the market exhibit strong growth in the coming years.
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.
For More Information or Query or Customization Before Buying, Visit:
https://www.futuremarketinsights.com/customization-available/rep-gb-6683
By Segments:
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
- Transformer Testing
- Circuit Breaker Testing
- Protection Testing
- Battery Testing
- Rotating Equipment Vibration Testing
- Motors/Generator Testing
- Thermographic Testing
- North America
- Latin America
- Europe
- East Asia
- South Asia and Pacific
- Middle East and Africa
https://www.futuremarketinsights.com/toc/rep-gb-6683
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.
- 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.
