Product Code: ANV875
REPORT HIGHLIGHT
The global Electrical testing services market was valued at USD 6,906.3 million in 2021, growing with 22.7% CAGR during the forecast period, 2022-2028.
Electrical testing refers to any electrical evaluation of large electrical equipment components. Heavy machinery usually contains discrete pieces that require testing and maintenance. The main devices used in electrical testing include electrical lines, testing equipment, and monitoring devices. Aside from the obvious, electrical transformers and voltage measuring equipment account for a significant portion of the devices used for electrical testing. Industries now employ a considerable amount of automated equipment, which has been made feasible by the usage of electricity. While growing automation reduces maintenance costs for these, electrical testing maintains equipment operational.
Market Dynamics
According to an annual analysis on global worker pay, automating 45 percent of current paid operations can save an estimated $2 trillion USD. The apparent cost reductions and enhanced efficiency bode well for all industries, including those that are not yet automated. This piques people's interest and begs for further automation. This should assist the electrical testing services industry because it is an essential component of the maintenance infrastructure for such a system. The automation found in today's sectors is a trend that has spawned its own automation business. The desire for less human participation in the same to boost efficiency and deploy human resources in less humdrum areas are major drivers of this trend. In such a situation, electrical testing is a vital maintenance resource, and this market is expected to increase gradually in the future.
Global power output increased by 3.9 percent in 2018 over 2017. This increase can be attributed to the contemporary population's complete reliance on electrical activities. As automation grows, electrical equipment should find a place in every part of the globe. This aspect is projected to drive expansion in the electrical testing market. Various equipment utilized in businesses such as power generating, steel factories, and others is enormous, heavy, and difficult to manage. When this technology fails, it might take months or years to replace it, depending on the specifications provided by international certification organizations. This, however, can be improved with timely testing services that give InterNational Electrical Testing Association (NETA), Electrical Research & Development Association (ERDA), and Bureau of Indian Standards certifications (BIS). This, in turn, is likely to provide attractive growth prospects for market participants.
Segmentation Analysis:
The electrical testing service market is divided into product types such as circuit breaker testing, transformer testing, battery testing, protection testing, and others. The market is divided into end-users such as electricity production stations, transmission and distribution stations, steel mills, and others.
The transmission and distribution category led the entire electrical testing services market, accounting for more than 35% of total revenue produced worldwide. With the growing demand for dependable electricity and power among end-users such as IT & telecom hubs, and manufacturing industries, there is a need for transmission and distribution of power from the point of generation of power to the end-user, in order to maintain the functionality of the work. Electric testing services for these are most in demand.
The market's service type category includes transformer testing, circuit breaker testing, protection testing, and battery testing. A transformer is an electrical device that primarily transmits electric current by electromagnetic induction. The transformer's role is to change the voltage between two electric potentials or terminals. Transformers are essential in the power distribution process because they maintain ideal voltage levels between two terminals and assure the network's safety. As a result, it is vital to verify the resilience of transformers on a regular basis. Because of the aforementioned issue, transformer testing accounts for roughly two-fifths of the whole market, with circuit breaker testing ranking second.
North America and Europe are now the worldwide leaders in this industry because of their established industrial infrastructure, which necessitates efficient maintenance skills. As automation is brought into this industry, there is an increase in demand for electrical testing services in this region. The Asia Pacific region (APAC) is predicted to have the greatest growth in the electrical testing services market in the future. This is due to expanding industrial infrastructure and increased automation in this industry. Furthermore, as mechanical automation replaces human efficiency, this area will require more services from this industry.
Competitive Landscape:
The competitive landscape of the electrical testing services market is highly fragmented with the continual emergence of new players. Companies are adopting various strategies for the growth of their market share. For instance, Siemens Limited announced today that it has signed a contract with Power Grid Corporate of India Ltd. (PGCIL) for the construction of a 765kV test laboratory, the first of its type in India, in Bina, Madhya Pradesh, for the National High Power Test Laboratory (NHPTL). Siemens won this deal on a turnkey basis and will carry it out as an end-to-end solution provider. Siemens will provide some of its most sophisticated technologies to this project, including the 765kV Make Switch, Control and Monitoring System (CMS), and accompanying substations for 765kV and 400kV, among others. Siemens has also been engaged for the five-year yearly maintenance of this test laboratory.
Larsen & Toubro, the engineering and construction conglomerate, said on Monday that it has finalized the strategic divestiture of its electrical and automation division to Schneider Electric. With this development, India will become Schneider Electric's third-largest income source. With this, about 5,000 people from Larsen and Toubro's electrical and automation division will be combined with over 2,000 employees from Schneider Electric. Though the deal's magnitude was not mentioned, L&T signed a formal agreement with Schneider Electric in 2018 to sell it's electrical and automation business for an all-cash price of Rs 14,000 crore as part of its long-term strategy to divest non-core activities.
Key features of the study:
- This proposed research study on Electrical testing services market provides market size (US$ million), compound annual growth rate (CAGR %) and forecast estimation (2022-2028), considering 2021 as the base year
- The research report elucidates potential growth opportunities across different segments/countries and explains attractive investment proposition matrix for Electrical testing services market
- The overall report identifies new investment opportunities, challenges faced by established players, and growth factors to sustain in the Electrical testing services market
- Impact of COVID-19 on Electrical testing services market size, forecast, CAGR, and market dynamics are discussed in detail under the research scope. Detailed insight on Electrical testing services market post-COVID will also be covered.
- In order to give the users of this report a comprehensive view on the Electrical testing services market, we have also included competitive landscape and key innovator analysis for the Electrical testing services market.
- The study encompasses a growth prospect mapping analysis, wherein all the industry segments are benchmarked based on their market size, growth rate and attractiveness.
- The report offers detailed company profiling featuring major market participants which will help users to understand their financial information and strategic initiatives of players operating in the Electrical testing services market.
- In addition, the report also unveil the important acquisitions & mergers, collaborations & joint ventures, new launch, research & development, regional expansion of major participants involved in the market on global as well as regional level.
- The global Electrical testing services market report primarily caters to various stakeholders in this industry including suppliers, investors, new entrants, distributors, and financial analysts
SCOPE OF THE REPORT
The scope of this report covers the market by its major segments, which include as follows:
GLOBAL ELECTRICAL TESTING SERVICES MARKET KEY PLAYERS
- ABB Inc.
- American Electrical Testing
- Dekra
- DNV GL
- Dobel Engineering Company
- Eaton Corporation plc
- Electric Power Systems
- GEM Electrical Services
- General Electric Company
- Haugland Group LLC
- Inel Power
- Inser Hitech Engineers Pvt. Ltd.
- Intran
- Phase One Electric
- Power Products & Solutions
- RESA Power LLLC
- Schneider Electric
- Siemens AG
- TCS Electrical Co.
GLOBAL ELECTRICAL TESTING SERVICES MARKET, BY END USE TYPE
- Data Centers
- Healthcare and Hospitality
- Major Refineries
- Other Industrial (Laboratory, etc.)
- Power Generation Stations
- Railways
- Steel Plants
- Transmission and Distribution Stations
- Commercial Establishments
GLOBAL ELECTRICAL TESTING SERVICES MARKET, BY SERVICE TYPES
- Battery Testing
- Circuit Breaker Testing
- Motors/Generator Testing
- Protection Testing
- Rotating Equipment Vibration Testing
- Thermographic Testing
- Transformer Testing
GLOBAL ELECTRICAL TESTING SERVICES MARKET, BY REGION
- Europe
- Germany
- France
- Italy
- Spain
- United Kingdom
- Rest of Europe
- Asia Pacific
- India
- China
- South Korea
- Japan
- Singapore
- Rest of APAC
- Latin America
- Brazil
- Mexico
- Argentina
- Rest of LATAM
- The Middle East and Africa
- Saudi Arabia
- United Arab Emirates
- Rest of MEA
TABLE OF CONTENT
1. Electrical Testing Services Market Overview
2. Executive Summary
- 2.1. Market Snippet
- 2.1.1. Market Snippet by End User Type
- 2.1.2. Market Snippet by Service Type
- 2.1.3. Market Snippet by Country
- 2.1.4. Market Snippet by Region
- 2.2. Competitive Insights
3. Electrical Testing Services Key Market Trends
- 3.1. Market Drivers
- 3.1.1. Impact Analysis of Market Drivers
- 3.2. Market Restraints
- 3.2.1. Impact Analysis of Market Restraints
- 3.3. Market Opportunities
- 3.4. Market Future Trends
4. Electrical Testing Services Industry Study
- 4.1. Porter's Five Forces Analysis
- 4.2. Marketing Strategy Analysis
- 4.3. Growth Prospect Mapping
- 4.4. Regulatory Framework Analysis
5. Electrical Testing Services Market: COVID-19 Impact Analysis
- 5.1. Pre-COVID-19 Impact Analysis
- 5.2. Post-COVID-19 Impact Analysis
- 5.2.1. Top Performing Segments
- 5.2.2. Marginal Growth Segments
- 5.2.3. Top Looser Segments
- 5.2.4. Marginal Loss Segments
6. Electrical Testing Services Market Landscape
- 6.1. Market Share Analysis, 2020
- 6.2. Key Innovators Analysis
- 6.3. Breakdown Data, by Key Manufacturer
- 6.3.1. Established Players' Analysis
- 6.3.2. Emerging Players' Analysis
7. Electrical Testing Services Market - By End User Type
- 7.1. Overview
- 7.1.1. Segment Share Analysis, By End User Type, 2021 & 2028 (%)
- 7.1.2. Data Centers
- 7.1.3. Healthcare and Hospitality
- 7.1.4. Major Refineries
- 7.1.5. Other Industrial (Laboratory, etc.)
- 7.1.6. Power Generation Stations
- 7.1.7. Railways
- 7.1.8. Steel Plants
- 7.1.9. Transmission and Distribution Stations
- 7.1.10. Commercial Establishments
8. Electrical Testing Services Market - By Service Type
- 8.1. Overview
- 8.1.1. Segment Share Analysis, By Service Type, 2021 & 2028 (%)
- 8.1.2. Battery Testing
- 8.1.3. Circuit Breaker Testing
- 8.1.4. Motors/Generator Testing
- 8.1.5. Protection Testing
- 8.1.6. Rotating Equipment Vibration Testing
- 8.1.7. Thermographic Testing
- 8.1.8. Transformer Testing
9. Electrical Testing Services Market- By Geography
- 9.1. Introduction
- 9.1.1. Segment Share Analysis, By Geography, 2021 & 2028 (%)
- 9.2. North America
- 9.2.1. Overview
- 9.2.2. Key Manufacturers in North America
- 9.2.3. North America Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
- 9.2.4. North America Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.2.5. North America Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.2.6. U.S.
- 9.2.6.1. Overview
- 9.2.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.2.6.3. U.S. Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.2.6.4. U.S. Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.2.7. Canada
- 9.2.7.1. Overview
- 9.2.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 1.1.1.1. Canada Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 1.1.1.2. Canada Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.3. Europe
- 9.3.1. Overview
- 9.3.2. Key Manufacturers in Europe
- 9.3.3. Europe Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
- 9.3.4. Europe Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.3.5. Europe Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.3.6. Germany
- 9.3.6.1. Overview
- 9.3.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.3.6.3. Germany Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.3.6.4. Germany Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.3.7. Italy
- 9.3.7.1. Overview
- 9.3.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.3.7.3. Italy Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.3.7.4. Italy Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.3.8. United Kingdom
- 9.3.8.1. Overview
- 9.3.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.3.8.3. United Kingdom Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.3.8.4. United Kingdom Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.3.9. France
- 9.3.9.1. Overview
- 9.3.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.3.9.3. France Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.3.9.4. France Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.3.10. Rest of Europe
- 9.3.10.1. Overview
- 9.3.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.3.10.3. Rest of the Europe Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.3.10.4. Rest of the Europe Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.4. Asia Pacific (APAC)
- 9.4.1. Overview
- 9.4.2. Key Manufacturers in Asia Pacific
- 9.4.3. Asia Pacific Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
- 9.4.4. Asia Pacific Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.4.5. Asia Pacific Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.4.6. India
- 9.4.6.1. Overview
- 9.4.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.4.6.3. India Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.4.6.4. India Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.4.7. China
- 9.4.7.1. Overview
- 9.4.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.4.7.3. China Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.4.7.4. China Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.4.8. Japan
- 9.4.8.1. Overview
- 9.4.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.4.8.3. Japan Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.4.8.4. Japan Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.4.9. South Korea
- 9.4.9.1. Overview
- 9.4.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.4.9.3. South Korea Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.4.9.4. South Korea Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.4.10. Rest of APAC
- 9.4.10.1. Overview
- 9.4.10.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.4.10.3. Rest of APAC Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.4.10.4. Rest of APAC Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.5. Latin America
- 9.5.1. Overview
- 9.5.2. Key Manufacturers in Latin America
- 9.5.3. Latin America Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
- 9.5.4. Latin America Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.5.5. Latin America Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.5.6. Brazil
- 9.5.6.1. Overview
- 9.5.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.5.6.3. Brazil Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.5.6.4. Brazil Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.5.7. Mexico
- 9.5.7.1. Overview
- 9.5.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.5.7.3. Mexico Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.5.7.4. Mexico Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.5.8. Argentina
- 9.5.8.1. Overview
- 9.5.8.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.5.8.3. Argentina Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.5.8.4. Argentina Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.5.9. Rest of LATAM
- 9.5.9.1. Overview
- 9.5.9.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.5.9.3. Rest of LATAM Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.5.9.4. Rest of LATAM Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.6. Middle East and Africa
- 9.6.1. Overview
- 9.6.2. Key Manufacturers in Middle East and Africa
- 9.6.3. Middle East and Africa Market Size and Forecast, By Country, 2017 - 2028 (US$ Million)
- 9.6.4. Middle East and Africa Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.6.5. Middle East and Africa Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.6.6. Saudi Arabia
- 9.6.6.1. Overview
- 9.6.6.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.6.6.3. Saudi Arabia Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.6.6.4. Saudi Arabia Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
- 9.6.7. United Arab Emirates
- 9.6.7.1. Overview
- 9.6.7.2. Market Analysis, Forecast, and Y-O-Y Growth Rate, 2017 - 2028, (US$ Million)
- 9.6.7.3. United Arab Emirates Market Size and Forecast, By End User Type, 2017 - 2028 (US$ Million)
- 9.6.7.4. United Arab Emirates Market Size and Forecast, By Service Type, 2017 - 2028 (US$ Million)
10. Key Vendor Analysis
- 10.1. Competitive Dashboard
- 10.2. Company Profiles
- 10.2.1. ABB Inc.
- 10.2.2. American Electrical Testing
- 10.2.3. Dekra
- 10.2.4. DNV GL
- 10.2.5. Dobel Engineering Company
- 10.2.6. Eaton Corporation plc
- 10.2.7. Electric Power Systems
- 10.2.8. GEM Electrical Services
- 10.2.9. General Electric Company
- 10.2.10. Haugland Group LLC
- 10.2.11. Inel Power
- 10.2.12. Inser Hitech Engineers Pvt. Ltd.
- 10.2.13. Intran
- 10.2.14. Phase One Electric
- 10.2.15. Power Products & Solutions
- 10.2.16. RESA Power LLLC
- 10.2.17. Schneider Electric
- 10.2.18. Siemens AG
- 10.2.19. TCS Electrical Co.
11. 360 Degree Analyst View
12. Appendix
- 12.1. Research Methodology
- 12.2. References
- 12.3. Abbreviations
- 12.4. Disclaimer
- 12.5. Contact Us