[333 pages Report] 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 services market.
| Attribute | Details |
|---|---|
| Electrical Testing Service Market Value in 2021 | US$ 6.8 Bn |
| Electrical Testing Services Market Estimated Value (2031) | US$ 13.4 Bn |
| Value Based CAGR (2021 to 2031) | 7.1% |
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| Market Statistics | Details |
|---|---|
| H1,2021 (A) | 7.0% |
| H1,2022 Projected (P) | 7.2% |
| H1,2022 Outlook (O) | 7.2% |
| BPS Change : H1,2022 (O) - H1,2022 (P) | (+) 20 ↑ |
| BPS Change : H1,2022 (O) - H1,2021 (A) | (-) 2 ↓ |
Future Market Insights presents a comparison and review analysis of the dynamics of the Electrical Testing Services, one of the key trends propelling the growth of the Electrical Testing Services market is the automation seen in current industries that have created an automation industry in itself.
The desire for less human participation in the same to boost efficiency and use human resources in less humdrum areas are major drivers of this movement. In such a situation, electrical testing serves as a crucial maintenance resource, and it is predicted that this industry will continue to expand over the coming years.
As per FMI analysis, the difference between the BPS values identified in the Electrical Testing Services in H1, 2022 - Outlook over H1, 2022 Projected shows a growth of 20 units. Notably, compared to H1, 2021, the market is estimated to lose -2 BPS in H1 -2022.
The key reason for this change in growth rate is the steady increase in the production of steel across the key countries. Also, developments by the market players for the testing and development of cutting-edge technology are likely to pose excellent growth opportunities in the years to come.
Companies that provide electrical testing services globally attempt to diversify their offering for targeted end use. They are expanding their R&D spending to do this. By offering AMC strong customer connections, electrical testing service providers are focusing on end customers. To increase their service and testing network, businesses are concentrating on strategic partnerships and cooperation with producers of electrical and electronic devices.
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.
The COVID-19 outbreak has resulted in a huge reduction in electricity usage. To limit the threat of coronavirus, governments all over the world were forced to reduce commercial activities.
Lifestyle of consumers also had altered as a result of COVID-19, with people preferring to stay at home and work from home whenever possible. As a result, home load demand has increased significantly, whereas commercial and industrial load demand has decreased.
This circumstance has created new obstacles in technical and financial activities within the power sector, thus most utilities around the world have implemented a disaster management strategy to deal with it.
Furthermore, in recent years, regulatory standards governing a product's health, environment, quality, and safety have gotten stricter, prompting producers to become more concerned about product safety and seek third-party certifications. These factors are projected to have a significant impact on the electrical inspection service market globally due to amid COVID-19 crisis.
Principal Consultant
FMI has projected the U.S. electrical testing services market to remain highly lucrative through the forecast period. One of the key factors supporting growth in the U.S. is the expansion of various end-use industries in the country.
As the U.S. is home to a high number electrical and electronics companies, the demand for electrical testing services is increasing in the country. Driven by these factors, the U.S. North America.
Electrical and electronics equipment manufactured and imported in the country must follow certain regulations for safety of the product. Demand for electrical testing services is high in India, especially since the country is home to several industries. Besides this, the heavy usage of electrical devices will enable the India electrical testing service market to register a CAGR of 7.7% through 2031.
The U.K. market will exhibit growth at a steady pace backed by the presence of several key players in country. Also stringent safety standards implemented across industries will position the U.K. as an attractive pocket for sales of electrical testing services. The overall U.K. market will create incremental opportunity of US$ 223.2Mn.
Motors and generators are solely used for converting the electrical power into another form. This is done by converting frequency, voltage or phase of power used in various applications such as; power supply and other type of power generation and distribution. The demand for motors/generator testing will increase within organizations across various sectors. The motors/generator testing segment is expected to account for 17.5% of sales in 2021.
Data centers are broadly used for various application such as telecommunication and storage, which require timely maintenance for better performance. Most of the data centers are too huge and require periodic/monthly maintenance, which will allow them to create incremental opportunity of US$ 810.6 Mn in the electrical testing services market during the forecasted period.
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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.
| Attribute | Details |
|---|---|
| Forecast Period | 2021 to 2031 |
| Historical Data Available for | 2016 to 2020 |
| Market Analysis | USD Million for Value |
| Key Regions Covered | North America; Latin America; Europe; East Asia; South Asia & Pacific and Middle East and Africa. |
| Key Countries Covered | USA, Canada, Mexico, Brazil, Germany, Italy France, UK, Spain, BENELUX, Russia, Nordics, China, Japan, South Korea, India, ASEAN, Australia & New Zealand, GCC Countries, Turkey, South Africa, Northern Africa. |
| Key Segments Covered | By End Use, By Service Type, By Region |
| Key Companies Profiled | 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. |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
By End Use:
By Service Type:
By Region:
1. Executive Summary
1.1. Global Market Outlook
1.2. Demand Side Trends
1.3. Supply Side Trends
1.4. Analysis and Recommendations
2. Market Overview
2.1. Market Coverage / Taxonomy
2.2. Market Definition / Scope / Limitations
3. Key Market Trends
3.1. Key Trends Impacting the Market
3.2. Product Innovation / Development Trends
4. Key Success Factors
4.1. Product Adoption / Usage Analysis
4.2. Product USPs / Features
4.3. Strategic Promotional Strategies
5. Global Electrical Testing Services Market Demand (US$ Mn) Analysis 2016-2020 and Forecast, 2021-2031
5.1. Historical Market Value (US$ Mn) Analysis, 2016-2020
5.2. Current and Future Market Value (US$ Mn) Projections, 2021-2031
5.2.1. Y-o-Y Growth Trend Analysis
5.2.2. Absolute $ Opportunity Analysis
6. Market Background
6.1. Macro-Economic Factors
6.1.1. Global Electricity Consumption Overview
6.1.2. Global Urbanization Overview
6.1.3. European Commission
6.1.4. Parent Market Overview
6.2. Forecast Factors - Relevance & Impact
6.2.1. Competitive Intensity
6.2.2. Retail Sector Development Overview
6.2.3. Growth Rate of Commercial Installation
6.2.4. Urbanization and Energy Consumption
6.2.5. Growth of Industrialization
6.3. Value Chain Analysis
6.4. List of Distributors/Local Players
6.5. Covid-19 Crisis – Impact Assessment
6.5.1. Introduction
6.5.2. World Economy/Cluster Projections
6.5.3. Potential Impact by Taxonomy
6.5.4. Impact on Market Size
6.5.5. Recovery Scenario
6.6. Market Dynamics
6.6.1. Drivers
6.6.2. Restraints
6.6.3. Opportunity Analysis
7. Global Electrical Testing Services Market Analysis 2016–2020 and Forecast 2021–2031, By Service Type
7.1. Introduction / Key Findings
7.2. Historical Market Size (US$ Mn) and Volume Analysis By Service Type, 2016–2020
7.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By Service Type, 2021–2031
7.3.1. Transformer Testing
7.3.2. Circuit Breaker Testing
7.3.3. Protection Testing
7.3.4. Battery Testing
7.3.5. Rotating Equipment and Vibration Testing
7.3.6. Motors/Generator Testing
7.3.7. Thermographic Testing
7.4. Market Attractiveness Analysis By Type
8. Global Electrical Testing Services Market Analysis 2016–2020 and Forecast 2021–2031, By End-Use
8.1. Introduction / Key Findings
8.2. Historical Market Size (US$ Mn) and Volume Analysis By End-Use, 2016–2020
8.3. Current and Future Market Size (US$ Mn) and Volume Analysis and Forecast By End-Use, 2021–2031
8.3.1. Power Generation Stations
8.3.2. Transmission and Distribution Stations
8.3.3. Steel Plants
8.3.4. Major Refineries
8.3.5. Railways
8.3.6. Others (Laboratories, etc.)
8.3.7. Data Centers
8.3.8. Healthcare and Hospitality
8.3.9. Commercial Establishments
8.4. Market Attractiveness Analysis By End-Use
9. Global Electrical Testing Services Market Analysis 2016–2020 and Forecast 2021–2031, by Region
9.1. Introduction
9.2. Historical Market Size (US$ Mn) and Volume Analysis By Region, 2016–2020
9.3. Current Market Size (US$ Mn) and Volume Analysis and Forecast By Region, 2021–2031
9.3.1. North America
9.3.2. Latin America
9.3.3. Europe
9.3.4. East Asia
9.3.5. South Asia Pacific
9.3.6. Middle East & Africa
9.4. Market Attractiveness Analysis By Region
10. North America Electrical Testing Services Market Analysis 2016–2020 and Forecast 2021–2031
10.1. Introduction
10.2. Pricing Analysis
10.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2016–2020
10.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2021–2031
10.4.1. By Country
10.4.1.1. U.S.
10.4.1.2. Canada
10.4.2. By Service Type
10.4.3. By End-Use
10.5. Market Attractiveness Analysis
10.5.1. By Country
10.5.2. By Service Type
10.5.3. By End-Use
10.6. Market Trends
10.7. Drivers and Restraints - Impact Analysis
10.8. Key Market Participants - Intensity Mapping
11. Latin America Electrical Testing Services Market Analysis 2011–2020 and Forecast 2021–2031
11.1. Introduction
11.2. Pricing Analysis
11.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2011–2020
11.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2021–2031
11.4.1. By Country
11.4.1.1. Brazil
11.4.1.2. Mexico
11.4.1.3. Rest of LATAM
11.4.2. By Service Type
11.4.3. By End-Use
11.5. Market Attractiveness Analysis
11.5.1. By Country
11.5.2. By Service Type
11.5.3. By End-Use
11.6. Market Trends
11.7. Drivers and Restraints - Impact Analysis
11.8. Key Market Participants - Intensity Mapping
12. Europe Electrical Testing Services Market Analysis 2016–2020 and Forecast 2021–2031
12.1. Introduction
12.2. Pricing Analysis
12.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2016–2020
12.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2021–2031
12.4.1. By Country
12.4.1.1. Germany
12.4.1.2. Italy
12.4.1.3. France
12.4.1.4. U.K.
12.4.1.5. Spain
12.4.1.6. BENELUX
12.4.1.7. Russia
12.4.1.8. NORICS
12.4.1.9. Rest of Europe
12.4.2. By Service Type
12.4.3. By End-Use
12.5. Market Attractiveness Analysis
12.5.1. By Country
12.5.2. By Service Type
12.5.3. By End-Use
12.6. Market Trends
12.7. Drivers and Restraints - Impact Analysis
12.8. Key Market Participants - Intensity Mapping
13. East Asia Electrical Testing Services Market Analysis 2016–2020 and Forecast 2021–2031
13.1. Introduction
13.2. Pricing Analysis
13.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2016–2020
13.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2021–2031
13.4.1. By Country
13.4.1.1. China
13.4.1.2. Japan
13.4.1.3. South Korea
13.4.2. By Service Type
13.4.3. By End-Use
13.5. Market Attractiveness Analysis
13.5.1. By Country
13.5.2. By Service Type
13.5.3. By End-Use
13.6. Market Trends
13.7. Drivers and Restraints - Impact Analysis
13.8. Key Market Participants - Intensity Mapping
14. South Asia Pacific Electrical Testing Services Market Analysis 2016–2020 and Forecast 2021–2031
14.1. Introduction
14.2. Pricing Analysis
14.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 2016–2020
14.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 2021–2031
14.4.1. By Country
14.4.1.1. India
14.4.1.2. ASEAN
14.4.1.3. ANZ
14.4.1.4. Rest of SAP
14.4.2. By Service Type
14.4.3. By End-Use
14.5. Market Attractiveness Analysis
14.5.1. By Country
14.5.2. By Service Type
14.5.3. By End-Use
14.6. Market Trends
14.7. Drivers and Restraints - Impact Analysis
14.8. Key Market Participants - Intensity Mapping
15. Middle East and Africa Electrical Testing Services Market Analysis 1516–1515 and Forecast 1521–1531
15.1. Introduction
15.2. Pricing Analysis
15.3. Historical Market Size (US$ Mn) and Volume Trend Analysis By Market Taxonomy, 1516–1515
15.4. Market Size (US$ Mn) and Volume Forecast By Market Taxonomy, 1521–1531
15.4.1. By Country
15.4.1.1. GCC Countries
15.4.1.2. Turkey
15.4.1.3. South Africa
15.4.1.4. Rest of MEA
15.4.2. By Service Type
15.4.3. By End-Use
15.5. Market Attractiveness Analysis
15.5.1. By Country
15.5.2. By Service Type
15.5.3. By End-Use
15.6. Market Trends
15.7. Drivers and Restraints - Impact Analysis
15.8. Key Market Participants - Intensity Mapping
16. Key and Emerging Countries for Electrical Testing Services Market Analysis
16.1. Introduction
16.1.1. Market Value Proportion Analysis, By Key Countries
16.1.2. Global Vs. Country Growth Comparison
16.2. U.S. Electrical Testing Services Market Analysis
16.2.1. By Type
16.2.2. By End-Use
16.3. Canada Electrical Testing Services Market Analysis
16.3.1. By Type
16.3.2. By End-Use
16.4. Mexico Electrical Testing Services Market Analysis
16.4.1. By Type
16.4.2. By End-Use
16.5. Brazil Electrical Testing Services Market Analysis
16.5.1. By Type
16.5.2. By End-Use
16.6. Germany Electrical Testing Services Market Analysis
16.6.1. By Type
16.6.2. By End-Use
16.7. Italy Electrical Testing Services Market Analysis
16.7.1. By Type
16.7.2. By End-Use
16.8. France Electrical Testing Services Market Analysis
16.8.1. By Type
16.8.2. By End-Use
16.9. U.K. Electrical Testing Services Market Analysis
16.9.1. By Type
16.9.2. By End-Use
16.10. Spain Electrical Testing Services Market Analysis
16.10.1. By Type
16.10.2. By End-Use
16.11. BENELUX Electrical Testing Services Market Analysis
16.11.1. By Type
16.11.2. By End-Use
16.12. Russia Electrical Testing Services Market Analysis
16.12.1. By Type
16.12.2. By End-Use
16.13. NORDICS Electrical Testing Services Market Analysis
16.13.1. By Type
16.13.2. By End-Use
16.14. China Electrical Testing Services Market Analysis
16.14.1. By Type
16.14.2. By End-Use
16.15. Japan Electrical Testing Services Market Analysis
16.15.1. By Type
16.15.2. By End-Use
16.16. South Korea Electrical Testing Services Market Analysis
16.16.1. By Type
16.16.2. By End-Use
16.17. India Electrical Testing Services Market Analysis
16.17.1. By Type
16.17.2. By End-Use
16.18. ASEAN Electrical Testing Services Market Analysis
16.18.1. By Type
16.18.2. By End-Use
16.19. Australia and New Zealand Electrical Testing Services Market Analysis
16.19.1. By Type
16.19.2. By End-Use
16.20. GCC Countries Electrical Testing Services Market Analysis
16.20.1. By Type
16.20.2. By End-Use
16.21. Turkey Electrical Testing Services Market Analysis
16.21.1. By Type
16.21.2. By End-Use
16.22. South Africa Electrical Testing Services Market Analysis
16.22.1. By Type
16.22.2. By End-Use
17. Market Structure Analysis
17.1. Market Analysis by Tier of Companies (Electrical Testing Services)
17.2. Market Concentration
17.3. Market Share Analysis of Top Players
17.4. Market Presence Analysis
17.4.1. Regional Footprint of Players
17.4.2. Product Footprint by Players
18. Competition Analysis
18.1. Competition Dashboard
18.2. Competition Benchmarking
18.3. Competition Depp Dive
18.3.1. Schneider Electric
18.3.1.1. Overview
18.3.1.2. Product Portfolio
18.3.1.3. Sales Footprint
18.3.1.4. Strategy Overview
18.3.2. Siemens AG
18.3.3. Eaton Corporation PLC
18.3.4. General Electric
18.3.5. ABB Inc.
18.3.6. Power Products & Solutions
18.3.7. American Electrical Testing
18.3.8. Haugland Group LLC
18.3.9. Dekra
18.3.10. TCS Electrical Co.
18.3.11. Phase One Electric
18.3.12. Intran
18.3.13. GEM Electrical Services
18.3.14. Electric Power Systems
18.3.15. RESA Power LLC
18.3.16. DNV GL
18.3.17. Dobel Engineering Company
19. Assumptions and Acronyms Used
20. Research Methodology
Industrial Automation
June 2023
REP-GB-14222
167 pages
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Electrical Testing Services Market
