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India Electrical Testing Services Market

Opportunities Abound for Electrical Testing Services as Indian Companies Build Key Regional Strategies for Growth

India Electrical Testing Services Market by Service Type, End User & Region - Forecast 2022 – 2032

India Electrical Testing Services Market Outlook (2022-2032)

[309 Pages Report] The global India electrical testing services market is expected to reach a market valuation of USD 192.45 Mn by the year 2022, accelerating with a CAGR of 4.4% by 2022-2032. The electrical testing service market is expected to reach a valuation of US$ 296.02 Mn by 2032.

The widespread availability of reliable and affordable electrical power has allowed the modern industry to adopt a wide range of machines with fully automated operations. While the greater automation of these systems helps keep maintenance costs down, regular electrical testing ensures that all systems are in peak working order.

Future Market Insights reports that the drive for efficiency across industries is driving an increase in the prevalence of automated processes within such industries. The rising worldwide demand for industrial goods necessitates a level of efficiency that is beyond the reach of conventional manufacturing methods. When it comes to the reliability of automation in these sectors, electrical testing is the backbone. Demand for industrial electronics is expected to rise worldwide between 2020 and 2030 as a result of increased levels of automation.

India Electrical Testing Services Market Size (2022E)

USD 192.45 Mn

India Electrical Testing Services Market Projected Size (2032F)

USD 296.02 Mn

Value CAGR (2022-2032)

4.4%

An annual assessment on worldwide worker compensation estimates that $2 trillion USD may be saved by automating 45% of currently paid tasks. The obvious cost reductions and enhanced efficiency bode well for all areas of industry, even those that have not yet been automated. People's interest in learning more about something is piqued, and this situation demands increased automation. Due to its importance in the system's upkeep, the electrical testing services sector stands to gain from this development.

The widespread use of automation in modern manufacturing has spawned a new sector of the economy. The demand for less human participation in the same to boost efficiency and engage human resources in less humdrum areas is a major factor driving this development. The market for electrical testing is expected to expand gradually in the next years as it represents a crucial resource for maintenance in such an environment.

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Key Trends of the India Electrical Testing Services Market: What’s Driving it Forward and What’s Holding it Back

During the predicted time period, the electrical testing services market in India is anticipated to increase due to the country's steadily expanding steel production industry.

The market is growing primarily because steel production is steadily rising across the country. In fact, India is responsible for the third-highest crude steel output in the world, as reported by the World Steel Association (WSA).

Increase in production output have been recorded at a 2.6% annual pace in India, according to the same source. That said, the average annual output rate of production since 2006 has been 6.5%. Thus the current growth rate is slightly below that. When using electricity as the power source, Electric Arc Reactors are a common manufacturing process for creating steel. Therefore, the expansion of the Indian electrical testing services market is anticipated to be driven by the country's increasing yearly steel production and expanding power market.

India's electrical testing services market is predicted to grow at a steady clip over the forecast period, fueled by rising demand and rising demands for electric power in rural areas

India's central government has taken the initiative to wire rural areas with electricity. The expanded distribution and transmission network should lead to more electricity being generated in India. Additionally, the Indian government has plans to electrify more than 55 million homes by 2018, which should increase electricity demand and, consequently, sales. As a result, the rising demand for electrical power in rural areas is anticipated to fuel market expansion soon.

Nikhil Kaitwade
Nikhil Kaitwade
Principal Consultant
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Growth in the Indian electrical testing services market is likely to be slowed by rising in-house capabilities of electrical testing services over the forecast period

Presently, businesses outsource electrical testing services to concentrate on their core competencies. While this trend is expected to continue, clients are expected to have to pay more upfront when they hire an outside company to perform testing. Moreover, businesses are developing their own testing divisions, complete with the tools and trained professionals they need to conduct their own tests. Because of this, the cost of using an external service to conduct tests is likely to rise, which might slow the expansion of the India electrical testing services market.

The expansion of the India electrical testing services market is anticipated to be slowed by the high cost of testing equipment and the rising need for educated professionals

The monitoring of electrical components, including circuit breakers, transformers, and other devices, calls for a wide range of instruments. Unfortunately, the extreme nature of the technology these tools evaluate makes them quite pricey. High voltages, current fluctuations, and other extreme circumstances must be withstood by these testing instruments.

Because of this, the initial expenditure required to produce these instruments is quite significant. In addition, these instruments can only be used safely and responsibly in the hands of skilled professionals. Because of this, the future growth of the electrical testing service market in India is anticipated to be hampered by the aforementioned factors.

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Comparative View Of Adjacent India Electrical Testing Services Market

India Electrical Testing Services Market:

Attributes

India Electrical Testing Services Market

Cagr (2022 To 2032)

4.4%

Market Value (2022)

US$ 192.45 Mn

Growth Factor

The electrical testing services market in India is predicted to expand thanks to the country's steadily expanding steel production sector over the forecast period.

Future Opportunities

The expansion of the India electrical testing services market is anticipated to be fuelled by the rising demand and rising requirements for electric power in rural areas.

Market Trends

Growth in the India electrical testing services market is anticipated to be slowed by rising in-house capabilities of electrical testing services over the projected period.

Cyber Security Market:

Attributes

Cyber Security Market

Cagr (2022 To 2032)

8.9%

Market Value (2022)

US$ 173.5 Bn

Growth Factor

Increased data breaches, expanding need for Internet of Things security solutions, growing fears for cyberattacks on key infrastructure, and so on.

Future Opportunities

The Internet of Things (IoT) is a major driver of digital change in the workplace, with the potential to boost efficiency, productivity, and profitability in the cybersecurity industry.

Market Trends

The global cybersecurity market is dominated by North American companies like Rapid7, Microsoft, Palo Alto Networks, and many more.

Digital Transformation Market:

Attributes

Digital Transformation Market

Cagr (2022 To 2032)

21.1%

Market Value (2022)

US$ 594.5 Bn

Growth Factor

The proliferation of mobile phones and software is driving the market forward.

Future Opportunities

The rapid evolution of mobile devices and apps, the decreasing cost of cloud-based digital transformation solutions, and the introduction of machine learning and artificial intelligence have all contributed to the explosive growth of the Digital Transformation Market.

Market Trends

It is expected that mobile and social media would generate the biggest market share over the predicted time frame.

Rising steel production in major economies is largely responsible for the acceleration in the growth rate. Further, innovations by market participants for the testing and development of cutting-edge technology are projected to present tremendous growth prospects in the years ahead.

Businesses that perform electrical testing worldwide often want to broaden their product line to appeal to a wider range of customers. For this purpose, they are increasing their investment in R&D. Service providers in the field of electrical maintenance services and testing are catering to final consumers by providing reliable AMC connections. Strategic alliances and cooperation with electrical and electronic equipment manufacturers are becoming increasingly important as organizations look to expand their service and testing network.

Category-wise Insights

Market share for electrical testing services in India is dominated by transformer testing.

Transformer testing, circuit breaker testing, protection testing, and battery testing are all a part of the market's service type subsegment. It is common knowledge that transformers are electrical devices that are employed to transmit electrical current via electromagnetic induction. To change the potential difference between two electrical terminals or potentials is the transformer's primary purpose.

Market share in India's electrical testing services industry is dominated by transformer testing, which accounts for over 40%. This is followed by circuit breaker testing, which accounts for over 30%. Protection testing, on the other hand, is expected to develop at the fastest rate in the market, with a compound annual growth rate (CAGR) of 5.1%, because end users are keener on conducting regular tests of the protective relays.

Competitive Landscape

Electrical testing companies in India are highly fragmented, with many players available to provide testing of electrical equipment. A few major dedicated testing service providers identified in the market include Intel Power System Engineers Pvt. Ltd., Technomark Engineers India Pvt. Ltd., Voltech Group, Inser Hitech Engineers Pvt. Ltd., Powertest Asia Pvt. Ltd., Rulka Electricals Pvt. Ltd., Ultra Electric Company India Pvt. Ltd. and JBS Enterprises Pvt. Ltd., among others.

Start-up and Competitive Outlook

Electrical testing companies around the world are working to broaden the scope of their offerings to better suit the needs of their customers. To do this, they are boosting their spending on research and development.

Providers of electrical testing services are focusing on end users by offering AMC as a means of maintaining positive relationships with customers. In order to broaden their service and testing network, businesses are concentrating on strategic collaborations and partnerships with electrical and electronic equipment makers. Here are the top three companies defining the market:

EpVi

EpVi was established in 2017 and offers an IoT gadget powered by AI and SaaS to monitor electrical consumption in real time. To detect electricity waste and track consumption in real time, it employs machine learning technology. It allows for scheduling and remote access. The company also provides an app for iOS and Android devices that can be used to control the power in smart homes.

Technomark Engineers India Pvt. Ltd.

As a private Indian company, Technomark Engineers specialises in energy management. The business provides EPC (engineering, procurement, and construction), T&D (transmission and distribution), O&M (overhaul and refurbishment), and F&S (fire and safety) services for substations operating at very high voltages.

Voltech Group

In the field of electrical engineering, Voltech Group is a leading provider. As an electronics supplier, it offers transformers, switchgear, flameproof gear, and more. As a company, we provide services including control and relay panel division, transformer, and more.

Embracing the New Trends in Electrical Testing

The electrical testing services market in India is predicted to see significant growth due to the country's emphasis on power generation.

Current electricity generation in India is adequate to meet the needs of all residents. However, only about 55% of Indian households are reached by the country's weak distribution and transmission network. The analysis concludes that, despite the country's expanding population and number of households, there is no pressing need for new power plants in India for at least the next three years if the country's existing fleet of generators is utilised to its fullest capacity. Electrical Testing Services market expansion can be attributed to this factor soon.

Market participants can anticipate significant growth thanks to certification testing designed to raise the standard of available products.

Equipment utilised in power plants, steel mills, and other heavy industries is notoriously cumbersome and cumbersome due to their size and weight. When this equipment breaks down, replacing it can take months to years depending on the requirements set forth by international accrediting bodies. However, this can be enhanced by employing on-demand testing services that are accredited by organisations like the National Electrical Testing Association (NETA), the Electrical Research and Development Association (ERDA), and the Bureau of Indian Standards (BIS). As a result, it's anticipated that leading companies in the market is expected to be presented with promising expansion possibilities.

Increases in product variety and cutting-edge technological advancements in testing services are anticipated to provide favourable market conditions.

Soon, market participants can anticipate significant growth prospects brought about by the introduction of novel items used in the testing and development of cutting-edge technologies. Recent developments in technology have led to an increase in the demand for electrical testing services, as various instruments, such as multimeters, Ohmmeters, Ammeters, Signal Tracers, Logic Analysers, and others, are employed.

An additional market development is the electrification of railways and the advent of proactive measures for the T&D Network.

Several initiatives have been launched by the government of India to improve and expand the country's transmission and distribution network. To achieve this goal, we must address issues like power theft, theft, bureaucracy, and the replacement of outdated machinery. Additionally, India's electrification of its railway lines is another massive undertaking that is making steady progress, with more than 40% of the network now electrified.

Transformer Testing Emerging as a Leader in the Indian Electrical Testing Services Market

More than 40% of the electrical testing services market in India are dedicated to transformer testing, with circuit breaker testing coming in at a close second with 30%. Protection testing, on the other hand, is expected to expand at the highest CAGR in the market, at 5.1%, because end users prefer to test the protective relays more regularly.

Scope of the Report

Attribute

Details

Forecast Period

2022-2032

Historical Data Available for

2017-2021

Market Analysis

USD Mn for Value and Mn. Sq. M. for Volume

Key Regions Covered

North America, Latin America, Europe, East Asia, South Asia, and the Middle East & Africa

Key Countries Covered

US, Brazil, Mexico, Germany, U.K., China, India, Japan, Australia, and GCC Countries

Key Segments Covered

Service Type, End User, Region

Key Companies Profiled

  • Fibrestar, Inc.
  • CP Kelco U.S., Inc.
  • Ceamsa
  • Cargill, Incorporated
  • DuPont de Nemours Inc.
  • Lucid Colloids Ltd.
  • Silvateam S.p.a.
  • Yantai Andre Pectin Co. Ltd.
  • Herbstreith & Fox Group
  • Herbafood Ingredients GmbH
  • Carolina Ingredients
  • UNIPEKTIN Ingredients AG

Report Coverage

Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives

Customization & Pricing

Available upon Request

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

Frequently Asked Questions

Throughout the forecast period, the India Electrical Testing Services market is expected to grow at a CAGR of 4.4%.

By 2032, the India Electrical Testing Services market is expected to be worth USD 296.02 Mn.

Rise in steel production is driving the India electrical testing services market growth.

Major India Electrical Testing Services market players use strategies such as introducing new products and improving them, as well as investing in research and development.

Table of Content

1. Executive Summary

    1.1. India Market Outlook

    1.2. Demand-side Trends

    1.3. Supply-side Trends

    1.4. Technology Roadmap Analysis

    1.5. Analysis and Recommendations

2. Market Overview

    2.1. Market Coverage / Taxonomy

    2.2. Market Definition / Scope / Limitations

3. Market Background

    3.1. Market Dynamics

        3.1.1. Drivers

        3.1.2. Restraints

        3.1.3. Opportunity

        3.1.4. Trends

    3.2. Scenario Forecast

        3.2.1. Demand in Optimistic Scenario

        3.2.2. Demand in Likely Scenario

        3.2.3. Demand in Conservative Scenario

    3.3. Opportunity Map Analysis

    3.4. Investment Feasibility Matrix

    3.5. PESTLE and Porter’s Analysis

    3.6. Regulatory Landscape

        3.6.1. By Key Countries

    3.7. Regional Parent Market Outlook

4. India Market Analysis 2017-2021 and Forecast, 2022-2032

    4.1. Historical Market Size Value (US$ Mn) Analysis, 2017-2021

    4.2. Current and Future Market Size Value (US$ Mn) Projections, 2022-2032

        4.2.1. Y-o-Y Growth Trend Analysis

        4.2.2. Absolute $ Opportunity Analysis

5. India Market Analysis 2017-2021 and Forecast 2022-2032, By Service Type

    5.1. Introduction / Key Findings

    5.2. Historical Market Size Value (US$ Mn) Analysis By Service Type, 2017-2021

    5.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By Service Type, 2022-2032

        5.3.1. Transformer Testing

        5.3.2. Circuit Breaker Testing

        5.3.3. Protection Testing

        5.3.4. Battery Testing

    5.4. Y-o-Y Growth Trend Analysis By Service Type, 2017-2021

    5.5. Absolute $ Opportunity Analysis By Service Type, 2022-2032

6. India Market Analysis 2017-2021 and Forecast 2022-2032, By End User

    6.1. Introduction / Key Findings

    6.2. Historical Market Size Value (US$ Mn) Analysis By End User, 2017-2021

    6.3. Current and Future Market Size Value (US$ Mn) Analysis and Forecast By End User, 2022-2032

        6.3.1. Power Generation Stations

        6.3.2. Transmission and Distribution Stations

        6.3.3. Steel Plants

        6.3.4. Major Refineries

        6.3.5. Railways

    6.4. Y-o-Y Growth Trend Analysis By End User, 2017-2021

    6.5. Absolute $ Opportunity Analysis By End User, 2022-2032

7. Key Countries Market Analysis

    7.1. India

        7.1.1. Pricing Analysis

        7.1.2. Market Share Analysis, 2021

            7.1.2.1. By Service Type

            7.1.2.2. By End User

8. Market Structure Analysis

    8.1. Competition Dashboard

    8.2. Competition Benchmarking

    8.3. Market Share Analysis of Top Players

        8.3.1. By Country

        8.3.2. By Service Type

        8.3.3. By End User

9. Competition Analysis

    9.1. Competition Deep Dive

        9.1.1. Inel Power System Engineers Pvt. Ltd

            9.1.1.1. Overview

            9.1.1.2. Product Portfolio

            9.1.1.3. Profitability by Market Segments

            9.1.1.4. Sales Footprint

                9.1.1.4.1. Marketing Strategy

        9.1.2. Technomark Engineers India Pvt. Ltd

            9.1.2.1. Overview

            9.1.2.2. Product Portfolio

            9.1.2.3. Profitability by Market Segments

            9.1.2.4. Sales Footprint

                9.1.2.4.1. Marketing Strategy

        9.1.3. Voltech Group

            9.1.3.1. Overview

            9.1.3.2. Product Portfolio

            9.1.3.3. Profitability by Market Segments

            9.1.3.4. Sales Footprint

                9.1.3.4.1. Marketing Strategy

        9.1.4. Inser Hitech Engineers Pvt. Ltd

            9.1.4.1. Overview

            9.1.4.2. Product Portfolio

            9.1.4.3. Profitability by Market Segments

            9.1.4.4. Sales Footprint

                9.1.4.4.1. Marketing Strategy

        9.1.5. Powertest Asia Pvt. Ltd

            9.1.5.1. Overview

            9.1.5.2. Product Portfolio

            9.1.5.3. Profitability by Market Segments

            9.1.5.4. Sales Footprint

                9.1.5.4.1. Marketing Strategy

        9.1.6. Rulka Electricals Pvt. Ltd

            9.1.6.1. Overview

            9.1.6.2. Product Portfolio

            9.1.6.3. Profitability by Market Segments

            9.1.6.4. Sales Footprint

                9.1.6.4.1. Marketing Strategy

        9.1.7. Ultra Electric Company India Pvt. Ltd

            9.1.7.1. Overview

            9.1.7.2. Product Portfolio

            9.1.7.3. Profitability by Market Segments

            9.1.7.4. Sales Footprint

                9.1.7.4.1. Marketing Strategy

        9.1.8. JBS Enterprises Pvt. Ltd.

            9.1.8.1. Overview

            9.1.8.2. Product Portfolio

            9.1.8.3. Profitability by Market Segments

            9.1.8.4. Sales Footprint

                9.1.8.4.1. Marketing Strategy

        9.1.9. Laxmi Associates

            9.1.9.1. Overview

            9.1.9.2. Product Portfolio

            9.1.9.3. Profitability by Market Segments

            9.1.9.4. Sales Footprint

                9.1.9.4.1. Marketing Strategy

        9.1.10. Power Products & Solutions

            9.1.10.1. Overview

            9.1.10.2. Product Portfolio

            9.1.10.3. Profitability by Market Segments

            9.1.10.4. Sales Footprint

                9.1.10.4.1. Marketing Strategy

10. Assumptions & Acronyms Used

11. Research Methodology

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List of Tables

Table 1: India Market Value (US$ Mn) Forecast by Country, 2017-2032

Table 2: India Market Value (US$ Mn) Forecast by Service Type, 2017-2032

Table 3: India Market Value (US$ Mn) Forecast by End User, 2017-2032

Nikhil Kaitwade
Principal Consultant
LinkedIn
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List of Charts

Figure 1: India Market Value (US$ Mn) by Service Type, 2022-2032

Figure 2: India Market Value (US$ Mn) by End User, 2022-2032

Figure 3: India Market Value (US$ Mn) by Country, 2022-2032

Figure 4: India Market Value (US$ Mn) Analysis by Country, 2017-2032

Figure 5: India Market Value Share (%) and BPS Analysis by Country, 2022-2032

Figure 6: India Market Y-o-Y Growth (%) Projections by Country, 2022-2032

Figure 7: India Market Value (US$ Mn) Analysis by Service Type, 2017-2032

Figure 8: India Market Value Share (%) and BPS Analysis by Service Type, 2022-2032

Figure 9: India Market Y-o-Y Growth (%) Projections by Service Type, 2022-2032

Figure 10: India Market Value (US$ Mn) Analysis by End User, 2017-2032

Figure 11: India Market Value Share (%) and BPS Analysis by End User, 2022-2032

Figure 12: India Market Y-o-Y Growth (%) Projections by End User, 2022-2032

Figure 13: India Market Attractiveness by Service Type, 2022-2032

Figure 14: India Market Attractiveness by End User, 2022-2032

Figure 15: India Market Attractiveness by Country, 2022-2032

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