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Electrical Testing Services Market Size, Market Share, Application Analysis, Regional Outlook, Growth Trends, Key Players, Competitive Strategies and Forecasts, 2022 to 2030

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    Report

  • 117 Pages
  • August 2022
  • Region: Global
  • Acute Market Reports
  • ID: 5713422
Description Jump to:

Rising Electrification and Improving Safety Standards are increasing the Demand for Electrical Testing Services Market

Globally, the electrical testing services market is expected to grow with a CAGR of 7.3% during the forecast period from 2022 to 2030 and is expected to reach a market value of around US$ 9.39 Bn in 2030. Electrical testing services are an electrical assessment, which includes inspection, systematic scrutiny, and diagnosis of important heavy-duty electrical devices. These services are an essential process for checking the systems functioning, performance and working longevity. These services enable the manufacturing units to run their process by reducing downtime and work, which results in cost saving and healthy work environment.

Various factors which are increasing the demand for these services include increasing demand for safety in plants and manufacturing units, reduction of downtime and others. As there is development in the industrial sector, the number of cases due to electrocution and related fire has increased. To maintain the systems and avoid any such issues various manufacturing plants, power generation organizations, oil refineries and other industries drive the demand for electrical testing services. However, high initial investment and lack of financial support in small and emerging sectors are expected to hinder the market growth during the forecast period.

Electrical Testing Services with Transmission and Distribution its End-Use Segment Continue Dominating the Market

In 2021, the transmission and distribution segment led the overall electrical testing services market by contributing to over 35% of the total revenue generated globally. The increasing demand for reliable electricity and power among the end users such as manufacturing industries, IT & Telecom hubs, individuals, and others, there is requirement of transmission and distribution of the power from place of generation of the power to the end user, to maintain the functionality of the work electric testing services for these are required the most.

North America Dominates the Market by Region

The global electrical testing services market is led by North America due to presence of various heavy metal industries, electric component manufacturing industry present in the region and is expected to grow with a CAGR of 6.7% during the forecast period. Additionally government investing highly in public transport including railways is some of the factors, which are driving the market in the region. Additionally, there are various power plants that require regular electrical testing and maintenance services that also contributes in the growth of the market.

Some of the prominent players operating in the electrical testing services market includes Voltech Group, ABB Inc., Quanta Services, Inc., RESA Power, LLC, SD Myers LLC, Siemens AG, Vertiv Co., TÜV SÜD Group, Inel Power System Engineers Pvt. Ltd., Applus Services SA, DNV GL SA, Doble Engineering Company, Eaton Corporation plc, General Electric Company, and Hydro Tasmania Group

Historical & Forecast Period

This study report represents analysis of each segment from 2020 to 2030 considering 2021 as the base year. Compounded Annual Growth Rate (CAGR) for each of the respective segments estimated for the forecast period of 2022 to 2030.

The current report comprises of quantitative market estimations for each micro market for every geographical region and qualitative market analysis such as micro and macro environment analysis, market trends, competitive intelligence, segment analysis, porters five force model, top winning strategies, top investment markets, emerging trends and technological analysis, case studies, strategic conclusions and recommendations and other key market insights.

Research Methodology

The complete research study was conducted in three phases, namely: secondary research, primary research, and expert panel review. key data point that enables the estimation of Electrical Testing Services market are as follows:
  • Research and development budgets of manufacturers and government spending
  • Revenues of key companies in the market segment
  • Number of end users and consumption volume, price and value.
  • Geographical revenues generate by countries considered in the report
  • Micro and macro environment factors that are currently influencing the Electrical Testing Services market and their expected impact during the forecast period.
Market forecast was performed through proprietary software that analyzes various qualitative and quantitative factors. Growth rate and CAGR were estimated through intensive secondary and primary research. Data triangulation across various data points provides accuracy across various analyzed market segments in the report. Application of both top down and bottom-up approach for validation of market estimation assures logical, methodical and mathematical consistency of the quantitative data.

Market Segmentation

Service

  • Transformer Testing
  • Circuit Breaker Testing
  • Protection Testing
  • Battery Testing

End-User

  • Power Generation Stations
  • Transmission and Distribution
  • Steel Plants
  • Major Refineries
  • Railways
  • Others

Key questions answered in this report

  • What are the key micro and macro environmental factors that are impacting the growth of Electrical Testing Services market?
  • What are the key investment pockets with respect to product segments and geographies currently and during the forecast period?
  • Estimated forecast and market projections up to 2030.
  • Which segment accounts for the fastest CAGR during the forecast period?
  • Which market segment holds a larger market share and why?
  • Are low and middle-income economies investing in the Electrical Testing Services market?
  • Which is the largest regional market for Electrical Testing Services market?
  • What are the market trends and dynamics in emerging markets such as Asia Pacific, Latin America, and Middle East & Africa?
  • Which are the key trends driving Electrical Testing Services market growth?
  • Who are the key competitors and what are their key strategies to enhance their market presence in the Electrical Testing Services market worldwide?


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Table of Contents

1. Preface
1.1. Report Description
1.1.1. Purpose of the Report
1.1.2. Target Audience
1.1.3. Key Offerings
1.2. Market Segmentation
1.3. Research Methodology
1.3.1. Phase I - Secondary Research
1.3.2. Phase II - Primary Research
1.3.3. Phase III - Expert Panel Review
1.3.4. Assumptions
1.3.5. Approach Adopted

2. Executive Summary
2.1. Market Snapshot: Global Electrical Testing Services Market
2.2. Global Electrical Testing Services Market, By Service, 2021 (US$ Million)
2.3. Global Electrical Testing Services Market, By End-User, 2021 (US$ Million)
2.4. Global Electrical Testing Services Market, By Geography, 2021 (US$ Million)
2.5. Attractive Investment Proposition by Geography, 2021

3. Electrical Testing Services Market: Competitive Analysis
3.1. Market Positioning of Key Electrical Testing Services Market Vendors
3.2. Strategies Adopted by Electrical Testing Services Market Vendors
3.3. Key Industry Strategies
3.4. Tier Analysis 2021 Versus 2030

4. Electrical Testing Services Market: Macro Analysis & Market Dynamics
4.1. Introduction
4.2. Global Electrical Testing Services Market Value, 2020 - 2030, (US$ Million)
4.3. Market Dynamics
4.3.1. Market Drivers
4.3.2. Market Restraints
4.3.3. Key Challenges
4.3.4. Key Opportunities
4.4. Impact Analysis of Drivers and Restraints
4.5. See-Saw Analysis

5. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
5.1. Market Overview
5.2. Growth & Revenue Analysis: 2021 Versus 2030
5.3. Market Segmentation
5.3.1. Transformer Testing
5.3.2. Circuit Breaker Testing
5.3.3. Protection Testing
5.3.4. Battery Testing

6. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
6.1. Market Overview
6.2. Growth & Revenue Analysis: 2021 Versus 2030
6.3. Market Segmentation
6.3.1. Power Generation Stations
6.3.2. Transmission and Distribution
6.3.3. Steel Plants
6.3.4. Major Refineries
6.3.5. Railways
6.3.6. Others

7. North America Electrical Testing Services Market, 2020-2030, USD (Million)
7.1. Market Overview
7.2. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
7.3. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
7.4.Electrical Testing Services Market: By Region, 2020-2030, USD (Million)
7.4.1.North America
7.4.1.1. U.S.
7.4.1.1.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
7.4.1.1.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
7.4.1.2. Canada
7.4.1.2.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
7.4.1.2.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
7.4.1.3. Rest of North America
7.4.1.3.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
7.4.1.3.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)

8. UK and European Union Electrical Testing Services Market, 2020-2030, USD (Million)
8.1. Market Overview
8.2. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
8.3. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
8.4.Electrical Testing Services Market: By Region, 2020-2030, USD (Million)
8.4.1.UK and European Union
8.4.1.1. UK
8.4.1.1.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
8.4.1.1.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
8.4.1.2. Germany
8.4.1.2.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
8.4.1.2.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
8.4.1.3. Spain
8.4.1.3.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
8.4.1.3.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
8.4.1.4. Italy
8.4.1.4.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
8.4.1.4.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
8.4.1.5. France
8.4.1.5.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
8.4.1.5.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
8.4.1.6. Rest of Europe
8.4.1.6.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
8.4.1.6.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)

9. Asia Pacific Electrical Testing Services Market, 2020-2030, USD (Million)
9.1. Market Overview
9.2. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
9.3. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
9.4.Electrical Testing Services Market: By Region, 2020-2030, USD (Million)
9.4.1.Asia Pacific
9.4.1.1. China
9.4.1.1.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
9.4.1.1.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
9.4.1.2. Japan
9.4.1.2.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
9.4.1.2.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
9.4.1.3. India
9.4.1.3.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
9.4.1.3.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
9.4.1.4. Australia
9.4.1.4.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
9.4.1.4.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
9.4.1.5. South Korea
9.4.1.5.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
9.4.1.5.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
9.4.1.6. Rest of Asia Pacific
9.4.1.6.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
9.4.1.6.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)

10. Latin America Electrical Testing Services Market, 2020-2030, USD (Million)
10.1. Market Overview
10.2. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
10.3. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
10.4.Electrical Testing Services Market: By Region, 2020-2030, USD (Million)
10.4.1.Latin America
10.4.1.1. Brazil
10.4.1.1.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
10.4.1.1.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
10.4.1.2. Mexico
10.4.1.2.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
10.4.1.2.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
10.4.1.3. Rest of Latin America
10.4.1.3.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
10.4.1.3.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)

11. Middle East and Africa Electrical Testing Services Market, 2020-2030, USD (Million)
11.1. Market Overview
11.2. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
11.3. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
11.4.Electrical Testing Services Market: By Region, 2020-2030, USD (Million)
11.4.1.Middle East and Africa
11.4.1.1. GCC
11.4.1.1.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
11.4.1.1.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
11.4.1.2. Africa
11.4.1.2.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
11.4.1.2.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)
11.4.1.3. Rest of Middle East and Africa
11.4.1.3.1. Electrical Testing Services Market: By Service, 2020-2030, USD (Million)
11.4.1.3.1. Electrical Testing Services Market: By End-User, 2020-2030, USD (Million)

12. Company Profile
12.1. Voltech Group
12.1.1. Company Overview
12.1.2. Financial Performance
12.1.3. Product Portfolio
12.1.4. Strategic Initiatives
12.2. ABB Inc.
12.2.1. Company Overview
12.2.2. Financial Performance
12.2.3. Product Portfolio
12.2.4. Strategic Initiatives
12.3. Applus Services SA
12.3.1. Company Overview
12.3.2. Financial Performance
12.3.3. Product Portfolio
12.3.4. Strategic Initiatives
12.4. DNV GL SA
12.4.1. Company Overview
12.4.2. Financial Performance
12.4.3. Product Portfolio
12.4.4. Strategic Initiatives
12.5. Doble Engineering Company
12.5.1. Company Overview
12.5.2. Financial Performance
12.5.3. Product Portfolio
12.5.4. Strategic Initiatives
12.6. Eaton Corporation plc
12.6.1. Company Overview
12.6.2. Financial Performance
12.6.3. Product Portfolio
12.6.4. Strategic Initiatives
12.7. General Electric Company
12.7.1. Company Overview
12.7.2. Financial Performance
12.7.3. Product Portfolio
12.7.4. Strategic Initiatives
12.8. Quanta Services, Inc.
12.8.1. Company Overview
12.8.2. Financial Performance
12.8.3. Product Portfolio
12.8.4. Strategic Initiatives
12.9. RESA Power, LLC
12.9.1. Company Overview
12.9.2. Financial Performance
12.9.3. Product Portfolio
12.9.4. Strategic Initiatives
12.10. SD Myers LLC
12.10.1. Company Overview
12.10.2. Financial Performance
12.10.3. Product Portfolio
12.10.4. Strategic Initiatives
12.11. Siemens AG
12.11.1. Company Overview
12.11.2. Financial Performance
12.11.3. Product Portfolio
12.11.4. Strategic Initiatives
12.12. Hydro Tasmania Group
12.12.1. Company Overview
12.12.2. Financial Performance
12.12.3. Product Portfolio
12.12.4. Strategic Initiatives
12.13. Inel Power System Engineers Pvt. Ltd.
12.13.1. Company Overview
12.13.2. Financial Performance
12.13.3. Product Portfolio
12.13.4. Strategic Initiatives
12.14. TÜV SÜD Group
12.14.1. Company Overview
12.14.2. Financial Performance
12.14.3. Product Portfolio
12.14.4. Strategic Initiatives
12.15. Vertiv Co.
12.15.1. Company Overview
12.15.2. Financial Performance
12.15.3. Product Portfolio
12.15.4. Strategic Initiatives

List of Figures
Figure 1 Global Electrical Testing Services Market: Market Coverage
Figure 2 Research Methodology and Data Sources
Figure 3 Market Size Estimation - Top Down & Bottom-Up Approach
Figure 4 Global Electrical Testing Services Market: Quality Assurance
Figure 5 Global Electrical Testing Services Market, By Service, 2021
Figure 6 Global Electrical Testing Services Market, By End-User, 2021
Figure 7 Global Electrical Testing Services Market, By Geography, 2021
Figure 8 Market Geographical Opportunity Matrix - Global Electrical Testing Services Market, 2021
Figure 9 Market Positioning of Key Electrical Testing Services Market Players, 2021
Figure 10 Global Electrical Testing Services Market - Tier Analysis - Percentage of Revenues by Tier Level, 2021 Versus 2030
Figure 11 Global Electrical Testing Services Market, By Service, 2021 Vs 2030, %
Figure 12 Global Electrical Testing Services Market, By End-User, 2021 Vs 2030, %
Figure 13 U.S. Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 14 Canada Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 15 Rest of North America Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 16 UK Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 17 Germany Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 18 Spain Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 19 Italy Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 20 France Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 21 Rest of Europe Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 22 China Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 23 Japan Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 24 India Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 25 Australia Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 26 South Korea Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 27 Rest of Asia Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 28 Brazil Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 29 Mexico Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 30 Rest of Latin America Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 31 GCC Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 32 Africa Electrical Testing Services Market (US$ Million), 2020 - 2030
Figure 33 Rest of Middle East and Africa Electrical Testing Services Market (US$ Million), 2020 - 2030

List of Tables
Table 1 Global Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 2 Global Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 3 North America Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 4 North America Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 5 U.S. Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 6 U.S. Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 7 Canada Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 8 Canada Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 9 Rest of North America Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 10 Rest of North America Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 11 UK and European Union Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 12 UK and European Union Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 13 UK Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 14 UK Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 15 Germany Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 16 Germany Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 17 Spain Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 18 Spain Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 19 Italy Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 20 Italy Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 21 France Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 22 France Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 23 Rest of Europe Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 24 Rest of Europe Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 25 Asia Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 26 Asia Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 27 China Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 28 China Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 29 Japan Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 30 Japan Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 31 India Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 32 India Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 33 Australia Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 34 Australia Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 35 South Korea Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 36 South Korea Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 37 Latin America Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 38 Latin America Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 39 Brazil Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 40 Brazil Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 41 Mexico Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 42 Mexico Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 43 Rest of Latin America Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 44 Rest of Latin America Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 45 Middle East and Africa Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 46 Middle East and Africa Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 47 GCC Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 48 GCC Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 49 Africa Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 50 Africa Electrical Testing Services Market By End-User, 2020-2030, USD (Million)
Table 51 Rest of Middle East and Africa Electrical Testing Services Market By Service, 2020-2030, USD (Million)
Table 52 Rest of Middle East and Africa Electrical Testing Services Market By End-User, 2020-2030, USD (Million)

Companies Mentioned

  • Voltech Group
  • ABB Inc.
  • Quanta Services Inc.
  • RESA Power LLC
  • SD Myers LLC
  • Siemens AG
  • Vertiv Co.
  • TÜV SÜD Group
  • Inel Power System Engineers Pvt. Ltd.
  • Applus Services SA
  • DNV GL SA
  • Doble Engineering Company
  • Eaton Corporation plc
  • General Electric Company
  • Hydro Tasmania Group

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