VALLEY COTTAGE, N.Y. – A new report published by Future Market Insights titled “India Electrical Testing Services Market: North America Industry Analysis and Opportunity Assessment, 2016–2026” presents us detailed insights on the market scenario in India, the electrical testing services market is anticipated to hit a market revenue of INR 1,054.1 crore by 2016 end and it is expected to be worth INR 1,616.0 by the end of 2026.
According to Future Market Insights, factors positively affecting the growth of the market includes frequent testing of electrical equipment to restrict breakdowns, rapid electrification of the railway lines, improving transmission & distribution networks and improving production of steel in the country. These factors are also likely to grow positively in the forecast period. The published report incorporates and highlights the emerging trends shaping the market, opportunities to further improve the market and macroeconomic factors governing the growth and size of the market from a larger perspective.
The Western Region of India hold the largest market share in the India Electrical Testing Services Market albeit by a small margin from the second highest market share holder, the Northern Region.
The market is likely to gain traction in the forecast period owing to rising frequency in the number of times an electrical equipment testing is carried out. Malfunctioning of electrical equipment can pose a life threating danger to the personnel working within the same environment. Hence, periodical testing of electrical equipment should be conducted by the end user in order to ensure its smooth and safe functioning.
Improvement in transmission & distribution network within India is one of the primary drivers associated with the growth of the market. More than 85% of the households in India have been supplied with electricity and this will improve further positively affecting the market growth. In a similar way, growth in transmission & distribution network leads to high demand of electric power ensuring the growth of the electrical testing services market in the power generations stations also.
India is the only country in the world to have witnessed a positive growth in steel production from 2014 to 2015 and the usage of Electric Arc Reactors in the production of steel with the support systems is one of the major factors driving the growth of the market in the forecast period. Electrical equipment has to be periodically tested a number of times within a year to ensure that breakdowns are minimized to zero.
The railway department of India is heading for a 100% conversion of electrical lines ensuring that electricity is the main source of power propelling the trains. Currently, more than 40% of the total railway lines of India have been electrified and it is likely to be entirely electrified in the coming years opening an opportunity for the growth of electrical testing services market in India.
Some of the major participants involved in providing electrical testing services to their clients are Inel 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.
Transformer testing services are provided by almost all the major market participants while protection testing, circuit breaker testing and battery testing is divided among the players with very few players providing testing services for all the equipment.
Long-term Outlook: The India Electrical Testing Services market is anticipated to expand at a CAGR of 4.4% in terms of value for the forecast period of 2016-2026. As a service based industry, prompt availability of the services to the end users and value added diagnosis of the electrical equipment are some of the key strategies employed by the market players to ensure healthy growth of the market.
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