by Electrical testing services ensure safety and functionality of electrical infrastructure through inspection and certification. Growing number of infrastructure projects such as power generation plants, transmission and distribution networks have increased the demand for electrical testing services. These services evaluate electrical equipment and components for parameters like insulation resistance, earth resistance, loop impedance etc. to check for defects and compliance with standards. With government making it mandatory to have electrical equipment tested and certified periodically, the need for these services have grown tremendously. The global electrical equipment industry was valued at over US$ 1 trillion in 2023 and electrical testing plays a vital role in maintaining the reliability of these assets.
The global India Electrical Testing Services Market is estimated to be valued at US$ 1200 million in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
Market key trends:
One of the major trends in the India electrical testing services market is the introduction of advanced testing technologies. Traditionally, tests were carried out manually which was time consuming and labor intensive. However, technologies like partial discharge testing, thermography and online condition monitoring have automated the process, making it faster and more accurate. These also detect faults that are not possible through normal tests. Furthermore, introduction of internet of things (IoT) enables remote monitoring of assets, reducing downtime and costs. The India government’s initiatives to modernize infrastructure and expand electricity access to rural areas has propelled market growth. Under programs like Ujjwal Bharat Ujjwal Bharat and Deen Dayal Upadhyaya Gram Jyoti Yojana, huge investments are being made in transmission and distribution which will drive demand for testing. Furthermore, new safety guidelines for transportation, oil & gas sectors are compelling users to have systems certified at regular intervals. This has opened new revenue streams for testing providers.
Porter’s Analysis
Threat of new entrants: The threat of new entrants in the India electrical testing services market is moderate. Starting an electrical testing business requires huge capital investment and strict compliances with standards and regulations which protects the existing players from new entrants.
Bargaining power of buyers: The bargaining power of buyers in the India electrical testing services market is high due to presence of many fragmented players. Buyers can negotiate on price and demand value added services from suppliers.
Bargaining power of suppliers: Suppliers have low bargaining power due to presence of many players operating in India electrical testing services market. Switching costs are also low for suppliers.
Threat of new substitutes: Threat of substitutes is low as there are limited alternative testing methods available for electrical equipment. Electrical testing helps ensure safety, performance and compliance which cannot be substituted.
Competitive rivalry: The India electrical testing services market features high competition due to presence of numerous regional and national players. Players compete based on service quality, compliance, health & safety, turnaround time and price.
Key Takeaways
The Global India Electrical Testing Services Market Demand is expected to witness high growth. The global India Electrical Testing Services Market is estimated to be valued at US$ 1200 million in 2024 and is expected to exhibit a CAGR of 10% over the forecast period 2024 to 2031.
The India electrical testing services market is dominated by regions like Maharashtra, Tamil Nadu, Gujarat, Uttar Pradesh and Delhi NCR owing to presence of many manufacturing facilities in these regions. The southern region is the fastest growing market mainly due to rising investments in infrastructure, power generation and growth of the electronics and automotive industries.
Key players
Key players operating in the India electrical testing services market are Bureau Veritas SA, Inel Power System Engineers Pvt. Ltd., Technomark Engineers India Pvt. Ltd., Voltech Group, Powertest Asia Pvt. Ltd., Rulka Electricals Pvt. Ltd., Ultra Electric Company India Pvt. Ltd.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
