India Electrical Testing Services Market

India Electrical Testing Services Market

Electrical Testing Services Market: Protection Testing Segment to Grow at a Significant CAGR from 2016 to 2026: India Industry Analysis and Opportunity Assessment, 2016-2026

  • XPLREP1598

  • December, 2016

  • 91 Pages

  • Industrial Automation

The India electrical testing services market is anticipated to expand at a moderate CAGR of 4.4% through 2026. Electrical testing services enable monitoring, scrutiny, and inspection of electrical appliances and equipment by assessing factors such as efficiency, operational performance, and longevity. The testing services are available for a wide variety of equipment ranging from heavy transformers to small devices, such as batteries, rectifiers, electric cables, and circuit breaking among others.

In order to ensure a safe working environment and to scale up the overall efficiency of the workplace, industries are increasingly adopting electrical testing services. Moreover, the electrification of railway lines and enhancements of transmission and distribution networks in the recent past are playing a vital role in the growth of the electrical testing services market.

Booming Steel Industry and Electrification of Railway Lines Bestow Remunerative Opportunities

According to the World Steel Association, India is the world's second-largest steel producer with the annual production rate surging past 111 million tons in 2019. The production of steel is highly reliant on electric arc reactors that consume electricity to operate. The continually increasing steel production, in turn, is increasing the dead for electric arc reactors and other electric equipment, which need to be tested periodically. On this premise, the demand for electric testing services is beholding a remarkable uptick, and is driving the electrical testing services market on a positive growth trajectory.

Furthermore, India is also home to one of the largest railway networks in the world, which is channeling a substantial portion of revenue to the electrical testing services market. Recently, the railway department of India announced the complete electrification of railway wines, which would ensure that 100% of electric lines would utilize electricity as the primary source of power.

Currently, nearly 40% of the overall number of railway lines run on electricity, and the conversion of remaining electric lines is acting as a remunerative opportunity for electrical testing services market. The usage for electric equipment in the conversion process and the subsequent need for their testing will channel a significant amount of revenue to the electrical testing services in the years to come.

Moreover, transmission and distribution of electricity have been expanded to a remarkable portion of rural India in the recent past. Despite that, a large number of rural areas still don't have electric supply. As the government focuses on increasing power generation capacity to supply electricity to rural areas, the move is anticipated to propel the demand for electrical testing services.

Transformer Testing Remains the Most Lucrative Segment Backed by High Number of Transformers

The market is segmented on the basis of service of equipment such as transformers, circuit breakers, and batteries, among others, with transformer testing anticipated to remain the most sought-out segment through the forecast period. Transformers are vital in the process of power distribution since they maintain the optimal levels of voltage between two terminals, and ensure the safe operation of the entire network.

Hence, it is critical to periodically test the robustness of transformers. On the back of the aforementioned factor, transformer testing holds nearly 2/5th of the overall market share, with circuit breaker testing being the second most lucrative service type. On the other hand, protection testing, although smaller in value, is forecasted to register tremendous growth and procure a respectable share in the overall market value by the end of the forecast period.

Competitive Landscape of India Electrical Testing Services

The competitive landscape of the India electrical testing services market is highly fragmented with the continual emergence of new players. Some of the leading market player studied in the research include 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., among others.

Electrical testing services is a type of examination that involves a thorough inspection, scrutiny and diagnosis of important heavy duty electrical equipment for its working performance and longevity. Electrical equipment are not limited to transformers, rectifiers, circuit breaking, electrical cables, transmission lines, batteries, etc.

Electrical testing services are essential in order to ensure the operating standards of a plant which uses electricity. These electrical testing services are either outsourced or done in-house. The frequency of these electrical testing and inspection majorly depends on nature of workplace and the risk associated with electrical equipment.  They are comprehensively tested in order to ensure efficiency and safe working. Improvements in Transmission and Distribution network and growing electrification of railway lines are some of the main factors inducing the growth of the electrical testing services market in India.

The market is anticipated to ascend at a sound CAGR of 4.4% in terms of revenue over the forecast period of 2016 to 2026 chiefly influenced by the growth of the end users.

Growing electrification of railway lines is one of the main factors for the growth of the electrical testing services market in India

India is the third largest producer of steel in the world on the basis of volume and the only country to witness a positive growth in 2015 from 2014. As steel is usually produced in Electric Arc Reactors using electricity as the power source, growth in steel production calls for increased use of electrical equipment, which also will positively contribute to the growth of electrical testing services market in India.

From the perspective of community, India is the second highest populated country in the world with an estimated population of 1.33 billion by the end of 2015. Currently, proper distribution of electricity to each household in the country is done at a rapid pace with an estimation that 85% of the villages are already been electrified, and hence widening the transmission and distribution network significantly contribute to the growth of the market in India. Likewise, increased power generation in the power generating plants to accommodate the high demand of electricity will also drive the growth of electrical testing services market.

The railway department of India is moving towards complete conversion of electrical lines ensuring electricity as the main source of power to run the trains. At present, over 40% of the total railway lines of the country have been electrified and is likely to be completely electrified in the forthcoming years paving a way for the electrical testing services market to improve in terms of revenue generation.

The transformer testing segment dominates the India electrical testing services market

The service type segment of the market comprises of transformer testing, circuit breaker testing, protection testing and battery testing. A transformer is an electrical apparatus primarily used for transmission of electric current by electromagnetic induction. The function of the transformer is to vary the voltage between two electric potentials or terminals. The transformer testing segment dominates the Indian market with a market share of more than 40% closely followed by circuit breaker testing, which holds a market share of more than 30% in India electrical testing services market. In contrast, protection testing in the service type segment is likely to grow the fastest in the market with a CAGR of 5.1% owing to higher preference of the end users to frequently test the protective relays.

Key market players operating in the India electrical testing service market

Electrical Testing Service providers 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 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., among others.

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Electrical Testing Services Market: Protection Testing Segment to Grow at a Significant CAGR from 2016 to 2026: India Industry Analysis and Opportunity Assessment, 2016-2026
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India Electrical Testing Services Market

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