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