The “Global India Electrical Testing Services Market, by Testing Services (Transformer Testing, Circuit Breaker Testing, Protection Testing, and Battery Testing), by End-user (Power Generation Stations, Transmission & Distribution Stations, Steel Plants, Major Refineries and Railways), - India Forecast to 2027”, is expected to be valued at US$ 241.8 million by 2027, witnessing a CAGR of 4.4% during the forecast period (2019-2027), as highlighted in a report published by . Market Overview A timely testing of an electrical equipment is necessary for its smooth and damage-free functioning. It is especially important in manufacturing plants where heavy equipment are used. These equipment are required to comply with standard regulations, in order to maintain the working environment safe and feasible for workers. While some companies have in-house testing department, most of the companies outsource this process where skilled technicians inspect all the equipment at work. Various tests are performed including transformer testing, circuit breaker testing, battery testing, protection testing, etc. Furthermore, the frequency of inspection and testing depends upon the nature of workplace, and concerning risk with electrical equipment. Such testing services are availed by steel plants, major refineries, and power generation plants. The Indian Electrical Testing Service market was valued at US$ 162.0 Mn in 2018 and is expected to grow at a CAGR of 4.4% between 2019 and 2027. Market Driver Growing focus safety of electrical equipment is expected to drive growth of the India electrical testing services market during the forecast period Electrical equipment can injury fatally, if they are not unchecked. Such equipment can lead to greater risk possibility of short circuiting, current leakage, leakage of lubricants, major faults in wiring, and equipment par corrosion. For instance, according to Fire and Security Association of India (FSAI) statistics, over 55% of personnel deaths in the industries in India are caused by faulty electrical equipment including rectifiers, transformers, etc. Such faulty equipment are major threat to surroundings and individuals working on it, which could lead to generation and propagation fire. Therefore, it has become extremely necessary to test and maintain these equipment regularly, in order to avoid such sudden mishaps. Market Opportunity Improvement in transmission and distribution network in India are expected to offer lucrative growth opportunities for market players The Government of India has undertaken initiatives to upgrade its oldest HVDC network. This, in turn, is expected to pose excellent opportunities market players to seize untapped market across the country. For instance, in April 2019, Siemens AG was selected by Power Grid Corporation of India (POWERGRID) and Central Transmission Utility of India to modernize 30-year old high voltage direct current (HVDC) in Madhya Pradesh, India. Market Restraints High cost associated testing equipment is expected to restrain growth the India electrical testing services market over the forecast period Electrical testing equipment are subjected to extreme conditions such as high voltage, current fluctuation, and more. Therefore, these equipment are manufactured with intricate design, precise calibration, and special materials, in order to endure extreme test conditions during the inspection. Moreover, such equipment require trained individuals to operate efficiently. Thus, lack of trained individuals and expensive testing equipment are expected to restrain the India electrical testing services market growth. Key Takeaways:
Currently, India generates enough power to provide sufficient electricity to every households in the country. Moreover, the Government of India has undertaken proactive initiative to supply electricity in remote places across the country. For instance, in 2015, the Government of India launched ‘Deen Dayal Upadhyaya Gram Jyoti Yojana’ to provide continuous power to rural parts of India. This trend is expected to continue during the forecast period.
The Government of India has undertaken significant efforts to expand and enhance the transmission and distribution network across the country. Moreover, electrification of Indian railway line is a major project, which is growing at a steady pace and currently, over 40% railway network has been electrified. This is process is expected to continue in the near future, thereby boosting the market growth. Competitive Section Key players operating in the India electrical testing services market are INEL Power System Engineers Pvt. Ltd., Technomark Engineers India Pvt. Ltd., Voltech Group, Powertest Asia Pvt. Ltd., Rulka Electricals Pvt. Ltd., Inser Hitech Engineers Pvt. Ltd, Ultra Electric Company India Pvt. Ltd., JBS Enterprises Pvt. Ltd., and Laxmi Associates Segmentation Market Taxonomy: