by India electrical testing services ensure safety, performance, and reliability of electrical infrastructure including power transmission and distribution systems, generating stations, substations, and industrial and building wiring. The services involve inspection, testing, and certification of electrical equipment as per relevant standards to detect defects at an early stage and prevent accidents.
The global India Electrical Testing Services Market is estimated to be valued at US$ 340.9 Mn in 2023 and is expected to exhibit a CAGR of 5.8% over the forecast period 2023 to 2030, as highlighted in a new report published by Coherent Market Insights.
Market key trends
The rising demand for safety in India’s electrical infrastructure is a major factor propelling the growth of the electrical testing services market in the country. With growing complexities in electrical systems and the increasing risk of accidents, testing electrical equipment thoroughly and regularly has become essential. It helps in maintaining the reliability of supply and preventing financial losses, injuries, and human lives. The Indian government has also implemented stringent regulations regarding mandatory testing and certification of electrical infrastructure, contributing further to the increasing adoption of electrical testing services across industries.
SWOT Analysis
Strength: The India Electrical Testing Services Market has a large pool of skilled professionals and technicians. Electrical infrastructure in the country is growing rapidly requiring extensive testing.
Weakness: Lack of standardized testing procedures and regulations. Absence of advanced electrical testing equipment in some areas leading to delays.
Opportunity: Rapid urbanization and industrialization driving the need for frequent electrical testing. Government focus on the renewable energy sector will spur related testing demands.
Threats: Infrastructure project delays can affect timely utilization of testing services. Competition from global testing companies and low-cost alternative testing methods.
Key Takeaways
The India Electrical Testing Services Market Demand is expected to witness high growth on account of rapid infrastructural expansion plans across sectors like power transmission and distribution, railways, metro projects etc. The market size is projected to grow from US$ 340.9 Mn in 2023 to over US$ 500 Mn by 2030, registering a CAGR of 5.8% during the forecast period.
Regional analysis: The western and southern regions of India dominate the market currently due to concentration of heavy industries and metro projects in cities like Mumbai, Chennai, Bengaluru etc. However, northern and eastern regions are expected to exhibit higher growth on the back of government initiatives to boost industrial corridor development and power infrastructure in states like Uttar Pradesh, Bihar and Odisha.
Key players: 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. The market remains fairly fragmented with these major players accounting for around 35-40% of the overall market share.
*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it
