Electrical Testing Services Market Competitive Growth Strategies Based on Type, Applications, End User and Region

According to Future Market Insights (FMI), the global electrical testing services market witnessed year-on-year (YoY) growth of 6.3% in 2021. It is projected to grow at a CAGR of 7.1% between 2021 and 2031, reaching US$ 13.4 Bn by the end of the assessment period.

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As of 2020, the market held nearly 15 to 18% of overall testing, inspection and certification market. During the same year, transformer, circuit breaker and motor / generator testing services accounted between 50 and 55% of the overall sales in the electrical testing services market.

Competitive Landscape
Companies operating in global electrical testing service market are aiming at expanding their service range for precise end use. To achieve this, they are investing increasingly in R&D activities.
Electrical testing service providers are targeting end users by providing AMC for good consumer relationships. Companies are focusing on strategic collaborations and partnerships with electrical and electronic device manufacturers to expand their service and testing network.

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By Segmentation:
By End Use:
• Power Generation Stations
• Transmission and Distribution Stations
• Steel Plants
• Major Refineries
• Railways
• Other Industrial (Laboratory, etc.)
• Data Centers
• Healthcare and Hospitality
• Commercial Establishments
By Service Type:
• Transformer Testing
• Circuit Breaker Testing
• Protection Testing
• Battery Testing
• Rotating Equipment Vibration Testing
• Motors/Generator Testing
• Thermographic Testing
By Region:
• North America
• Latin America
• Europe
• East Asia
• South Asia and Pacific
• Middle East and Africa

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Demand for services such as transformer testing, circuit breaker testing, and battery testing is on the rise, which is a key factor enabling growth in the market. Testing an electrical equipment is necessary as it is associated with other works which cab affect the performance of various machines and other related things.

Personal safety is the key priority for any customer or organization when they are using any kind of electrical and electronic device. The risk of encountering failure and unprecedented accidents is high if maintenance and testing is neglected.

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Future Market Insights (FMI) is a leading market intelligence and consulting firm. We deliver syndicated research reports, custom research reports and consulting services which are personalized in nature. FMI delivers a complete packaged solution, which combines current market intelligence, statistical anecdotes, technology inputs, valuable growth insights and an aerial view of the competitive framework and future market trends.

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