Global Electrical Testing Services Market Revenue to Reach USD 18,234.2 Million Mark by 2035, Surging at 7.4% CAGR | FMI Analysis

The global electrical testing services market is experiencing significant growth, fueled by rising demand in key sectors. According to industry forecasts, the market is projected to surpass USD 18,234.2 million by 2035, reflecting a robust Compound Annual Growth Rate (CAGR) of 7.4% from 2025.

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Several key factors are propelling the expansion of the electrical testing services market. One significant driver is the increasing adoption of renewable energy sources like wind, solar, and hydro. These technologies require specialized electrical equipment testing to ensure optimal performance and safety.

The surge in demand for green energy or renewable energy sources like wind, solar, and hydro is another factor supporting the market's expansion. Electrical testing services will experience a significant increase in demand in the near future along with the rise in demand for green energy.

The market for electrical testing services is being advanced by the electrification efforts of emerging economies. Aiming to provide dependable and affordable electricity to various locations around the world, the countries' electricity infrastructure is developing at a rapid rate. This necessitates the installation of transformers and other power transmission equipment, which will directly affect the market for electrical testing services.

With greater scope for development, MEA stands out to be the fastest growing region in the global electrical testing services market. Growing industrialization and urbanization will support the growth of electrical testing services in the global market over the forecast period. Thus, emerging regions that are still going under the installation processes provide a better scope for electrical testing services market.

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Attributing to this, Africa provides immense opportunities for service providers to augment their business capabilities in the region. India stands out in terms of growth in electrification rate across the country. According to IEA, half a billion people have gained electricity since 2000. In India, the electrification rate is nearly about 82% and with ongoing government initiatives, India will achieve universal access to electricity by 2020s. This is expected to open up new horizons for the augmentation of the electrical testing market in India.

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.

Key Players:

Schneider Electric
Siemens AG
Eaton Corporation plc
General Electric Company
ABB Inc
Power Products & Solutions
American Electrical Testing
Haugland Group LLC
Dekra
TCS Electrical Co.
Phase One Electric
Intran
GEM Electrical Services

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Key Segments Covered:

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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