India Electrical Testing Services Market: Projected Expansion to Reach US$ 308.4 million by 2033, With a 4.4% CAGR | FMI

The burgeoning renewable energy sector in India presents lucrative opportunities for electrical testing services, driving growth and profitability.

NEWARK, DELAWARE, UNITED STATES OF AMERICA, November 15, 2023 /EINPresswire.com/ -- The India electrical testing services market is forecast to experience a growth of 4.4% over the estimated period, as per FMI's analysis. The industry's size is predicted to reach a market value of US$ 200.5 million in 2023. And the India Electrical Testing Services Market to Touch US$ 308.4 million by 2033

Demand for electrical testing services is projected to accelerate on the back of surging infrastructural investments and an expanding need for energy-saving solutions. A couple of factors, including intensifying focus on electrical safety and surging demand for top-notch, reliant electrical systems, are also compelling growth in the Indian market.

Electrical testing services help ensure electrical systems and installations' effectiveness, reliance, and security. For this purpose, the Indian government has developed several regulations and initiatives. For example, the Bureau of Indian Standards has established certain electrical appliances and equipment standards. Moreover, the Central Electricity Authority (CEA) rolls out instructions for safe electrical installations.

Air conditioners, lighting products, and refrigerators must undergo the efficiency labeling program by the Bureau of Energy Efficiency (BEE). Importers and manufacturers of these products are required to gain necessary certifications to warrant that their products comply with the energy efficiency requirements of the government.

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India is a fast-growing economy with large infrastructure development projects underway. In all, the infrastructure projects are expected to encompass multiple areas like metro rail systems, airports, smart cities, residential complexes, and industrial parks. Amid these infrastructural growth areas, there exists a wide scope for the role of electrical testing services.

These services can provide comprehensive solutions, like inspection, testing, and certification, to ensure reliability, safety, and compliance with regulations of the electrical systems used in these projects. By employing these services, such aspiring infrastructure projects can warrant maximum compliance and functioning of these electrical systems, thus ensuring the longevity of these projects.

Due to the explosive growth of the renewable energy industry in India, with a significant emphasis on wind and solar power, the electrical testing services are expected to be positively impacted. Electrical testing services can be instrumental in offering necessary certification and testing solutions for different aspects of renewable energy installations.

Top Highlights from the FMI’s Analysis of the India Electrical Testing Services Market

Based on service, the battery testing segment is projected to register a market share of 27.7% in 2023.

Based on end use, the power generation stations segment is anticipated to record a value share of 18.9% in 2023.

"India Electrical Testing Services is a leading provider of comprehensive electrical testing solutions, catering to the diverse needs of industries across the nation. With a team of highly skilled professionals and state-of-the-art testing equipment, they ensure the reliability and safety of electrical systems, adhering to the highest industry standards. Their commitment to excellence makes them a trusted partner for businesses seeking top-notch electrical testing services in India." says FMI’s analyst.- opines Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).

Top 10 Key Players in the India Electrical Testing Services Industry

Fibrestar, Inc.
CP Kelco USA, Inc.
Ceamsa
Cargill, Incorporated
DuPont de Nemours Inc.
Lucid Colloids Ltd.
Silvateam S.p.a.
Yantai Andre Pectin Co. Ltd.
Herbstreith & Fox Group
Herbafood Ingredients GmbH

News Feature Section: Ongoing Developments in the Market

Voltech Group officially disclosed the inauguration of a testing facility in Chennai, India, in March 2020. This unit is designed to serve the testing requirements of an exhaustive range of electrical products, such as transformers, motors, and switchgear. Voltech Group intends to improve and enlarge its testing capabilities in India. This expansion also helped the company to provide comprehensive testing services for a broad spectrum of electrical products.

Ultra Electric Company India Pvt. Ltd. gained a tremendous milestone by attaining the certification of ‘ISO 17025:2017’ for its electrical testing laboratory in September 2020. The company has been certified by the National Accreditation Board for Testing and Calibration Laboratories, affirming the company’s adherence to international standards of quality.

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India Electrical Testing Services Market by Category

By Service Type:

Transformer Testing
Circuit Breaker Testing
Protection Testing
Battery Testing

By End User:

Power Generation Stations
Transmission and Distribution Stations
Steel Plants
Major Refineries
Railways

By Region:

North America
Latin America
Asia Pacific
Europe
The Middle East & Africa (MEA)

Author:

Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.

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About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR certified, recipient of the Stevie Award, and a member of the Greater New York Chamber of Commerce) offers profound insights into the driving factors that are boosting demand in the market. FMI stands as the leading global provider of market intelligence, advisory services, consulting, and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial, and Chemicals markets. With a vast team of over 5000 analysts worldwide, FMI provides global, regional, and local expertise on diverse domains and industry trends across more than 110 countries.

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