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Electrical Testing Services Market Worth US$ 7,800 Mn by 2028 - Future Market Insights

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Future Market Insights

15 May, 2018, 14:00 GMT

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VALLEY COTTAGE, New York, May 15, 2018 /PRNewswire/ --

Electrification efforts of emerging economies are providing a progressive platform to electrical testing services market. The developments in electricity infrastructure of the countries is thriving at rapid pace, and the move is intended to provide affordable and uninterrupted electricity to different parts across the globe. This also demands installation of power transmission equipment such as transformers, which will have a direct impact on the demand for electrical testing services market.

     (Logo: https://mma.prnewswire.com/media/677274/Future_Market_Insights_Logo.jpg )

According to a recent market forecast by Future Market Insights, the global electrical testing services market is expected to reach a market value of over US$ 7,800 Mn by the end of 2028, witnessing a robust growth rate of over 6.9% during the forecast period 2018-2028. The growth of market is also reinforced by the outburst in demand for green energy or renewable energy sources such as wind, solar and hydro. With the increase in demand for the green energy, the market will also witness a significant rise in demand for electrical testing services market in the near future.

Request a Sample Report with Table of Contents and Figures: https://www.futuremarketinsights.com/reports/sample/rep-gb-6683

Rapid Urbanization to Help MEA Mark Highest Growth Rate in Coming Years 

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. According to the International Energy Agency (IEA), by the end of 2030, 600 million out of the total 674 million people without the access to electricity live in Sub-Saharan Africa, a majority of them in the rural areas. 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.

Electrical Testing Services Market Segmentation By Service Type - Transformer Testing, Circuit Breaker Testing, Protection Testing, Battery Testing; By End User - Power Generation Stations, Transmission & Distribution Stations, Steel Plants, Major Refineries, Railways: https://www.futuremarketinsights.com/reports/electrical-testing-services-market

Certification by Testing Services Bolsters Market Presence of Companies in the Global Market 

Regular testing of the huge electric equipment becomes necessary as steel plants, and other heavy industrial equipment are particularly large in size and cumbersome to handle with. Replacement of these equipment on the account of failure usually takes months or sometimes years based on the original specifications, whereas regular testing helps avoiding failures. The testing services work in accordance with the testing standards laid down by reputed national and international accreditation bodies. The testing service providers can significantly improve its service quality and leapfrog other players in market recognition if it complies and provide certifications of InterNational Electrical Testing Association (NETA), Bureau of Indian Standards (BIS), and Electrical Research & Development Association (ERDA).

Our advisory services are aimed at helping you with specific, customised insights that are relevant to your specific challenges. Let us know about your challenges and our trusted advisors will connect with you: https://www.futuremarketinsights.com/askus/rep-gb-6683

Some recent trends such as growth of transmission and distribution network are also capable of bringing in revolutionary growth of global electric testing services market. The coming years will give a clear picture of many such influencers of electrification and electrical testing services market.

More from FMI's Industrial Automation & Equipment Intelligence:  

  • Heat Recovery Steam Generator Market segmentation by Design- Modular Construction, C-Section Construction, Bundle Construction, Fully Assembled; Configuration- Horizontal Drum Unit, Vertical Drum Unit, Horizontal-Once Through Unit; Application- Co-generation (Process Heating), Combined Cycle, Combined Heat & Power (CHP); Gas Turbine Output Power- 0-60 MW, 60-100 MW, 100 MW & Above: https://www.futuremarketinsights.com/reports/heat-recovery-steam-generator-market
  • Glass Tempering System Market Segmentation By Tempering Technology- Controlled Heating and Quenching Equipment: Standard Configuration, Advanced Configuration, Chemical Treatment; Application- Flat: Continuous, Oscillating, Bent, Combined Flat and Bent, End Use- Automotive Windows, Architectural: Windows and Doors, Mirror and Partitions, Furniture, Electronics: Smartphone, Appliances, Solar Applications, Others: https://www.futuremarketinsights.com/reports/glass-tempering-systems-market
  • Odour Control System Market Segmentation System Type- Physical Odour Control: Adsorption System, Ozone Generators, Chemical Odour Control: Chemical Scrubbers, Thermal Oxidisers, Biological Odour Control: Bio filters /Bio trickling Filters, Bio Scrubbers; Application- Waste Treatment Facilities, Food & Beverage, Pulp & Paper, Chemical & Petrochemical, Other Industries: https://www.futuremarketinsights.com/reports/odour-control-system-market

About Us 

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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