Coronavirus Turmoil to Take Toll on Near-term Growth of Electrical Testing Servi

Posted by vakhas on December 8th, 2020

Future Market Insights is presenting a report on a 10 year forecast and assessment on India Electrical Testing Services from 2016 to 2026 offering in-depth insights, detailed acumen and latest market trends. The report covers exhaustive qualitative and quantitative elements influencing the growth of the market, probable opportunities for the testing service providers, key trends and improvements shaping the fluctuations and movements of the market with an emphasis on the Indian Market. The market is categorically segmented into two parts namely, Service Type and End User. The End User segment, except for the Railways, is further sub-segmented into Publics Service Undertaking and Private Sector.

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India Electrical Testing Services Market Taxonomy

To understand and assess opportunities in the India Electrical Testing Services market, we have divided the report into two sections based on market segmentations as under

The report is initiated with an overview of the market in India, which is then followed by the definition of the market and its taxonomy. The next section details about the total market size in the base year and subsequent years as per the forecast predicted. The following section provides information about the market value split based on the geographical location of India, i.e. North, South, East and West, value chain and important participants engaged in the market, pricing analysis and cost breakdown of each testing service as well as the prices of the testing equipment. This is followed by an in-depth analysis of the various individual tests performed under each service type, in addition to differentiating them into in-house and outsourced, based on where the testing is usually carried out. Factors affecting the market on a larger scale, important drivers helping the market to move forward, roadblocks associated with it, high potential opportunities and changing trends is detailed in the following section.

The report provides detailed insights into electrical testing services markets’ performance in terms of value. The report also includes Future Market Insights’ analysis on drivers and restraints influencing the market. Key trends in the market are also included in the report to provide clients with specific decision-making insights. The subsequent sections analyse India electrical testing services market on the basis of service type and presents a forecast for the period 2016–2026.

In the final section of the report, we have included India electrical testing services market competitive landscape to provide a dashboard view of key electrical testing service providers functioning in India electrical testing services market. The report also comprises strategic recommendations to capitalise on growth opportunities in the market and provides company profiles of some of the major players in the market. We hope this will enable clients to assess strategies deployed by market leaders and help them develop effective strategies accordingly. 

Our research methodology

For the purpose of forecasting the market up to 10 years from 2016, various macroeconomic factors affecting the market, changing trends and other relevant inputs from both the sources of information. Current size of the market, data from the manufacturers of testing apparatus, information from the end users of electric testing services and other dynamics present in the market is also taken into consideration.

As electrical testing services cannot be accounted in terms of volume, only market value of is taken into consideration taking Indian National Rupees into consideration. Market numbers are deduced through extensive secondary research and the data collected from these sources are validated from experts involved in providing electrical testing services to various customers. The average prices charged by the service providers are taken into account for the triangulation of data to arrive at the market number and compared to the inputs deduced from both primary and secondary sources.

Table Of Content

1. Executive Summary 

2. Market Introduction

    2.1. Market Definition

    2.2. Market Taxonomy

3. India Electrical Testing Services Market Analysis Scenario

    3.1. Market Size (US$ Mn) and Forecast

        3.1.1. Market Size and Y-o-Y Growth

        3.1.2. Absolute $ Opportunity

    3.2. Market Overview

        3.2.1. Region Wise Analysis

        3.2.2. Value Chain

        3.2.3. Profitability Margins and Cost Teardown

    3.3. Testing Service Analysis

        3.3.1. Testing Services Outsourced, In-house and Frequency

        3.3.2. Companies that provide these Services

4. Market Dynamics

    4.1. Macro-economic Factors

    4.2. Drivers

        4.2.1. Supply Side

        4.2.2. Demand Side

    4.3. Restraints

    4.4. Opportunity

    4.5. Forecast Factors – Relevance and Impact

5. India Electrical Testing Services Market Analysis and Forecasts, By Service Type

    5.1. Introduction

    5.2. Basis Point Share (BPS) Analysis By Service Type

    5.3. Y-o-Y Growth Projections By Service Type

    5.4. Market Attractiveness By Service Type

    5.5. Market Value Forecast By Service , 2016–2026

        5.5.1. Transformer Testing

        5.5.2. Circuit Breaker Testing

        5.5.3. Protection Testing

        5.5.4. Battery Testing

    5.6. Prominent Trends

6. India Electrical Testing Services Market Analysis and Forecasts, By End user

    6.1. Introduction

    6.2. Basis Point Share (BPS) Analysis By End user

    6.3. Y-o-Y Growth Projections By End user

    6.4. Market Attractiveness By End User

    6.5. Market Value Forecast By End user, 2016–2026

        6.5.1. Power Generation Stations

            6.5.1.1. PSUs

            6.5.1.2. Private (Organized/ Un-organized)

        6.5.2. Transmission and Distribution Stations

            6.5.2.1. PSUs

            6.5.2.2. Private (Organized/ Un-organized)

        6.5.3. Steel Plants

            6.5.3.1. PSUs

            6.5.3.2. Private (Organized/ Un-organized)

        6.5.4. Major Refineries

            6.5.4.1. PSUs

            6.5.4.2. Private (Organized/ Un-organized)

        6.5.5. Railways

    6.6. Prominent Trends

7. Competition Landscape

    7.1. Competition Dashboard

    7.2. Company Profiles 

        7.2.1. INEL Power System Engineers Pvt. Ltd.

        7.2.2. Technomark Engineers India Pvt. Ltd.

        7.2.3. Voltech Group

        7.2.4. Powertest Asia Pvt. Ltd.

        7.2.5. Rulka Electricals Pvt. Ltd.

        7.2.6. Inser Hitech Engineers Pvt. Ltd.

        7.2.7. Ultra Electric Company India Pvt. Ltd.

        7.2.8. JBS Enterprises Pvt. Ltd.

        7.2.9. Laxmi Associates

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As evident from the ever changing nature of the economy, both in global and national level, the market forecasts are not only presented in terms of CAGR or Compound Annual Growth Rate, but also presented with the incorporation of other important parameters and pointers such as year on year growth to interpret market predictions and also to identify correct market opportunities across India Electrical Testing Services. Analysis of various segments of the market are performed, and values are calculated in terms of Basic Points share or BPS, which gives us information and insights about the performance of individual segments for the present year and the changes in its performance in the final forecasted year.

Likewise, BPS provides an understanding of the varying trends of electrical testing services market across India. Another important parameter that is usually overlooked but critical in decision making as well as providing information about the range and extent of market opportunity is Absolute INR Opportunity (Indian National Rupee) of all the segments of the market. Market Attractiveness is another important parameter incorporated in the report that exhibits growth, performance and market opportunities.

Analyst’s Perspective

There are large number of players in India that are involved in transformer testing services. In India electrical testing services market, the new players are focussing on the circuit breaker testing and protection testing services. The reason behind the shifting preference of the new players towards these testing services is low cost of equipment required in these testing services as compared to transformer testing and the profitability margin of these tests are more than the profitability margin in transformer testing. Moreover, the total tests that are outsourced in circuit breaker testing and protection testing are more as compared to transformer testing.