The North American electrical testing services market is projected to reach $3.28Bn by 2031, driven by increased power generation infrastructure and safety concerns.
As per FMI, North America electrical testing services market is estimated to total US$ 1.8 Bn in 2021. Increasing installation of power transmission equipment such as transformers across refineries, manufacturing plants, railways, and others are fueling the demand for electrical testing services.
Historically, demand for electrical testing services in North America grew at 0.9% CAGR between 2016 and 2020. However, with increasing government initiatives to develop power generation infrastructure across the U.S. and Canada, the market is anticipated to top US$ 3.28 Bn by 2031.
Further, increasing concern regarding the workplace safety and rising incidence of electricity leakage, faults in wiring, short-circuiting, leakage of lubricants, and others are propelling the demand in the market. On account of this, sales of electrical testing services in North America are projected to rise at 5.9% CAGR over the forecast period 2021-2031.
Based on service type, the transformer testing and circuit breaker testing segments are anticipated to collectively hold the lion’s share in the market, accounting for nearly 38.3% of sales in 2021. Increasing use of these services to ensure the uniformity of windings in all the connection to avoid short circuits is driving the growth in segments.
Request a report sample to gain comprehensive insights at
https://www.futuremarketinsights.com/reports/sample/rep-gb-14222
Competitive Landscape
As per FMI, leading players offering testing services in North America are estimated to account for approximately 55% to 65% of the market share in 2021.
Key players in North America electrical testing service market are aiming at expanding their service range for as per the end-use applications. Some of the players are focusing on strategic collaborations, merger, agreement, acquisitions, and partnerships with other players to expand their testing network and service. For instance,
Some of the key players operating in the market profiled by FMI are:
We Offer tailor-made Solutions to fit Your Requirements, Request Customization@ https://www.futuremarketinsights.com/customization-available/rep-gb-14222
More Valuable Insights on North America Electrical Testing Services Market
The latest report by FMI provides a detailed analysis of the global North America electrical testing services market, providing credible insights into key factor driving the market through 2021 and beyond. The study also disclosed growth projections on in North America electrical testing services market with detailed segmentation:
By End Use:
By Service Type:
By Country:
Buy this Report@ https://www.futuremarketinsights.com/checkout/14222
Key Questions Covered in the Report
About Future Market Insights (FMI)
Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI’s latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.
Contact:
Future Market Insights,
1602-6 Jumeirah Bay X2 Tower,
Plot No: JLT-PH2-X2A,
Jumeirah Lakes Towers, Dubai,
United Arab Emirates
For Sales Enquiries: sales@futuremarketinsights.com
For Media Enquiries: press@futuremarketinsights.com
Website: https://www.futuremarketinsights.com/
The article discusses the growth of the electrical testing services market in North America, projected to reach $3.28Bn by 2031.
Growth is driven by increased installation of power transmission equipment and government initiatives in power generation infrastructure.
Key players include Schneider Electric, Siemens AG, Eaton Corporation, and RESA Power, among others.
Explore more articles in the Research Reports category
