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The North America electrical testing services market reached a value of around USD 2.50 billion in 2023. During the forecast period between 2024 and 2032, the market is expected to grow at a CAGR of 6.5% to reach around USD 4.41 billion by 2032.
North America Electrical Testing Services Market Report Summary | Description | Value |
Base Year | USD Billion | 2023 |
Historical Period | USD Billion | 2018-2023 |
Forecast Period | USD Billion | 2024-2032 |
Market Size 2023 | USD Billion | 2.50 |
Market Size 2032 | USD Billion | 4.41 |
CAGR 2018-2023 | Percentage | XX% |
CAGR 2024-2032 | Percentage | 6.5% |
CAGR 2024-2032 - Market by Region | United States | 7.2% |
CAGR 2024-2032 - Market by Region | Canada | 5.9% |
CAGR 2024-2032 - Market by Service Type | Transformer Testing | 7.2% |
CAGR 2024-2032 - Market by End-User | Utilities | 7.3% |
Market Share by Country | United States | XX% |
Electrical products and systems have become more complex and advanced, which creates a necessity for electrical testing services to ensure their safety, reliability, and compliance with regulations. For examples, the growing sales or adoption of electric vehicles (EVs) and technologies made via renewable energy sources are driving the growth of the North electrical testing services market. As per industry reports, in 2023, 1.4 million units of electric cars were registered and sold in United States and these sales are projected to grow by 20% in 2024 to reach around 1.7 million units.
Moreover, stringent regulations and safety standards set by National Electrical Code (NEC) in the US have mandated frequent electrical testing for preventing accidents and ensuring proper functioning of electrical systems. This trend in the North electrical testing services market is particularly useful for the power generation sector, where various electrical machines are used. Additionally, there is an increasing focus on predictive maintenance to prevent equipment failures and reduce downtime. In these cases, electrical testing services play an important role as they identify issues before they escalate, leading to a heightened demand from various industries.
CAGR 2024-2032 - Market by | Service Type |
Transformer Testing | 7.2% |
Circuit Breaker Testing | 6.9% |
Protection Testing | 6.2% |
Battery Testing | 5.9% |
CAGR 2024-2032 - Market by | End-User |
Utilities | 7.3% |
Industrial | 7.0% |
Commercial | 6.6% |
Residential | 6.2% |
Others | 5.9% |
The United States leads with a CAGR of 7.2% from 2024 to 2032. This robust growth is driven by the increasing demand for reliable electrical infrastructure, stringent regulatory standards, and the need for regular maintenance and safety checks across various industries, including manufacturing, energy, and construction. The country's large industrial base and ongoing investments in infrastructure modernisation further bolster North America electrical testing services market value. Canada, following with a CAGR of 5.9%, benefits from similar drivers, including the emphasis on energy efficiency, safety compliance, and the expansion of renewable energy projects. The growth in Canada's market is also supported by government initiatives and policies aimed at improving electrical infrastructure and ensuring the reliability of power systems.
CAGR 2024-2032 - Market by | Country |
United States | 7.2% |
Canada | 5.9% |
Expert Market Research's industry report provides a comprehensive quantitative analysis of various market segments, historical and current market trends, and forecasts the dynamics of the North America electrical testing services market spanning from 2018 to 2032.
The research report delivers up-to-date insights into the market drivers, challenges, and opportunities shaping the North America electrical testing services market.
Stakeholders can leverage Porter's five forces analysis to assess the impact of new entrants, competitive rivalry, supplier power, buyer power, and the threat of substitution. This analysis aids in evaluating the competitiveness and attractiveness of the North America electrical testing services market.
The competitive landscape section enables stakeholders to gain a deep understanding of their competitive environment. It offers insights into the current market positions of key players, their strategies, and their market shares.
Additionally, the report highlights emerging trends, regulatory influences, and technological advancements that are pivotal for stakeholders navigating the North America electrical testing services market landscape.
REPORT FEATURES | DETAILS |
Base Year | 2023 |
Historical Period | 2018-2023 |
Forecast Period | 2024-2032 |
Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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Breakup by Service Type |
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Breakup by End-User |
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Breakup by Region |
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Market Dynamics |
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Competitive Landscape |
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Companies Covered |
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 North America Electrical Testing Services Market Analysis
8.1 Key Industry Highlights
8.2 North America Electrical Testing Services Historical Market (2018-2023)
8.3 North America Electrical Testing Services Market Forecast (2024-2032)
9 North America Electrical Testing Services Market by Service Type
9.1 Transformer Testing
9.1.1 Historical Trend (2018-2023)
9.1.2 Forecast Trend (2024-2032)
9.2 Circuit Breaker Testing
9.2.1 Historical Trend (2018-2023)
9.2.2 Forecast Trend (2024-2032)
9.3 Protection Testing
9.3.1 Historical Trend (2018-2023)
9.3.2 Forecast Trend (2024-2032)
9.4 Battery Testing
9.4.1 Historical Trend (2018-2023)
9.4.2 Forecast Trend (2024-2032)
10 North America Electrical Testing Services Market by End-User
10.1 Utilities
10.1.1 Historical Trend (2018-2023)
10.1.2 Forecast Trend (2024-2032)
10.2 Industrial
10.2.1 Historical Trend (2018-2023)
10.2.2 Forecast Trend (2024-2032)
10.3 Commercial
10.3.1 Historical Trend (2018-2023)
10.3.2 Forecast Trend (2024-2032)
10.4 Residential
10.4.1 Historical Trend (2018-2023)
10.4.2 Forecast Trend (2024-2032)
10.5 Others
11 North America Electrical Testing Services Market by Country
11.1 United States
11.1.1 Historical Trend (2018-2023)
11.1.2 Forecast Trend (2024-2032)
11.2 Canada
11.2.1 Historical Trend (2018-2023)
11.2.2 Forecast Trend (2024-2032)
12 Market Dynamics
12.1 SWOT Analysis
12.1.1 Strengths
12.1.2 Weaknesses
12.1.3 Opportunities
12.1.4 Threats
12.2 Porter’s Five Forces Analysis
12.2.1 Supplier’s Power
12.2.2 Buyer’s Power
12.2.3 Threat of New Entrants
12.2.4 Degree of Rivalry
12.2.5 Threat of Substitutes
12.3 Key Indicators for Demand
12.4 Key Indicators for Price
13 Competitive Landscape
13.1 Market Structure
13.2 Company Profiles
13.2.1 Schneider Electric
13.2.1.1 Company Overview
13.2.1.2 Product Portfolio
13.2.1.3 Demographic Reach and Achievements
13.2.1.4 Certifications
13.2.2 Eaton Corporation
13.2.2.1 Company Overview
13.2.2.2 Product Portfolio
13.2.2.3 Demographic Reach and Achievements
13.2.2.4 Certifications
13.2.3 Siemens AG
13.2.3.1 Company Overview
13.2.3.2 Product Portfolio
13.2.3.3 Demographic Reach and Achievements
13.2.3.4 Certifications
13.2.4 ABB Ltd.
13.2.4.1 Company Overview
13.2.4.2 Product Portfolio
13.2.4.3 Demographic Reach and Achievements
13.2.4.4 Certifications
13.2.5 Doble Engineering Company
13.2.5.1 Company Overview
13.2.5.2 Product Portfolio
13.2.5.3 Demographic Reach and Achievements
13.2.5.4 Certifications
13.2.6 Others
14 Key Trends and Developments in the Market
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