North America Electrical Testing Services Market Report: By Service Type: Transformer Testing, Circuit Breaker Testing, Protection Testing, Battery Testing; By End-User: Utilities, Industrial, Commercial, Residential, Others; Regional Analysis; Market Dynamics: SWOT Analysis, Porter’s Five Forces Analysis; Competitive Landscape; 2024-2032

North America Electrical Testing Services Market Size

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 Outlook

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.

Need for Electrical Testing Services to Ensure Transformer Efficiency is Propelling North America Electrical Testing Services Market Growth

• Transformer testing leads the market, with a 7.2% CAGR between 2024 and 2032. The necessity to guarantee the dependability and effectiveness of transformers—crucial elements in power distribution and transmission networks—is driving this expansion. 

• As per North electrical testing services industry analysis, circuit breaker testing follows with a CAGR of 6.9%, fueled by the necessity to maintain safety and operational integrity in electrical systems by preventing overloads and faults. 

• Protection testing, with a CAGR of 6.2%, is vital for safeguarding electrical equipment and ensuring system stability and safety. 

• Battery testing, growing at a CAGR of 5.9%, is increasingly important due to the rising adoption of renewable energy sources and the need for reliable energy storage solutions.

Rising Adoption of Advanced Home Automation by Residential Sector is One of The Key North America Electrical Testing Services Market Trends

• From 2024 to 2032, the utilities sector will likely grow at the fastest rate (7.3% CAGR). The imperative need to guarantee a steady supply of electricity, preserve grid stability, and comply with strict regulations is driving this expansion. 

• With a compound annual growth rate (CAGR) of 7.0%, industrial end users come in second, driven by the need for dependable power to enable continuous operations, minimize downtime, and improve safety in processing and manufacturing facilities. 

• The commercial sector, with a CAGR of 6.6%, contributes to North electrical testing services market revenue due to the need for reliable electrical infrastructure in office buildings, retail spaces, and hospitality sectors to ensure operational efficiency and safety. 

• The residential sector, growing at a CAGR of 6.2%, benefits from increasing awareness about electrical safety and the adoption of advanced home automation and energy management systems. 

• The others category, with a CAGR of 5.9%, includes various niche applications that require specialised electrical testing services.

United States Dominate the North America Electrical Testing Services Market Share Due to Country’s Large Industrial Base

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.

Key Questions Answered in the Report:

• How has the North America electrical testing services market performed historically, and what are the growth expectations for the future? 

• What are the primary factors influencing demand and growth in the North America electrical testing services market? 

• What are the key segments within the North America electrical testing services market, and how are they expected to evolve over the forecast period? 

• What are the major challenges and opportunities facing stakeholders in the North America electrical testing services market? 

• Who are the key players in the North America electrical testing services market, and what strategies are they employing to maintain a competitive edge? 

• What are the regulatory and policy factors influencing the North America electrical testing services market globally or regionally? 

• How competitive is the North America electrical testing services market according to Porter's five forces analysis, including factors like bargaining power of buyers and suppliers? 

• What are the current trends shaping the North America electrical testing services market landscape, and how are they expected to evolve in the future? 

• How are technological advancements impacting the North America electrical testing services market, and what role do innovation and R&D play in driving growth? 

• What are the consumer preferences and buying behavior trends influencing the North America electrical testing services market? 

• How sustainable are current growth rates in the North America electrical testing services market, and what factors could potentially disrupt these trends? 

• What are the regional dynamics within the North America electrical testing services market, and how do they contribute to overall market growth? 

• What are the economic factors influencing the North America electrical testing services market, such as GDP growth, inflation rates, and currency fluctuations? 

• How are demographic shifts, such as aging populations or urbanization trends, affecting demand in the North America electrical testing services market? 

• What are the key strategic partnerships, mergers, and acquisitions shaping the competitive landscape of the North America electrical testing services market? 

• What are the regulatory and legal frameworks impacting the North America electrical testing services market globally or in key regions? 

• How are changing consumer lifestyles and preferences influencing product or service demand within the North America electrical testing services market? 

• What are the emerging market trends and niche opportunities within the North America electrical testing services market that stakeholders should be aware of? 

• How resilient is the North America electrical testing services market to external shocks or disruptions, such as geopolitical tensions or natural disasters? 

• What are the potential barriers to market entry and growth for new players in the North America electrical testing services market? 

Key Benefits for Stakeholders:

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.

Key Highlights of the Report

*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.