This Cable Testing market study offers a comprehensive analysis of the business models, key strategies, and respective market shares of some of the most prominent players in this landscape. Along with an in-depth commentary on the key influencing factors, market statistics in terms of revenues, segment-wise data, region-wise data, and country-wise data are offered in the full study. This study is one of the most comprehensive documentation that captures all the facets of the evolving Cable Testing market.
Global Cable Testing Market: Introduction
The cost of the substitution of cables that are concealed is very high. Faults in the cable, bending, kinking, and crushing, are not always visible, which has created the requirement for cable testing. Thus, cable testing helps check the cable functionality, cable quality, and cable conformity. Several times, cable testing by visual inspection is an effective way of identifying the actual problem before it causes any downtime. The signs of a faulty cable include cracks in the insulation, corrosion on the copper, or moisture on the cables. Cable faults create disruption and cost money, hence, there is high demand for cable testing to ensure that the joints and cables are in good condition and to locate the faults in cables quickly.
A wide range of test equipment and test techniques are available in the market for cable testing. However, cable testing is not an easy task. For all those involved in energy distribution, cable testing is a vital concern to predict as well as deal with cable faults. As per the international standards there are variety of offline and online cable testing and monitoring solutions to detect the cable faults. With cable testing, one can ensure the extended service life and the reliable operation of cables & cable accessories. The testing of newly laid cables is performed to reveal any faults arising from installation or transportation.
Market Growth Analysis
Disclaimer: This data is only a representation. Actual data may vary and will be available in the report.
Global Cable Testing Market: Dynamics
The increasing usage of cables due to an increase in the generation of electricity is one of the key factors driving the cable testing market. Growing urbanisation and industrialisation are also significant factors that are expected to boost the cable testing market during the forecast period. Cable testing is substantially less costly as compared to changing the cabling in the future, thus, cost effectiveness is another significant factor contributing to the growth of the cable testing market over the projected period. Furthermore, the rising demand for high-voltage cables by various end users is also estimated to fuel the growth of the cable testing market. Moreover, growth in IT industries and global electronics is supporting the growth of the cable testing market during the forecast period. However, harmful effects caused while conducting few cable tests is restraining the growth of the cable testing market. High testing and certification lead time is another significant factor hindering the growth of the cable testing market.
Global Cable Testing Market: Competition Landscape
Some of the key vendors in the cable testing market are OMICRON electronics GmbH, Megger Group Limited, Intertek Group plc, Dekra, Bureau Veritas S. A., British Approvals Service for Cables, Industrial Tests, Eurofins Scientific, Central Power Research Institute, North Central Electric, and KEMA Laboratories.
In December 2017, Underwriters Laboratories signed a Memorandum of Agreement (MOA) with Korea Testing Certification, a service provider of testing and certification in South Korea. Under this agreement, the Korea Testing Certification (KTC) will provide training to the KTC staff on the Underwriters Laboratories standards.
Global Cable Testing Market: Regional Outlook
Geographically, the cable testing market can be segmented into North America, Western Europe, Latin America, Asia Pacific excluding Japan (APEJ), Japan, Eastern Europe, and Middle East & Africa (MEA).
Asia Pacific is expected to dominate the cable testing market owing to growth in the consumption and production of cables in countries such as India, Australia, China, Japan, and South Korea. The growing urbanisation and industrialisation in this region is expected to drive the cable testing market. The region has emerged as the largest consumer of cable testing.
The report covers an exhaustive analysis on:
- Market Segments
- Market Dynamics
- Historical Actual Market Size, 2013-2017
- Market Size and Forecast 2018 to 2028
- Supply and Demand Value Chain
- Current Trends/Issues/Challenges
- Competition and Companies Involved
- Value Chain
- Market Drivers and Restraints
Regional analysis for the global cable testing market includes:
- North America cable testing market
- Latin America cable testing market
- Rest of Latin America
- Western Europe cable testing market
- Rest of Western Europe
- Eastern Europe cable testing market
- Asia Pacific cable testing market
- Australia and New Zealand
- Rest of SEA and Others of APAC
- Japan cable testing market
- China cable testing market
- Middle East and Africa cable testing market
- GCC Countries
- North Africa
- South Africa
- Rest of MEA
The report is a compilation of first-hand information, qualitative and quantitative assessment by industry analysts, and inputs from industry experts and industry participants across the value chain. It provides an in-depth analysis of parent market trends, macro-economic indicators, and governing factors, along with market attractiveness as per segment. It also maps the qualitative impact of various market factors on market segments and geographies.
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Global Cable Testing Market: Segmentation
The global cable testing market can be segmented on the basis of voltage, test, end-user, and region.
Cable testing market, by voltage
- Low voltage
- Medium voltage
- High voltage
Cable testing market, by test
Cable testing market, by end user
- Cable Manufacturers
- Utility Providers
- Detailed overview of parent market
- Changing market dynamics of the industry
- In-depth market segmentation
- Historical, current and projected market size in terms of volume and value
- Recent industry trends and developments
- Competitive landscape
- Strategies of key players and product offerings
- Potential and niche segments/regions exhibiting promising growth
- A neutral perspective towards market performance
- Must-have information for market players to sustain and enhance their market footprint
Frequently Asked Questions
What research methodology is used to develop the Cable Testing Market report?
- FMI utilizes three branched methods to derive market measurements used to compile any report study (data derivation, triangulation and validation).
- These approaches include accumulating data from both primary and secondary sources
- Primary research involves interviews with industry operators and FMI's network of contacts spanning the world's value chain of the Cable Testing Market. This is supported by a comprehensive literature analysis of information gathered through secondary sources
- Analysis of several middle market stakeholders for country-wise data
What else does FMI offer apart from Cable Testing Market report?
In addition to up-to-date market figures and customized of the Cable Testing Market, FMI offer consulting services to help businesses within industry navigate challenges and take well-informed decisions amidst the breakneck competition.
How do you define competitors based on market structure? What aspects about a competitor are included in the company profile section?
- Most of the competitors are segregated according to their market share in 'Tier' wise statures.
- Global market participants are scrutinized and global competition metrics are included with numerous competitor profiles referring to their business background and go-to market strategies.