Cable Fault Locator Market size is set to surpass USD 1 billion by 2027, according to a new research report by Global Market Insights Inc.
The market growth is attributed to the growing demand for underground cables across the globe. The growing demand for electricity across the globe is propelling the demand for high and medium-voltage cables. The increasing demand for power across industries in urban areas is anticipated to increase the demand for underground cable systems. These power cables are laid underground to provide power over longer distances. They must sustain in the harsh underground environment. The market expansion is credited to the aging underground cable infrastructure. The cable fault locators help in detecting the faults in underground cables.
Growing popularity of time-domain reflectometer due to its strong capabilities to operate for long-distance cable fault operations is supporting the market progression
Time-domain reflectometer is expected to witness 10% growth rate through 2027 as a result of its lightness and portability. The time-domain reflectometer is quite popular across the low voltage cable operations for fault detection. The time-domain reflectometer is used for detecting faults in the transmission lines. It sends the low-voltage pulsed signal through the transmission lines and checks for the reflections arising owing to the impedance mismatch. The device can be used for testing a very long underground cable, where it is impractical to dig out the cable for testing.
Increasing adoption of portable segments across the energy and utility sector is fueling the segment growth
The portable cable fault locator segment dominated more than 60% of revenue share in 2020 led by the growing demand for fault locators across high voltage industrial applications. The portable cable fault locator equipment is heavy as compared to the handheld equipment. This type of cable fault locator is used for pre-locating and pinpointing cable faults. The portable fault locators are designed to provide quick, effective, accurate, and safe fault locations; thereby, reducing system outages and minutes lost. The instrument comes in a rugged yet portable enclosure.
Browse key industry insights spread across 240 pages with 340 market data tables and 34 figures & charts from the report, “Cable Fault Locator Market Size By Product (Cable Sheath Fault Locators, Cable Route Tracer, Time Domain Reflectometer, Pin Pointers, Voltage Surge Generators), By Type (Portable, Handheld), By Application (Telecom, Power & Energy, Electronics, Mining, Construction, Petroleum), COVID-19 Impact Analysis, Regional Outlook, Growth Potential, Competitive Market Share & Forecast, 2021 - 2027” in detail along with the table of contents:
Rising demand for improved power infrastructure across the telecom sector to support the market revenue
The telecom sector is poised to showcase a significant growth rate during the forecast period owing to the increasing investments in telecom infrastructure and commercialization of the 5G network. The cable fault locator helps the industry to locate periodic faults in the underground cabling. The increasing need for advanced network technologies across the IT sector due to rising urbanization is also the major driver behind the industry progression. The cables are an important part of different power infrastructures in the telecom sectors, and any damage to the cable network may reduce the performance of the entire ecosystem.
Rapid industrialization across the APAC region will create more opportunities for cable fault locators
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Asia Pacific cable fault locator market will reach USD 250 million by 2027 on account of the supportive government initiatives and policies to foster the acceptance of industrial automation solutions. Emerging countries including China and India are predicted to lead the regional growth, followed by ongoing investments in the expansion and upgrading of power capacities and electric infrastructure. In addition, the region has an increasing demand for 5G and broadband services; therefore, leading tech giants are collaborating to boost internet connectivity across the region.
Focus on product development by key players to augment the market share
Some of the key companies operating in the market are Asian Contec Ltd., Stanlay, BAUR GmbH., Bowden Bros Ltd., CAHORS., Clinton Instrument, Dipl.-Ing. H. Horstmann GmbH., Eaton Corporation., Elektro-Mechanik GmbH (EMG)., High Voltage, Inc., Hubbell Incorporated., Megger, Nortroll AS, Schneider Electric SE, Schweitzer Engineering Laboratories, Inc, Siemens AG., and The 3M Company. The leading participants are focusing on innovating cable fault locators to offer sustainable solutions.
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