How Changing Dynamics of Cable Testing Market are Reflecting on Growth Strategies of Players: OMICRON electronics GmbH, Megger Group Limited, Intertek Group plc, Dekra, Bureau Veritas S. A
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.
Global Cable Testing Market: Competition Landscape - Key Vendors - 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.
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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.
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.
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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
Cable testing market, by test
Cable testing market, by end user
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