Cable Fault Locator Market with Growth Prospect and Technology Innovation Revenue and Forecast by 2027

Cable Fault Locator Market with Growth Prospect and Technology Innovation Revenue and Forecast by 2027

On this note, the cable fault locator market size is anticipated to surpass a valuation of USD 1 billion by the end of 2027, cites the latest study conducted by Global Market Insights, Inc. Recent trends in the cable fault locator industry are propelled by an upsurge in research and development activities and investment initiatives by major industry participants.

For instance, in November 2020, transmission systems operator, TenneT, invited tenders for services associated with cable maintenance and repair in the Netherlands and Germany, which comprise locating cable fruits. The company intended to conclude a contract for a service-level agreement with a cable fault location services provider.

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The growth is attributed to the escalating deployment of handheld cable fault locators given that they provide a tone for wire tracing and identification. These products are combined with innovative signal processing techniques that enable the location of water ingress, short circuits, splices, and other mismatches.

In view of these aspects, handheld cable fault locators are estimated to record lucrative growth through 2027 due to their capability to be carried over long distances for the detection of faults in metallic cables.

The cable fault locator market is further expected to record a considerable demand for cable route tracers impelled by the mounting requirement for the measurement, tracking, and location of the depth of buried power cables. Particularly utilized for tracing the actual role of underground cables, tracers indicate the depth of the cable laid underground.

The equipment is utilized for obtaining the precise location of the underground cable route and preparing records and maps of the underground utility network. Driven by these advantages, the cable route tracer industry is estimated to expand at a lucrative CAGR of more than 10% between 2021 and 2027.

How will the cable fault locator industry expand with increasing demand across the petroleum sector?

The cable fault locator market revenue from the petroleum industry is estimated to exhibit a remarkable CAGR of more than 5% over the estimated period. The rise is due to the large-scale adoption of power systems and electric equipment for various processes like cracking, distillation, treating, and conversion.

Added to it, the petroleum industry records the deployment of heavy cables by large machinery for its operations. Primarily underground in many cases, these cables, however, require special attention for the maintenance of uninterrupted operation of the refineries.

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Europe cable fault locator market – growth prospects through 2027

The European region is witnessing an increase in the number of public-private partnerships and government investments for boosting the telecom infrastructure in the region. Additionally, numerous regional cable fault locator manufacturers are inclined towards the development of innovative products for consolidation of market position.

To quote an instance, in August 2020, Mitsubishi Electric rolled out the LV100-type T-series IGBT module for industrial usage. The product is utilized for electric power applications that reduce the size of renewable energy power supply systems and power consumption.

Owing to similar developments, Europe cable fault locator industry is estimated to capture a revenue of more than USD 300 million through 2027.

In a nutshell, the escalating emphasis on strict regulatory guidelines for securing cabling infrastructure across numerous applications will augment cable fault locator market share over the assessment span.

Table of Contents (ToC) of the report:

Chapter 1   Methodology & Scope

1.1    Scope and definition

1.2    Methodology & forecast parameters

1.3    COVID-19 impact

1.3.1    North America

1.3.2    Europe

1.3.3    Asia Pacific

1.3.4    Latin America

1.3.5    MEA

1.4    Regional trends

1.4.1    North America

1.4.2    Europe

1.4.3    Asia Pacific

1.4.4    Latin America

1.4.5    MEA

1.5    Data Sources

1.5.1    Secondary    Paid sources    Public sources

1.5.2    Primary

Chapter 2   Executive Summary

2.1    Cable Fault Locator market 360º synopsis, 2016 - 2027

2.2    Business trends

2.3    Regional trends

2.4    Product trends

2.5    Type trends

2.6    Application trends

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