Demand in the cable fault locator market is anticipated to increase at a significant 8.5% CAGR by volume between 2023 and 2033 reaching a value of about USD 795.6 million by 2023 end.
The significant growth of the electronics & telecommunication sector in several developing economies worldwide are contributing to the increasing demand for the cable fault locator market. Further, the global business is expected to witness a considerable CAGR of 10.5% by value during the period from 2023 and 2033.
FMI has identified Europe to remain a key market for cable fault locators over the forecast period owing to increasing demand from end-use applications. Further, the region is estimated to witness to expand at a CAGR of 10% by volume over the forecast period.
The development of innovative cable fault detection products is being fueled by the improvement of safety requirements across several sectors. Technology innovation, in addition to technical knowledge, is critical in cable failure detection. End markets are progressively investing in cable fault detection systems to diagnose cable faults quickly and efficiently.
Improving safety standards across different industries is fueling the development of advanced products for cable fault detection. Apart from engineering expertise, technology innovation plays a key role in cable fault detection. End markets are increasingly investing in cable fault detection equipment to enable fast and efficient diagnosis of cable issues.
| Attributes | Details |
|---|---|
| Cable Fault Locator Market Size (2022A) | USD 720 million |
| Estimated Year Value (2023E) | USD 795.6 million |
| Projected Cable Fault Locator Market (2033F) | USD 2159.3 million |
| Value CAGR (2023 to 2033) | 10.5% |
| Collective Value Share: Top 3 Countries (2023E) | 60% |
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The cable fault finder, also known as a cable fault detector, is used to locate cable defects. Damage to subterranean wires is detected by the equipment. Depending on the mechanism of fault detection, several fault detectors are available on the market.
The time domain reflectometry, cable capacitor discharge technique, and arc reflection technique are all typical approaches. For the safe operation of tools and equipment, all of these approaches need technical competence and experience. The capacitor discharge technique is the most common and oldest method for detecting cable faults.
A significant driver of the worldwide cable fault detector market is the growing need for underground electric cables in various application sectors. The need for cable installation and deployment is being driven by rapid urbanization, advancements in network technology, and expansion in the information technology and telecommunications industries.
Because cables are an essential component of many systems in the IT and telecommunications industries, any damage to the cable network compromises the system's integrity and performance.
The majority of the global players in cable fault locators have a strong presence in North America and Europe. As industries such as telecommunication and electronics are rapidly increasing, these regions are expected to present significant opportunities for the cable fault locator market.
Also, the presence of local/regional players is high in regions such as East Asia, South Asia, and Oceania, especially in China. Also, the construction industry is rapidly expanding in the Asia Pacific region and is forecasted to reach more than 5 trillion USD by the year 2023.
This factor is leading to higher opportunities in these regions. The high growth of the cable fault locater market has created opportunities for regional players to penetrate untapped regions by focusing on product development.
Global cable faults locator manufacturers such as Megger, 3M, Fluke Corporation, Hubbell Incorporated, PCE Deutschland GmbH, BAUR GmbH, and Kehui International Ltd, amongst others are emphasizing increasing their product offerings for cable fault locators including cable sheath fault locators, cable route tracer, time domain reflectometer, pinpointer, voltage surge generator, and others.
Companies such as Megger, Hubbell Incorporated, Kehui International Ltd, and Telemetrics Equipments Pvt. Ltd. are offering cable fault locators for high-voltage underground cables. This equipment is available in the market as fully portable and vehicle mounted, but has high prices as compared to low voltage cable locators.
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Increasing Investment in Research & Development is one of the key trends influencing the growth of the market. Manufacturers of cable fault locators are increasing their investments in research and development for strengthening their product portfolio and to sustain their position in the global market.
For example, 3M Company, one of the prominent manufacturers of cable fault locators has invested in research and development to support the growth of its product portfolio.
In 2017, 3M, Chairman of the Board, President, and CEO Inge Thulin announced that the company was expecting another strong performance in 2018. Thulin had outlined how the 3M Playbook was creating significant value while emphasizing ongoing investments to support growth, strengthen the portfolio and increase productivity.
Also, Growth in the telecommunications industry in the historic period resulted from government initiatives, technological development, and economic growth in emerging countries. Increasing adoption of the Internet of Things (IoT), economic growth, and the launch of an increasing number of smart cities are projected to drive growth in the telecommunication market.
Thus, these development trends are expected to shape the cable fault locator market during the forecast period at a significant CAGR.
The usage of a large number of high and medium-voltage cables for power production and distribution in China gave the power and energy industry a considerable revenue share in the cable fault finder market in 2020. Cables are used in the electricity industry for long-distance transmission.
The expanding global demand for power is driving up the need for high and medium-voltage cables. Following the development of the internet, smart grids have arisen as key technical achievements.
Smart grids are being developed and deployed by governments throughout the world to reduce carbon dioxide emissions and improve the performance of energy supply by enabling real-time monitoring of the network's transmission, distribution, and generating.
The market in China is projected to create a total incremental $ opportunity of USD 79.3 Million between 2023 and 2033. The country is expected to account for 11.5% CAGR during the forecast period.
Germany is projected to create a total incremental $ opportunity of USD 40 million between 2023 and 2033. The country is expected to account for a 9.8% CAGR during the forecast period. Certain domestic market participants are collaborating with overseas manufacturers to enhance their sales volume.
The rapid adoption of technologically-advanced products in the ever-changing telecommunication market, as well as the price, robustness, and optimum performance of any electronic equipment, has a significant impact on the market dynamics of the resulting product. Expanding Telecommunication and Electronic industries and advancing electricity transmission infrastructure are majorly boosting the growth of the cable fault locator market.
Increasing electricity demand has propelled the power generation sectors' growth. Conventional power sources include nuclear power and fossil fuels, while renewable sources of energy comprise traditional hydropower, biomass, biofuels, wind, solar, and geothermal among others.
Also, significantly growing industries in Europe such as consumer appliances, electronics, and electrical equipment are creating significant demand for cable fault locators. Thus, these factors are ultimately fuelling the growth of the cable fault locator market in Germany.
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The cable route tracer is leading the product type segment for the cable fault locator market. The cable route trace is a device used for the fault location of underground power and telecom cable network.
Cable route tracers are widely used in mining and telecommunication industries for resolving underground and low-voltage cable faults. The telecommunication industry is growing significantly across the globe due to increasing technological developments, which is leading to the increasing use of cable fault locators. Therefore, growing telecommunication and mining industries are anticipated to bolster the growth of the market.
Cable Route Tracer is projected to thrive at 8.5% CAGR by volume during the forecast period. The cable route tracer is expected to account for a market share of 23% in 2023.
The portable segment is projected to expand at 10.5% CAGR by volume from 2023 to 2033. Manufacturers of cable fault locators are constantly focusing on bringing innovative developments in cable fault locators to improve their operational capabilities.
Cable fault locators are witnessing increasing demand due to the availability of portable cable fault locators with advanced features. Further, changing industrial requirements and increasing production activities are boosting the demand for portable cable fault locators.
Portable cable fault locators offer advantages such as ease of usage, handheld options, display units, and others, which are driving the adoption of portable cable fault locators.
Over the past few years, an increment in the number of acquisitions and expansion activities has been witnessed to improve the supply of cable fault locators. Several key players are also focusing on improving the quality and reliability of cable fault locators for various applications. Further, the emergence of various manufacturers had also been witnessed in the global business.
For Instance
| Attributes | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Estimated Year Value (2023E) | USD 795.6 million |
| Projected Cable Fault Locator Market (2033F) | USD 2159.3 million |
| Value CAGR (2023 to 2033) | 10.5% |
| Market Analysis | USD Million for Value and Unit for Volume |
| Key Regions Covered | North America; Latin America; Western Europe; Eastern Europe; South Asia & Pacific; East Asia; Middle East & Africa (MEA) |
| Key Countries Covered | United States, Canada, Brazil, Mexico, Germany, United Kingdom, France, Spain, Italy, Poland, Russia, Czech Republic, Romania, India, Bangladesh, Australia, New Zealand, China, Japan, South Korea, GCC Countries, South Africa, Israel |
| Key Segments Covered | Portability Type, Product Type, End Use, and Region |
| Key Companies Profiled | Megger; Fluke Corporation; Hubbell Incorporated; PCE Deutschland GmbH; 3M; Electrocon Systems; BAUR GmbH; High Voltage, Inc.; Kehui International Ltd; Telemetrics Equipments Pvt.Ltd; Kusam Electrical Industries Limited; ELEKTRONIKA |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, Drivers, Restraints, Opportunities and Threats Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The market is valued at US$ 795.6 million in 2023.
The market is estimated to secure a valuation of US$ 2159.3 million in 2033.
Through 2033, the market is projected to continue to expand at a CAGR of 10.5%.
During the projection period, the cable route tracer segment is expected to accelerate with a CAGR of 8.5%.
During the forecast period, the China market is scheduled to expand at an 11.5% CAGR.
During the projection period, the German market experienced growth at a CAGR of 9.8%.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Portability Type 5.1. Portable 5.2. Handheld 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product Type 6.1. Cable Sheath Fault Locators 6.2. Cable Route Tracer 6.3. Time Domain Reflectometer 6.4. Pinpointer 6.5. Voltage Surge Generator 6.6. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By End User 7.1. Petroleum 7.2. Electrical and Electronics 7.3. Telecommunication 7.4. Power Generation 7.5. Mining 7.6. Construction 7.7. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 8.1. North America 8.2. Latin America 8.3. Western Europe 8.4. Eastern Europe 8.5. South Asia and Pacific 8.6. East Asia 8.7. Middle East and Africa 9. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 10. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 11. Western Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 12. Eastern Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. South Asia and Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. East Asia Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Middle East and Africa Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. Key Countries Market Analysis 17. Market Structure Analysis 18. Competition Analysis 18.1. Megger 18.2. Fluke Corporation 18.3. Hubbell Incorporated 18.4. PCE Deutschland GmbH 18.5. 3M 18.6. Electrocon Systems 18.7. BAUR GmbH 18.8. High Voltage, Inc. 18.9. Kehui International Ltd 18.10. Telemetrics Equipments Pvt.Ltd 18.11. Kusam Electrical Industries Limited 18.12. ELEKTRONIKA 19. Assumptions & Acronyms Used 20. Research Methodology
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Cable Fault Locator Market
