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“Increasing use of cables due to the rise in electricity generation in the OECD and non-OECD countries to drive the growth of the cable testing and certification market”
The cable testing and certification market is estimated at USD 11.3 billion in 2018 and is projected to reach USD 14.7 billion by 2023, at a CAGR of 5.4% between 2018 and 2023. The cable testing and certification market is driven by various factors, such as increasing use of cables due to the rise in electricity generation in the OECD and non-OECD countries, growth in the global electronics and IT industries, and growth in industrialization and globalization.
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“The cable manufacturers end use segment to witness the highest CAGR in the global cable testing and certification market during the forecast period”
The two key end users of cable testing and certification are cable manufacturers and utility providers. Cable manufacturers are the dominant end users of cable testing and certification, globally. They invest in the testing of cables to check their product quality and ensure consistency in the quality of the cables produced. Therefore, the demand for cables from the end-use industries such as electrical & electronics, transportation, and energy generation & distribution is expected to drive the cable manufacturers segment growth
“Routine tests to witness the highest CAGR in the global cable testing and certification market during the forecast period”
A routine test is a group of tests performed on each batch of finished cables to determine the integrity of the cables. The tests included under this segment are conductor resistance test, high voltage test (hi-pot test), insulation resistance test, copper wire screen resistance test, partial discharge test, dimensional tests, and cable markings and measurement. These tests may differ based on the cable types and are specified in the relevant cable standards. Due to the low cost of routine test, it is expected to grow at a high rate.
“The high-voltage cables segment to witness the highest CAGR in the global cable testing and certification market during the forecast period”
The cable testing and certification market is segmented into three voltage types, namely, low, medium, and high based on the voltage range of the cables. High-voltage cables are used in submarine, underground, and overhead conditions. Some of the major end users of high-voltage cables include transmission & distribution utilities, offshore wind farms, and other energy industries. The rising demand for high-voltage cables by different end users is expected to drive the demand for their testing and certification.
“APAC to record highest growth rate during the forecast period”
APAC is projected the fastest-growing market for cable testing and certification, globally. The rise in the demand for cables is associated with the increase in electricity generation and distribution due to the rapid industrialization and urbanization. The rise in demand for cables from several industries such as electrical & electronics, transportation, and energy utilities in APAC is projected to raise the demand for cable testing and certification in the region.
Extensive primary interviews were conducted to determine and verify the market size for several segments and subsegments and information gathered through secondary research.
The breakup of primary interviews is given below.
- By Company Type - Tier 1 – 55%, Tier 2 – 30%, and Tier 3 – 15%
- By Designation - C level – 21%, Director level – 23%, and Others – 56%
- By Region - North America – 45%, Europe – 27%, APAC – 15%, the Middle East & Africa – 7%, and South America – 6%.
The leading players in the cable testing and certification market are DEKRA (Germany), Underwriters Laboratories (US), British Approvals Service for Cables (UK), SGS (Switzerland), BRE Global (UK), T?V Rheinland (Germany), Bureau Veritas (France), Intertek (UK), T?V NORD GROUP (Germany), North Central Electric (US), RN Electronics (UK), T?V S?D (Germany), Eland Cables (UK), Industrial Tests (US), Eurofins Scientific (Luxembourg), KEMA Laboratories (Norway), Applus+ (Spain), CESI (Italy), Kinectrics (Canada), Tecnalia Corporation (Spain), The Institute for International Product Safety (Germany), and Central Power Research Institute (India).
This research report categorizes the global cable testing and certification market on the basis of end user, test, voltage type, and region. The report includes detailed information regarding the major factors influencing the growth of the market, such as drivers, restraints, challenges, and opportunities. Detailed analysis of the key market players provides insights into business overviews, services, key strategies, and recent developments associated with the market.
Reasons To Buy the Report
The report will help market leaders/new entrants in this market in the following ways:
- This report segments the global cable testing and certification market comprehensively and provides the closest approximations of market sizes for the overall market and subsegments across verticals and regions.
- The report will help stakeholders understand the pulse of the market and provide them with information on the key market drivers, restraints, challenges, and opportunities.
- This report will help stakeholders understand the major competitors and gain insights to enhance their positions in the business.
- The competitive landscape section includes expansions, acquisitions, mergers, and research & development activities.