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Global Cable Testing & Certification Market - Forecast to 2023: Growing Use of Cables in the Construction and Automotive Industries - ResearchAndMarkets.com

November 19, 2018

DUBLIN--(BUSINESS WIRE)--Nov 19, 2018--The “Cable Testing and Certification Market by Voltage (Low Voltage, Medium Voltage and High Voltage), Test (Routine Test, Sample Test and Type Test), End-User (Cable Manufacturers and Utility Providers), and Region - Global Forecast to 2023” report has been added to ResearchAndMarkets.com’s offering.

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.

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.

Market Dynamics

Drivers

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 Growth in Industrialization and Urbanization

Restraints

High Cost of Cable Testing and Certification

Opportunities

Growing Use of Cables in the Construction and Automotive Industries Rise in Renewable Energy Production

Challenges

Harmful Effects Caused While Conducting a Few Cable Tests High Testing and Certification Lead Time

Key Topics Covered

1 Introduction

2 Research Methodology

3 Executive Summary

4 Premium Insights

5 Market Overview

6 Cable Testing and Certification Market, By Voltage Type

7 Cable Testing and Certification Market, By Test

8 Cable Testing and Certification Market, By End-User

9 Cable Testing and Certification Market, By Region

10 Competitive Landscape

11 Company Profiles

Underwriters Laboratories (UL) Dekra British Approvals Service for Cables (Basec) SGS TV Rheinland Bureau Veritas Intertek DNV GL (Kema Laboratories) Kinectrics Cesi Bre Group Eland Cables Eurofins Scientific TV SD Applus ALS TUV Nord Industrial Tests North Central Electric RN Electronics Central Power Research Institute (CPRI) Japan Electric Cable Technology Center (Jectec)

For more information about this report visit https://www.researchandmarkets.com/research/crvvvw/global_cable?w=4

View source version on businesswire.com:https://www.businesswire.com/news/home/20181119005383/en/

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Related Topics:Wire and Cables

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SOURCE: Research and Markets

Copyright Business Wire 2018.

PUB: 11/19/2018 08:12 AM/DISC: 11/19/2018 08:12 AM

http://www.businesswire.com/news/home/20181119005383/en

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