Global sales of cable fault locator market are expected to be upheld by promising rate of adoption within telecommunication, and electrical & electronics industries, as indicated by a new market intelligence study of Future Market Insights (FMI). Currently, the two industries collectively represent more than a third of global revenues of the cable fault locator market.
The COVID-19 crisis in, 2020 has impacted the global economy to a significant extent. Because of the lockdown there was decrease in the demand and production form end use industries and supply chain disruption had negatively impacted the global market. Also, nationwide lockdowns and restrictions in movement had resulted in standstill of trade activities.
Shutdown of end use industries had impacted the sales rate of every industry products in 2020 all over the world. Decrease in sales of components, and decreased production rate had significantly affected the business of cable fault locator market.
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Key Takeaways of Cable Fault Locator Market Study
- North America and Europe are expected to account for major revenue share in the cable fault locator market through 2029.
- FMI’s analysis indicates East Asia would continue to be lucrative market for cable fault locator market players in the foreseeable future
- The global cable fault locator market represents a fragmented competition landscape, where leading players are focusing on enhancing the capabilities of cable fault locators with versatile features that allow for their usage in an array of fault location applications.
“Besides significant demand for cable fault locators from primary end-use verticals, such as telecom and electrical & electronics, there is a considerably high usage of cable fault locator devices in mining, petroleum, and power generation industries.
Key Segment
Portability
- Portable
- Handheld
Product
- Cable Sheath Fault Locators
- Cable Route Tracer
- Time Domain Reflectometer
- Pinpointer
- Voltage Surge Generator
- Others
End Use
- Petroleum
- Electrical& Electronics
- Telecommunication
- Power Generation
- Mining
- Construction
- Others
Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East and Africa
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Accuracy to be of Paramount Importance in New Product Launches
Megger, Fluke Corporation, Hubbel, 3M, and BAUR GmbH are some of the major players in the cable fault locator market. These players are focusing on introducing technological advancements to further strengthen their hold on the market. BAUR GmbH Company has developed a vehicle-mounted cable fault location system that is suitable for any operation. Smaller regional players are trying to differentiate their product offerings by introducing novel features in existing products. For instance, ELEKTRONIKA is offering graaf fault locators, which are used for accurate fault location on totally water-soaked cables.
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Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market. It discloses opportunities that will favor the market growth in various segments on the basis of Source, Application, Sales Channel and End Use over the next 10-years.
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