Cable Testing and Certification Market Worth $14.7 Billion by 2023 - Exclusive Report by MarketsandMarkets(TM)
CHICAGO, November 12, 2018 /PRNewswire/ --
According to the new market research report "Cable Testing and Certification Market [https://www.marketsandmarkets.com/Market-Reports/cable-testing-certification-market-252413582.html?utm_source=PRnewswire&utm_medium=Referral&utm_campaign=PaidPR ] 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" published by MarketsandMarkets(TM), 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 increasing use of cables in various applications, such as electrical & electronics, transportation (automotive & aerospace, rail, and marine), and energy generation & distribution, is expected to drive the Cable Testing and Certification Market.
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Browse in-depth TOC on "Cable Testing and Certification Market"
115 - Tables
38 - Figures
146 - Pages
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"The cable manufacturers end user 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 growth of the cable manufacturers segment.
"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.
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"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 hold the largest market size in the Cable Testing and Certification Market during the forecast period"
APAC is the largest market for cable testing and certification, globally. The rise in 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.
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), TUEV Rheinland (Germany), Bureau Veritas (France), Intertek (UK), TUEV NORD GROUP (Germany), North Central Electric (US), RN Electronics (UK), TUEV SUED (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).
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