As per Zion Market Research, global demand for Cable Testing and Certification market was valued at approximately USD 11.9 Billion in 2019, and is expected to generate revenue of around USD 17.2 Billion by end of 2026, growing at a CAGR of around 5.4 % between 2020 and 2026.
Global Cable Testing and Certification Market: Overview
Factors such as poor performance in new network systems, improper system deployment, and bad products have stimulated the need for cable testing and certification. Improved quality assurance processes and elimination of possible error criteria have led cable testing and certification demands by cable manufacturers. Cable testing and certification means validating the cable efficiency of the network as mandated by industry standards. Cable testing and certifications are used to ensure that the new cable connections provide transmission speeds according to consumer specifications. These certifications can fix problems including crossing wires, cable strain, cable damage or kinks, cable breakdown and failure, improper termination of cables and proper connector installation.
Global Cable Testing and Certification Market: Growth Factors
The cable testing and certification market growth is anticipated to gain traction in the upcoming years subject to factors such as increasing use of cables as a result of the rise in power generation in the OECD and non-OECD countries, growth in the global electronics and IT sectors, and rise in industrialization and globalization. The rise in demand for cable testing & certification across electrical & electronics, railway, automotive, marine, roadways, aerospace, and energy generation & distribution sectors will steer the cable testing and certification market over the projected years. Massive demand for high-volt cables by myriad end-users including transmission & distribution utilities, offshore wind farms, and energy sector will significantly influence the growth of the cable testing and certification market during the forecast timeline.
Global Cable Testing and Certification Market: Segmentation
The global cable testing and certification market has been categorized into end user, test type, and voltage type. Based on the end-user, the market is divided into utility providers, and cable manufacturers. On the basis of test type, the cable testing and certification market is classified into a type test, routine test, and sample test. Based on the voltage type, the cable testing and certification market is segmented into low, medium, and high voltage.
Region-wise, the global market is segregated into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Global Cable Testing and Certification Market: Regional Analysis
Based on regions, the global cable testing and certification market can be divided into five main regions: North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. Asia Pacific is projected to be the swiftly 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 in the region. The rise in demand for cables from several industries such as electrical & an electronics, transportation, and energy utility in Asia Pacific is projected to raise the demand for cable testing and certification in the region. This will drive the cable testing and certification market trends in the region.
Growing power crises and blackouts in various countries of North America and Europe are anticipated to drive cable testing and certification market demand in the next few years. Huge presence of renowned manufacturers will boost cable testing and certification market earnings in these regions.
The Middle East & Africa and Latin America markets have huge growth potential and will contribute notably towards the global cable testing and certification market share in the near future.
Global Cable Testing and Certification Market: Competitive Players
The key players of the global cable testing and certification market include DEKRA, Underwriters Laboratories, British Approvals Service for Cables, SGS , BRE Global, TÜV Rheinland, Bureau Veritas, Intertek, TÜV NORD GROUP, North Central Electric, RN Electronics, TÜV SÜD , Eland Cables, and Industrial Tests.
Cable Testing and Certification Market: Regional Segment Analysis
- North America
- The U.S.
- Canada
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Southeast Asia
- Rest of Asia Pacific
- Latin America
- Brazil
- Mexico
- Rest of Latin America
- Middle East & Africa
- GCC
- South Africa
- Rest of Middle East & Africa
Frequently Asked Questions
Rise in electricity generation in the OECD and Non- OECD countries and growth in industrialization and urbanization are the factors that are likely to propel the cable testing and certification market on a global scale.
According to Zion Market Research, global demand for Cable Testing and Certification market is expected to generate revenue of around USD 17.2 Billion by end of 2026, growing at a CAGR of around 5.4% between 2020 and 2026.
The APAC cable testing and certification market is projected to hold the largest share globally in the future. It is due to growth in production and consumption of cables in countries such as India, China, South Korea, Japan, and Australia. Moreover, the growing industrialization in this region is expected to drive the market for cable testing and certification during the forecast period.
Some main participants of the global cable testing and certification market include DEKRA, Underwriters Laboratories, British Approvals Service for Cables, SGS , BRE Global, TÜV Rheinland, Bureau Veritas, Intertek, TÜV NORD GROUP, North Central Electric, RN Electronics, TÜV SÜD , Eland Cables, and Industrial Tests among others.
