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4 Notable Trends Driving Global Cable Fault Locator Market Expansion

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4 Notable Trends Driving Global Cable Fault Locator Market Expansion

With the rising government emphasis on the upgradation of aging power infrastructure and deployment of secure and efficient cabling systems, the demand for cable fault locators is predicted to grow significantly in the forthcoming years. As per the Council on Foreign Relations, the U.S. government under its USD 2 trillion infrastructure plan, is focusing on the modernization of the region’s electrical grid as well as physical infrastructures, such as airports, railways, and others.

Cable fault locators effectively aid in preventing electrical and fire hazards in workplaces and hence, allowing enterprises to achieve industrial safety standards set by the government. Industries and enterprises spend extensively on acquiring advanced systems to pre-locate any hazardous situations and maintain the safety of workers and equipment.

Global cable fault locator market size is slated to exceed USD 1 billion by 2027, cites a recent report by Global Market Insights, Inc.

Described below are some trending factors propelling the adoption of cable fault locators.

Strong demand for cable route tracer

A cable route tracer is extremely beneficial in locating the actual route and depth of buried cables. This leads to extensive utilization of the device across several construction projects for precise mapping and recording of the underground utility network.

With surging underground construction activities, along with the growing need to trace, locate, and measure buried power cable networks, the adoption of cable route tracer is expected to spur significantly in the upcoming years. Driven by this, the industry share from cable route tracer is predicted to expand at 10% CAGR through 2027.

Preference for handheld electric cable fault locator

The handheld cable fault locator is powered by advanced signal transmission technologies that enable it to locate water ingress, short circuits, splices, and other hindrances. This device is highly preferred over its portable counterpart owing to its compactness and ability to set a tone for wire tracing and identification. Largely, the advantage of handheld cable fault locator to be carried for long distances to easily identify faults in metallic cable networks drives its demand in sectors like telecom, power & energy, and mining, among others.

Rising penetration across the petroleum sector

The petroleum industry extensively deploys electric equipment and power systems for its various processes, such as distillation, conversion, cracking, and treating. These systems are predominantly backed by the underground cable infrastructure, which requires advanced technology to locate any fault and maintain the non-stop refining operations. This makes the underground cable fault locator widely adopted in the petroleum industry. Owing to this, cable fault locator industry share from the petroleum sector is estimated to grow at 5% CAGR up to 2027.

The flourishing telecom sector in Europe

Europe cable fault locator industry revenue share is slated to value at USD 300 million by 2027. This is owing to increasing government expenditure and public-private partnerships to upgrade the telecom sector in the region. Moreover, there are growing initiatives by regional electronics companies to develop novel products.

Citing an instance, in August 2020, Mitsubishi Electric introduced its LV100-type T-series IGBT module for industrial applications. Its integration with electric power systems reduces electricity consumption and the size of renewable energy power grids. This apart, growing emphasis toward the development of physical infrastructure in the region would support the cable fault locator business in Europe.

With the rapid adoption of industry 4.0, digital transformation, and the emergence of many novel technologies, such as 5G networks, IoT, and others, the growing deployment of electric wire and systems, is likely to boost global cable fault locator industry forecast.

Source: Global Market Insights, Inc.