Cable Fault Locator Market Growth by Emerging Trends Analysis and Forecasts 2027

Cable Fault Locator Market Growth by Emerging Trends Analysis and Forecasts 2027

A detailed analysis of the cable fault locator market is entailed in this research report. The driving forces responsible for propelling the growth graph of this vertical in addition to the regional and competitive trends are mentioned in the study. A comprehensive document comprising details about vital parameters such as the industry ecosystem analysis, market segmentation, and the vendor matrix, the market report also contains information on the pivotal industry insights for core players to look out for.

Recent trends in the cable fault locator market are propelled by an upsurge in research and development activities and investment initiatives by major industry participants.

For instance, in November 2020, transmission systems operator, TenneT, invited tenders for services associated with cable maintenance and repair in the Netherlands and Germany, which comprise locating cable fruits. The company intended to conclude a contract for a service-level agreement with a cable fault location services provider.

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The cable fault locator market revenue from the petroleum industry is estimated to exhibit a remarkable CAGR of more than 5% over the estimated period. The rise is due to the large-scale adoption of power systems and electric equipment for various processes like cracking, distillation, treating, and conversion.

Added to it, the petroleum industry records the deployment of heavy cables by large machinery for its operations. Primarily underground in many cases, these cables, however, require special attention for the maintenance of uninterrupted operation of the refineries.

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The European region is witnessing an increase in the number of public-private partnerships and government investments for boosting the telecom infrastructure in the region. Additionally, numerous regional cable fault locator manufacturers are inclined towards the development of innovative products for consolidation of market position.

To quote an instance, in August 2020, Mitsubishi Electric rolled out the LV100-type T-series IGBT module for industrial usage. The product is utilized for electric power applications that reduce the size of renewable energy power supply systems and power consumption.

Owing to similar developments, Europe cable fault locator market is estimated to capture a revenue of more than USD 300 million through 2027.

In a nutshell, the escalating emphasis on strict regulatory guidelines for securing cabling infrastructure across numerous applications will augment cable fault locator market share over the assessment span.

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