Cable Fault Locator Market Forecast and Growth 2031

The cable fault locator market size is projected to reach US$ 3.09 billion by 2031 from US$ 1.45 billion in 2023. The market is expected to register a CAGR of 9.9% in 2023—2031.  The market growth is fueled by factors such as rising underground power grid infrastructure, and the need for cable installation and deployment is likely to remain a key cable fault locator market trend.

Cable Fault Locator Market Analysis

Cable faults can develop for a variety of reasons, including typical service aging, overvoltages, thermal overload, corrosion, and poor workmanship during shipment and installation. Obtaining effective equipment to discover and rectify issues as soon as feasible aids in minimizing downtime and associated expenditures. Across the globe, there is a vast underground and overhead cable infrastructure to support the evolving world. These cables support the transfer of electricity and data for critical applications. A variety of factors can cause cable damage. The most typical causes of faults include the end of service life, external factors, and faulty assembly. When these sorts of cable faults occur, the defective place must be identified as soon as possible and the fault corrected to reduce the duration of the failure. This drives the demand for equipment in the cable fault locator market.

Cable Fault Locator Market Overview

Underground cables have been frequently used because of their dependability and environmental concerns. To increase distribution system dependability, reliable identification of faulted segments is essential in order to reduce interruption time during the fault, i.e., to restore services by finding the faulted segment in a timely manner. An extensive search at a larger scale distance has been undertaken in the traditional method of finding a detector. This is inefficient and time-consuming. Not only is the manpower resource not being used, but the restoration time may vary depending on the accuracy of the outage information. This has been boosting the demand for equipment in the market. Moreover, the demand for this equipment has been on the rise among customers such as manufacturers of high-voltage equipment, utility companies, maintenance & service companies, the government, and the military, among others.

Strategic Insights

Cable Fault Locator Market Drivers and Opportunities

Rise in Underground Power Grid Infrastructure to Favor Market

As cities throughout the world grow and expand, the need for dependable and sate electrical infrastructure has never been greater. While standard overhead electricity lines have been the norm for decades, they have some substantial problems, including their ugly appearance, susceptibility to storm and accident damage, and possible hazards to public safety. As a result, many foresighted towns are looking ahead and embracing a new approach. For example subsurface electrical infrastructure underground electrical infrastructure has been in use for decades in cities such as Tokyo, Japan, and Seoul, South Korea, and has served to support these cities' rapid expansion and development. Cities in the United States, such as Chicago and San Francisco, have recently made considerable investments in underground electrical infrastructure, realizing the benefits it may offer to their communities.

Aging Power Infrastructure. 

There is a greater chance of cable faults due to aging power infrastructure, which raises the need for cable fault locators. The cable fault locator market is expected to expand as a result of investments made by utilities and other businesses in cutting-edge fault-detecting technology in an effort to maintain efficiency and dependability. Further propelling market expansion are advancements in fault detection systems that can provide more precise and effective solutions.

Cable Fault Locator Market Report Segmentation Analysis

Key segments that contributed to the derivation of the cable fault locator market analysis are type, product, and industry.

• Based on type, the cable fault locator market is divided into portable and handheld. The portable segment is anticipated to grow in the forecast period.
• By product, the market is segmented into cable sheath fault locators, cable route tracers, time domain reflectometers, pinpointer, and voltage surge generators. The cable sheath fault locators segment is anticipated to grow in the forecast period.
• By industry, the market is segmented into petroleum, electrical and electronics, telecommunication, power generation, mining, construction, and others. The petroleum segment is anticipated to grow in the forecast period.

Cable Fault Locator Market Share Analysis by Geography

The geographic scope of the cable fault locator market report is mainly divided into five regions: North America, Asia Pacific, Europe, Middle East & Africa, and South America/South & Central America. North America has dominated the cable fault locator market. High technology adoption trends in various industries in the North American region have fuelled the growth of the cable fault locator market. Factors such as increased adoption of digital tools and high technological spending by government agencies are expected to drive the North american cable fault locator market growth. The US is among the top countries at the foretront of smart grid and renewable energy infrastructure. Thus leading to the installation of underground cables.

Moreover, a strong emphasis on research and development in the developed economies of the US and Canada is forcing the North American players to bring technologically advanced solutions into the market. In addition, the US has a large number of intelligent document-processing market players who have been increasingly focusing on developing innovative solutions. All these factors contribute to the region's growth of the cable fault locator market.

Cable Fault Locator Market Report Scope

Cable Fault Locator Market News and Recent Developments

The cable fault locator market is evaluated by gathering qualitative and quantitative data post primary and secondary research, which includes important corporate publications, association data, and databases. The following is a list of developments in the market:

• In May 2022, TATA Power Distribution Limited launched the latest version of the cutting-edge mobile Underground Power Cable Fault Locator system, which will be deployed for cable testing, fault location, cable route tracing & identification activities of underground network for all critical & inaccessible underground cable sections across TPNODL with a minimum possible timeline which in turn will help in faster restoration & reliability improvement.

(Source: TATA Power Distribution Limited, Press Release, 2022)

• In August 2021, Motwane announced its recent acquisition of Telemetrics, an established market leader in highly specialized underground cable fault locating equipment. Through the acquisition, Motwane is able to expand into providing further smart test & measurement solutions to its clients, and thus strengthens its portfolio in India and abroad.

(Source: Motwane, Press Release, 2021)

Cable Fault Locator Market Report Coverage and Deliverables

The “Cable Fault Locator Market Size and Forecast (2021–2031)” report provides a detailed analysis of the market covering the following areas:

• Cable Fault Locator Market size and forecast at global, regional, and country levels for all the key market segments covered under the scope.
• Market dynamics such as drivers, restraints, and key opportunities
• Cable Fault Locator Market trends.
• Detailed PEST/Porter’s Five Forces and SWOT analysis
• Cable Fault Locator covering key market trends, Global and regional framework, major players, regulations, and recent market developments.
• Cable Fault Locator industry landscape and competition analysis covering market concentration, heat map analysis, prominent players, and recent developments.
• Detailed company profiles

REGIONAL FRAMEWORK

Cable Fault Locator Market Report Analysis

MARKET PLAYERS

Cable Fault Locator Market Report Scope

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