Underwriters Laboratories (US) and TÜV Rheinland (Germany) are the Leading Players in the Cable Testing and Certification Market
The global market size of cable testing and certification is projected to grow from USD 11.3 billion in 2018 to USD 14.7 billion by 2023, at a compound annual growth rate (CAGR) of 5.4% during the forecast period. The major driving factors in the cable testing and certification market are rising electricity generation in the OECD and non-OECD countries and growth in the global electronics and information technology (IT) industries.
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), TÜV Rheinland (Germany), Bureau Veritas (France), Intertek (UK), TÜV NORD GROUP (Germany), North Central Electric (US), RN Electronics (UK), TÜV SÜD (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). These players adopted expansions, acquisitions, and agreements/partnerships/collaborations as their key growth strategies from 2015 to 2018, which helped them increase their capacities and cater to the widening customer base.
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Underwriters Laboratories (US) adopted the strategy of expansion to meet the rising demand from domestic and international markets. The company, in April 2017, established a wire & cable laboratory named ‘PT UL International Indonesia,’ in Jakarta, Indonesia. This expansion helped the company provide its services in Indonesia with a view to supporting the growing wire and cable industry. The long-term objective of this expansion is to use the lab as a platform to cover the entire ASEAN certification business as it grows in the future.
TÜV Rheinland, a German company, has been actively participating in market developments. The company has expanded its capacity and entered into various agreements and collaborations. In 2018, TÜV Rheinland and Shenzhen No. 3 Vocational School of Technology (China) signed a strategic cooperation framework agreement to build Sino-German Industry 4.0 Demonstration and Training Center. The center will benefit the development, upgradation, and transformation of Shenzhen’s industry, and support the Made in China 2025’ strategy. With this agreement, TÜV Rheinland is expected to increase its presence in China. Also, in 2017, TÜV Rheinland India, a subsidiary of the TÜV Rheinland, expanded its footprint in India with a new facility located in Bangalore. This facility includes several labs such as photovoltaic lab, material testing lab, electrical safety lab, medical lab, battery testing lab, softlines testing lab, and wireless IoT testing lab. With this expansion, the company expects to increase its presence in India and serve its customers efficiently.
Related Reports:
Cable Testing and Certification Market 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
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