XLPE Cables Market Research Report - Global Forecast
to 2023
According to the study, global XLPE cable market
research report: forecast to 2023 presented by Market Research Future states
that the market is set to expand tremendously along with registering a CAGR of
6.43%.
XLPE
is used for cross-linking polyethylene cables having high-grade insulation
properties as well as have also shown excellent electric conductor
characteristics. Since power cables are known to be prone to hazards and
damage, they are more required with care while manufacturing.
The current electricity generation across the world is
witnessing an upward trend, especially from renewable energy sources. Since,
electricity generation points are very far from the areas of consumption, hence
the transportation of this electricity is done with the use of XLPE cables.
This is one of the critical drivers for XLPE cable market. As this decade is
shifting from non-renewable to a renewable form of energy usage, hence the
demand for these cables have significantly increased and pushing the XLPE cable
market with a confident pull.
While maintaining the safety concerns for XLPE cables,
the new ones are manufactured with a variety of materials such a Polyvinyl
chloride, polyethylene, polyurethane, nylon, ethylene propylene diene monomer,
thermoplastic elastomers, and many others. XLPE cables are ideal as insulating
material owing to its ability to hold a high capacity of short circuit current.
Since a time, XLPE cable has gained enormous significance in large transmission
networks due to the stability that these cables offer.
XLPE Cable Market Segmentation
In the reports of MRFR, the global XPLE cable market
has been segmented into installation, end-user, and region.
By mode of installation, the market has been segmented
as overhead, underground, and submarine cable.
By mode of voltage, the market has been segmented into
high, medium, and low. As global electricity demand is growing continuously,
there are high demands of distribution networks to provide reliable electricity
supply at affordable prices. Hence, rapid industrialization, increase in
renewable energy generation is expected to drive the market for medium voltage
cables market.
By mode of end-user, the market has been segmented as
power, oil & gas, chemical, manufacturing, metals & mining,
infrastructure & transportation, and others.
Regional Outlook
By regionally, the market of XLPE is segmented as
North America, Europe, Asia-Pacific, and the Middle East & Africa.
North America is backed with the electric power
industry, which generates energy that empowers the people and businesses in
global commerce. The American power grid network delivers electricity from
generated place to homes, businesses, and communities. U.S. is the largest
market in the American region for XLPE cable owing to providing electricity
from more than 950,000 MW to over 100 million customers.
Also, the technological and economic potential for
renewable energy to provide a growing share of clean, secure energy for North
America over the coming decades.
Leading Players
Some of the key players in the global XLPE Cable
market include Brugg Kabel AG (Switzerland), Sumitomo Electric Industries,
Ltd.(Japan), ABB Ltd(Switzerland), The Prysmian Group (Italy), General Cable
Corporation (U.S.), and Nexans S.A.( France). Encore Wire Corporation (U.S.),
NKT A/S (Denmark), Finolex Cables Ltd (India), Relemac Technologies Pvt. Ltd
(India), Laser Power & Infra Pvt. Ltd (India), KEI Industries Limited
(India), Universal Cables Ltd.(India), and Eland Cables (U.K.) are among
others.
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