Market Analysis
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.
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.
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%.
Top Impacting Factors Influencing Market
Growth
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.
Other advantages of XLPE cables are considered that
these cables can efficiently operate in harsh weather conditions making them
more suitable for long distance transmission. With this, the scenario of
increasing capital spending toward renewable sector coupled with better
construction of grids will further stimulate the business landscape. Also, an
increase in the usage of XLPE cables by government bodies, producer and
manufacturers to improve efficiency are boosting the demand in the XLPE cable
market rapidly.
XLPE cables, having better insulation value,
lightweight nature and better current capacity are high in demands owing to an
increase in investments in offshore wind, grid interconnections and increase in
power generation. These are some of the factors boosting the applications of
these cables and making XLPE cables market rise high in the future period.
Going forward, innovations made in the designing of XLPE cable’s insulating and
jacketing materials have positively impacted the market of XPLE cables. The key
players of the market have initiated to introduce various improvements;
however, complex procedures are leading to delays, and continuous fluctuation
of raw material prices are some of the factors that may hamper market growth.
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.
Of these, the oil and gas industry demands high
performance of wire and cable products in harsh environments. These power
cables are designed to offer high operational reliability that meets the
challenges that typically expose cables to ultraviolet light, oil, greases,
chemicals, mechanical and thermal stresses, and salt-water submersion.
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.
Key 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.
Related
Reports: http://www.24article.com/upstream-services-market-share-growth-industry-analysis-business-opportunities-and-latest-innovations-by-2023.html
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