XLPE Cables Market Increasing Demand and Register a High Growth at a CAGR of 6.43% By 2023

Pune, India, May 2019, MRFR Press Release/- Market Research Future has Published a Half-Cooked Research Report on the Global XLPE Cables Market.

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.Browse Full Report Details @ https://www.marketresearchfuture.com/reports/xlpe-cables-market-1750

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.

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.

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.

Industry News

• 2015: Nexans started offering 150 kV single core cross-linked polyethylene (XLPE) underground 3-phase cable system to connect the substations for JFK & Storstrommen Project.

• Dec 2017: Prysmian Group entered into a definitive merger agreement with General Cable Corporation.