XLPE Cables Market Synopsis:
XLPE Cables Market is expected to be valued at USD 49.1 Billion, with a CAGR of 7% Forecast by 2030.
As per the research by Market Research Future Reports (MRFR), the global XLPE cables market 2030 is majorly driven by the rising share of renewable energy in the power generation mix. Due to the rising population, global electricity demand is likely to rise exponentially. Besides, rapid urbanization increased access to electricity, and the increasing infrastructure activities have also aided in the expansion of the market. Moreover, the growing concern towards protecting the environment has led to the rising awareness of renewable resources, which directly augments the market. In addition, several nations across the globe, such as India, the US, Germany, the UAE, and Saudi Arabia, have set aims to grow the generation capacity of renewable energy generation sources to add to the share of renewable energy in the power generation mix.
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CAGR
7% CAGR (2022-2030)
Base Year
2021
Forecast Period
2022-2030
Historical Data
2019 & 2020
Forecast Units
Value (USD Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Installation, Voltage, End User
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Market Segmentation
The global XLPE cables market can be segregated on the basis of voltage, installation, end-user, and the region.
- On the basis of voltage, the global XLPE cables market can be segregated into high voltage, medium voltage, and low voltage.
- On the basis of installation, the global XLPE cables market can be segregated into underground, overhead, and submarine
- On the basis of end-user, the global XLPE cables market can be segregated into chemical, power, oil & gas, manufacturing, infrastructure & transportation, metals & mining, and others.
- On the basis of region, the global XLPE cables market can be segregated into Europe, the Middle East & Africa, Asia-Pacific, and the Americas.
Regional Analysis
The geographical analysis of Europe, the Middle East & Africa, Asia-Pacific, and the Americas have been conducted. As per the analysis by Market Research Future Reports (MRFR), the APAC region is likely to acquire the largest market share during the forecast period. The market of the APAC region is excelling due to the increasing investment in the oil & gas industry and the advancements in the existing oil fields. Moreover, the increasing technological developments, the fast development of infrastructure, and the growing oil exploration in the region are likely to expand the market in the region. These are the estimated factors propelling the market in the region during the forecast period. In the region, China plays a significant role.
On the other hand, the other regions like North America also contribute significantly to the expansion of the market. The US, along with other countries like France and China, is mainly concentrating on growing the offshore wind energy share. The usage of XLPE cables is estimated to grow the supply of electricity in the oil & gas and power industries. Other countries like the UAE have taken several initiatives to expand the market. The UAE government launched Energy Strategy 2050 to encourage the usage of renewable energy in the country. Such initiatives have a direct impact on the expansion of the market.
Key Players
The forefront players of the global XLPE Cable Market are Nexans (France), Prysmian Group (Italy), NKT A/S (Denmark), Sumitomo Electric Industries, Ltd. (Japan), KEI Industries Limited (India), Universal Cables Ltd. (India), Brugg Kabel AG (Switzerland), Finolex Cables Ltd. (India), Encore Wire Corporation (US), Relemac (India), Eland Cables (UK), and Laser Power & Infra (India).
Due to the sudden outbreak of novel coronavirus, there has been an immense change in the market dynamics. Several regions have been affected due to the pandemic. We will provide COVID-19 impact analysis with the report.
However, due to the outbreak of pandemic coronavirus, several regions have been adversely affected. The dynamics of the market are changed significantly due to the observation of worldwide lockdown.
XLPE Cables Market - OverviewAccording 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.
Since a time, XLPE cable has gained enormous significance in large transmission networks due to the stability that these cables offer.XLPE Cable Market SegmentationIn 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.Get Free Sample Copy @ https://www.marketresearchfuture.com/sample_request/1750Regional OutlookBy 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.
XLPE Market report published by Value Market Research, which studies the future outlook of the market.
It includes the size, share, growth, trends, key players, segments and regional analysis in detail during the study year 2020-2027.The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide.
The major players in the xlpe market include Dow, Nouryon, Borealis AG, LyondellBasell Industries Holdings B.V., PolyOne Corporation, Solvay, Exxon Mobil Corporation, Falcone Specialities AG, HDC Hyundai EP Company.
This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.Get more information on "Global XLPE Market Research Report" by requesting FREE Sample Copy at https://www.valuemarketresearch.com/contact/xlpe-market/download-sampleMarket DynamicsThe increasing demand for piping systems that can withstand the electrical, environmental, and mechanical stress encountered in industries like natural gas, offshore oil applications, chemical transportation, and transportation of sewage and slurries will be crucial for the market growth.
The superficial mechanical properties of XLPE insulated cables make it a popular choice among miners since it is economical during installation.
It is a time-saver and is easy to maintain the piping systems or networks.
