New York, May 29, 2023 (GLOBE NEWSWIRE) -- According to a Comprehensive Report by MRFR/Market Research Future (MRFR), “XLPE Cable Market Information By Installation, Voltage, End User, and Region - Forecast till 2030", The XLPE Cable Market can expand at a rate of 7% between 2022 and 2030, while touching USD 49,100.0 Million by 2030.
XLPE Cable Market Overview
Today, electrical energy is a basic requirement, and its demand is rising globally. Due to technology's influence on daily life, the world's population is growing and per capita electricity consumption is increasing. Countries have boosted their energy generation over the past ten years, which has aided in the expansion of the cross-linked polyethylene cables industry.
Cross-linked polyethylene is a kind of polyethylene that has cross-links and is frequently referred to by the acronyms PEX, XPE, or XLPE. It is mostly utilized as insulation for high tension (high voltage) electrical wires, hydronic radiant heating and cooling systems, household water piping, and building services pipework systems.
Market Competitive Landscape:
The affluent payers in the market for XLPE cables are
- KEI Industries Limited (India)
- NKT A/S (Denmark)
- Universal Cables Ltd. (India)
- Nexans (France)
- Brugg Kabel AG (Switzerland)
- Encore Wire Corporation (US)
- Laser Power & Infra (India)
- Sumitomo Electric Industries Ltd. (Japan)
- Eland Cables (UK)
- Relemac (India)
- Finolex Cables Ltd. (India)
- Prysmian Group (Italy)
- Among others.
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XLPE Cable Market Segmentation
By Installation
Overhead, Underground and Submarine are the installation-based segments covered in the study.
By Voltage
High Voltage, Medium Voltage, as well as Low Voltage, are the key segments.
By End-User
Power, Oil & Gas, Chemical, Manufacturing, Metals & Mining, Infrastructure & Transportation and
Others are the top industry end-users.
Report Scope:
| Report Metrics | Details |
| Market Size 2030 | 2030: USD 49,100.0 Million |
| CAGR during 2022-2030 | 7% CAGR |
| Base Year | 2021 |
| Forecast | 2022-2030 |
| Report Coverage | Revenue Forecast, Competitive Landscape, Growth Factors, and Trends |
| Segments Covered | Installation, Voltage, End User |
| Key Market Opportunities | Growing Demand For Intercountry Power Connections |
| Key Market Drivers | Increasing Share Of Renewable Energy In Power Generation Increasing Demand In Offshore Power Generation |
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XLPE Cable Market USP Covered:
Market Drivers:
The market for XLPE cables is expanding quickly as a result of the persistently rising demand. Marine facilities frequently use XLPE wires. Commissioning cable laying vessels uses a significant number of XDPE cables for offshore cable operations. The expansion of the XLPE cable market is primarily driven by the rising demand for an uninterrupted and dependable power supply for submarine applications. The market is anticipated to gain substantial traction over the coming years as cross-linked polyethylene (XLPE) cables are increasingly installed in oil-filled transition joints that connect oil-filled cables.
To preserve their market positions and acquire a competitive advantage, market participants employ a variety of strategic measures, including partnerships, mergers and acquisitions, expansion, and product releases. In order to support its R&D efforts and growth ambitions, they also make strategic investments. Aware of current market potential, XLPE cable producers heavily engage in the creation of novel products and increase the productivity of their present product lines. They are creating partnerships with significant investors and financiers involved in the refinancing. Therefore, it is anticipated that the sum of these variables will increase the size of the XLPE cable market.
To cite a reference, in January 2023, new Epic speaker linkages, which provide a speaker terminal upgrade path, were introduced by Chord Company (the UK), a renowned maker of cables used in hi-fi and home theatre systems. High-quality speaker terminal link cables known as "Epic speaker links" were created to replace the free-pressed metal plates that come with the majority of dual-input-terminal loudspeakers. The new Epic speaker connections benefit from XLPE insulation, individually shielded silver-plated connectors, and a high-density foil with a 95% coverage braid. They are hand-built utilizing the company's well-liked EpicXL loudspeaker cables. The high-performance dielectric XLPE is combined with parts of the EpicXL cable.
Additionally, emerging nations provide large prospects for foreign firms, which significantly increases market demand. The XLPE business is growing as a result of government initiatives for infrastructure and electricity development.
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Market Restraints:
The presence of alternative technology and a lack of knowledge about XLPE are the main market inhibitors for the worldwide cross-linked polyethylene cables market. The cables made of cross-linked polyethylene (XLPE) are used to insulate electrical conductors. Some of the materials utilised to provide insulating cables are PVC, ECTFE, nylon, etc.
XLPE Cable Market COVID 19 Analysis
The governments of the majority of the countries have implemented precautionary measures due to the rapid spread of the coronavirus, including partial or total lockdowns, which have caused the closure of schools, colleges, institutions, and offices as well as a halt to all business operations aside from those for essential goods and services. People are confined to their homes as a result of the shutdown. The expansion of the market has also been impacted by the increase in domestic electricity consumption brought on by people working from home and students taking classes online. But because of the lockdowns, there has been a considerable fall in the demand for power from the commercial and industrial sectors, which is having an effect on the XLPE market. This decline in demand is due to the reduction in industrialisation as well as commercial operations.
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XLPE Cable Market Regional Insights
The market for XLPE cable is dominated by Asia-Pacific. The region's XLPE cable market is anticipated to be driven by rising oil and gas sector investments as well as the expansion of current oil fields. The world's most populous nation, China, also has the fastest-growing economy, which causes the demand for oil and gas to rise quickly. The public sector's large investments in the oil and gas sector fuel the nation's demand for XLPE cables. According to the March 2019 edition of the World Oil Magazine, China's oil producers PetroChina, Sinopec, and China National Offshore Oil Corp. (CNOOC) planned to invest USD 77 billion in the same month to boost production from the country's current oil fields. As a result, the expanding investments in China's oil and gas sector are anticipated to enhance demand for XLPE cables and propel the country's XLPE cable market upward.
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