Press release
XLPE Cable Market Expansion Activities By Top Key Players: The Prysmian Group (Italy), General Cable Corporation (U.S.), and Nexans S.A.( France). Encore Wire Corporation (U.S.), NKT A/S (Denmark)
Market - Overview
Increasing capital spending toward renewable sector, and better construction will further stimulate the business landscape. Increase usage of XLPE cables by governments, producer and manufacturers to improve efficiency is boosting the demand in the XLPE cable market. XPLE Cables Market is expected to register a high growth of around 6.43% CAGR in the forecasted period.
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Top Key Player:-
The prominent players in the XLPE Cable are 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.
Market Segmentation:-
Global XLPE Cable Market segmented into three major segments such as Installation, Voltage, End-User and region. Electric power can be transmitted or distributed either by overhead system, underground cable or Submarine cable. Increasing need of effective technology to reduce power outages and efficiency in electricity transmission & distribution result in the growth of the market. By application, it is classified into high, medium and low. Global electricity demand is growing continuously and thereby places high demands on power distribution networks to provide a reliable electricity supply at an affordable price. Increase in renewable energy generation and rapid industrialization and urbanization is expected to drive the market for medium voltage cables market. Moreover, by application, it includes power, oil & gas, Chemical, Manufacturing, Metal and mining, Infrastructure & Transportation. By geography it is segmented as North America, Europe, Asia-Pacific and the Middle East & Africa.
Regional Analysis:-
The global XLPE Cable market comprises Asia Pacific, North America, Europe, and the Middle East & Africa. The electric power industry is the backbone of America’s economic sectors, which generate energy that empower the people and businesses in global commerce. The American power grid network which delivers electricity from generated place to the homes, businesses, and communities, have almost 35 electric transmission interconnections between the Canadian and U.S. power systems for highly integrated grid. The North American transmission system, is a complex network of interconnected power lines and has evolved from last 100 years, delivering needed electricity from more than 950,000 MW of generating stations to well over 100 million customers.
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U.S. is the largest market in Americas region for XLPE Cable. The technological and economic potential for renewable energy to provide a growing share of clean, secure energy for North America over the coming decades, is very large. Current drivers are the growing use of less expensive natural gas for power generation, the depletion of coal and fuel oil for carbon reduction, uncertainty in the long-term role for nuclear generation, and rapid deployment of renewable energy technologies. Moreover, more robust, the cost-efficient systems are needed to generate, transmit, and distribute power over long distances to different areas.
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