XLPE Cables Market Share, New Tech Developments, Application, Driver | Global Industry Top Key Players, Growth Strategies and Forecast till 2023

XLPE Cables Market Overview:-

XLPE provides insulation to cables to make them withstand the electric field and transient operating conditions. The XLPE cable is the largest segment in the underground cable systems market due to investments in renewable sector and increasing power generation. All these factors are estimated to boost the growth of XLPE cables and accessories market. The global market is witnessing significant growth due to the increase in investments in offshore wind, grid interconnections, and increase in power generation. However, complex authorization procedures leading to delays, and volatile prices of raw materials are key restraints for the growth of the market.

Global XLPE Cable market is poised to grow over USD 18,659.5 million by 2023 at an estimated CAGR of 6.43% through the forecast period.

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Top 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.

XLPE Cable Market by End-Use:

In the report, the market has been divided into the end-use which includes: Power, Oil & Gas, Chemical, Manufacturing, Metals & Mining, Infrastructure & Transportation and others:

The oil and gas industry demands high performance of wire and cable products in harsh environments. Electrical cables used in Offshore Drilling Systems, Refinery Applications, Land Based Drilling Systems. These power cables are designed to offer a high level of operational reliability and to meet the challenges associated with applications that typically expose cables to ultraviolet light, oil, greases, chemicals, mechanical and thermal stresses, and salt-water submersion.

Chemicals industry requires cables that are not only flexible but are resistant to oils, fats, acids, bases and other harsh materials. These cables combine high radiation resistance and a very high insulation resistance over a broad temperature range such as 240°C (465°F). They also provide properties such as high pressure and moisture loaded environment.


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Market Research Future Analysis:

Market Research Future analysis states that the global market of XLPE Cable market is estimated to grow at USD 8,390.5 million by the end of year 2023. Increasing need of effective technology to reduce power outages and efficiency in electricity transmission & distribution is resulting in growing investment in renewable energy. These type of cables used in solar, wind, offshore to generate electricity. The global XLPE cable market witness tremendous growth due to increase in power demand and implementation of smart grid technology. Whereas, volatile prices of raw materials and complex planning and authorization processes leading to delays in projects, which act as a major restraining factor for the growth of the market. Globally, Asia-Pacific is expected to grow in the forecast period, and show tremendous growth in the renewable energy generation, across the globe The XLPE Cable market is growing in emerging countries such as China, India, and Japan, and is estimated to grow at a high rate in the forecast period.

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