Press release
XLPE Cable Market is expected to grow at USD 18,659.5 million by end of year 2023: Prominent Players are Brugg Kabel AG (Switzerland), Sumitomo Electric Industries, Ltd.(Japan), ABB Ltd(Switzerland), The Prysmian Group (Italy), General Cable Corporation (
XLPE Cables Market Forecast to 2023
Recently, cross-linked polyethylene (XLPE) material is used as insulation material in high voltage AC and DC cables. With the advancement in polymer technology, it has become essential to identify a material for cable insulation with high strength, safe transmission with less power loss and with good mechanical strength. This cables are manufactured in highly quality conscious environment with testing and inspection from raw material to finished cable stage. They are typically used in power transmission & distribution. Increase in need of effective technology to reduce power outages and efficiency in electricity transmission & distribution is resulting in the growth of the XLPE cable 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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Taste the market data and market information presented through more than 63 market data tables and 23 figures spread over 103 numbers of pages of the project report. Avail the in-depth table of content TOC & market synopsis on “The Global XLPE Cable Report -Forecast to 2023”.
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 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.
China has become the world’s biggest wind and solar power user, but a significant amount of renewable power has been unable to reach the grid because transmission capabilities are lagging generating capacity. Recent trends show that the government has to push for renewable energy. The country shows highest renewable energy growth rates and the highest wind and solar capacity. According to state council of China, west-to-east ultra-high voltage direct current (UHV DC) power transmission project is running smoothly in China, having transmitted over 100 billion kilowatt-hours of clean electricity. According to the latest news, China has the highest voltage and altitude transmission line with a 1100 kV ultra-high voltage.
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