XLPE Cables Market Synopsis:
Global industry is expected to grow faster than ever before due to new technologies and various key industry players choosing multiple business tactics to expand globally by 2030.
Government policies and various regulations are playing vital role in this industry. Regional market growth is outstanding post pandemic. Some drivers and trends are helping the industry to grow at a high CAGR during forecast period 2023-2030.
XLPE Cables Market is expected to be valued at USD 49.1 Billion, with a CAGR of 7% Forecast by 2030.
Our Market Overview and Regional Analysis provide an understanding of the industries, companies and products within the market. Our Trends section provides an analysis of how the market is currently performing and looks set to perform in the future. Our Growth Forecast section gives you an idea about how our Market Analysis works, by giving us further details on how we can build our Market Forecast model for a particular domain within this report. Lastly, in our Metrics section we outline important data points relating to each of these sections as well as our current forecasted price range.
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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.
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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).
