The global XLPE cable market revenue is expected to expand at a significant CAGR over the forecast period. Increasing renewable energy production and growth in transmission and distribution network across the globe are among some of the primary factors expected to drive market growth over the forecast period.
The global XLPE cable market has been segmented on the basis of installation, voltage, end-use and region.
On the basis of installation, the market is segmented into overhead, underground and submarine cable. Underground segment accounts for the largest market size due to their high efficiency and low exposure to voltage drops.
On the basis of voltage, the market is segmented into high, medium, and low. Medium voltage segment is dominating owing to its wide end-use application such as different industries, renewable sectors, and infrastructure sectors.
By end-use, the market is segregated into power, oil & gas, chemical, manufacturing, metals & mining, infrastructure & transportation and others. The oil & gas segment is projected to grow mainly due to demand for offshore drilling systems, refinery applications, land based drilling systems.
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Based on the region the target market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Currently, Asia Pacific dominates the global market in terms of market revenue, owing to increasing investments in transmission and distribution (T&D) infrastructure, governments and other private producers focus develop new technology to increase the capacity of voltage transmission. Moreover, increasing demand for energy and renewable energy sources are likely to play an extremely important part in supporting the demand growth.
Key players operating in the global XLPE cable market include Brugg Kabel AG, Sumitomo Electric Industries, Ltd., ABB Ltd, The Prysmian Group, General Cable Corporation, Nexans S.A., Encore Wire Corporation, NKT A/S, Finolex Cables Ltd, Relemac Technologies Pvt. Ltd, Universal Cables Ltd., Eland Cables and others.
Recently in Dec 2017, Prysmian Group entered into a definitive merger agreement with General Cable Corporation.