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Electrical energy is the basic need today, and its demand is increasing all over the world. The world population is increasing, and electricity consumption per capita is rising due to the influence of technology in human life. Over the last decade countries have increased the production of electricity, which in turn has helped the cross-linked polyethylene cables market to grow.
Cross-linked polyethylene, which is commonly abbreviated PEX, XPE, or XLPE, is a form of polyethylene with cross-links. It is used chiefly in building services pipework systems, hydronic radiant heating and cooling systems, domestic water piping, and insulation for high tension (high voltage) electrical cables.
Based on the type, XLPE market can be segmented on the HDPE, LDPE, and others. Based on voltage, cross-linked polyethylene cable market is segmented in low voltage, medium voltage, and high voltage. On the basis of end-use, cross-linked polyethylene (XLPE) cables market is divided into utilities, oil and gas, chemical, manufacturing, metals & mining, infrastructure and communication, etc. The XLPE cables are used extensively for long-distance high voltage cables which can be used either in underground, overhead or submarine.
Key Market Driver -
Key Market Driver – Increase in demand for electricity
Key Market Restraint -
Key Market Restraint – Availability of alternative technology
The major market driver for the global cross-linked polyethylene (XLPE) cables market is the increasing demand for electricity. The per capita consumption of electricity is also increasing. All electrical circuits require the use of cross-linked polyethylene cables for safe and reliable operation. The increasing industrial and manufacturing activities is a boost for the XLPE market.
The key market restraint for the global cross-linked polyethylene cables market is the availability of alternative technology and also lack of awareness regarding XLPE. The cross-linked polyethylene (XLPE) cables are used to provide insulation to electrical conductors. PVC, ECTFE, nylon, etc. are some of the materials used for providing insulating cables.
Some of the major companies that are present in the cross-linked polyethylene (XLPE) cables market are NKT, Prysmian Group, BLS Polymers Ltd, Centurion Power Cables Pvt Ltd., Allied Wire & Cable, Inc., Wuxi Jiangnan Cable Co.,Ltd., Relemac Technologies Pvt. Ltd., China Excellent Source Co.,Limited, Dynamic Cables Private Limited, Ultracab (India) Limited, Universal Cable (M) Bhd., Cable Corporation of India Ltd., Xi'an Galaxy Rising Industrial Co.,Ltd. Nexans, and Bhuwal Insulation Cable Pvt Ltd.
The global cross-linked polyethylene (XLPE) cables market has now been spread into North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa. The Asia-Pacific region is expected to dominate the cross-linked polyethylene (XLPE) cables market. The high increase in the number of manufacturing and industrial units has boosted demand for cross-linked polyethylene cables. The increase in railways, metros, bullet trains, IT hubs, commercial centers, etc. require use of cross-linked polyethylene cables for stable and reliable electricity supply. Rural electrification initiatives and increase in long-distance high tension transmission power lines have positively impacted the cross-linked polyethylene cables market. Rapid urbanization has increased demand for electric conductors, which in-turn have increased demand for cross-linked polyethylene (XLPE) cables.
The increase in number of power generation plants and transmission has also increased sales of cross-linked polyethylene cables used for insulation. The African continent has the largest potential for growth of cross-linked polyethylene cables market, while Latin America has second-largest growth potential for cross linked polyethylene cables market. Just like Asia-Pacific region, Latin America and Africa will experience fast growth of cross-linked polyethylene (XLPE) cables market due to similar reasons and conditions. Europe and North America will experience a steady growth of cross-linked polyethylene cables market.
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The refurbishment, upgradation, and modernization of electrical infrastructure will these regions will spur growth of cross-linked polyethylene cables market. Several European nations are gradually phasing out conventional power generation sources and are building renewable power plants to fulfill the demand for electricity. These projects require use of cross linked polyethylene cables. The modern electrical infrastructure uses cross-linked polyethylene cables s for smooth operation. The offshore oil and gas facilities are directly provided power using the XLPE cables in Europe, North America, and MEA.
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