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Semiconductors & Electronics Icon

XLPE MV Onshore Cables Market – Trends Forecast Till 2030

XLPE MV Onshore Cables Market by Product Type, Voltage Rating (1 kV to 15 kV and 15 kV to 35 kV), Application, End-User, and region (North America, Europe, Asia-Pacific, Middle East, Africa, and South America).

  • Published Date : May 2023
  • Base Year Estimate : 2022
  • Report ID : D-SE-XLPEMVOCM-1335
  • Format :
  • Number of Pages : 560
  • Domain : Semiconductors & Electronics
  1. Semiconductors & Electronics
  2. XLPE MV Onshore Cables Market – Trends Forecast Till 2030
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REPORT SYNOPSIS
Market Snapshot Market Overview Delvens Industry Expert's Standpoint Market Portfolio Key Findings Regional Analysis Competitive Landscape Recent Developments Reasons to Acquire Report Scope
Table Of Content Frequently Asked Questions

Market Snapshot

Market Overview

The global XLPE MV Onshore Cables Market size is expected to reach USD 49.1 million and is projected to reach a CAGR of 6.8% from 2023-2030.

The manufacturing, distribution, and retail of medium voltage power cables with XLPE insulation particularly created for onshore purposes are referred to as the XLPE MV (medium voltage) onshore cables market. In medium voltage power networks, which generally range from 1 kV (kilovolt) to 35 kV, these cables are used to transfer energy.

A common choice for medium voltage cables is XLPE insulation because of its superior electrical characteristics, thermal resistance, and mechanical robustness. Power distribution networks, renewable energy projects, industrial installations, infrastructure projects, and other onshore applications are just a few examples of the many onshore uses that it is appropriate for since it offers dependable and effective power transmission. In recent years, the need for XLPE MV onshore cables has grown significantly, propelled by reasons such as rising power consumption, infrastructure expansion, integration of renewable energy sources, and industrialization. The market's rise has also been aided by the increased emphasis on energy efficiency and the move towards greener energy sources.

Cable producers, suppliers, distributors, and contractors are important market participants in the XLPE MV onshore cables sector. To satisfy the needs of varied projects, these businesses provide a wide range of cable products, including single-core and multi-core cables, armored and unarmoured cables, and various voltage ratings and conductor diameters. The XLPE MV onshore cables market is affected by market characteristics, including pricing trends, technical developments, regulatory frameworks, and competitive environment. Additionally, elements like raw material accessibility, production procedures, and quality standards are crucial in defining the general market dynamics.

The XLPE MV Onshore Cables market size has grown significantly in recent years. However, due to the outbreak of the COVID-19 pandemic, Due to lockdown procedures, travel restrictions, and decreased manufacturing capacity, the pandemic caused disruptions in international supply networks. These setbacks delayed production and delivery because they reduced the supply of raw materials and other components needed for the manufacture of cables. Due to limitations and economic uncertainty, several infrastructure and building projects were postponed or delayed during the epidemic. Reduced demand for XLPE MV onshore cables was the result of the fall in construction activities, notably in industries like industrial facilities, residential complexes, and commercial structures. Energy demand patterns were significantly disrupted by the COVID-19 epidemic. There was a reduction in total energy usage in several industries, such as transportation and tourism, as a result of lockdowns and travel restrictions. The demand for the XLPE MV onshore cables used in power transmission and distribution systems was indirectly impacted by this change in energy consumption.

 

Delvens Industry Expert's Standpoint

The market for XLPE MV onshore cables is expected to expand due to the rising use of renewable energy sources, grid modernization programs, infrastructure developments, and technical improvements. Significant prospects will exist in the market across continents like North America, Europe, and Asia Pacific. The market's major players are probably going to concentrate on increasing their production capabilities, spending money on R&D, and bolstering their market presence through strategic alliances and acquisitions. The future market development will also be significantly influenced by sustainability and environmental concerns, with an increasing focus on environmentally friendly cable options. Stakeholders must keep up with market trends, track legislative changes, and modify their strategy to match shifting consumer needs if they are to effectively traverse the market's dynamic environment. Businesses may put themselves in a successful position in the competitive XLPE MV onshore cables market by using market possibilities and adopting technology improvements.

 

Market Portfolio

Key Findings

  • The product type segment is further segmented into Single-Core Cables and Multi-Core Cables. Both single-core and multi-core XLPE MV onshore cables are widely used in different applications. The market for single-core cables is driven by their ease of installation, while multi-core cables are preferred when multiple circuits need to be installed. The growth of each segment depends on the specific project requirements and industry preferences.
  • The voltage rating segment is further fragmented into 1 kV to 15 kV and 15 kV to 35 kV. The market growth varies based on the voltage rating of XLPE MV onshore cables. The demand for cables in the 1 kV to 15 kV range is driven by power distribution networks and commercial/residential applications. The 15 kV to 35 kV segment experiences growth due to renewable energy projects, industrial installations, and infrastructure development.
     
  • The application segment is further segmented into Power Distribution Networks, Renewable Energy Projects, Industrial Installations, Infrastructure, and Others. Power distribution networks represent a significant application segment for XLPE MV onshore cables, supported by the need for efficient and reliable electricity transmission. The growing focus on renewable energy integration also drives the demand for cables in renewable energy projects. Industrial installations and infrastructure development further contribute to market growth.
     
  • The end-user segment is further fragmented into Utilities, Commercial & Residential, Industrial, and Others. Utilities, including power generation and distribution companies, are major consumers of XLPE MV onshore cables. Commercial and residential sectors require cables for building electrification. The industrial sector demands cables for various applications in sectors such as oil and gas, manufacturing, and mining. Other end-users, such as infrastructure projects, contribute to the overall market growth.
     
  • The market is also divided into various regions such as North America, Europe, Asia-Pacific, South America, and Middle East and Africa. North America has a well-established power infrastructure and is witnessing increasing investments in renewable energy projects. The demand for XLPE MV onshore cables in this region is driven by power grid upgrades, grid modernization initiatives, and the integration of renewable energy sources. The United States and Canada are the major contributors to market growth in this region.

 

Regional Analysis

North America to Dominate the Market

  • The North American region is expected to be the largest region in the XLPE MV Onshore Cables market during the forecast period.
     
  • Due to its concentration on the production of renewable energy, grid connection, and the availability of well-established power transmission and distribution networks, Europe has also been an important market for XLPE MV onshore cables.

 

Competitive Landscape

  • Prysmian Group
  • Nexans S.A.
  • NKT A/S
  • General Cable Corporation
  • Sumitomo Electric Industries, Ltd.
  • LS Cable & System Ltd.
  • Furukawa Electric Co., Ltd.
  • Southwire Company, LLC
  • Hengtong Group
  • Riyadh Cables Group of Companies