According to a recent market study published by Growth Market Reports, titled, “Global Crosslinked Cables Market by Voltage, by Insulation Material Type, by Process Type, by End-Use, by Region: Size, Share, Trends and Opportunity Analysis, 2016-2031”, the market was valued at USD 18409.4 Million in 2022 and is expected to grow at a moderate growth rate of 5.9% by the year 2031.

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As per Growth Market Reports industry analyst Akash Vedpathak, “Global Crosslinked Cables Market is anticipated to witness significant growth during the forecast period 2023-2031. Crosslinked cables are electrical cables that have been treated with crosslinking processes to improve their performance and durability. Crosslinking is done using a variety of different methods, including chemical cross-linking, radiation-crosslinking, and dry-chemical crosslinking.

Key factors that are anticipated to fuel the demand for the global Crosslinked Cables market during the forecast period are rising demand for data centers, government regulations and initiatives, and growing automotive industry are driving factors of crosslinked cables. Conversely, high costs and availability of substitutes may hamper the market growth of the Crosslinked Cables market. Technological advancements and growing trend toward renewable energy create opportunities in the market.

The primary, as well as secondary research methodology, is used for keen observation and study about Crosslinked Cables market. The primary research methodology involves commercial agreements made with the primary respondents as well as consulting partners to extract critical information pertaining to the syndicated as well as consulting projects.

Primary interviews conducted with the stakeholders across industry verticals on regular intervals in line with the ongoing studies and to keep ourselves abreast with the latest market trends & developments. Validation of the estimated market size, current and future trends done from the key opinion leaders (KOLs). These KOLs are the CXO level people from leading companies in the industry and possess the experience of around 10-20 years in the industry.

On the other-hand the secondary research methodology involves exhaustive desk research undertaken to understand the prevailing market trends & dynamics, market competition, customer insights and other KPIs. Company websites, their SEC filings, annual reports, broker & financial reports and investor presentations are scanned for understanding the competitive scenario, details and developments, and the overall competitive landscape.

Regional government and statistical databases analyzed for macro & micro analysis. Research publications and paid data referred to obtain and validate the market estimations, budget, expenditure and other statistical insights.

Impact on Production: The production of electronics and semiconductors were halted, owing to the slowdown and unavailability of the workforce and raw materials and the implementation of lock downs across the globe. COVID-19 outbreak significantly dropped in manufacturing facilities utilization, and there was travel bans & facility closures that resulted in a massive decrease in workforce in the factories, which led to slowdown in the growth of the cables market in 2020.

Impact on Demand: Industries across the globe, such as automotive and aviation, have been experiencing a negative impact on their business. The spread of COVID-19 poses a significant threat to the global industry.

Emerging economies such as China and India are major countries for establishing new power plants, increasing focus on building smart infrastructure, and introducing advanced communication facilities, thereby stoking the uptake of wires and cables. The COVID-19 spread compelled China and India into a lockdown, resulting in disruptions across the supply chain and significant delays in a new installation in the offices and commercial applications, which has hampered the cable industry.

Recovery: The negative impact of COVID-19 on the market is expected to remain for a short period of time, and by early 2021, the market recovered rapidly due to the high demand for cables products post the pandemic.

Key Takeaways from the Study:

  • In terms of Voltage, the Medium Voltage segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

  • Based on Insulation Material Type, the XLPE (Cross-Linked Polyethylene) segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

  • Based on Process Type, the Chemical Crosslinking segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

  • In terms of End-Use, the Power segment accounted for a substantial share of the market in 2022 and is expected to expand at a substantial CAGR during the forecast period.

Crosslinked Cables Market Report Scope:

Report Metric

Details

Market Value in 2022

US$ 18409.4 Million

Market Growth Rate (from 2016 to 2031)

5.9%

Historical Data

2016-2021

Base Year

2022

Forecast Period

2023 – 2031

Units Considered

Value (USD Million)

Market Segments

By Voltage, by Insulation Material Type, by Process Type, by End-Use, By Region

Key Companies Profiled

Prysmian Group, NEXANS, LS Cable & System, Demirer Kablo, Hes Kablo A.Ş., Öznur Kablo, Borsan Kablo, Ünika Üniversal Kablo Sanayi ve Ticaret A.Ş., Caledonian Cables Ltd, Sartel Kablo, Vatan Kablo, KYM KABLO

Customization Scope

Report customization available on request

Pricing and Purchase Options

Avail tailor-made purchase options to meet your research requirements.

 

Target Audience:

  • Supply-side: Manufacturers, Raw Material Suppliers, and Distributors.

  • Demand Side: Government Agencies, Consulting Firms, Private Research and Development Firms, Equity Firms, and Investment Firms.