The overhead conductors market refers to the industry involved in the manufacturing and distribution of conductors used in overhead power transmission and distribution systems. Overhead conductors are used to transmit electricity from power generation plants to substations and from substations to end consumers.
Overhead Conductor Market size exceeded USD 665 million in 2022 and is projected to expand at more than 5% CAGR to 2032.
Key Factors Driving the Overhead Conductors Market:
- Increasing demand for electricity: The growing global population and industrialization have led to a significant increase in electricity consumption. This drives the need for efficient transmission and distribution systems, which in turn boosts the demand for overhead conductors.
- Expansion and modernization of power infrastructure: Many countries are investing in the expansion and modernization of their power infrastructure to meet the rising electricity demand. Upgrading existing transmission and distribution lines with higher-capacity conductors is a common strategy, thereby driving the market growth.
- Renewable energy integration: The integration of renewable energy sources, such as solar and wind, into the power grid requires the development of robust transmission networks. Overhead conductors play a crucial role in transmitting electricity generated from renewable sources over long distances.
- Favorable government policies: Governments worldwide are implementing favorable policies and incentives to encourage investments in the power sector, including transmission and distribution infrastructure. These policies stimulate market growth by creating a conducive environment for the deployment of overhead conductors.
- Technological advancements: Ongoing advancements in conductor materials, such as aluminum and composite conductors, are enhancing their efficiency, durability, and capacity to handle higher voltages. These technological innovations drive the market by offering improved performance and cost-effectiveness.
Key market trends include:
- Increasing adoption of high-temperature conductors: High-temperature conductors, such as aluminum conductor steel-reinforced (ACSR) and aluminum conductor composite core (ACCC) conductors, are gaining popularity due to their ability to handle higher loads and reduce transmission losses.
- Growing focus on transmission grid expansion: Governments and utilities are investing in expanding the transmission grid to enhance grid reliability and cater to the increasing electricity demand. This expansion requires the deployment of overhead conductors.
- Rising demand for undergrounding projects: In certain regions, there is a shift towards underground transmission and distribution systems to improve aesthetics and reduce environmental impacts. While this trend may impact the demand for overhead conductors in some areas, it is not expected to significantly hinder overall market growth.
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Market Segmentations:
Global Overhead Conductors Market: By Company
• Sumitomo
• ZTT
• APAR
• LAMIFIL
• Nexans
• Neccon
• General Cable
• CTC
• LUMPI BERNDORF
• Taihan
• 3M
• ZMS
• Midal
• Hindustan Urban Infrastructure
• Alfanar
• Prysmian
• CABCON
• Sterlite
• Coreal
• Versalec
• CAFCA
• Tropical Cable
• Gulf Cable
• KEI
• Riyadh Cables
• LS Cable
• Jeddah
• Diamond Power Infrastructure
• Southwire
• SWCC
Global Overhead Conductors Market: By Type
• Conventional Conductors
• High Temperature Conductors
Global Overhead Conductors Market: By Application
• Power Transmission
• Power Distribution
Global Overhead Conductors Market: Regional Analysis
All the regional segmentation has been studied based on recent and future trends, and the market is forecasted throughout the prediction period. The countries covered in the regional analysis of the Global Overhead Conductors market report are U.S., Canada, and Mexico in North America, Germany, France, U.K., Russia, Italy, Spain, Turkey, Netherlands, Switzerland, Belgium, and Rest of Europe in Europe, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, China, Japan, India, South Korea, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC), Saudi Arabia, U.A.E, South Africa, Egypt, Israel, Rest of Middle East and Africa (MEA) as a part of Middle East and Africa (MEA), and Argentina, Brazil, and Rest of South America as part of South America.
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