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Conventional Overhead Conductor Market Size
- Report ID: GMI6613
- Published Date: Sep 2023
- Report Format: PDF
Conventional Overhead Conductor Market Size
Conventional Overhead Conductor Market size was valued at USD 399.4 million in 2022 and is set to grow at over 4.5% CAGR from 2023 to 2032, due to the refurbishment and replacement of aging grid infrastructure with new transmission lines. The installation of high-tension lines over longer distances is on the rise, further boosting the industry trend.
In addition, the growing emphasis on deploying high-strength transmission lines is driven by concerns surrounding the transformation of aging energy infrastructure into a more secure, clean, and dependable energy resource. This concerted effort to modernize and fortify the energy grid is set to greatly benefit the industry in the foreseeable future.
| Report Attribute | Details |
|---|---|
| Base Year: | 2022 |
| Conventional Overhead Conductor Market Size in 2022: | USD 399.4 Million |
| Forecast Period: | 2023 to 2032 |
| Forecast Period 2023 to 2032 CAGR: | 4.5% |
| 2032 Value Projection: | USD 652.4 Million |
| Historical Data for: | 2019 to 2022 |
| No. of Pages: | 580 |
| Tables, Charts & Figures: | 780 |
| Segments covered: | Product, Voltage, Application, and Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Continuing initiatives focused on modernizing the power grid, encompassing grid energy storage, research and development in smart grid technologies, and the integration of advanced solutions, are shaping a competitive industrial landscape. In addition, a notable shift toward the integration of information technology throughout the electricity sector is poised to support the implementation of smart grid infrastructure, thus enhancing the overall conventional overhead conductors market size.
Elevated concerns pertaining to energy security and grid stability, coupled with escalating investments aimed at establishing sustainable electrical networks in response to surging electricity demand, are set to strengthen the industry's prospects. In addition, the exponential surge in energy demand, driven by a thriving industrial sector, particularly in developing nations, will further propel the expansion of high-voltage grid networks.
The conventional overhead conductors are expected to maintain their dominance due to their product attributes such as high current carrying capacity, sag resistance, and surface treatments utilizing materials like aluminum and steel. These characteristics enable the efficient transmission of electricity over long distances with minimal energy losses. Furthermore, the capacity of these products to reliably deliver electricity while also providing faster service and reducing the frequency of power outages is poised to drive their widespread adoption.
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Conventional Overhead Conductor Market Scope
