Overhead Conductor Market
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The global overhead conductor market size was valued at USD 563.7 million in 2023 and will grow at rate of 7.5% from 2024 to 2032. Incorporating renewable energy sources into national grids such as wind and solar power is driving the need for state-of-the-art transmission solutions. Also, the need for high-capacity overhead conductors that integrate with the grid infrastructure boosts the market.
Furthermore, considerable improvements in infrastructure have been experienced especially in developing regions. For instance, the State Grid Corporation of China (SGCC) in June 2024 approved an investment of USD 3.9 billion for a power transmission and storage project meant to improve the energy infrastructure within the country. Also, the modernization of power transmission to the smart grids systems, the construction of power distribution and transmission facilities contributes to this growth.
| Report Attribute | Details |
|---|---|
| Base Year: | 2023 |
| Overhead Conductor Market Size in 2023: | USD 563.7 Million |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2023 - 2032 CAGR: | 7.5 |
| 2023 Value Projection: | USD 1.12 Billion |
| Historical Data for: | 2021 to 2023 |
| No of Pages: | 100 |
| Tables, Charts & Figures: | 12 |
| Segments Covered: | Product, Voltage, Rated Strength, Current, Application, & Region |
| Growth Drivers: |
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| Pitfalls Challenges: |
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The future forecasts indicate that there will be further growth owing to the investment into power infrastructure, the incorporation of renewable energy sources and the upgrading of electricity systems. The launch of new technologies such as green overhead wire and high temperature overhead wire will also help in anticipating market. Rapid industrialization, increased electricity demand, and increased spending in countries electrification are also contributing factors. Several nations in the Asia Pacific region including China, and India are updating grid efficiency and electrifying rural areas.
The conventional overhead conductor is projected to exceed over USD 646 million by 2032. Its adoption is stimulated by the product’s satisfactory mechanical properties and sag behaviour. Moreover, the conventional overhead conductor is expected to witness moderate growth on account of the continuous funding of power infrastructure, grid modernization initiatives and the use of renewable energy technologies being on the rise.
The > 220 KVM to 660 KVM voltage overhead conductor market is expected to grow at a rate of over 6.2% through 2032. The growth of the business will be aided by a surge in electricity needs from industrial operations and the increasing erection of extra high-tension electricity transmission grids for the mining, oil, and gas industries. Further, rapidly growing retrofitting and refurbishment of obsolete and ageing electricity transmission networks in North America and Europe are likely to further boost this industry growth.
The Asia Pacific overhead conductor market is set to reach USD 625 million by 2032. The power consumption trends of corporations and households across the region further up the growth pace. Countries such as India, China and Indonesia will show growth in their economies boosting the growth pace even greater.
In the US, there seems to be a surge in the demand for new transmission networks which is boosting the economy. The power distribution and transmission remain slightly unbalanced but the requirements of U.S. have increased for more expansion and upgrades. The transmission links that need to be added across the region will be done keeping in mind the growing load demand.
CTC Global Corporation, Nexans, Prysmian Group, Sterlite Power, ZTT, Bekart, Lamifil among others are the major participants in the overhead conductor industry who understand that with growing competition in the market, innovation, forming strategic partnerships and investing in new transmission projects will be the solution.
Some of the key players operating across the overhead conductor industry are:
Market, By Product
Market, By Voltage
Market, By Rated Strength
Market, By Current
Market, By Application
The above information has been provided for the following region & countries:
Asia Pacific overhead conductor market is anticipated to exceed USD 625 million by 2032, owing to increasing investments in upgrading & expansion of electric infrastructure and power capacities.
The conventional segment in the overhead conductor market is anticipated to surpass USD 646 million by 2032, due to ongoing investments in power infrastructure.
The market size of overhead conductor was reached USD 563.7 million in 2023 and will grow at 7.5% CAGR from 2024 to 2032, owing to the increasing peak load demand.
Alcon Marepha, APAR, Bekaert, CABCON INDIA LIMITED, CMI Limited, CTC Global Corporation, Eland Cables, Elsewedy Electric, Gulf Cable & Electrical Industries Co, and Gupta Power among others.