Overhead Conductors Market size worth over $1 Bn by 2032

Overhead Conductors Market size is set to surpass USD 1 billion by 2032, according to a new research report by Global Market Insights Inc.
 

Ongoing power grid modernization efforts, such as grid energy storage and smart grid R&D incorporating sophisticated technologies, are expected to positively influence the industry landscape. Additionally, a paradigm shift towards IT integration across the power sector is speculated to foster the implementation of smart grid technology, thereby complementing the business scenario. Furthermore, rising concerns about energy security and grid stability, as well as increased expenditures to construct a sustainable electrical network in response to increasing power demand.
 

Surging need for better transmission networks to enhance the others segment landscape

Overhead conductors market from the others product segment is slated to witness over 7% growth rate between 2023 and 2032. The ongoing expansion of long-distance transmission lines, as well as the deployment of superconducting cables on account of the increasing demand for improved transmission networks. In addition, prominent measures to modernize the grid infrastructure by installing novel conductors & control technologies are likely to drive the segment outlook.
 

Increasing deployment of advanced distributed generation technologies

The 132 kV to 220 kV overhead conductors market is anticipated to depict more than 4% CAGR through 2032. The report cites that the implementation of advanced distributed generation technologies, coupled with growing renewable integration, are some major factors promoting segment expansion. Furthermore, the emerging issues of managing and controlling random power outages produced by the proliferating usage of solar power across developed and underdeveloped countries are estimated to stimulate product demand.
 

Prevalent need for long-distance electrical transmission with minimal loss to favor the ultra-high strength segment

The ultra-high strength segment is predicted to observe 5% gains till 2032. Long-distance overhead conductors need to be extremely strong owing to the product's high thermal resistance, thermal sag, and other sag produced by different load conditions, including ice loading and intense wind. These conductors find extensive usage on account of their ability to bear loads up to 150 kN, enabling efficient long-distance electrical transmission with minimal loss.
 

Increasing deployment of superconducting cables to boost HVDC segment expansion

HVDC overhead conductors market recorded nearly USD 100 million in 2022. Rising ongoing expansion of long-distance transmission lines, as well as the deployment of superconducting cables, is set to impel segment uptake due to the growing need for upgraded transmission networks. Additionally, the lightweight design, low maintenance & handling costs, and high-power transmission capacity of HVDC are forecast to spur product demand.
 

Browse key industry insights spread across 820 pages with 2130 market data tables & 46 figures & charts from the report, “Overhead Conductor Market Size By Product (Conventional {ACSR, AAAC, ACAR, AACSR, AAC}, High Temperature {Tal, ZTAl}, Others {ACFR, ACCR, ACCC, CRAC, Gap Conductors}), By Voltage (132 kV to 220 kV, 221 kV to 660 kV, >660 kV), By Rated Strength (High Strength, Extra High Strength, Ultra-High Strength), By Current (HVAC, HVDC), By Application (High Tension, Extra High Tension, Ultra-High Tension), COVID- 19 Impact Analysis, Regional Outlook, Application Potential, Covid-19 Impact Analysis, Competitive Market Share & Forecast, 2023 – 2032”, in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/overhead-conductor-market
 

Rising investments for commissioning wind farms to supplement extra high tension segment development

Based on application, the extra high tension segment accounted for more than 37% of the overhead conductors market share in 2022. Rising investments in the commissioning of wind farms and solar power plants, as well as the rising demand for sustainable energy, are estimated to propel segment growth. Furthermore, rapid product deployment driven by the excessive usage of power across emerging nations, coupled with positive governmental interventions for product deployment in transmission-connecting countries.
 

Soaring demand for uninterrupted power supply across APAC

Asia Pacific overhead conductors industry size crossed over USD 300 million in 2022. This growth is credited to the rising need for uninterrupted power supply, along with escalating electricity consumption and grid connections across remote locations. In addition, shifting power consumption patterns in conjunction with increasing investments towards the development of the current power capacity are speculated to accelerate revenue growth.
 

Strategic acquisitions to define the competitive landscape

Key participants operating in the overhead conductors market are Sumitomo Electric Industries, Ltd., 3M, Gupta Power, Nexans, ZMS Cable, Hindustan Urban Infrastructure Limited, Prysmian Group, CABCON INDIA LIMITED, Sterlite Power, Tropical Cable & Conductor Ltd. (TCCL), Galaxy Transmissions Pvt. Ltd.