USD 0.66 billion
Overhead Conductor Market Size, Share, Growth Analysis, By Conductor(Pure Copper Conductors, All Aluminum Conductors (AAC), All Aluminum Alloy Conductors (AAAC), Aluminum Conductors Steel-reinforced (ACSR)), By Application(Power Distribution and Railways), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG45O2033 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
64
|Figures:
75
Overhead Conductor Market Insights
Global Overhead Conductor Market size was valued at USD 0.66 billion in 2022 and is poised to grow from USD 0.69 billion in 2023 to USD 1.02 billion by 2031, at a CAGR of 5% during the forecast period (2024-2031).
Growing world population has resulted in a high energy demand and this is forecasted to augment demand for overhead conductors in the future. Rapid urbanization and industrialization also play a significant role in driving up overhead conductor sales. Increasing reliance on electricity in different walks of life is creating an attractive business scope for overhead conductor providers.
Rising investments in the development of reliable energy generation and transmission infrastructure to accommodate renewable energy sources are predicted to create new opportunities for overhead conductor companies in the long run. Growing use of electric vehicles and trains around the world is slated to favor overhead conductor sales going forward.
High demand for superconductors, increasing investments in energy transmission infrastructure, and modernization of aging electrical infrastructure are other market trends that could bolster sales of overhead conductors in the future. Advancements in conductor material space are also estimated to be noteworthy contributors to market growth over the coming years.
Minimization of transmission losses and high government spending on utilities and grid modernization projects could also change the growth trajectory of the overhead conductor marketplace. However, high initial costs and technical challenges are projected to impede overhead conductor market growth to a certain extent going forward.
Market Snapshot - 2024-2031
Global Market Size
Largest Segment
Electric Utilities
Fastest Growth
Infrastructure and Construction
Growth Rate
5% CAGR
Global Overhead Conductor Market by region
Country Share for North America(%)
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Overhead Conductor Market Segmental Analysis
The global overhead conductor market can be segmented based on conductor, application, and region. Based on conductor type, the market is segmented into Pure Copper Conductors, All Aluminum Conductors (AAC), All Aluminum Alloy Conductors (AAAC), Aluminum Conductors Steel-reinforced (ACSR), Aluminum Conductors Alloy-reinforced (ACAR), and Others. Based on application, the market is segmented into power distribution and railways. In terms of region, the market is segmented into regions such as North America, Europe, Asia-Pacific, Middle East and Africa, and Latin America.
Analysis By Conductor
Aluminum Conductors Steel-reinforced (ACSR) account for a prominent market share owing to their extensive use in power distribution networks around the world. These types of conductors combine the conductivity and strength properties of aluminum and steel respectively to give users the best of both worlds.
Aluminum Conductors Alloy-reinforced (ACAR) are projected to witness a rapid hike in demand as they are more efficient and suitable for renewable energy applications. Use of specific alloys in these types of conductors allows users to reduce line losses and improve the overall efficiency of the grid without having to change the existing infrastructure much.
Analysis By Application
The power distribution application holds a prominent market share and is also projected to be the fastest-growing application for overhead conductors over the coming years. Growing demand for electricity all over the world is projected to primarily augment demand for overhead conductors in the future. The world is shifting towards renewable energy sources for their energy needs and this calls for upgradation of the current power transmission and distribution infrastructure, which in turn, is slated to benefit overhead conductor sales.
High investments in infrastructure development and expansion of railway networks around the world are also forecasted to create new opportunities for overhead conductor companies across the forecast period. Overhead conductors are essential in providing energy to any kind of infrastructure and hence infrastructure development will directly favor overhead conductor market growth in the long run.
Global Overhead Conductor Market by Application
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Overhead Conductor Market Regional Insights
North America and Europe are projected to be opportune regions for overhead conductor vendors owing to high investments in grid modernization and grid expansion. The United States, Germany, the United Kingdom, and Canada are forecasted to be key markets in these regions going forward. Increasing focus on sustainability in these regions will boost demand for overhead conductors for renewable energy applications in the long run.
Rapid urbanization and industrialization are projected to be the prime catalysts for overhead conductor market growth in the Asia Pacific region. Efforts of countries such as India and China to boost their economic growth are also estimated to create new growth prospects for overhead conductor suppliers over the coming years. China is predicted to emerge as one of the most attractive markets for overhead conductor companies owing to its high energy consumption and growing population.
Global Overhead Conductor Market by Region
- Largest
- Fastest
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Overhead Conductor Market Dynamics
Drivers
- Growing Energy Demand: The rapidly increasing world population coupled with rising urbanization are driving up the demand for energy on a global level and this is what is primarily driving up sales of overhead conductors. The development of new transmission and distribution networks to satisfy growing energy demand is projected to drive market growth.
- Renewable Energy Integration: High focus on sustainability and efforts to reduce reliance on exhaustive sources of energy have led to a surge in the popularity of renewable energy sources and this calls for the development of new energy distribution networks with overhead conductors. Growing launch of new renewable energy projects is slated to offer new growth scope for overhead conductor companies.
- Infrastructure Upgrades: Aging power infrastructure is resulting in increased loss of energy during distribution and transmission and efforts to minimize these losses are leading to grid modernization. High use of advanced overhead conductors to modernize old power grids will drive market growth.
Restraints
- Environmental Concerns: Installation of overhead conductors could be met with opposition and regulatory hurdles owing to their adverse impacts on the surrounding habitat and environment. Protected areas and densely populated areas are projected to pose the most challenges for overhead conductor suppliers.
- High Initial Costs: Upfront costs of getting overhead conductors and installing them can be a painstaking one for many establishments and this high CAPEX is projected to limit market growth in the future. Budgetary constraints of governments can also hinder overhead conductor adoption going forward.
- Technological Challenges: The research and development required to create innovative overhead conductor technology can take a long time and be very challenging. The need for extensive testing for new overhead conductors adds up to their costs and limited practical application of the same could pose unexpected technical challenges.
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Overhead Conductor Market Competitive Landscape
The global overhead conductor market can be defined as highly competitive owing to the efforts of multiple companies to expand their market share. overhead conductor companies are continually investing in the R&D of novel overhead conductors with new materials and technologies to improve their efficiency. Market players are also developing new overhead conductors designed for specific applications such as railways and renewable energy transmission and distribution. overhead conductor suppliers are focusing on expanding their product portfolio to stand out in the marketplace and are also opting for strategies such as collaborations, partnerships, and mergers to strengthen their position in the global competitive landscape. overhead conductor manufacturers are also experimenting with materials to minimize power losses and increase their scope of application. Overhead conductor vendors can also strike new deals with governments investing in grid upgradation and modernization to improve their revenue generation potential in the long run.
Top Player’s Company Profiles
- Nexans - France
- Hengtong Group - China
- TPC Wire & Cable - United States
- KEI Industries - India
- Sumitomo Electric Industries - Japan
- LS Cable & System - South Korea
- Oman Cables Industry - Oman
- Apar Industries - India
- Lamifil - Belgium
- Southwire - United States
- Alfanar - Saudi Arabia
- General Cable - United States
- ZTT Group - China
- Taihan Electric Wire - South Korea
- Riyadh Cables Group - Saudi Arabia
- Sterlite Power - India
- Tratos - Italy
- Midal Cables - Bahrain
- BRUGG Kabel AG - Switzerland
- Aluminum Company of China (Chalco) - China
Recent Developments
- In March 2024, Greek and Cypriot banks collaborated to support regional infrastructure projects, including the East To Med Data Corridor (EMC) overhead cable system and the EuroAsia Interconnector. These projects, which are planned to traverse the region, necessitate significant financial backing from banks.
- In November 2023, Acquia completed its acquisition of Monsido to bolster its Digital Experience Platform (DXP) Suite and improve web accessibility features.
- In October 2023, Vedanta Aluminium, India's largest aluminum producer, introduced a new line of cutting-edge wire rods, including T4, AL59, and the 8xxx series. This launch signifies a significant advancement in product offerings for the global power and transmission sector. The unveiling took place during the Cable & Wire Fair 2023 (CWF2023) in New Delhi.
Overhead Conductor Key Market Trends
- Increasing Demand for High-Temperature Conductors: Growing focus on improving the efficiency of energy transmission and minimization of losses has led to the adoption of high-temperature conductors and this is a trend that could make a lot of money for overhead conductor companies in the future. High-temperature conductors are capable of carrying heavier electrical loads while reducing losses and this is why their demand is projected to surge in the future.
- Focus on Grid Modernization: Power transmission and distribution grids around the world are aging as they have not undergone any major change in the past few decades, which is why governments across the world are investing heavily in the modernization of old power grids to meet the increasing energy demand, which in turn, is projected to favor overhead conductor demand.
Overhead Conductor Market SkyQuest Analysis
SkyQuest’s ABIRAW (Advanced Business Intelligence, Research & Analysis Wing) is our Business Information Product types team that Collects, Collates, Co-relates, and Analyses the Data collected by means of Primary Exploratory Research backed by robust Secondary Desk research.
As per Skyquest Analysis, urbanization and the growing world population are projected to singlehandedly boost demand for overhead conductors over the coming years. Increasing industrialization is also estimated to play a crucial role in governing the overhead conductor market growth going forward. High investments in grid modernization and the growing adoption of efficient electricity conductors to minimize losses are also forecasted to create new growth opportunities. High initial costs associated with the deployment and installation of overhead conductors continue to be a key restraint for market growth. High-temperature overhead conductors are projected to be the most sought-after in the global landscape owing to their ability to carry heavy electrical loads with minimal losses. Asia Pacific region is projected to emerge as the most opportune regional market for overhead conductor companies in the world. A paradigm shift toward renewable energy sources is also projected to create new opportunities for overhead conductor companies in the long run.
| Report Metric | Details |
|---|---|
| Market size value in 2022 | USD 0.66 billion |
| Market size value in 2031 | USD 1.02 billion |
| Growth Rate | 5% |
| Base year | 2023 |
| Forecast period | 2024-2031 |
| Forecast Unit (Value) | USD Billion |
| Segments covered |
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| Regions covered | North America (US, Canada), Europe (Germany, France, United Kingdom, Italy, Spain, Rest of Europe), Asia Pacific (China, India, Japan, Rest of Asia-Pacific), Latin America (Brazil, Rest of Latin America), Middle East & Africa (South Africa, GCC Countries, Rest of MEA) |
| Companies covered |
|
| Customization scope | Free report customization with purchase. Customization includes:-
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Table Of Content
Executive Summary
Market overview
- Exhibit: Executive Summary – Chart on Market Overview
- Exhibit: Executive Summary – Data Table on Market Overview
- Exhibit: Executive Summary – Chart on Overhead Conductor Market Characteristics
- Exhibit: Executive Summary – Chart on Market by Geography
- Exhibit: Executive Summary – Chart on Market Segmentation
- Exhibit: Executive Summary – Chart on Incremental Growth
- Exhibit: Executive Summary – Data Table on Incremental Growth
- Exhibit: Executive Summary – Chart on Vendor Market Positioning
Parent Market Analysis
Market overview
Market size
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- SWOT Analysis
KEY MARKET INSIGHTS
- Technology Analysis
- (Exhibit: Data Table: Name of technology and details)
- Pricing Analysis
- (Exhibit: Data Table: Name of technology and pricing details)
- Supply Chain Analysis
- (Exhibit: Detailed Supply Chain Presentation)
- Value Chain Analysis
- (Exhibit: Detailed Value Chain Presentation)
- Ecosystem Of the Market
- Exhibit: Parent Market Ecosystem Market Analysis
- Exhibit: Market Characteristics of Parent Market
- IP Analysis
- (Exhibit: Data Table: Name of product/technology, patents filed, inventor/company name, acquiring firm)
- Trade Analysis
- (Exhibit: Data Table: Import and Export data details)
- Startup Analysis
- (Exhibit: Data Table: Emerging startups details)
- Raw Material Analysis
- (Exhibit: Data Table: Mapping of key raw materials)
- Innovation Matrix
- (Exhibit: Positioning Matrix: Mapping of new and existing technologies)
- Pipeline product Analysis
- (Exhibit: Data Table: Name of companies and pipeline products, regional mapping)
- Macroeconomic Indicators
COVID IMPACT
- Introduction
- Impact On Economy—scenario Assessment
- Exhibit: Data on GDP - Year-over-year growth 2016-2022 (%)
- Revised Market Size
- Exhibit: Data Table on Overhead Conductor Market size and forecast 2021-2027 ($ million)
- Impact Of COVID On Key Segments
- Exhibit: Data Table on Segment Market size and forecast 2021-2027 ($ million)
- COVID Strategies By Company
- Exhibit: Analysis on key strategies adopted by companies
MARKET DYNAMICS & OUTLOOK
- Market Dynamics
- Exhibit: Impact analysis of DROC, 2021
- Drivers
- Opportunities
- Restraints
- Challenges
- Exhibit: Impact analysis of DROC, 2021
- Regulatory Landscape
- Exhibit: Data Table on regulation from different region
- SWOT Analysis
- Porters Analysis
- Competitive rivalry
- Exhibit: Competitive rivalry Impact of key factors, 2021
- Threat of substitute products
- Exhibit: Threat of Substitute Products Impact of key factors, 2021
- Bargaining power of buyers
- Exhibit: buyers bargaining power Impact of key factors, 2021
- Threat of new entrants
- Exhibit: Threat of new entrants Impact of key factors, 2021
- Bargaining power of suppliers
- Exhibit: Threat of suppliers bargaining power Impact of key factors, 2021
- Competitive rivalry
- Skyquest special insights on future disruptions
- Political Impact
- Economic impact
- Social Impact
- Technical Impact
- Environmental Impact
- Legal Impact
Market Size by Region
- Chart on Market share by geography 2021-2027 (%)
- Data Table on Market share by geography 2021-2027(%)
- North America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- USA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Canada
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Europe
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Germany
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Spain
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- France
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- UK
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Europe
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Asia Pacific
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- China
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- India
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Japan
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Korea
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of Asia Pacific
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Latin America
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- Brazil
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of South America
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Middle East & Africa (MEA)
- Chart on Market share by country 2021-2027 (%)
- Data Table on Market share by country 2021-2027(%)
- GCC Countries
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- South Africa
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
- Rest of MEA
- Exhibit: Chart on Market share 2021-2027 (%)
- Exhibit: Market size and forecast 2021-2027 ($ million)
KEY COMPANY PROFILES
- Competitive Landscape
- Total number of companies covered
- Exhibit: companies covered in the report, 2021
- Top companies market positioning
- Exhibit: company positioning matrix, 2021
- Top companies market Share
- Exhibit: Pie chart analysis on company market share, 2021(%)
- Total number of companies covered
Methodology
For the Overhead Conductor Market, our research methodology involved a mixture of primary and secondary data sources. Key steps involved in the research process are listed below:
1. Information Procurement: This stage involved the procurement of Market data or related information via primary and secondary sources. The various secondary sources used included various company websites, annual reports, trade databases, and paid databases such as Hoover's, Bloomberg Business, Factiva, and Avention. Our team did 45 primary interactions Globally which included several stakeholders such as manufacturers, customers, key opinion leaders, etc. Overall, information procurement was one of the most extensive stages in our research process.
2. Information Analysis: This step involved triangulation of data through bottom-up and top-down approaches to estimate and validate the total size and future estimate of the Overhead Conductor Market.
3. Report Formulation: The final step entailed the placement of data points in appropriate Market spaces in an attempt to deduce viable conclusions.
4. Validation & Publishing: Validation is the most important step in the process. Validation & re-validation via an intricately designed process helped us finalize data points to be used for final calculations. The final Market estimates and forecasts were then aligned and sent to our panel of industry experts for validation of data. Once the validation was done the report was sent to our Quality Assurance team to ensure adherence to style guides, consistency & design.
Analyst Support
Customization Options
With the given market data, our dedicated team of analysts can offer you the following customization options are available for the Overhead Conductor Market:
Product Analysis: Product matrix, which offers a detailed comparison of the product portfolio of companies.
Regional Analysis: Further analysis of the Overhead Conductor Market for additional countries.
Competitive Analysis: Detailed analysis and profiling of additional Market players & comparative analysis of competitive products.
Go to Market Strategy: Find the high-growth channels to invest your marketing efforts and increase your customer base.
Innovation Mapping: Identify racial solutions and innovation, connected to deep ecosystems of innovators, start-ups, academics, and strategic partners.
Category Intelligence: Customized intelligence that is relevant to their supply Markets will enable them to make smarter sourcing decisions and improve their category management.
Public Company Transcript Analysis: To improve the investment performance by generating new alpha and making better-informed decisions.
Social Media Listening: To analyze the conversations and trends happening not just around your brand, but around your industry as a whole, and use those insights to make better Marketing decisions.
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