USD 0.66 billion
Report ID:
SQMIG45O2033 |
Region:
Global |
Published Date: April, 2024
Pages:
197
|Tables:
64
|Figures:
75
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.
Global Market Size
USD 0.66 billion
Largest Segment
Electric Utilities
Fastest Growth
Infrastructure and Construction
Growth Rate
5% CAGR
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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.
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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.
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Drivers
Restraints
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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
Recent Developments
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 |
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Customization scope | Free report customization with purchase. Customization includes:-
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Executive Summary
Market overview
Parent Market Analysis
Market overview
Market size
KEY MARKET INSIGHTS
COVID IMPACT
MARKET DYNAMICS & OUTLOOK
Market Size by Region
KEY COMPANY PROFILES
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.
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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Report ID: SQMIG45O2033