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

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).

The 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 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. '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'

Growing Energy Demand: The rapidly increasing world population coupled with rising urbanization are driving up the demand for energy on a 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.

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.

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.