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
Overhead Conductor Market is poised to grow substantially through 2032, primarily owing to the rising peak load demand worldwide. For instance, the Southwest Power Pool, U.S., anticipated that its demand for electricity would reach up to 54.114 GW each day, as the temperature hovered over 100 degrees Fahrenheit.
Besides, rising concerns about grid stability and energy security, coupled with increasing investments to form a sustainable electrical network will also drive the market. In addition, the advancing industrial sector in developing countries will also escalate the demand for overhead conductors. It would be credible to note that Asian countries are heavily dependent on the industrial sector, which will also bolster the market growth in this region.
Additionally, the key providers in the overhead conductor market are also strengthening their positions in the market by entering new acquisitions, mergers, and joint ventures, in addition to expanding their portfolios. Citing an instance, in April 2021, Lamifil announced offering a TASCR Curlew conductor for Northland and Auckland Grid. The product is expected to replace the existing conductors. It has been reported that the project was estimated to cover around 43 km.
Overall, the overhead conductor market is segmented in terms of product, voltage, rated strength, current, application, and region.
Based on product, the others segment is set to grow significantly through 2023-2032, owing to the expansion of long-distance transmission lines, deployment of superconducting cables, and persistent measures taken by industry leaders and government bodies to modernize grid infrastructure.
On the basis of voltage, the > 220 kV to 660 kV segment will witness steady growth over the next ten years, due to the increasing establishment of manufacturing and power generation industries. Furthermore, growing penetration of heavy metal and mining sectors will also foster the market demand.
In the context of rated strength, the extra-high strength segment is set to grow significantly over the next decade. The segmental growth can be accredited to the increasing demand for power reliability and surging ampacity across industries mining, and oil and gas.
In terms of application, the high-tension segment will witness steady growth through 2032, owing to the increasing incorporation of frequency distribution links and growing concern around energy efficiency. Additionally, expanding product installation across the vast landscape and easy availability of low-cost conductors will also fuel the market demand.
In the regional context, the North America overhead conductor market is set to grow at more than 4% CAGR through 2032. The regional market growth can be attributed to the upgradation and rebuilding of existing transmission lines and increasing focus on the adoption of smart grid technologies for energy-efficient solutions.
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