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Overhead Aluminium Conductor Market Size, Share, and Analysis, By Product (AAC {All Aluminium Conductor}, AAAC {All Aluminium Alloy Conductor}, ACSR {Aluminium Conductor, Steel Reinforced}, ACAR {Aluminium Conductor, Alloy Reinforced}, Others), By Voltage (Low, Medium, High), By Application (Industrial, Commercial, Residential), By Performance (High temperature, Conventional) and Regional Forecasts, 2022-2032
Overhead Aluminium Conductor market size was USD 826.8 million in 2021 and projected to grow from USD 894.6 million in 2023 to USD 1259.4 million by 2032, exhibiting a CAGR of 4% during the forecast period.
The overhead aluminium conductor market is related to electrical industry that related to distribution, generation and utilization of aluminium conductors for overhead power transmission and supply systems. Overhead conductors are used to transfer electrical energy from power production plants like power plants or renewable energy plants, to end users. These conductors are generally installed on utility poles or overhead pylons forming a rigid network of power lines.
Overhead Aluminium Conductor Market is expected to reach USD 1259.4 million, growing at a CAGR of 4% during forecast period. The overhead aluminium conductor market surrounds the manufacturing and supply of aluminium conductor products like insulated conductors, bare overhead conductors, and different accessories used in the construction and maintenance of overhead power lines. The infrastructure expansion, development, and upgradation of power transmission and distribution networks, government regulations, renewable energy projects, and advancements in technology are expected to impact the growth of overhead aluminium conductor market.
Overhead Aluminium Conductor Market is classified based on the Product into AAC (All Aluminium Conductor), AAAC (All Aluminium Alloy Conductor), ACSR (Aluminium Conductor, Steel Reinforced), ACAR (Aluminium Conductor, Alloy Reinforced), Others. ACSR conductor segment is expected to dominate the market in the forecast period as it is widely used as steel core of ACSR conductors which give excellent mechanical strength, efficient of withstanding mechanical stresses and high tension. This strength enhances the duration of support structures
Overhead Aluminium Conductor Market is classified based on the Voltage into Low, Medium, High. High voltage conductor segment is expected to dominate the market in forecast period owing to the increased use of high voltage transmission lines, above 100 kV which are useful for joining power generation sources to substations, power transmission to long-distances, and integrating regional grids. Aluminium conductors are used in high voltage connections due to the benefits like improved performance, cost-effectiveness, environmental sustainability which are the better alternatives for high voltage transmission and distribution systems.
Growing Demand for Electricity is Expected to Boost the Growth of the Market
The demand for electricity is increasing due to the urbanization, growing population and rising infrastructure projects which results in the growing demand for electricity thereby having a positive impact on the growth of aluminium conductor market. Increasing electricity consumption requires the necessity for power transmission and distribution systems and the construction of new power transmission, grid expansions, and upgrades distribution networks require overhead aluminium conductors which are expected to boost the market growth.
Grid Modernization is Expected to Boost the Growth of the Market
The combination of renewable energy sources like solar and wind into the power grid is expected to drive the demand for overhead aluminium conductor market. Conductors are helpful in connecting the grid to renewable energy generation facilities, aiding in the transmission of clean energy for long distances. Grid modernization is required considering the aging of power infrastructure in several countries and is expected to increase the investments in overhead aluminium conductors. Improving and extension of existing distribution and transmission systems with modern conductors helps in improving the transmission capacity, to increase grid reliability, and reduce power flow which is expected to boost the market growth.
Safety Issues May Restrain the Growth of the Market
Various safety issues related to overhead conductors are expected to restrain the growth of the market. The unavailability of skilled manpower to handle overhead conductors may hamper the market growth.
Overhead Aluminium Conductor Market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. North America dominated the market in 2021 and is expected to continue its dominance over the forecast period owing to the improved government plans to develop infrastructure facilities and to initiate energy efficient transmission and distribution energy system which are expected to boost the market growth. The focus of development of the renewable energy projects are expected to boost the necessity of connecting the renewable energy sources with the power grid and are expected to boost market growth.
The COVID-19 outbreak had resulted in the downfall of economies globally. Several countries had imposed lockdowns and applied travel restrictions to control the spread of the virus. Due to the delay in completion of construction projects involving distribution infrastructure, power transmission and shutdowns due to lockdown, the new installations and replacements of overhead aluminium conductors was slowed down. COVID-19 had a negative impact on the growth of Overhead Aluminium Conductor Market.
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ATTRIBUTE |
DETAILS |
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Study Period |
2018-2032 |
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Base Year |
2022 |
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Forecast Period |
2021-2032 |
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Historical Period |
2019-2021 |
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Growth Rate |
CAGR of 4% from 2022-2032 |
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Unit |
Value (USD Million) |
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Segmentation |
Main Segments List |
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Product |
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Voltage |
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Application |
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Performance |
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By Region |
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Overhead Aluminium Conductor Market size was estimated at USD 826.8 million in 2021 and is expected to reach USD 1259.4 million in 2032.
The overhead aluminium conductor market is related to electrical industry that related to distribution, generation and utilization of aluminium conductors for overhead power transmission and supply systems. Overhead conductors are used to transfer electrical energy from power production plants like power plants or renewable energy plants, to end users.
ACSR and High segment accounted for the largest Overhead Aluminium Conductor market share.
Key players: Lamifil, ZTT, Sumitomo Electric Industries, Ltd., APAR Industries Ltd., Nexans, Taihan Electric Wire Co., Ltd., Prysmian Group, SWCC Showa Holdings Co., Ltd., KEI Industries Limited, LUMPI-BERNDORF Draht- und Seilwerk GmbH, CTC Global Inc., Neccon Power & Infra Limited, Midal Cables Ltd, Diamond Power Infrastructure Ltd., Oman Cables Industry, Southwire Company LLC, 3M, Galaxy Transmissions Pvt., Ltd., CABCON India Limited, Bekaert and Other Prominent Players are the key players in
Growing Demand for Electricity and Grid Modernization are the factors driving the Overhead Aluminium Conductor market.
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