Dublin, Jan. 28, 2024 (GLOBE NEWSWIRE) — The “Global Overhead Cables Market by Type (Extra-high Voltage, High Voltage, Low Voltage), Core Type (Four Cores, Three Cores, Two Cores), Conductor Type, Application – Forecast 2024-2030” report has been added to ResearchAndMarkets.com’s offering.
The Overhead Cables Market size was estimated at USD 15.89 billion in 2023, USD 16.90 billion in 2024, and is expected to grow at a CAGR of 6.85% to reach USD 25.27 billion by 2030.
Applications for overhead cables include residential and commercial electricity distribution, high-voltage power lines for industrial use, telecommunications systems, television antennas and other broadcasting systems, railway electrification systems, and catalyst networks for electric vehicles, among others.
Rising electricity consumption and establishing new power lines have been the key factors aiding the market growth. Increasing smart grid investment and the use of overhead cables for grid interconnection also elevate the cables’ demand. Susceptibility of overhead conductor lines to lightning and bad weather and their safety concerns impede product penetration. However, technological improvements in cables, the introduction of new safety standards, and the availability of safety certifications have enabled them to sustain their utility. The adoption of overhead cables for large-scale renewable energy projects is also a major factor encouraging market development.
The Americas overhead cable market is advanced, driven by multiple product development and expansion strategies adopted by the players to meet their increasing demand from the power and energy sector. The U.S. and Canada have initiated several power generation and grid modernization projects with government support, elevating the need for overhead cables.
Europe, the Middle East, and Africa’s overhead conductor market is mature, characterized by well-established intercontinental players consistently involved in acquisitions, partnerships, and investment strategies for market development. The growing transition toward renewable energy in the EMEA has accelerated the need for robust power transmission and distribution lines. Vendors in the EMEA are also working toward launching sustainable overhead wires to strengthen their sustainability strategy and accelerate their race to net-zero CO2 emissions.
The public and private sectors make considerable investments in developing microgrids to enhance local resiliency and improve the operability and stability of regional electric grids, developing a potential platform for overhead cables in the Asia-Pacific region. The Asia-Pacific region observes significant production and exports of electric conductors owing to the massive presence of raw materials and low-cost manufacturing procedures, building a strengthened platform for the overhead cable market.
Market Segmentation & Coverage
- Extra-high Voltage
- High Voltage
- Low Voltage
- Medium Voltage
- Core Type
- Four Cores
- Three Cores
- Two Cores
- Conductor Type
- AAAC (All Aluminium Alloy Conductors)
- AAC (All Aluminium Conductors)
- ACAR (Aluminium Conductor Alloy Reinforced)
- ACSR (All Aluminium Conductor Steel Reinforced)
- ABB Ltd.
- Alfanar Group
- Apar Industries Limited
- Belden Inc.
- Elsewedy Electric Co. S.A.E.
- Encore Wire Corporation
- Finolex Cables Ltd.
- Furukawa Electric Co. Ltd.
- Hengtong Group Co., Ltd.
- International Wire Group, Inc.
- KEC International Limited by RPG Group
- KEI Industries Limited
- Lamifil NV
- Laser Power and Infra
- LS Cable & System Ltd.
- Lumino Industries Limited
- LUMPI-BERNDORF Draht- und Seilwerk GmbH
- Midal Cables Ltd.
- Nexans S.A.
- Nirmal Group
- NKT A/S
- PRYSMIAN S.p.A.
- Riyadh Cables Group
- Southwire Co. LLC
- Sterlite Power
- Sumitomo Electric Industries, Ltd.
- SWCC Corporation
- TPC Wire & Cable
- Tratos Cavi S.p.A.
- United Cable Industries Company
- Versalec Cables
- ZMS CABLE GROUP
For more information about this report visit https://www.researchandmarkets.com/r/o0o7fn
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- Global Overhead Cables Market