Overhead Aluminium Conductor Market

Overhead Aluminium Conductor Market Size

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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.

Market Highlights

Overhead Aluminium Conductor Market is expected to project a CAGR 4% during the forecast period, 2022-2032

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 Segmentation:

ACSR segment is expected to grow with high CAGR during the forecast period

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

High segment expected to grow with high CAGR during the forecast period

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.

Market Dynamics:   

Growth Drivers

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.

Restraint

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. 

Recent Developments:

• In 2019, PowerGrid and NTPC agreed to form a joint venture for distributing power between Northwest China's Xinjiang Uygur Autonomous Region which was expected to double-digit growth in wind and solar power generation.
• In 2018, Mitsubishi Hitachi Power Systems has developed a new company to focus on renovation and maintenance in the Filipino power generation market.

Overhead Aluminium Conductor Market

Key Players Covered:

• 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
• Other Prominent Players (Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence, SWOT Analysis)

Regional Analysis

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.

Impact of Covid-19 on Overhead Aluminium Conductor Market

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.

Overhead Aluminium Conductor Market is further segmented by region into:

• North America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United States and Canada
• Latin America Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – Mexico, Argentina, Brazil and Rest of Latin America
• Europe Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – United Kingdom, France, Germany, Italy, Spain, Belgium, Hungary, Luxembourg, Netherlands, Poland, NORDIC, Russia, Turkey and Rest of Europe
• Asia Pacific Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – India, China, South Korea, Japan, Malaysia, Indonesia, New Zealand, Australia and Rest of APAC
• Middle East and Africa Market Size, Share, Trends, Opportunities, Y-o-Y Growth, CAGR – North Africa, Israel, GCC, South Africa and Rest of MENA.

Overhead Aluminium Conductor Market Scope and Segments:

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