Overhead Conductors Market Size, Share, Analysis and Forecast | Key Segments, Benefits & Opportunity

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An overhead conductor is used to carry electricity from one place to another. It has emerged as one of the key components in power transmission and distribution activities in the last few years.

Overhead Conductors Market - An Overview

The global overhead conductors market is expected to witness moderate growth during the forecast period between 2021 and 2031.

An overhead conductor is used to carry electricity from one place to another. It has emerged as one of the key components in power transmission and distribution activities in the last few years.

Any overhead conductor must have specific characteristics, which would make them suitable to use for long time periods.

Some of these features include maximum electrical conductivity, high stress-bearing capacity, and low weight per unit volume capacity. Also, overhead conductors must be able to withstand extreme climatic conditions.

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Overhead Conductors Market - Competitive Landscape

The global overhead conductors market is highly competitive. It is anticipated that the leading players will account for a large share in the global overhead conductors market, in the coming years.

Research and development activities are expected to be a key growth strategy for the well-established players in the overhead conductors market.

Prominent players in the overhead conductors market could establish RD centers in different parts of the world, which would exclusively function to produce an improved quality of products, which would meet the customer requirements.

Some of the key players in the global overhead conductors market include Eland Cables, Midal Cables, Lumino Industries, ZMS cable, and Southwire Company.

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Overhead Conductors Market - Regional Assessment

The global overhead conductors market is divided into five regions- North America, Europe, Asia Pacific, Latin America, and Middle East and Africa.

North America is expected to witness maximum growth in the global overhead conductors market, in the coming years. Governments in countries such as the U.S and Canada have agreed to replace the copper overhead cables with aluminium overhead cables, which is anticipated to increase the overall demand for overhead conductors, in these countries.

The expansion of grid networks in countries such as the U.S and Canada is also expected to help increase the product demand, in North America.

Asia Pacific is expected to witness substantial growth in the overhead conductors market in the years ahead, owing to an increase in manufacturing activity and rise in disposable income in countries such as India and Bangladesh, leading to an increased demand for overhead conductors.

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Europe is anticipated to witness strong growth in the global overhead conductors market, owing to an expected increase in renewable energy projects in countries such as UK and Germany.

In addition to this, refurbishment of existing grid infrastructure is expected to play a key role in the growth of the overhead conductors market in Europe.

Other regions in the world such as Middle East and Africa and Latin America are expected to witness sluggish growth in the global overhead conductors market, in the years ahead.

Overhead Conductors Market - Trends and Opportunities

Rising electricity demand globally is the key growth driver for the overhead conductors market.

In addition to this, modernization of older electrical infrastructure is expected to fuel the demand for overhead conductors, in future.

Other factors such as grid expansion reinforcement, renewable interconnection, and international grid connection links are expected to bolster the overall overhead conductors market, in the years ahead.

The overhead conductors usually made from aluminium and aluminium alloys, have been found to be cost-effective. As a result, these conductors have witnessed an increased demand recently and propelled the overall overhead conductors market.

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The all-aluminium overhead conductors are expected to make the largest contribution to the overall overhead conductors market, owing to characteristics such as high corrosion resistance.

The power distribution application segment is expected to be the largest contributor to the overhead conductors market, owing to the increased deployment of overhead conductors for power distribution purposes, globally.

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