Overhead Conductor Market: Global Opportunity Analysis and Industry Forecast, 2021-2031 Market

Electrical conductors are a medium through which electricity is conducted. Overhead conductors are a physical means to carry electrical energy from one electricity point to another. These conductors are used in the transmission and distribution of electric energy over long distances. Overhead conductors are an essential and integral part of the power industry, as they are responsible for the transmission and distribution of the electrical energy. The transfer of electrical power over larger distances is done through the usage of high voltage overhead conductors. 

COVID-19 impact

• The global market for overhead conductors is severely impacted by the outbreak of the COVID-19 pandemic. 
• The COVID-19 pandemic saw a decline in the economic growth in almost all the major countries, thus affecting consumer spending patterns. 
• Owing to the lockdown implemented across various countries, national and international transport have been hampered, which has significantly impacted the supply chain of numerous industries across the globe, thereby increasing the supply–demand gap.
• Thus, insufficiency in raw material supply is expected to hamper the production rate of overhead conductors, which negatively impact the market growth.
• However, this situation is expected to improve as government has started relaxing norms around the world for resuming business activities.

Market dynamics:

Producers are focusing on the development of wires and cables which do not have a heavy impact on the environment. Thus, increasing demand for environmental friendly products is driving the growth of the overhead conductors market. Concerns regarding the loss of energy while transmission has made the government of various countries to take necessary regulatory actions by ensure product development. ASCR is the most popular among other owing to its attributes such as excellent tensile strength and effective conductivity. Rapidly increasing urbanization and commercialization together with positive surge in high tension transmission grid is expected to promote market growth. More focus on the assignment of HDVC transmission line to curb the cross border demand for power supply is expected to further contribute to the growth of the overhead conductor market. Feasibility, operational flexibility, low maintenance with better conductivity of the high strength overhead conductors is likely to contribute to the growth of the overhead conductor market. Use of ultrahigh-strength overhead conductors will result in reduction of energy losses during transmission. This is likely to propel the market growth of the product.

One of the major restraints hinder the growth of the overhead conductors is the safety issues concerning overhead conductors. They can be very dangerous if not handled with care. Another factor restraining the market growth is the lack of availability of skill manpower to handle the overhead conductors of high and ultrahigh voltage.   

Regional analysis:

North America is expected to witness a significant increase in demand owing to the government’s plans regarding improving infrastructural facilities. In addition, the government has also planned to introduce energy efficient transmission and distribution energy system which will not have a negative impact on the environment. Developing counties Like India and China are investing heavily in the production and manufacturing of the overhead conductors. Countries in Europe are increasingly investing in the development of the renewable energy projects. This will propel the need of connecting the renewable energy sources with the power grid. This will drive the demand for overhead conductors over the coming years. 

Key benefits of the report:

• This study presents the analytical depiction of the global overhead conductor industry along with the current trends and future estimations to determine the imminent investment pockets.
• The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global overhead conductor market share.
• The current market is quantitatively analyzed from 2020 to 2027 to highlight the global overhead conductor market growth scenario.
• Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
• The report provides a detailed global overhead conductor market analysis depending on competitive intensity and how the competition will take shape in coming years. 

 Overhead Conductor Market: Global Opportunity Analysis and Industry Forecast, 2020–2027 Report Highlights