Overhead Conductor Market – Global Industry Size, Share, Trends, Opportunity, and Forecast Segmented By Product (Conventional, High Temperature, Others), By Voltage (132 kV to 220 kV, 221 kV to 660 kV, >660 kV), By Rated Strength (High Strength, Extra High Strength, Ultra-High Strength), By Current (HVAC, HVDC), By Region, Competition 2018-2028

Market Overview

Global Overhead Conductor market has valued at USD 1.82 Billion in 2022 and is anticipated to project robust growth in the forecast period with a CAGR of 4.86%.

Key Market Drivers

Infrastructure Development

Infrastructure development is a pivotal driver propelling the growth of the global overhead conductor market. As nations around the world continue to modernize and expand their infrastructure, the demand for reliable and efficient electricity transmission and distribution systems is surging. Overhead conductors, with their proven track record and cost-effective attributes, are poised to play a central role in meeting these demands. One of the key facets of infrastructure development is the urbanization of both emerging and established economies. As populations gravitate towards urban centers, the need for robust electrical grids to power cities and support industrialization becomes imperative. Overhead conductors are an ideal choice for these grid expansions and upgrades due to their ability to cover long distances economically and efficiently. Their versatility and ease of installation make them the go-to option for electrifying urban areas.

Moreover, infrastructure development goes hand in hand with economic growth. As countries invest in building roads, bridges, airports, and other critical infrastructure, the demand for electricity soars. Overhead conductors facilitate this growth by ensuring that the electricity generated in power plants, whether conventional or renewable, reaches its intended destinations reliably. Furthermore, the globalization of economies and the increasing interconnection of power grids between nations amplify the importance of overhead conductors. Cross-border electricity trade relies heavily on efficient transmission lines, and overhead conductors are often the preferred choice for these interconnector projects due to their cost-effectiveness and ease of maintenance.

As sustainability and environmental concerns come to the forefront, overhead conductors also align with these objectives. They have a lower environmental impact compared to underground cables, requiring fewer resources for installation and maintenance. This makes them a preferred option for environmentally conscious infrastructure development projects. In conclusion, infrastructure development is a powerful force driving the global overhead conductor market. As nations invest in expanding and modernizing their infrastructure to support economic growth and urbanization, the demand for efficient and reliable electricity transmission systems will continue to grow, cementing the position of overhead conductors as a vital component of global infrastructure development.

Electricity Demand

Electricity demand is a fundamental and relentless driver fueling the growth of the global overhead conductor market. As the world's population continues to grow, economies expand, and technological advancements pervade every aspect of our lives, the thirst for electricity has become insatiable. Overhead conductors are a linchpin in fulfilling this ever-increasing demand for electrical power. One of the primary factors contributing to escalating electricity demand is urbanization. As people migrate from rural areas to cities, urban centers swell in size and complexity. This phenomenon leads to a concentration of economic activity, industry, and residential areas, all of which require substantial electrical power. Overhead conductors are ideally suited for this scenario, as they are capable of transmitting electricity over long distances, efficiently supplying the burgeoning energy needs of densely populated urban areas.

Moreover, industrialization and the proliferation of electronic devices are driving up electricity consumption. Industries, from manufacturing to technology, depend heavily on a stable and abundant power supply. Additionally, the electrification of various sectors, including transportation (e.g., electric vehicles), heating, and cooling, further amplifies electricity demand. Overhead conductors play an indispensable role in facilitating the transmission of power from generation sources, such as power plants or renewable installations, to these diverse consumers.

The global shift towards sustainable and renewable energy sources also intensifies the demand for overhead conductors. Renewable energy installations, often located in remote or rural areas, require efficient means of transmitting the generated electricity to urban consumption centers. Overhead conductors are preferred for their cost-effectiveness and ability to traverse challenging terrains, making them instrumental in harnessing the full potential of renewable resources. Moreover, as energy efficiency becomes paramount for reducing greenhouse gas emissions and mitigating climate change, modern overhead conductor technologies are continually evolving to minimize transmission losses, making them a pivotal component of energy conservation efforts. In conclusion, electricity demand is the driving force behind the global overhead conductor market. As the world becomes more electrified, populous, and environmentally conscious, the necessity for efficient, long-distance electricity transmission will persist, ensuring the continued relevance and growth of overhead conductors in meeting our energy needs.

Key Market Challenges

Aging Infrastructure

The global overhead conductor market faces a significant impediment in the form of aging infrastructure. Across the world, much of the existing overhead conductor systems, which are crucial for electricity transmission and distribution, have been in service for decades. This aging infrastructure presents a host of challenges that can hamper the market's growth and reliability. First and foremost, aging infrastructure is often associated with increased maintenance requirements and decreased reliability. Over time, exposure to the elements, wear and tear, and corrosion can lead to the degradation of overhead conductor materials, such as aluminum or copper wires. This degradation can result in increased transmission losses, decreased efficiency, and, in some cases, a heightened risk of electrical failures and power outages. These issues can lead to disruptions in power supply, negatively impacting industries, businesses, and households, and can even pose safety risks.

Additionally, older overhead conductor systems may not meet the capacity and performance requirements of modern electricity grids. As electricity demand continues to rise due to factors like urbanization, industrialization, and the electrification of various sectors, aging infrastructure can struggle to handle the increased load, leading to bottlenecks in power transmission and distribution. This, in turn, can hinder economic growth and development. Upgrading or replacing aging overhead conductor infrastructure is a costly and resource-intensive endeavor. Funding such projects can be challenging, especially for governments and utilities facing budget constraints. Moreover, the physical replacement or refurbishment of overhead conductor lines can disrupt communities, cause environmental concerns, and involve complex permitting processes, further complicating the task of modernizing the infrastructure.

As the global push for cleaner and more efficient energy systems intensifies, addressing the challenges posed by aging overhead conductor infrastructure becomes even more critical. Modernizing these systems with advanced materials and technologies that reduce transmission losses and enhance reliability is essential for meeting the evolving demands of the electricity grid and supporting sustainable energy goals. In conclusion, the presence of aging overhead conductor infrastructure represents a substantial obstacle to the global overhead conductor market. Addressing this challenge requires strategic investments, innovative solutions, and coordinated efforts among governments, utilities, and industry stakeholders to ensure the continued reliability and efficiency of electricity transmission and distribution systems worldwide.

Environmental Concerns

Environmental concerns pose a significant challenge to the global overhead conductor market. While overhead conductors are essential components of electrical transmission and distribution systems, they are not without environmental drawbacks. These concerns can hamper the market's growth and sustainability in several ways. Aesthetics and Visual ImpactOverhead conductor lines, especially high-voltage transmission lines, can have a substantial visual impact on the landscape. Many people find the presence of overhead conductors and towering pylons unappealing, which can lead to public opposition and objections during the planning and permitting stages of new projects. This aesthetic concern can delay or even halt overhead conductor projects.

Habitat DisruptionThe construction and maintenance of overhead conductor lines can disrupt natural habitats and ecosystems. Clearing land for transmission corridors and the installation of tall towers can lead to habitat fragmentation, disturbance of wildlife, and potential harm to endangered species. Environmental regulations and public opposition may hinder projects in ecologically sensitive areas.

Electromagnetic Fields (EMF)Overhead conductors produce electromagnetic fields (EMF) that have raised health concerns, although scientific consensus on the health effects remains inconclusive. Public fears regarding EMF exposure can generate opposition to overhead conductor projects, particularly when they are located near residential areas or schools.

Wildlife HazardsOverhead conductor lines can pose a risk to wildlife, especially birds. Birds may collide with the conductors or get electrocuted when they come into contact with them. Mitigation measures, such as bird diverters and insulator designs, are necessary to reduce these risks, but they add to the cost and complexity of projects.

Key Market Trends

High-Temperature Superconductors

High-temperature superconductors (HTS) represent a cutting-edge and transformative technology that is poised to drive the global overhead conductor market to new heights. These advanced materials, capable of carrying electric currents with virtually zero resistance at significantly higher temperatures than traditional superconductors, have the potential to revolutionize the way electricity is transmitted and distributed. Here's how HTS is set to influence and propel the global overhead conductor market, Efficiency and Reduced LossesThe most significant advantage of HTS materials is their near-zero electrical resistance. This means that overhead conductors made with HTS can transmit electricity with minimal energy losses. Lower transmission losses translate into higher efficiency in the electrical grid, resulting in reduced energy waste and cost savings.

Increased CapacityHTS overhead conductors can carry significantly higher current densities compared to conventional conductors, making them ideal for increasing the capacity of electrical transmission lines. This means that existing infrastructure can be upgraded to transmit more power without the need for extensive and expensive new installations. Voltage ControlHTS materials can be used to develop devices that enable precise voltage control and stabilization within the electrical grid. This feature is invaluable for maintaining grid stability, particularly when integrating intermittent renewable energy sources like wind and solar power.

Compact DesignsHTS conductors can be manufactured in compact and lightweight designs, reducing the physical footprint of transmission lines. This is particularly advantageous in densely populated urban areas where space is limited, and aesthetic concerns are prominent.

Environmental BenefitsThe reduced transmission losses associated with HTS conductors contribute to environmental sustainability by decreasing greenhouse gas emissions and energy consumption. These benefits align with global efforts to combat climate change and promote cleaner energy solutions. Grid ResilienceHTS overhead conductors are less susceptible to overheating during high-demand periods, contributing to the resilience of the grid. This property is vital in preventing power outages and ensuring an uninterrupted electricity supply.

Renewable Energy IntegrationHTS conductors facilitate the efficient transmission of electricity from remote renewable energy generation sites, such as offshore wind farms, to population centers. This enhances the integration of renewable energy sources into the grid, supporting the transition to cleaner energy. Research and DevelopmentOngoing research and development in HTS materials are leading to improvements in their performance and manufacturability. As technology advances and costs decrease, HTS conductors are becoming more accessible and economically viable for widespread deployment. In conclusion, high-temperature superconductors hold immense promise for the global overhead conductor market. Their ability to enhance the efficiency, capacity, and reliability of electrical transmission and distribution systems positions HTS as a game-changer in the industry. As the demand for energy continues to grow, particularly in the context of renewable energy integration and grid modernization, HTS overhead conductors are poised to play a central role in shaping the future of our electrical infrastructure.

Grid Modernization

Grid modernization is a pivotal driver propelling the growth of the global overhead conductor market. As the world's energy landscape undergoes a profound transformation characterized by increased electrification, renewable energy integration, and technological advancements, the need to modernize electrical grids has become imperative. Overhead conductors are at the forefront of this grid modernization effort, playing a central role in enhancing the efficiency, reliability, and sustainability of electricity transmission and distribution systems. One of the primary drivers of grid modernization is the integration of renewable energy sources, such as wind and solar power, into the electrical grid. These intermittent energy sources often require long-distance transmission to connect remote generation facilities with urban consumption centers. Overhead conductors, with their ability to efficiently transport electricity across vast distances, are essential for ensuring that renewable energy resources can be harnessed and delivered to where they are needed most.

Moreover, as the global trend toward urbanization continues, electrical grids are facing increased demands. Overhead conductors are being upgraded to accommodate greater power loads, enhance grid reliability, and support the electrification of various sectors, including transportation and industry. These improvements are critical for meeting the energy needs of growing urban areas and supporting economic development. Grid modernization efforts also involve the deployment of advanced technologies, such as smart grid solutions, which enable real-time monitoring, control, and optimization of the electricity network. Overhead conductors are being integrated with these technologies to create more responsive and adaptive grids that can better manage energy flows and reduce transmission losses.

The resilience and reliability of electrical grids are paramount, especially in the face of extreme weather events and natural disasters. Overhead conductors are being designed to withstand adverse conditions, such as ice storms, hurricanes, and high winds, ensuring that power can be restored quickly after disruptions, minimizing downtime and economic losses. In conclusion, grid modernization is a transformative force driving the global overhead conductor market. As the world's energy systems evolve to meet the challenges of the 21st century, overhead conductors will continue to play a pivotal role in enabling the efficient, reliable, and sustainable transmission of electricity, supporting the integration of renewable energy sources, and facilitating the electrification of our rapidly changing world.

Segmental Insights

Rated Strength Insights

The ultra-high-tension applications segment holds a significant market share. In terms of application, the overhead conductor market from ultra-high-tension segment is poised to exhibit a more than 5% growth rate through 2032 owing to rapid urbanization and increased building activity in developed nations.

Regional Insights

Asia Pacific has established itself as the leader in the Global Overhead Conductor Market with a significant revenue share in 2022.

This Asia-Pacific dominated the Overhead Conductor market in 2021. It is expected to continue its dominance in the coming years. The region saw an unprecedented increase in the demand for Overhead Conductors during the past few years, which is expected to increase further during the forecast period.

Industries such as automotive, chemical, fertilizers, and petrochemical are witnessing steady growth in the region, leading to an increase in electricity demand. This factor is expected to offer tremendous growth opportunities for the market players in the region.

Recent Developments

• In 2018, Mitsubishi Hitachi Power Systems has created a new company focused on maintenance and renovation in the Filipino power generation market.

• In 2019, NTPC and PowerGrid signed a pact to form a joint venture for power distribution biz Northwest China's Xinjiang Uygur Autonomous Region witnessed double-digit growth in wind and solar power generation during the first four months of 2019.

Key Market Players

• Tratos
• Eland Cables
• General Cable
• Sumitomo Electric Industries
• Elsewedy Electric
• Southwire Company
• Tokyo Rope International
• Nirmal group
• ZMS cable
• Lumpi-Berndorf Draht- und Seilwerk GmbH