Overhead Conductors Market to Record an Exponential CAGR by 2026
Electrical
conductors are materials that conduct electricity. Overhead conductor
is a physical medium used to carry electrical energy across two
adjoining electricity network junctions. These travel easily from
atom to atom with the help of voltage. Overhead conductors are
utilized in electric power transmission and distribution to transmit
electrical energy along large distances. Overhead conductor consists
of more than one conductors suspended by towers or poles. They are
essential components in the power industry and are responsible for
the transmission and distribution of electric power. A metal wire is
commonly used as a form of overhead conductor.
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The
overhead conductors market can be segmented based on voltage type,
application, and region. Based on voltage type, the overhead
conductors market can be segregated into 130 kV to 225 kV, 226 kV to
650 kV, and above 651 kV. Based on application, the overhead
conductors market can be divided into high tension, extra high
tension, and ultra-high tension. High voltage overhead transmission
lines are utilized to transfer electricity over long distances from
central substation to the main substation. The transfer of
electricity over long distances above 225 kV transmission voltage are
termed extra high tension transmission lines. Transfer of electricity
more than 650 kV over longer distance are known as ultra-high tension
transmission lines.
Rise
in demand for production of green products is a major trend driving
the overhead conductors market. Manufacturers of overhead conductors
are largely focusing on developing wires and cables with less
detrimental impact on the environment. New technological advancements
and inventions are being developed to lower the manufacturing costs
of overhead conductors. Regulatory measures by developed and
developing countries toward the existing transmission losses have
compelled installers to focus on effective and reliable product
development.
The
usage of overhead conductors visually distracts the environment.
Birds, low flying aircraft, drones, and surveillance cameras are
affected by overhead conductors. Safety issue and scarcity of high
skilled labor to handle ultra-high overhead conductors are the major
restraints of using overhead conductors.
In
terms of geography, North America offers high potential for the
overhead conductors market. The use of overhead conductors is
expected to increase in North America., as the U.S. Government plans
to refurbish and revamp its infrastructure and produce eco-friendly
energy distribution and transmission control systems. Countries in
Asia Pacific such as India, China, and Japan are investing
significantly in the manufacture of environmentally-friendly overhead
conductors. Several end-users are replacing their old equipment such
as transmission and distribution transformers, power cables,
circuit-breakers, and switchgears with technically advanced
transmission and distribution equipment to revamp their existing
transmission network. This is driving the demand for overhead
conductors.
Countries
in Europe such as Germany, France, Sweden, and the U.K. are focusing
on increasing their infrastructure investments for the development of
renewable energy projects. This is anticipated to create the need to
connect renewable energy sources to the grid network, thereby
augmenting the usage of overhead conductors due to their properties
such as low transmission loss. The overhead conductors market in
Middle East & Africa is anticipated to expand rapidly in the near
future. Countries such as Saudi Arabia, Kuwait, Bahrain, and Qatar
have invested significantly in overhead conductors for the
development of infrastructure.
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Key
players operating in the overhead conductors market include General
Cable, Nexans, Southwire, Midal Cables, and Prysmian Group.
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