[197 Pages Report] The Overhead Cables Market size was estimated at USD 15.77 billion in 2023 and expected to reach USD 16.68 billion in 2024, at a CAGR 5.87% to reach USD 23.53 billion by 2030.
Overhead cables are electrical lines that are suspended between poles or towers, used to transfer electrical power from one point to another, and can serve as a source of backup power. Overhead cables are constructed in different sizes and strengths depending on the voltage required for transmission. Applications for overhead cables include residential and commercial electricity distribution, high-voltage power lines for industrial use, telecommunications systems, television antennas and other broadcasting systems, railway electrification systems, and catalyst networks for electric vehicles, among others. Rising electricity consumption and establishing new power lines have been the key factors aiding the market growth. Increasing smart grid investment and the use of overhead cables for grid interconnection also elevate the cables’ demand. Susceptibility of overhead conductor lines to lightning and bad weather and their safety concerns impede product penetration. However, technological improvements in cables, the introduction of new safety standards, and the availability of safety certifications have enabled them to sustain their utility. The adoption of overhead cables for large-scale renewable energy projects is also a major factor encouraging market development.
Type: Ongoing advancements in high voltage cables to enhance durability and performance for offshore wind farms
Extra-high voltage (EHV) cables are designed for power transmission at voltages above 230 kV. These cables are essential for long-distance and large-scale power transmission networks, enabling efficient transfer of electricity across regions or countries. EHV cables minimize energy losses and are crucial in connecting power generation plants to substations or grid interconnections. High voltage (HV) cables, typically rated between 60 kV and 230 kV, are used in main electricity distribution networks to transmit power over moderate distances. They are suitable for urban and suburban power transmission where space constraints prevent the use of EHV cables. HV cables are used in industrial applications that require substantial power supply. Low voltage (LV) cables are used for electrical power distribution within localized settings, such as residential & commercial buildings. These cables are designed for voltages up to 1 kV. They are ideal for indoor wiring, street lighting, and powering electrical appliances. The demand for LV cables is driven by construction and infrastructure development activities, where the need for safe and reliable power distribution within buildings is paramount. Medium voltage cables, with ratings from 1 kV to 60 kV, are commonly used in regional distribution networks and industrial plants and for connecting renewable energy sources, including solar panels, to the grid. MV cables are preferred for applications that require higher voltage than what LV cables can provide but do not necessitate the use of HV cables.
Application: Industries prefer overhead cables that can withstand harsh environments and high temperatures
Commercial applications of overhead cables predominantly span locations such as offices, shopping malls, airports, and schools. The primary need in this segment is for a reliable, continuous power supply, along with the flexibility to support a range of electrical loads. The industrial sector, encompassing manufacturing facilities, processing plants, and heavy industries, demands overhead cables that can withstand harsh environments and high temperatures. Durability and high capacity are paramount in industrial areas. Residential overhead cables are used to supply power to residential buildings and housing complexes. The focus here is on reliability, safety, and affordability, as these cables often run across densely populated areas.
Regional Insights
The Americas overhead cable market is advanced, driven by multiple product development and expansion strategies adopted by the players to meet their increasing demand from the power and energy sector. The U.S. and Canada have initiated several power generation and grid modernization projects with government support, elevating the need for overhead cables. Europe, the Middle East, and Africa’s overhead conductor market is mature, characterized by well-established intercontinental players consistently involved in acquisitions, partnerships, and investment strategies for market development. The growing transition toward renewable energy in the EMEA has accelerated the need for robust power transmission and distribution lines. Vendors in the EMEA are also working toward launching sustainable overhead wires to strengthen their sustainability strategy and accelerate their race to net-zero CO2 emissions. The public and private sectors make considerable investments in developing microgrids to enhance local resiliency and improve the operability and stability of regional electric grids, developing a potential platform for overhead cables in the Asia-Pacific region. The Asia-Pacific region observes significant production and exports of electric conductors owing to the massive presence of raw materials and low-cost manufacturing procedures, building a strengthened platform for the overhead cable market.
FPNV Positioning Matrix
The FPNV Positioning Matrix is pivotal in evaluating the Overhead Cables Market. It offers a comprehensive assessment of vendors, examining key metrics related to Business Strategy and Product Satisfaction. This in-depth analysis empowers users to make well-informed decisions aligned with their requirements. Based on the evaluation, the vendors are then categorized into four distinct quadrants representing varying levels of success: Forefront (F), Pathfinder (P), Niche (N), or Vital (V).
Market Share Analysis
The Market Share Analysis is a comprehensive tool that provides an insightful and in-depth examination of the current state of vendors in the Overhead Cables Market. By meticulously comparing and analyzing vendor contributions in terms of overall revenue, customer base, and other key metrics, we can offer companies a greater understanding of their performance and the challenges they face when competing for market share. Additionally, this analysis provides valuable insights into the competitive nature of the sector, including factors such as accumulation, fragmentation dominance, and amalgamation traits observed over the base year period studied. With this expanded level of detail, vendors can make more informed decisions and devise effective strategies to gain a competitive edge in the market.
Key Company Profiles
The report delves into recent significant developments in the Overhead Cables Market, highlighting leading vendors and their innovative profiles. These include Alfanar Group, Apar Industries Limited, Belden Inc., Elsewedy Electric Co. S.A.E., Encore Wire Corporation, Furukawa Electric Co. Ltd., Hengtong Group Co., Ltd., KEC International Limited by RPG Group, KEI Industries Limited, Lamifil NV, Laser Power and Infra Pvt. Ltd., LS Cable & System Ltd., Lumino Industries Limited, LUMPI-BERNDORF Draht- und Seilwerk GmbH, MIDAL CABLES COMPANY B.S.C., Nexans S.A., Nirmal Group, NKT A/S, PRYSMIAN S.p.A., Riyadh Cables Group, Southwire Co. LLC, Sterlite Power, Sumitomo Electric Industries, Ltd., SWCC Corporation, Tratos Cavi S.p.A., Trefinasa, United Cable Industries Company, Versalec Cables, and ZMS CABLE GROUP.
Market Segmentation & Coverage
This research report categorizes the Overhead Cables Market to forecast the revenues and analyze trends in each of the following sub-markets:
- Type
- Extra-high Voltage
- High Voltage
- Low Voltage
- Medium Voltage
- Core Type
- Four Cores
- Single Core
- Three Cores
- Two Cores
- Conductor Type
- All Aluminium Alloy Conductors
- All Aluminium Conductor Steel Reinforced
- All Aluminium Conductors
- Aluminium Conductor Alloy Reinforced
- Application
- Commercial
- Industrial
- Residential
- Region
- Americas
- Argentina
- Brazil
- Canada
- Mexico
- United States
- California
- Florida
- Illinois
- New York
- Ohio
- Pennsylvania
- Texas
- Asia-Pacific
- Australia
- China
- India
- Indonesia
- Japan
- Malaysia
- Philippines
- Singapore
- South Korea
- Taiwan
- Thailand
- Vietnam
- Europe, Middle East & Africa
- Denmark
- Egypt
- Finland
- France
- Germany
- Israel
- Italy
- Netherlands
- Nigeria
- Norway
- Poland
- Qatar
- Russia
- Saudi Arabia
- South Africa
- Spain
- Sweden
- Switzerland
- Turkey
- United Arab Emirates
- United Kingdom
- Americas
The report offers valuable insights on the following aspects:
- Market Penetration: It presents comprehensive information on the market provided by key players.
- Market Development: It delves deep into lucrative emerging markets and analyzes the penetration across mature market segments.
- Market Diversification: It provides detailed information on new product launches, untapped geographic regions, recent developments, and investments.
- Competitive Assessment & Intelligence: It conducts an exhaustive assessment of market shares, strategies, products, certifications, regulatory approvals, patent landscape, and manufacturing capabilities of the leading players.
- Product Development & Innovation: It offers intelligent insights on future technologies, R&D activities, and breakthrough product developments.
The report addresses key questions such as:
- What is the market size and forecast of the Overhead Cables Market?
- Which products, segments, applications, and areas should one consider investing in over the forecast period in the Overhead Cables Market?
- What are the technology trends and regulatory frameworks in the Overhead Cables Market?
- What is the market share of the leading vendors in the Overhead Cables Market?
- Which modes and strategic moves are suitable for entering the Overhead Cables Market?
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