Selbyville, Delaware, July 20, 2021 (GLOBE NEWSWIRE) --
The overhead conductor market value is set to cross USD 950 million by 2027 as reported in the latest study by Global Market Insights Inc. on account of increasing government focus toward the installation of a sustainable grid network and integration of renewable energy sources. Aggregate technical & commercial losses along with the ongoing refurbishment of existing electrical infrastructures are set to propel product demand.
The 221 kV to 660 kV overhead conductor segment will gain an appreciable momentum due to the rapid deployment of high voltage units to cater to the increasing demand across industries. The growing population and ongoing migration across sub-urban areas have considerably led to an increase in peak load demand, fostering the industry potential. Favourable consumer tendencies toward the adoption of a sustainable energy mix along with ongoing electrification reforms will augment the business landscape.
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Ongoing reforms pertaining to energy efficiency coupled with the integration of smart networking technologies will positively sway the ultra-high strength overhead conductor segment. Shifting focus toward the revamping and upgrading of grid networks along with the integration of advanced grid components will foster product demand. The ongoing expansion of cross-border transmission networks coupled with the adoption of micro-grid systems will fuel the industry share.
Some prime findings of the overhead conductor market report include:
- The overhead conductor industry is growing due to increasing investments from local utility-aided entities.
- Shifting trends toward the advancement and expansion of overhead electric lines will propel product penetration.
- Key players functional across the overhead conductor market are Sumitomo Electric Industries, Nexans, Prysmian Group, Alfanar Group, and LS Cable & System
- HVDC conductors are experiencing a significant increase in installation owing to their key features including lower losses, better controllability, effective asynchronous interconnection, and negligible short-circuit current pose.
Browse key industry insights spread across 790 pages with 1,419 market data tables & 47 figures & charts from the report, “Overhead Conductor Market Share By Product (Conventional {ACSR, AAAC, ACAR, AACSR, AAC}, High Temperature {Tal, ZTAl}, Others {ACFR, ACCR, ACCC, CRAC, Gap Conductors}), Voltage (132 kV to 220 kV, 221 kV to 660 kV, > 660 kV), Rated Strength (High Strength, Extra High Strength, Ultra-High Strength), Current (HVAC, HVDC), Application (High Tension, Extra High Tension, Ultra-High Tension), Industry Analysis Report, Regional Outlook, Application Potential, Competitive Market Share & Forecast, 2021 – 2027” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/overhead-conductor-market
The global economy is severely impacted due to COVID-19. Despite the resumption of operations, many nations are experiencing challenges in resuming their manufacturing capacity and industry participants are enduring the effects of shortages in distribution & supply networks. Favourable government initiatives to fast-track operations and continue the deployment of planned projects will positively impact the business scenario.
The Europe overhead conductor market is set to witness over 2.5% CAGR through 2027. Expansion of transmission networks which is subjected to rapid commercialization and industrial expansion will complement the industry scenario. Supportive policy interventions to serve electricity generation, distribution, and transmission networks along with increasing energy demand will further stimulate business expansion.
Browse the Toc of this report @ https://www.gminsights.com/toc/detail/overhead-conductor-market
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.