Overhead Power Cables Market Overview:
Overhead Power Cables Market is projected to be worth USD 117.86 billion by 2030, registering a CAGR of 7.67% during the forecast period (2022 - 2030), The market was valued at USD 64.11 billion in 2021.
Overhead Power cables are connected to poles to send electricity to remote destinations. They are used between power stations, substations, and power transformers to send power to customer homes. The report on the global overhead power cables market by Market Research Future (MRFR) provides a broad outlook on the industry as well as impact of urbanization for the forecast period (2022-2030). The effects of the COVID-19 pandemic on the market value are discussed in high detail.
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Report Attribute/Metric
Details
Market Size
2030: USD 117.86 billion
CAGR
7.67% CAGR (2022-2030)
Base Year
2021
Forecast Period
2022-2030
Historical Data
2019 & 2020
Forecast Units
Value (USD Million)
Report Coverage
Revenue Forecast, Competitive Landscape, Growth Factors, and Trends
Segments Covered
Product Type , Voltage , Users
Geographies Covered
North America, Europe, Asia-Pacific, and Rest of the World (RoW)
Market Scope
Investments in Grid Interconnections to Influence Market Demand
Rise in grid interconnections owing to integration to renewable energy projects can drive demand for overhead power cables for safe supply of electricity. Investments in smart grids, power transmission & distribution lines, and adoption of smart energy management schemes can drive demand for overhead power cables. Huge demand for power in developing countries as well as support by respective governments can bode well for the market in the coming years.
Replacement of Legacy Infrastructure to be Beneficial to Market Growth
The huge demand for power coupled with increasing pace of industrialization can drive modernization efforts. Installation of smart grids can drive the demand for overhead power cables owing to its capacity in supplying large swathes of power over long distances.
Underground Cables to Impede Market Growth
Plans of governments to complete connectivity of substations, grids, and power poles through underground cables to prevent accidents caused by overhead cables can impede market growth. Moreover, its implementation in assuring uninterrupted power supply in urban areas can pose a challenge to market growth.
COVID-19 Impact Analysis
The COVID-19 pandemic is likely to negatively affect the overhead power cables market. This is attributed to initiatives by governments to insulate electrical wiring and protect citizens from overload of power with the help of underground cables. But relaxation of norms given to construction sites and completion of pending public works can drive the overhead power cables market growth.
Segmentation Analysis
High Voltage Power Cables to Fuel Market Revenue
High voltage power cables are expected to lead in revenue of the overhead power cables market due to extra layer of insulation in its design and ability to lower instances of power losses during transmissions. Increasing demand for power in industrial and residential areas coupled with modernization of transformers and grids can drive segment growth. HV power transmission lines can supply power in large volumes to industrial zones and information technology parks. China, Japan, Canada, the U.S., and Europe can be the biggest adopter of high voltage power cables owing to robust industrialization.
Industrial End-users to Lead in Overhead Power Cables Market
The industrial segment is expected to command demand for overhead power cables owing to setup of factories and development of industrial zones by governments to attract foreign investment. Shift of old transmission cables to high voltage cables for countries to increase their capacity to store renewable energy and maintain stable grids can drive segment growth.
Conductors to Attain Huge Demand
Conductors are expected to attain huge market demand due to plans by governments to electrify rural areas of countries. This is evident with the Brazil government’s plan for connecting high power demanding regions with newly developed power generation sources.
Regional Analysis
APAC to Dominate Global Overhead Power Cables Market
Asia-Pacific (APAC) is set to dominate the global overhead power cables market due to rapid migration of citizens to cities and increasing demand for power. Surge in construction of industrial, commercial, and residential zones as well as shift to renewable power sources can drive regional market growth. Need of power cables to transfer energy from power farms to main grids will bode well for the market.
Competitive Analysis
Finolex Cables (India), Riyadh Cables Group Company (Saudi Arabia), Nexans (France), ABB (Switzerland), NKT Cables (Denmark), BRUGG Cables (Switzerland), KEI Industries (India) Prysmian Group (Italy), General Cables (U.S), Bahra Cables Company (Saudi Arabia), Encore Wire Corporation (U.S), and Polycab India (India) are prominent players of the global overhead power cables market.
Industry Update
Pashchimanchal Vidyut Vitran Nigam Limited (PVVNL), a distribution company of the state of Uttar Pradesh, India, has been awarded a contract for installing overhead power cables for connecting 3 sub-stations.
A power distribution cable is an electrical cable, an assembly of one or more electrical conductors, usually held together with an overall sheath.
The assembly is used for transmission of electrical power.
Power cables may be installed as permanent wiring within buildings, buried in the ground, run overhead, or exposed.In the last several years, global market of Power Distribution Cables develop rapidly, with an average growth rate of 9.85%.
In 2017, global revenue of Power Distribution Cables is nearly 74.7 billion USD.Power Distribution Cables is widely used in overland, underground and submarine.
The most proportion of Power Distribution Cables is overland, and proportion in 2017 is about 42.36%.Download FREE Sample of this Report @ https://www.grandresearchstore.com/report-sample/global-power-distribution-cables-2019-2024-629According to this study, over the next five years the Power Distribution Cables market will register a 7.5% CAGR in terms of revenue, the global market size will reach US$ 130000 million by 2024, from US$ 90700 million in 2019.
In particular, this report presents the global market share (sales and revenue) of key companies in Power Distribution Cables business, shared in Chapter 3.This report presents a comprehensive overview, market shares, and growth opportunities of Power Distribution Cables market by product type, application, key manufacturers and key regions and countries.This study considers the Power Distribution Cables value and volume generated from the sales of the following segments:Segmentation by product type: breakdown data from 2014 to 2019, in Section 2.3; and forecast to 2024 in section 11.7.HVMVLVSegmentation by application: breakdown data from 2014 to 2019, in Section 2.4; and forecast to 2024 in section 11.8.OverlandUndergroundSubmarineThis report also splits the market by region: Breakdown data in Chapter 4, 5, 6, 7 and 8.AmericasUnited StatesCanadaMexicoBrazilAPACChinaJapanKoreaSoutheast AsiaIndiaAustraliaEuropeGermanyFranceUKItalyRussiaSpainMiddle East & AfricaEgyptSouth AfricaIsraelTurkeyGCC CountriesThe report also presents the market competition landscape and a corresponding detailed analysis of the major vendor/manufacturers in the market.
