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Overhead Line Products Market is Estimated To Witness High Growth

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Sachin Sadgir
Overhead Line Products Market is Estimated To Witness High Growth

The global Conductor and Fittings Market is estimated to be valued at US$ 19.78 Bn in 2022 and is expected to exhibit a CAGR of 6.9% over the forecast period 2023-2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:

Conductor and fittings are important components of overhead transmission and distribution lines that transmit electricity. They provide low-impedance transmission paths and mechanical support for power transmission over long distances. Conductors are usually made of aluminum or copper and fittings help join conductor segments.

Market key trends:

Conductors made from advanced materials are gaining popularity as they reduce transmission losses. Aluminum composite core conductors (ACCC) and high temperature low sag (HTLS) conductors allow increased power transfer capacity. Advancements in 3D printing technology are enabling customized conductor fittings with complex geometries for robust joints. Adoption of smart wires integrated with fiber optic cables facilitates real-time monitoring of transmission lines. Use of drone-based inspections for condition assessment of ageing overhead lines has improved grid reliability and safety.

Segment Analysis

The Overhead Line Product Market is segmented into conductors, fittings & fixtures, insulators, and others. Among these, the conductors segment dominated the market in 2023 and is expected to maintain its dominance over the forecast period. This is due to the large-scale use of conductors like aluminum conductors and all-aluminum alloy conductors across established and new transmission and distribution lines globally.

Key Takeaways

The global overhead line product market is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing investments in transmission and distribution infrastructure development globally.

Regional Analysis

Asia Pacific dominated the overhead line product market in 2023 and is estimated to maintain its strong position throughout the forecast period. This is attributed to significant investments by countries like China and India toward strengthening their power transmission infrastructure to meet rising electricity demand.

Key Players Analysis

Key players operating in the overhead line product market are Nexans, Prysmian Group, General Cable, Sumitomo Electric Industries, Encore Wire, Finolex Cables, KEI Industries, Polycab Wires, APAR Industries, Sterlite Technologies, Gupta Power, Diamond Power Infrastructure, Kalpataru Power Transmission, SAE Towers, ZTT, Midal Cables, J Power Systems, Super Solutions, KEI Power, and Skipper. Nexans and Prysmian Group capture a major share due to their diverse product portfolios and global presence.

Read More : https://www.rapidwebwire.com/overhead-line-product-market-opportunities-demand-analysis/

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