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Global Overhead Conductor Is Fastest Growing Segment Fueling The Growth Of Overhead Line Product Market

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Pooja Khodke
Global Overhead Conductor Is Fastest Growing Segment Fueling The Growth Of Overhead Line Product Market

The global Overhead Line Product Market is estimated to be valued at Us$ 19.78 Bn in 2023 and is expected to exhibit a CAGR Of 6.9% over the forecast period 2023 To 2030, as highlighted in a new report published by Coherent Market Insights.

Market Overview:


Overhead line products transmit electric power from generation to distribution points. Overhead lines ensure efficient transmission of bulk power over long distances with minimum power losses. Conductors, insulators, transformers and hardware are key products used in overhead power lines for bulk power transmission and distribution.

Market key trends:


One of the key trends in the overhead line product market is the rise in investment towards upgrading aging power infrastructure. Many countries globally are investing significantly in modernizing their transmission and distribution infrastructure to improve power delivery systems and ensure reliable electricity supply. For instance, the US government has allocated over $100 billion under the Infrastructure Investment and Jobs Act to upgrade the nation's electric grid and power infrastructure. This includes investments towards deployment of advanced conductors to modernize transmission lines.


Segment Analysis


The overhead line product market is segmented on the basis of product, voltage, conductor material, and region. Based on product, the market is bifurcated into conductors and fittings & fixtures. The conductors segment dominated the global market in 2022. This is primarily owing to rising installation of new transmission and distribution lines to cater to the increasing demand for power.

Key Takeaways


The Global Overhead Line Product Market Size is expected to witness high growth, exhibiting CAGR of 6.9% over the forecast period, due to increasing investments in transmission and distribution infrastructure to ensure uninterrupted power supply.

Regional analysis


Asia Pacific dominated the global overhead line product market and is expected to grow at the highest CAGR during the forecast period. This is attributed to significant investments in modernization of aging grid infrastructure and establishment of new transmission networks in countries such as India, China, Indonesia and Vietnam.

Key players


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, Skipper. Nexans and Prysmian Group accounted for major share of the global market in 2022.



Read More :  https://www.insightprobing.com/growing-renewable-energy-sector-to-boost-the-growth-of-the-overhead-line-product-market/

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In the previous forecast period, the market size was quite large, and due to the growing demand, there is a chance of it to grow up to $3,957.0 million by the end of the year 2025.

The single girder is used when there is no issue associated with hooks.

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