Overhead Cables Market Size & Growth Analysis to 2030

The global overhead cables market size was accounted to generate significant revenue of over USD 64 billion in 2021 and is expected to register a significant CAGR of around 6% during the forecast period from 2022 to 2028. The growing power transmission and distribution network around the world is a major factor to drive the market growth. Furthermore, the growing adoption of the smart grid and the integration of HVDC technology are further expected to fuel the market growth. Moreover, the aging energy infrastructure and the growing electrification of railway infrastructure are projected to propel the market growth.

Market Drivers:

Increasing electricity demand and grid expansion: The growing global demand for electricity, driven by population growth, urbanization, and industrialization, fuels the need for grid expansion and infrastructure development. Overhead cables are widely used for transmitting and distributing electricity over long distances. The increasing electricity demand and grid expansion projects drive the demand for overhead cables.

Cost-effectiveness and ease of installation: Overhead cables offer cost advantages compared to underground cables, making them a preferred choice in many scenarios. Overhead cables require less initial investment and are easier to install and maintain. They are particularly suitable for rural areas and areas with challenging terrain, where the cost of underground cable installation is prohibitively high. The cost-effectiveness and ease of installation of overhead cables contribute to their market growth.

Flexibility and adaptability to varying environments: Overhead cables provide flexibility and adaptability to different environmental conditions. They can be installed in diverse terrains, including mountainous regions, coastal areas, and dense forests. Overhead cables can also withstand extreme weather conditions, such as high winds, storms, and ice, with appropriate design and construction. The flexibility and adaptability of overhead cables make them a reliable solution for electricity transmission.

Rapid infrastructure development in emerging economies: Emerging economies are experiencing rapid infrastructure development across various sectors, including power generation, transmission, and distribution. Overhead cables play a crucial role in meeting the electricity demands of these growing economies. The installation of overhead cables enables faster electrification, rural electrification initiatives, and the expansion of power grids in emerging economies, contributing to the market growth.

Integration of renewable energy sources: The increasing adoption of renewable energy sources, such as wind and solar power, requires the integration of these sources into the existing power grid. Overhead cables provide a reliable and cost-effective solution for transmitting electricity generated from renewable sources to consumption centers. They enable the interconnection of remote renewable energy generation sites and facilitate the integration of distributed energy resources. The integration of renewable energy sources drives the demand for overhead cables.

Upgradation and modernization of aging power infrastructure: Many countries are focusing on the upgradation and modernization of their aging power infrastructure to improve reliability, reduce transmission losses, and enhance grid efficiency. Overhead cables are often selected for replacing outdated transmission lines due to their cost-effectiveness and ease of installation. The upgradation and modernization initiatives in the power sector drive the demand for overhead cables.

Technological advancements in overhead cable design: Continuous technological advancements in overhead cable design have improved their performance, efficiency, and reliability. Manufacturers are developing innovative conductors, insulating materials, and protective coatings to enhance the strength, capacity, and durability of overhead cables. These advancements result in reduced transmission losses, improved resistance to environmental factors, and increased capacity for power transmission.

Government initiatives and supportive policies: Governments worldwide are implementing initiatives and policies to improve electricity access, grid reliability, and energy efficiency. These initiatives often include investment in transmission and distribution infrastructure, which drives the demand for overhead cables. Supportive policies, such as renewable energy targets, rural electrification programs, and grid expansion plans, further boost the market for overhead cables.

Market Snapshot:

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Market Insights:

The global overhead cables market is bifurcated into core type, voltage, application, and geography. On the basis of voltage, the market is further segmented into low voltage, medium voltage, and high voltage. The low voltage segment overhead cables segment dominated the global market in 2021 and estimated to hold the largest revenue share of around half of the market by the end of the analysis period. The increasing adoption of renewable energy resources is a major factor to drive the segment growth. Furthermore, the increasing industrialization and growing urbanization in developing economies are further anticipated to fuel the segment growth over the forecast period.

On the basis of application, the global overhead cables market is bifurcated into residential, utility, commercial, and industrial. The expansion of transmission and distribution network due to the growing demand of electricity is expected to drive the market growth over the forecast period. The rapid growth in urbanization and growing industrialization is expected to fuel the residential and industrial segment at a significant growth rate over the forecast period. On the other hand, the increasing adoption of digitalization and the growth in commercial infrastructure is expected to drive the commercial application segment.

The overhead cables comprehensive study analyzes industry trends, market size, competitive analysis, and market forecast – 2022 to 2028. Research Corridor report provides detailed premium insight into the global market and reveals the potential revenue streams, commercial prospects, market drivers, challenges, opportunities, issues, and events affecting the industry. In addition, the report has a dedicated section covering market forecasts and analysis for leading geographies, profiles of major companies operating in the market and expert opinion obtained from interviews with industry executives and experts from prominent companies.

The overhead cables market research report presents the analysis of each segment from 2019 to 2028 considering 2020 as the base year for the research. The compounded annual growth rate (CAGR) for each respective segment is calculated for the forecast period from 2021 to 2027.

Historical & Forecast Period

• 2019-20 – Historical Year
• 2021 – Base Year
• 2022-2028 – Forecast Period

Market Segmentation:

By Core Type:

• Four Cores
• Three Cores
• Two Cores

By Voltage:

• Low Voltage
• Medium Voltage
• High Voltage

By Application:

• Residential
• Utility
• Commercial
• Industrial

By Region:

• North America
• Europe
• Asia Pacific
• Latin America
• Middle East & Africa

Regional Analysis:

Geographically, the Asia Pacific dominated the global overhead cables market in 2021 and is estimated to hold the largest revenue share of around half of the market by the end of the analysis period. The growing demand for electricity is a major factor to increase transmission and distribution significantly, which is a major factor to drive the market growth in the region. Furthermore, the rapid growth in urbanization and the growing industrialization in developing economies are further expected to fuel market growth over the forecast period. Moreover, the increasing adoption of smart grids and the proliferation of distribution networks in rural areas are projected to propel market growth in the Asia Pacific.

Competitive Assessment:

Some of the major market players operating in the global overhead cables market are Prysmian Group, Nexans, NKT Cables, Encore Wire Corporation, and ABB. Companies are exploring markets through expansion, new investment, the introduction of new services, and collaboration as their preferred strategies. Players are exploring new geography through expansion and acquisition to gain a competitive advantage through joint synergy.

Key Companies:

• Prysmian Group (Italy)
• Nexans (France)
• NKT Cables (Denmark)
• Encore Wire Corporation (U.S)
• ABB(Switzerland)
• General Cables (U.S)
• Finolex Cables (India)
• BRUGG Cables (Switzerland)
• Bahra Cables Company (Suadi Arabia)
• Polycab India (India)
• KEI Industries (India)

Key Questions Answered by Overhead Cables Market Report

• Global overhead cables market forecasts from 2022-2028
• Regional market forecasts from 2022-2028 covering Asia-Pacific, North America, Europe, Middle East & Africa, and Latin America
• Country-level forecasts from 2022-2028 covering 15 major countries from the regions as mentioned above
• Overhead cables submarket forecasts from 2022-2028 covering the market by type, by voltage, by application, and geography
• Various industry models such as SWOT analysis, Value Chain Analysis about the market
• Analysis of the key factors driving and restraining the growth of the global, regional, and country-level overhead cables markets from 2022-2028
• Competitive Landscape and market positioning of top 10 players operating in the market