According to a report recently released by technavio, the global overhead cable market is expected to increase by US $18.59 billion from 2020 to 2024, with a compound annual growth rate of nearly 5%.
The upgrading of grid infrastructure is one of the main factors to promote market growth. With the integration of analog or digital information, computer-based control and automation in smart grid, smart grid has been used more and more in many countries. The increase is mainly due to the increase of power demand and the increase of investment in smart grid. Therefore, the demand for overhead cables is intensified. With the popularity of smart grid, the demand for overhead cable will increase in the next few years.
The expanding railway network is one of the main trends in the overhead cable market and will also drive this market growth. The expansion of metropolitan areas and the growth of population have increased the demand for railway networks to improve connectivity. This creates a demand for power cables that transmit power to the railway system. The railway industry is making a lot of investment and technological progress, which stimulates the demand for the railway industry and overhead cables. Countries with large rail networks have planned to invest heavily to optimize their networks, leading to increased demand for distribution cables.
In 2019, the Asia Pacific region is the largest regional market for overhead cables in the world. During the forecast period, the growth of the overhead cable market in the region will be greatly promoted by the increase of power demand caused by population growth, rapid industrialization, urban migration and higher living standards.
During the forecast period, 68% of the market growth will come from the Asia Pacific region. China, India and Japan are the main markets for overhead cables in the Asia Pacific region. The market growth in this region will be faster than that in other regions.
In terms of voltage level, high voltage overhead cables are usually used to transmit power generated by power plants to substations and end users. With the upgrading of power transmission and transformation infrastructure, the growing power generation capacity and the increasing use of renewable energy for power generation, there is a demand for high-voltage cables. However, the market share growth of high-voltage overhead cable will be slower than that of medium voltage market.
BS 7870 Standard ABC Cable Aerial Bundled Cable Standard: BS 7870 Conductor: Aluminum Insulation: XLPE Cores: single/ multi cores Origin: China
Power Cable Single Core /3 Core 16-300 mm2 Standards :IEC/ASTM/BS/NFC/CSA/EN Voltage: 0.6/1kV Conductor: Aluminum /Copper Armour: Steel Tape /Steel Wire Insulation :XLPE/PVC Core Number: 1-5 C Origin Place: China
1.5~500 mm² 1-5 Core LV Power Cable Standards :IEC/ASTM/BS/NFC/CSA/EN Voltage: 0.6/1kV Conductor: Aluminum /Copper Armour: Steel Tape /Steel Wire Insulation :XLPE/PVC Core Number: 1-5 C Origin Place: China
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