PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1438046
PUBLISHER: Stratistics Market Research Consulting | PRODUCT CODE: 1438046
According to Stratistics MRC, the Global High Temperature Overhead Conductor Market is accounted for $210.47 million in 2023 and is expected to reach $345.11 million by 2030 growing at a CAGR of 7.3% during the forecast period. High-temperature overhead conductors are advanced electrical transmission components designed to withstand elevated temperatures, reducing thermal sag and increasing the efficiency of power transmission. Typically made from innovative materials such as aluminium-zirconium-tin alloys, these conductors exhibit enhanced thermal stability and conductivity. They find applications in overhead power transmission lines, especially in regions with high temperature variations or heavy electrical loads.
Rising global demand for electricity
With rapid population growth, urbanisation, and increasing industrialization, the need for reliable and efficient power transmission infrastructure has surged. High-temperature conductors play a crucial role in meeting this demand by enhancing the capacity and performance of electrical grids. As countries strive to electrify remote areas and expand urban centres, the demand for electricity continues to rise. Moreover, this growing demand for electricity acts as a catalyst, driving the adoption and development of advanced conductors in the global market.
Infrastructure upgrade challenges
Retrofitting existing power transmission infrastructure to accommodate high-temperature conductors involves complex logistics, potential disruptions, and additional costs. The retrofit process may require downtime and coordination with various stakeholders, deterring utilities from embracing the technology. Also, the need for comprehensive planning and potential uncertainties in adapting the infrastructure can hinder the seamless integration of high-temperature conductors. Thereby, it will impede market demand.
Smart grid development
As smart grids become integral to modernising power distribution, high-temperature conductors play a crucial role in ensuring efficient and reliable electricity transmission. These conductors support real-time data monitoring, reduce energy losses, and enhance grid resilience. Furthermore, with the increasing emphasis on smart grid technologies globally, the high-temperature overhead conductor market is well-positioned to provide advanced solutions that align with the evolving requirements of intelligent and sustainable power networks, presenting a lucrative opportunity for growth and innovation in the power transmission sector.
Alternative technologies
The emergence of competing materials or technologies with cost-effective solutions may divert market share from high-temperature conductors. Innovations such as superconductors, advanced composites, or alternative alloys may offer comparable or superior performance, impacting the demand for traditional high-temperature conductors. Thus, it is a significant barrier to the market growth.
Covid-19 Impact
The COVID-19 pandemic is causing supply chain disruptions, labour shortages, and economic uncertainties that have impacted the industry. Construction and infrastructure projects, key drivers for the market, experienced delays, affecting demand. Travel restrictions hindered international trade, affecting raw material availability. However, the market demonstrated resilience with its increasing focus on reliable power infrastructure. Post-pandemic recovery efforts, government stimulus packages, and a renewed emphasis on upgrading utility networks contributed to the market's rebound.
The ZTAl segment is expected to be the largest during the forecast period
The ZTAl segment is estimated to hold the largest share. ZTAl conductors offer superior performance in demanding environments, enhancing power transmission efficiency. The alloy's unique composition, combining aluminium with zirconium and tin, allows for increased thermal stability, reducing sag and power losses during peak loads. As a key innovation in the industry, ZTAl contributes to the development of more resilient and efficient transmission infrastructure, addressing the evolving needs of the power sector in the quest for reliable and sustainable energy solutions.
The residential segment is expected to have the highest CAGR during the forecast period
The residential segment is anticipated to have lucrative growth during the forecast period. As urbanisation grows, there is an increasing need for efficient and reliable power supply to residential areas. High-temperature conductors play a vital role in enhancing the capacity and efficiency of power transmission, addressing the rising demand for electricity in homes. These conductors enable reduced energy losses, ensuring a stable and uninterrupted power supply to households. Furthermore, it underscores the importance of advanced overhead conductors in meeting the evolving energy requirements of residential communities and promoting sustainable and reliable residential power distribution.
Asia Pacific commanded the largest market share during the extrapolated period due to increasing demand for efficient power transmission infrastructure. Rising urbanisation, industrialization, and energy consumption drive the need for advanced conductors with high-temperature capabilities. Factors such as government initiatives for grid expansion, renewable energy integration, and technological advancements contribute to market expansion. Moreover, with a focus on enhancing power transmission efficiency, the Asia-Pacific market is poised for continued development to meet the region's growing energy demands.
North America is expected to witness profitable growth over the projection period. The region's emphasis on renewable energy integration and grid reliability fuels the demand for high-temperature conductors. Factors such as increased investments in smart grid technologies, government initiatives for clean energy, and the expansion of utility projects contribute to market expansion. The United States and Canada are key players in shaping the market landscape and fostering innovation in transmission solutions.
Key players in the market
Some of the key players in the High Temperature Overhead Conductor Market include Schlumberger Ltd, Flowserve Corporation, Baker Hughes, Weatherford, EBARA CORPORATION, Grundfos Holding A/S, WILO SE, Crompton Greaves, Gorman-Rupp Pumps, Atlas Copco AB, Sulzer Ltd, Halliburton, Novomet, Tsurumi Manufacturing Co., Ltd., Prysmian Group, NKT, Nexans, Southwire Company, Sumitomo Electric Industries, Ltd. and CTC Global Corporation.
In June 2021, Elsewedy completed the acquisitions of Validus Engineering and 95% of PT CG Power Indonesia. Validus Engineering is a power transformer manufacturer based out of Pakistan whereas PT CG Power Indonesia is a power transformer provider across Indonesia.
In January 2020, LS Cable & System completed the construction of its first African cable plant located in Egypt. The company came into a joint venture with MAN, a local cable manufacturer in Cairo. This joint manufacturing facility will produce overhead transmission lines, which are installed on the pylons between substations and power plants.