The Overhead Line Product Market is estimated to be valued at US$19.78 Billion 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
Overhead lines carry electrical power from the electric power generation site to electrical substations located near the customers served. They comprise of many components such as conductors, insulators, dampers, spacers, hardware and optical ground wires. Overhead line products help in efficient and reliable transmission of power over long distances in a cost-effective manner. They support the growth of industrialization and infrastructure development globally.

Market key trends
The key factor driving the growth of overhead line product market is various government initiatives for upgrading aging transmission infrastructure. To meet growing power demand and replace old systems, governments across regions are focusing on modernization and expansion of transmission networks. For instance, the government of India allocated US$ 13 billion for transmission infrastructure development under phase II of the Integrated Power Development Scheme. Additionally, increasing investments in renewable energy generation facilities which require strong transmission systems to evacuate power is also contributing to Overhead Line Product Market growth. According to estimates, more than US$ 80 billion will be invested globally in transmission systems between 2020-2030. Furthermore, rising use of bundled conductors, advanced conductors like ACCC and HTLS conductors offering advantages like higher capacity and efficiency is promoting adoption of overhead lines.

Porter’s Analysis

Threat of new entrants: New players need high capital investment to start operations in this market. Established players enjoy economies of scale.

Bargaining power of buyers: Buyers have moderate bargaining power. Buyers can negotiate on prices but have limited alternatives.

Bargaining power of suppliers: Suppliers have low to moderate power. Raw materials are commoditized but compliance to quality standards is important.

Threat of new substitutes: Threat is low as overhead line products have few direct substitutes for power transmission.

Competitive rivalry: Intense as major players compete on technology, capacity and global footprint.

SWOT Analysis

Strengths: Established global footprint and technical expertise. Compliance to quality and safety standards provides an advantage.

Weaknesses: High capital intensity of operations increase risks. Supply chain disruptions can impact projects timelines and costs.

Opportunities: Growth in renewable energy integration and upgrading of T&D infrastructure in developing nations provide opportunities.

Threats: Changing regulatory environment and policies impact projects. Trade barriers and geopolitical risks affect global operations and supply chains.

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 upgrading aging power infrastructure and expanding transmission networks. The market size is projected to reach US$ 32.76 Billion By 2030.

Regionally, Asia Pacific dominates the overhead line product market currently and is expected to maintain its lead over the forecast period. This is mainly attributed to the massive investments planned in China, India to develop renewable energy capacity and build new transmission projects to enable internal and cross border power trading.

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. Major players are investing in R&D to develop advanced composite core technologies, automation, digitalization to enhance their manufacturing and project execution capabilities.

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