Overhead Transmission Line, Global Market Size Forecast, Top 16 Players Rank and Market Share (Internet Services - Other Internet Services)

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Overhead Transmission Line, Global Market Size Forecast, Top 16 Players Rank and Market Share


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Overhead Transmission Line Market Summary
The global market for Overhead Transmission Line was estimated at US$ 7.42 billion in the year 2022, is projected to reach a revised size of US$ 10.17 billion by 2029, growing at a CAGR of 4.69% during the forecast period 2023-2029.

Market Drivers:
D1: The rising electricity demand is one of the key drivers of overhead power transmission lines market growth. Governments in both developed and emerging economies are investing in and updating urban infrastructure. Many emerging nations' smart city projects are estimated to necessitate increased power demand, driving the market.
D2: The second factor leading to the rise of the market is the increase in peak load demand. As disposable money increases, people's living level has altered, providing them access to all the comfort-giving consumer items they need or desire to use to feel comfortable.
D3: Sustainable electrical network integration is also anticipated to boost the market of overhead transmission lines.

Restraint:
C1: One of the major restraints hinder the growth of the Overhead Transmission Line market is the safety issues concerning overhead conductors. They can be very dangerous if not handled with care. Another factor restraining the market growth is the lack of availability of skill manpower to handle the Overhead Transmission Line of high and ultrahigh voltage.
C2: Also, the Overhead Transmission Line market faces high price volatility in varied types of cables. This will further pose supply chain gaps, which will change the Overhead Transmission Line market outlook.

Opportunity:
Rapidly increasing urbanization and commercialization together with positive surge in high tension transmission grid is expected to promote Overhead Transmission Line market growth. More focus on the assignment of HDVC transmission line to curb the cross border demand for power supply is expected to further contribute to the growth of the Overhead Transmission Line market. Feasibility, operational flexibility, low maintenance with better conductivity of the high strength Overhead Transmission Line is likely to contribute to the growth of the Overhead Transmission Line market. Use of ultrahigh-strength Overhead Transmission Line will result in reduction of energy losses during transmission. This is likely to propel the market growth of the product.

APAC is expected to witness a significant increase in demand owing to the government’s plans regarding improving infrastructural facilities. In addition, the government has also planned to introduce energy efficient transmission and distribution energy system which will not have a negative impact on the environment. China, India are increasingly investing in the development of the renewable energy projects. This will propel the need of connecting the renewable energy sources with the power grid. This will drive the demand for Overhead Transmission Line over the coming years.
In 2022, the global top five Overhead Transmission Line players account for 19.8% of market share in terms of revenue. Above figure shows the key players ranked by revenue in Overhead Transmission Line.

In terms of product application, Long Transmission is the largest application, hold a share of 43.2%,



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Last Update : Mar 15, 2024 3:07 AM
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