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Global Overhead Cables Market Analysis Report 2023: Market to Surpass $100 Billion by 2030 - The Rise of Smart Grids Brings Added Opportunities for Expanding Overhead Power Transmission Lines
Dublin, May 09, 2023 (GLOBE NEWSWIRE) -- The "Overhead Cables: Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
Global Overhead Cables Market to Reach $101.9 Billion by 2030
The global market for Overhead Cables estimated at US$65.6 Billion in the year 2022, is projected to reach a revised size of US$101.9 Billion by 2030, growing at a CAGR of 5.7% over the analysis period 2022-2030.
Low Voltage, one of the segments analyzed in the report, is projected to record a 6.6% CAGR and reach US$52.4 Billion by the end of the analysis period. Taking into account the ongoing post pandemic recovery, growth in the Medium Voltage segment is readjusted to a revised 5.3% CAGR for the next 8-year period.
The U.S. Market is Estimated at $11.5 Billion, While China is Forecast to Grow at 7.1% CAGR
The Overhead Cables market in the U.S. is estimated at US$11.5 Billion in the year 2022. China, the world's second largest economy, is forecast to reach a projected market size of US$25.6 Billion by the year 2030 trailing a CAGR of 7.1% over the analysis period 2022 to 2030.
Among the other noteworthy geographic markets are Japan and Canada, each forecast to grow at 3.5% and 4.1% respectively over the 2022-2030 period. Within Europe, Germany is forecast to grow at approximately 3.8% CAGR. Led by countries such as Australia, India, and South Korea, the market in Asia-Pacific is forecast to reach US$25.9 Billion by the year 2030.
Looking Ahead to 2023
The global economy is at a critical crossroads with a number of interlocking challenges and crises running in parallel. The uncertainty around how Russia`s war on Ukraine will play out this year and the war`s role in creating global instability means that the trouble on the inflation front is not over yet. Food and fuel inflation will remain a persistent economic problem.
Lower capital expenditure is in the offing as companies go slow on investments, held back by inflation worries and weaker demand. With slower growth and high inflation, developed markets seem primed to enter into a recession.Volatile financial markets, growing trade tensions, stricter regulatory environment and pressure to mainstream climate change into economic decisions will compound the complexity of challenges faced.
Year 2023 is expected to be tough year for most markets, investors and consumers. Nevertheless, there is always opportunity for businesses and their leaders who can chart a path forward with resilience and adaptability.
What`s New for 2023?
Special coverage on Russia-Ukraine war; global inflation; easing of zero-Covid policy in China and its `bumpy` reopening; supply chain disruptions, global trade tensions; and risk of recession.
Global competitiveness and key competitor percentage market shares
Market presence across multiple geographies - Strong/Active/Niche/Trivial
Online interactive peer-to-peer collaborative bespoke updates
Access to digital archives and Research Platform
Complimentary updates for one year
Key Attributes:
Report Attribute | Details |
No. of Pages | 545 |
Forecast Period | 2022 - 2030 |
Estimated Market Value (USD) in 2022 | $65.6 Billion |
Forecasted Market Value (USD) by 2030 | $101.9 Billion |
Compound Annual Growth Rate | 5.7% |
Regions Covered | Global |
MARKET OVERVIEW
Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2022 (E)
Year 2020 Has Been a Year of Astounding Disruption & Unbelievable Transformation
The First Vaccines Are Here! Will It Change the Existing Economic Realities? & Is it Really the Silver Bullet We Were Waiting For?
How Fast the World is Vaccinated Will Determine How Soon the Pandemic Will End
How the Energy Industry Is Impacted by the Pandemic & What's the New Normal?
Beyond the Current Challenges, The Pandemic Will Fuel Our Energy Transition
Power Transmission & Overhead Cables: Definition & Scope
Recent Market Activity
Innovations
MARKET TRENDS & DRIVERS
While Year 2020 Will Remain an Anomaly, the World's Energy Needs Will Continue to Rise & the Onus Will be On Efficient Transmission & Distribution
Supplying Cost-Effective, Reliable Electricity Will Always Be a Priority for Utilities, Making Overhead Cables a Valuable Investment
Overhead Transmission Lines Dominates the Power Distribution & Transmission Market
The Rise of Smart Grids Brings Added Opportunities for Expanding Overhead Power Transmission Lines
Global Smart Grid Market Opportunity for Years 2021, 2023 & 2024
Migration to HVDC Transmission Technology as the Future of Energy Distribution to Spur Demand for HVDC Overhead Cables
The Growing Global Opportunity in HVDC Transmission to Echo downstream Into the Overhead Cables Market
Growing Trend Towards Railway Electrification to Spur New Growth Opportunities in the Market
Huge Untapped Opportunity for Rail Electrification Brings Out India as a Lucrative Revenue Pocket for Overhead Cables in Asia-Pacific: Annual Railway Route Electrification in India (In Kilometers)
Aging Energy Infrastructure Including Transmission Lines Drives Opportunities for Overhead Cable Replacements
Spending Gaps & Deficits Highlights the Urgency of Upgrades & Modernization: Cumulative Global Infrastructure Spending Gap 2018-2040 (In US$ Billion)
Aging Infrastructure Urges the Importance of Upgrades
Innovations in Overhead Power Cables: A Review
FOCUS ON SELECT PLAYERS (Total 209 Featured)
ABB Ltd.
Encore Wire Corp.
Furukawa Electric Co. Ltd.
General Cable Technologies Corp.
KEC International Ltd.
KEI Industries Ltd.
LS Cable & System Ltd.
Nexans SA
NKT AS
Prysmian Spa
Southwire Co. LLC
Sumitomo Electric Industries Ltd.
For more information about this report visit https://www.researchandmarkets.com/r/4vj4kp
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