Overhead Conductor Industry - Regional Synopsis
North American Market Forecast
North American overhead conductor market is poised to hold a share of 36% during the forecast period. The US government's initiative to switch out outdated copper overhead wire with contemporary aluminium overhead wire has increased demand in recent years. To achieve energy-efficient solutions, there is a growing emphasis on adopting smart grid technologies and rebuilding and upgrading existing transmission lines. These developments are expected to drive increased product deployment throughout the region. As per a report, approximately 118 million advanced (smart) metering infrastructure (AMI) installations were owned by US electric utilities in 2021; this represents over 70% of all electric meter installations. Moreover, the region has experienced a noteworthy surge in the need for sustainable power solutions as a result of mounting worries about greenhouse gas emissions and the need for energy-efficient substitutes.
European Market Statistics
Overhead conductor market in Europe is expected to hold a significant share of 28% during the forecast period. The region's need for sustainable power solutions has increased due to growing concerns about green carbon emissions and the growing requirement for energy-efficient solutions. Also, a growing number of transmission projects and strict government requirements are anticipated to drive the regional industry share. For instance, with funds of USD 746 million, the EuroAsia interconnector project is the primary recipient. Its goal is to create the first energy interconnection between Cyprus and the European grid. Three energy transmission projects are part of the construction project: With the completion of the massive EuroAsia interconnector project, Greece and Cyprus' transmission networks will be connected, so bringing an end to Cyprus' energy isolation. Furthermore, the region's adoption of high-voltage, long-distance transmission increased demand for overhead cables.
