Overhead Cables Market Size Worth $134.37 Billion By 2032 | CAGR: 7.3%

The global overhead cables market size is expected to reach USD 134.37 billion by 2032, according to a new study by Polaris Market Research. The report “Overhead Cables Market Share, Size, Trends, Industry Analysis Report, By Type (Low Voltage, Medium Voltage, and High Voltage); By Application; By Region; Segment Forecast, 2023 - 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.

Rising proliferation for modernization and upgradation of the existing overhead cable infrastructure and growing advancements in technology resulting in the development of various new high-performance materials, increased power carrying capabilities, and enhanced insulation along with the expansion of smart cities and rising electrification of rural areas across the world, are prominent factors expected to boost the market growth at rapid pace.

Moreover, higher penetration for retrofitting of the existing infrastructure with overhead cables mainly for the better energy management and smart grid implementation and higher investments in research & development activities for innovating new technologies with enhanced features and characteristics, are also among the major factors projected to contribute significantly to the market growth.

For instance, in February 2023, Transgrid, unveiled its latest technology mainly aimed at reducing the emissions up to 90% and saving money through simplifying the overall process for recycling aged or old transmission lines and gain higher returns.

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There has been a rising penetration towards the grid modernization initiatives and the adoption of smart grid technologies across the globe, as smart overhead cables with embedded sensors and communication capabilities are being widely deployed to monitor real-time grid conditions, enabling predictive maintenance and optimizing energy distribution, which in turn, anticipated to generate huge revenue and growth opportunities in the near future.

In the recent years, the implementation and incorporation of HVDC technology is continuously rising and gaining huge traction particularly for long-distance power transmission due to its lower power losses and higher efficiency compared to traditional alternating current systems available in the market. Thereby, the demand and need for HVDC overhead cables is increasing as countries seeking to interconnect power grids and transmit electricity across regions. Furthermore, various major countries across the world are exploring the cross-border power interconnections in order to optimize energy resources and enhance the energy security, that have paved the way for greater adoption of overhead cables, as they help in facilitating large-scale power exchange between neighboring nations.

Overhead Cables Market Report Highlights

• Low voltage segment accounted for largest market share in 2022, mainly due to their significant use as they offer energy-efficient and reliable power distribution
• Residential segment is projected to grow at highest growth during the anticipated period, owing to increased need for electricity in residential applications
• North America region dominated the global market with largest share in 2022, on account of robust presence of advanced power distribution network and infrastructure
• The global key market players include Alan Wire Company, Gulf Cables & Electrical Industries Group, General Cable Technologies, Amphenol Corporation, and Ducab HV

Polaris Market Research has segmented the overhead cables market report based on type, application, and region:

Overhead Cables, Type Outlook (Revenue - USD Billion, 2019 - 2032)

• Low Voltage
• Medium Voltage
• High Voltage

Overhead Cables, Application Outlook (Revenue - USD Billion, 2019 - 2032)

• Residential
• Utility
• Commercial
• Industrial

Overhead Cables, Regional Outlook (Revenue - USD Billion, 2019 - 2032)

• North America

• U.S.
• Canada

• Europe

• Germany
• UK
• France
• Italy
• Spain
• Russia
• Netherlands

• Asia Pacific

• China
• India
• Japan
• South Korea
• Indonesia
• Malaysia

• Latin America

• Argentina
• Brazil
• Mexico

• Middle East & Africa

• UAE
• Saudi Arabia
• Israel
• South Africa

Overhead Cables Market Report Scope