April 17, 2024
Overhead Line Product Market

Overhead Line Product Market Riding High on Growing Grid Infra Development Projects

The overhead line product market consists of items like insulators, station posts, hardware & conductors that help in transmission of power through overhead lines. These products find usage in network systems to transmit and distribute electricity over long distances. The growing investments towards development of smart grid infrastructure globally has augmented the demand for overhead line components in recent times.

The Global Overhead Line Product Market is estimated to be valued at US$ 22.79 Bn in 2024 and is expected to exhibit a CAGR of 4.0% over the forecast period 2024 to 2031.

Key Takeaways

Key players operating in the Overhead Line Product are Murata Manufacturing Co. Ltd, Vectron International Inc., Siward Crystal Technology Co. Ltd, Kyocera Corporation, Nihon Dempa Kogyo (NDK) Co. Ltd, Seiko Epson Corp., Daishinku Corp., Hosonic Electronic Co. Ltd, TXC Corporation, Rakon Ltd and SiTime Corporation. The growing investments towards development of renewable energy sector across nations provides massive opportunities for use of overhead line products. Increasing rural electrification projects especially in developing regions of Asia Pacific and Africa are expected to boost global demand. Governments focus on strengthening transmission infrastructure will drive exports of overhead line components, facilitating global expansion of market players over coming years.

Market drivers

The key driver for the Overhead Line Product Market Size is the large scale investments happening globally towards modernization of aging power grids and development of new smart grid infrastructure. Mega projects like “One Belt One Road” initiative by China is facilitating huge development of cross border transmission lines across Asia Pacific and European nations. This is directly helping growth of overhead line product market. Additionally, the push for sustainable energy also augments demand, as renewable power projects require robust transmission network to evacuate the generated green power.

PEST Analysis

Political: Government regulations and policies related to electricity transmission and distribution will affect this market. Growing investments in upgrading existing electrical infrastructure may create opportunities.

Economic: Changing economic conditions can impact investments in electrical networks. Global economic growth would increase demand for stable and expanded power supply infrastructure.

Social: Rising population and urbanization are leading to increased demand for electricity. Growing awareness about clean and renewable energy may encourage overhead line alternatives.

Technological: Advancements in materials, designs and components are making overhead lines more durable and efficient. Greater use of automation, IoT sensors and remote monitoring can help optimize operations and maintenance. Adoption of newer technologies like carbon nanotube cables may affect demand.

Geography-Based Concentration

In terms of value, North America accounts for the largest share of the Overhead Line Product Market currently due to stable investments in the region’s electricity infrastructure. Europe is another major regional market owing to ongoing grid modernization programs. Countries like the USA, China, Japan and India have extensive existing networks and ongoing expansion projects, contributing significantly to current demand.

Fastest Growing Region

Asia Pacific is projected to be the fastest growing regional market during the forecast period. This can be attributed to large-scale infrastructure development and renewable energy integration underway across developing economies like China and India. Rapid urbanization and rising energy needs of a burgeoning middle class are driving massive investments to strengthen regional power delivery capabilities.

*Note:
1. Source: Coherent Market Insights, Public sources, Desk research
2. We have leveraged AI tools to mine information and compile it