Overhead Power Cables Market

• Growing industrialization and urbanization is driving the market growth

The Global Overhead Power Cables Market Industry experiences a surge in demand for electricity due to urbanization and industrialization. As populations grow and economies expand, the need for reliable power distribution becomes paramount. This trend is particularly evident in developing regions where infrastructure development is underway. For instance, countries in Asia and Africa are investing heavily in their electrical grids to support economic growth. This increasing demand is projected to drive the Global Overhead Power Cables Market to reach approximately 72.3 USD Billion by 2024, indicating a robust market trajectory as utilities seek to enhance their transmission capabilities.

The integration of renewable energy sources into the power grid is a significant driver for the Global Overhead Power Cables Market Industry. As countries strive to meet sustainability goals, the demand for efficient transmission of renewable energy, such as wind and solar, is increasing. Overhead power cables are essential for connecting renewable energy generation sites to the grid, facilitating the transition to cleaner energy sources. This trend is particularly pronounced in Europe and North America, where regulatory frameworks support renewable energy projects. Consequently, the market is poised for growth as utilities invest in infrastructure to accommodate this shift towards renewable energy.

Government initiatives play a crucial role in shaping the Global Overhead Power Cables Market Industry. Many nations are implementing policies aimed at upgrading and expanding their electrical infrastructure. For example, the United States has allocated significant funding for modernizing its power grid, which includes the installation of overhead power cables. Such investments not only enhance reliability but also promote sustainability by integrating renewable energy sources. As a result, the market is likely to witness substantial growth, with projections indicating a rise to 146.5 USD Billion by 2035, driven by these proactive governmental measures.

Urbanization and infrastructure development are pivotal factors influencing the Global Overhead Power Cables Market Industry. Rapid urban growth necessitates the expansion of electrical distribution networks to meet the needs of increasing populations. Cities are investing in modernizing their electrical infrastructure, which includes the installation of overhead power cables to ensure reliable electricity supply. This trend is particularly visible in emerging economies where urban centers are expanding rapidly. As a result, the market is likely to experience significant growth, driven by the need for enhanced power distribution capabilities in urban areas.

Technological advancements in cable manufacturing are transforming the Global Overhead Power Cables Market Industry. Innovations such as improved materials and manufacturing processes enhance the performance and longevity of overhead power cables. For instance, the development of high-temperature superconductors and advanced insulation materials allows for greater efficiency and reduced energy losses. These advancements not only improve the reliability of power transmission but also lower operational costs for utilities. As the industry embraces these technologies, the market is expected to grow at a CAGR of 6.63% from 2025 to 2035, reflecting the potential for increased adoption of advanced cable solutions.

By region, the study provides the market insights into North America, Europe, Asia-Pacific and Rest of the World. The North American Overhead Power Cables market area dominates the market due to the rising adoption of the renewable energy sources and the adoption of the advanced technology in the region. The US is the largest contributor for the growth of the market in North America, followed  by Canada.

Further, the major countries studied in the market report are The US, Canada, German, France, the UK, Italy, Spain, China, Japan, India, Australia, South Korea, and Brazil.

Figure 2: Overhead Power Cables Market Share By Region 2022 (USD Billion)

Source: Secondary Research, Primary Research, Market Research Future Database and Analyst Review

The Asia-Pacific Overhead Power Cables Market accounts for the second-largest market share due to the strict laws on environmental damage and increased investments in constructions and reconstruction activities in the region. Moreover, China’s Overhead Power Cables market held the largest market share, and the Indian Overhead Power Cables market was the fastest growing market in the Asia-Pacific region.

Europe Overhead Power Cables market  is expected to grow at the fastest CAGR from 2023 to 2032. This is due to the shift to the renewable energy sources and strict government regulations in the region. Further, the German Overhead Power Cables market held the largest market share, and the UK Overhead Power Cables market was the fastest growing market in the European region

Leading market players are investing heavily in research and development in order to expand their product lines, which will help the Overhead Power Cables market, grow even more. Market participants are also undertaking a variety of strategic activities to expand their global footprint, with important market developments including new product launches, contractual agreements, mergers and acquisitions, higher investments, and collaboration with other organizations. To expand and survive in a more competitive and rising market climate, Overhead Power Cables industry must offer cost-effective items.

Manufacturing locally to minimize operational costs is one of the key business tactics used by manufacturers in the global Overhead Power Cables industry to benefit clients and increase the market sector. In recent years, the Overhead Power Cables industry has offered some of the most significant advantages to cable industry.

Major players in the Overhead Power Cables market, including General Cable Technologies Corp, Ravin Group, Gulf Cables & Electrical Industries Group, Nexans SA, Ducab HV, KEC International Ltd, Shandong DingChang Tower Co Ltd, Prysmian SpA, Southwire Co LLC, and others, are attempting to increase market demand by investing in research and development operations.

Ravin Group is one of the India’s fastest growing business groups, established in the year 1950. it includes companies managing various business interest in the energy and power section. The group have wide range of solutions throughout the 5 verticals like renewable energy, manufacturing, EHV & accessories, EPC and trading services in the field of renewable, cable jointing and termination, cable laying, and etc. In March 2022, the company acquired Cable Corporation of India Ltd.

This acquisition will help the group to improve its manufacturing capacity from 250V to 400 V and produce different voltage of cables and expand the presence of company throughout the country. The Cable Corporation India is an India-based manufacturer of high voltage cables and distributes throughout the country of India.

The Gulf Cables & Electrical Industries Group is the only domestic manufacturer and supplier of power cables, control cables, overhead conduction and telecommunication cables in Kuwait, established in the year 1975.In October 2021, the Group partnered with Riyadh Cables Group Company, which is a Saudi Arabia-based producer of high voltage cables for the establishment of high voltage cables manufacturing company in Kuwait. This will assist the Riyadh Cables Group achieve the maximum benefit from the capabilities of market by diversifying the products of the company and its revenue sources in order to provide the interest and goals of the shareholders.