According to a report recently released by Technavio, an international market, the global overhead power cables market size is expected to grow by $18.59 billion from 2020-2024, growing at a CAGR of nearly 5% during the period.
Recently, the world's leading market research company, "Research and Markets" (Research and Markets) issued the "2019 Brazil overhead cable market forecasting and Opportunities" report.
According to the report, due to the delay of the environmental clearance, land acquisition, and development of the electricity industry to limit the market power projects have been delayed, which also affected the demand for the transmission cable.
Over the past few years, business regulations, inelastic labor law, and policy uncertainty are negatively affecting the development of the market. However, in the next two years, the Brazilian market is expected to witness transmission cable exponential growth, then will gradually weaken.
In addition, the report also companies operating in Brazil provide strategic advice, which can open up the potential XLPE cable market in Brazil and Latin America.
The Brazilian government is moving to integrate the development of power resources, focusing on the national electricity shortage areas. In addition, the government also accelerates the development of the Amazon and other areas of traditional energy and renewable energy.
In mid-2013, a number of power projects in the Brazilian electricity regulator ANEEL after the intervention, from the second half of 2013 operational plan and put into operation a little earlier.
This promotes the conductors and transmission overhead cable demand in the second half of 2013, the same trend is expected to continue into 2014. By the end of 2016, Brazil's transmission network could increase 130 000 km, in addition, require about 500,000 tons of conductor.
Upgrading of grid infrastructure is one of the major factors driving the growth of the lan cable market. Smart grids are already increasingly used in many countries as they converge analog or digital information as well as computer-based control and automation into the grid.
The increase is mainly due to increased investment in smart grids due to the growth in electricity demand. Therefore, the demand for overhead cables has intensified. With the popularity of smart grids, the demand for overhead cables will increase in the coming years.
On the other hand, the expanding railway network is one of the major trends in the power transmission cables market and will also drive the growth of this market.
The expansion of metropolitan areas and population growth has increased the need for rail networks to improve connectivity. This creates a need for power cables that transmit power to the railway system.
The railway industry is undergoing a lot of investment and technological advancements, which has stimulated the demand for the railway industry as well as overhead cables.
Countries with large rail networks have planned to invest heavily in optimizing their networks, triggering more demand for distribution cables.
In terms of voltage level, high-voltage overhead cables are commonly used to transmit the power generated by power plants to substations and end users. Upgrades to transmission and transformation infrastructure, growing power generation capacity, and the increasing use of renewable energy generation have created a demand for high-voltage cables. However, the market share growth of high-current overhead cables will be slower than the growth of the medium-voltage market.
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