The growth graph of overhead conductor market stands exponentially high as on present-day, courtesy – the robustly growing need for uninterrupted electricity supply without power deficit. In the face of rapidly changing electricity trends, it is vividly discernible that the extensive demand for uninterrupted power in conjunction with the efforts undertaken toward low energy consumption for ecological balance would have a rather profound impact on overhead conductor market outlook.
One of the principal factors that would lead to reduced and optimized energy consumption is the upgradation of existing transmission networks spread across the globe. As the enhancement of transmission lines and older grids gains mainstream precedence, conductors of all categories – conventional, high-temperature, and others, would claim preferential demand, eventually augmenting the revenue graph of overhead conductor market.
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Having potentially recognized the dangers lurking amidst increased energy consumption in a scenario plagued with environmental concerns, numerous regulatory and governmental bodies across the globe have been taking an apprehensive interest in overhead line upgradation, that would irrefutably boost the overall overhead conductor market. For instance, the ESB International’s AMS (Asset Management Services) unit undertakes responsibility for maintaining and upgrading the ESB transmission network between a voltage range of 110 kV to 400 kV, while simultaneously managing the refurbishment of existing transmission lines.
Despite the presumed heavy expenditure, it would be dire imbecility to deny the fact that a major network upgradation at a global scale is on the cards – a game-changing event that would transform the dynamics of overhead conductor industry outlook. As per a report published by a leading research firm, the current depreciated valuation of the U.S. electric grid alone comes close to USD 2 trillion, while its refurbishment and upgradation would require close to a mammoth USD 5 trillion – this humongous project alone would heavily propel U.S. overhead conductor market.
The massive disbursement notwithstanding, the United States seems to have strengthened its resolve to be included among the top energy-efficient countries in the world, on the grounds of which the government plans to invest heavily in the replacement of electric infrastructure, subsequently creating a barrage of lucrative opportunities for overhead conductor market players.
Given the acute gravity of the current energy scenario in terms of environmental safety, overhead conductor industry companies have been attempting to come up with an assortment of products incorporated with highly advanced tech innovations, that would help simplify the refurbishment and retrofitting process.
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Additionally, companies have been reaching out to one another in order to establish joint ventures and strategic partnerships that would help them harness each other’s expertise and product line while simultaneously providing reciprocal benefits to one another with regards to consolidating their positions in overhead conductor market.
For instance, VINCI Energies, one of the most prominent players in overhead conductor industry, has recently secured a pivotal contract that would enable the firm to solely design and construct a new power transmission infrastructure in Scotland, in addition to finalizing a joint venture with the British Morgan Sindall company. Valued at GBP 30 million, this project would involve the installation of 73 transmission towers and 160 km of conductors in rather remote areas. Post completion, the new transmission line is expected to reinforce the high-voltage transmission grid in Scotland and subsequently contribute toward onshore wind generation surrounding Tomatin.
Powered by extra high voltage underground cables and an all-new transmission line, the project is certain to have a lucrative impact on the regional overhead conductor market size, given how extensively conductors would be deployed in the aforementioned refurbishment.
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The contribution of regional governments toward driving the profitability scale of overhead conductor market is indeed commendable. The European Energy Efficiency Directive (2012/27/EU), for instance, takes note of operational efficiency improvement potential, grid energy losses, efficiency, and related parameters in order to improve the efficacy of the current grid infrastructure.
The Federal Energy Regulatory Commission (FERC) also holds the authority to conveniently regulate the financial aspects of transmission lines, and has long since, been attempting to chalk out a convenient flexible, affordable program for grid refurbishment. In essence, it would be appropriate to claim that the urgent requirement for transmission line retrofitting, aided by a favorable regulatory frame of reference and numerous government initiatives, is certain to propel overhead conductor market size, slated to surpass a valuation of USD 29 billion by 2024.