NEW YORK, May 14, 2021 /PRNewswire/ — The global aluminum conductors market by type (AAC, AAAC, ACSR, and other aluminum conductors) and geography (APAC, Europe, North America, South America, and MEA) has been added to Technavio’s offering. The global aluminum conductors market is expected to grow by 667.27 thousand tons, at a CAGR of almost 3% during 2021-2025.
The manufacturing sector was severely impacted by the spread of COVID-19 in 2020. Most of the production units across various industries were either closed or halted, which hampered the demand and supply of aluminum conductors. However, the market is expected to recover in 2021 with the reopening of the manufacturing units and the lift of lockdowns and other restrictions.
The market is expected to be driven by factors such as the expansion and revamping of T&D networks, competitive prices and favorable properties of aluminum conductors, and the expansion of renewable power generation capacity.
The report also offers information on the upcoming trends and challenges that will influence market growth.
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Aluminum Conductors Market: Opportunities
The growing emphasis on renewable energy is attracting significant investments in wind, hydro, and solar power plants. For instance, China is planning to add 140 GW of hydropower and 120 GW of wind power capacity by 2023. Besides, rapid growth in economic and industrial activities in emerging economies is increasing the global electricity demand. In addition, the growing need for the replacement of submarine power cables is expected to create significant opportunities for aluminum conductor manufacturers during the forecast period.
Aluminum Conductors Market: Segmentation by Type
Based on the segmentation by type, the market generated maximum revenue in the AAC segment in 2020. The segment is driven by the increasing use of AACs as bus bars in substations. Also, the extensive use of AACs in metro and railway industries is fueling the growth of the segment.
Aluminum Conductors Market: Segmentation by Geography
APAC held the largest market share in 2020 and the market growth in the region is expected to be faster compared to the growth of the market in other regions. The growth of the market in APAC can be attributed to the increasing demand for electricity led by rapid urbanization and improved living standards. Also, increasing investments in the adoption of ultra-high voltage power cables and the rising emphasis on the expansion of T&D networks are contributing to the growth of the aluminum conductors market in APAC.
One of the fortune 500 companies had used the detailed research report on the aluminum conductors market and had decided to increase their market share in the APAC region which offers the highest market opportunities during the forecast period.
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Aluminum Conductors Market: Major Vendors
HELUKABEL Romania Srl
The company manufactures cables, conductors, and cable accessories and offers a comprehensive range of products such as industrial cables and conductors for various applications. Helukabel 0,6/1 kV Heluwind WK Powerline Alu Conductor is the key product offered by the company.
Apar Industries Ltd.
The company offers specialized cables for various sectors including railway, defense, solar and windmills, hybrid cables and harnesses, telecommunication, and others. The company offers TACSR Dog Conductors.
The company offers aluminum conductors of aluminum categories namely hard aluminum, 3/4 hard aluminum, and others. Each category has its dedicated level of resistivity.
Oman Aluminium Processing Industries LLC
The company is involved in the manufacture of aluminum rods, overhead line conductors, and drawn wires. The company offers the product AAC/ACSR/AAAC/ALUMINIUM ROD E.C. GRADE, 9.5mm & Aluminum rod, 9.5 mm.
Oman Cables Industry SAOG
The company offers low voltage cables, medium voltage cables, and other products. Single Core Aluminum Wire Armoured is the key product offered by the company.
Along with the market data, Technavio offers customizations as per the specific needs of companies. The following customization options are available for the aluminum conductors market report:
- Further breakdown of the market segmentation at requested regions.
Market Player Information
- Detailed analysis and profiling of additional market players, vendor segmentation, and vendor offerings.
- Know the strategies adopted by vendors during the COVID-19 Recovery Phase.
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- Market ecosystem
- Value chain analysis
- Market definition
- Market segment analysis
- Market size 2020
- Market outlook: Forecast for 2020 – 2025
Five Forces Analysis
- Five forces summary
- Bargaining power of buyers
- Bargaining power of suppliers
- Threat of new entrants
- Threat of substitutes
- Threat of rivalry
- Market condition
Market Segmentation by Type
- Market segments
- Comparison by Type
- AAC – Market size and forecast 2020-2025
- AAAC – Market size and forecast 2020-2025
- ACSR – Market size and forecast 2020-2025
- Other aluminum conductors – Market size and forecast 2020-2025
- Market opportunity by Type
- Geographic segmentation
- Geographic comparison
- APAC – Market size and forecast 2020-2025
- Europe – Market size and forecast 2020-2025
- North America – Market size and forecast 2020-2025
- South America – Market size and forecast 2020-2025
- MEA – Market size and forecast 2020-2025
- Key leading countries
- Market opportunity by geography
- Market drivers
- Market challenges
- Market trends
- Landscape disruption
- Vendors covered
- Market positioning of vendors
- Apar Industries Ltd.
- HELUKABEL Romania Srl
- Nexans SA
- Norsk Hydro ASA
- Oman Aluminium Processing Industries LLC
- Oman Cables Industry SAOG
- Prysmian Spa
- PT Voksel Electric Tbk
- Southwire Co. LLC
- Sterlite Technologies Ltd.
- Scope of the report
- Currency conversion rates for US$
- Research methodology
- List of abbreviations
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