Asia Pacific Conventional Overhead Conductor Market was valued at USD 209.6 million in 2022 and is poised to register around 5.1% CAGR from 2023 to 2032, due to the ongoing refurbishment and replacement of aging grid infrastructure with new transmission lines. For instance, in January 2023, China's State Grid Corporation announced to invest USD 77 billion into improving transmission infrastructure for the year 2023. Furthermore, the growing priority placed on deploying robust, high-strength transmission lines is a response to concerns regarding the transformation of aging energy infrastructure into a more secure, sustainable, and reliable energy resource.
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Ongoing efforts aimed at modernizing the power grid, which encompass grid energy storage, research and development in smart grid technologies, and the incorporation of advanced solutions, are collectively shaping a competitive industrial environment. In addition, there is a significant transition towards the incorporation of information technology across the electricity sector, which is set to facilitate the adoption of smart grid infrastructure, ultimately bolstering the overall prospects of the industry.
|Asia Pacific Conventional Overhead Conductor Market Size in 2022:
|USD 209.6 Million
|2023 to 2032
|Forecast Period 2023 to 2032 CAGR:
|2032 Value Projection:
|USD 358.8 Million
|Historical Data for:
|2019 to 2022
|No. of Pages:
|Tables, Charts & Figures:
|Product, Voltage, Application, and Region
|Pitfalls & Challenges:
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Heightened apprehensions regarding energy security and grid stability, coupled with the increasing investments directed at building resilient electrical networks to meet the rising demand for electricity, are poised to enhance the industry's outlook. The substantial surge in energy consumption, fueled by a thriving industrial sector, particularly in emerging economies, will drive the further expansion of high-voltage grid networks.