Asia and US to lead growth in T&D conductor market

China, India and the US will drive global growth in the market for conductors for the transmission and distribution sector over the next four years, according to a new study.

The aggregated market values of the three nations are estimated to account for 63.7 per cent of the transmission conductor market and 41 per cent of the distribution market by 2022.

GlobalData analyst Nirushan Rajasekaram said: “There is a shift in trends within the global power market, with China and India growing in stature. The large populations and domestic manufacturing might have provided the necessary critical mass to substantially influence global market trends. The expansion of the power grid is a consequence of initiatives focused on improving rural electrification and grid reliability, increasing the penetration of renewables, accommodating smart technologies, and importantly sustaining their strong economic growth.”

The report states that developed nations with established power networks are expected to focus on transitioning their power systems to reduce environmental impacts or on gradual replacement of aging assets. “Developing nations face a myriad of challenges such as changing power generation model, power theft, supply reliability, grid constraints, market reformation, electricity deficit, growing urban population, and poor utility finances, which influence changes within the power sector.”    

According to the report, connecting remote power generation with far-off load centres in countries such as China, Germany, and South Africa, and the push for an interconnected grid in the EU and Japan, “present the need for new transmission infrastructure to facilitate power supply to consumers and to maintain grid flexibility”.

Rajasekaram added: “There is a strong requirement for new grid infrastructure to support the trends taking place within the generation and consumer segments of the power sector. The economic growth in most nations is intricately connected with resource consumption such as electricity. As countries seek to improve their growth prospects, the demand for electricity and consequently the investments into the power sector will grow and drive the power transmission and distribution conductors market.”

 

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