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Technavio publishes a new market research report on the global aluminum conductors market from 2017-2021. (Graphic: Business Wire)
The market study covers the present scenario and growth prospects of the global market for 2017-2021. The report also lists various types of aluminum conductors including aluminum conductor steel reinforced (ACSR), all aluminum alloy conductor (AAAC), all aluminum conductor (AAC), as the three major segments. The global aluminum conductors market for ACSR is expected to show the highest incremental growth during the forecast period.
Technavio’s sample reports are free of charge and contain multiple sections of the report including the market size and forecast, drivers, challenges, trends, and more.
Expansion and revamping of T&D networks
In North America, more than half of the transformers and transmission lines are nearing their replacement dates. The US is planning to invest approximately USD 50 billion by 2016 in replacement, upgrading, and expansion activities.
In India, initiatives like "Smart Cities" will result in a major renovation in infrastructure and other sectors. India is one of the biggest consumers of electric energy after the US and China. With rapid industrialization and urbanization in the country, there will be more demand for . The investment in the power sector in India will reach around USD 250 billion by 2020. These factors will boost the demand for aluminum conductors.
Competitive prices and favorable properties of aluminum conductors
Though copper has better conductivity properties than aluminum, there is a possibility that aluminum will replace copper in T&D applications in the future. This is because aluminum is cheaper and does not experience as much volatility in price as copper.
“With the advent of harder aluminum alloys that have as much tensile strength as copper, aluminum is successfully being used as a conductor material in various end-use applications such as low voltage transformers,” says Ajay.
Expansion of renewable power generation capacity
Most of the significant power generation capacity expansion activities across the world are happening in the renewable energy sector. More countries are gradually moving toward the use of renewable sources of energy such as wind and solar to meet their carbon emission goals and to reduce dependency on fossil . Solar power, wind power, and other forms of renewable energy are becoming increasingly popular.
Germany, Sweden, Poland, Turkey, and the UK are adding wind energy systems into their overall power generation indexes. In 2013, these countries had cumulative wind power capacity of 21.86 GW. The share of renewables in gross final energy consumption in Europe in 2004 was 8.3%; it increased to 15% in 2013. Thus, these developments will boost the growth of the aluminum cables and conductors market.
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SOURCE: Technavio Research
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PUB: 12/12/2016 11:43 AM/DISC: 12/12/2016 11:43 AM