The global aluminum conductors market size is expected to grow by 609.69 thousand tons during 2020-2024. The report also provides the market impact and new opportunities created due to the COVID-19 pandemic. We expect the impact to be significant in the first quarter but gradually lessen in subsequent quarters – with a limited impact on the full-year economic growth.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20200709005451/en/Technavio has announced its latest market research report titled Global Aluminum Conductors Market 2020-2024 (Graphic: Business Wire) Request challenges and opportunities influenced by COVID-19 pandemic @Request a free sample report The expansion and revamping of T&D networks is expected to drive the growth of the aluminum conductors market during the forecast period. In North America, more than half of the transformers and transmission lines are nearing their replacement dates. The US had invested approximately USD 50 billion in 2016 for replacements, upgrading, and expansion activities across the country. In India, initiatives like "Smart Cities" are resulting in a major renovation in infrastructure and other sectors. India is also 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 electricity. In addition, the country's outdated electrical infrastructure is quite unreliable, with many areas of the country facing major power cuts. This can be attributed to significant T&D losses as well as inadequate generation capacity. As a result of these factors, T&D networks are being revamped. This in turn, will drive the demand for aluminum conductors, as aluminum is comparatively cost-effective. Its price is also expected to remain stable during the forecast period. To learn more about the global trends impacting the future of market research, download a free sample: https://www.technavio.com/talk-to-us?report=IRTNTR43903 As per Technavio, the expansion of renewable power generation capacity will have a positive impact on the market and contribute to its growth significantly over the forecast period. This research report also analyzes other significant trends and market drivers that will influence market growth over 2020-2024. Aluminum Conductors Market: Expansion of Renewable Power Generation Capacity In 2019, China and the US, each accounted for about 15% of the global power generation capacity. China's capacity is expected to grow by 3.5% YoY until 2035. 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 fuels. Many end-users have embraced alternative forms of energy instead of depending on power generators that operate on fossil fuels. Solar power, wind power, and other forms of renewable energy are becoming increasingly popular. In 2019, the total wind power installed across Europe was more than 12.8 GW. Out of this, 11.8 GW was installed in the EU. The onshore installed capacity was 10.3 GW, while the offshore installed capacity was 1.5 GW. Germany, Sweden, Poland, Turkey, and the UK are adding wind energy systems into their overall power generation indexes. The increase in the demand for renewable sources of energy is increasing the demand for aluminum conductors globally. “Factors such as the competitive prices and favorable properties of aluminum conductors, and the growth of the high voltage and extra high voltage cables will have a significant impact on the growth of the aluminum conductors market value during the forecast period,” says a senior analyst at Technavio. Register for a free trial today and gain instant access to 17,000+ market research reports Technavio's SUBSCRIPTION platform Aluminum Conductors Market: Segmentation Analysis This market research report segments the aluminum conductors market by type (AAC, AAAC, ACSR, and Other aluminum conductors) and geography (APAC, Europe, North America, South America, and MEA). The APAC region led the aluminum conductors market in 2019, followed by Europe, North America, South America, and MEA respectively. During the forecast period, the APAC region is expected to register the highest incremental growth due to factors such as the increase in investments in T&D networks, and the rapid development in the commercial and industrial infrastructure sectors in the region. Technavio’s sample reports are free of charge and contain multiple sections of the report, such as the market size and forecast, drivers, challenges, trends, and more. Request a free sample report Some of the key topics covered in the report include: Market Drivers Market Challenges Market Trends Vendor Landscape Vendors covered Vendor classification Market positioning of vendors Competitive scenario About Technavio Technavio is a leading global technology research and advisory company. Their research and analysis focus on emerging market trends and provides actionable insights to help businesses identify market opportunities and develop effective strategies to optimize their market positions. With over 500 specialized analysts, Technavio’s report library consists of more than 17,000 reports and counting, covering 800 technologies, spanning across 50 countries. Their client base consists of enterprises of all sizes, including more than 100 Fortune 500 companies. This growing client base relies on Technavio’s comprehensive coverage, extensive research, and actionable market insights to identify opportunities in existing and potential markets and assess their competitive positions within changing market scenarios.
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