LONDON--(BUSINESS WIRE)--Technavio market research analysts forecast the global aluminum conductors market to surpass 4,700 thousand metric tons by 2021, according to their latest report.
The market study covers the present scenario and growth prospects of the global aluminum conductors 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.
According to Ajay Adikhari, a lead analyst at Technavio for metals and minerals research, “The global aluminum conductors market is expected to grow due to an increase in investments in infrastructure.”
Request a sample report: http://www.technavio.com/request-a-sample?report=54922
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.
Technavio chemicals and materials analysts highlight the following three market drivers that are contributing to the growth of the global aluminum conductors market:
- Expansion and revamping of T&D networks
- Competitive prices and favorable properties of aluminum conductors
- Expansion of renewable power generation capacity
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 electricity. 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 fuels. 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.
Browse Related Reports:
- Global Power Cables Market 2016-2020
- Global Electrical Conductors Market for the Power Industry 2016-2020
- Global Automotive Lightweight Materials Market 2016-2020
Do you need a report on a market in a specific geographical cluster or country but can’t find what you’re looking for? Don’t worry, Technavio also takes client requests. Please contact enquiry@technavio.com with your requirements and our analysts will be happy to create a customized report just for you.
About Technavio
Technavio is a leading global technology research and advisory company. The company develops over 2000 pieces of research every year, covering more than 500 technologies across 80 countries. Technavio has about 300 analysts globally who specialize in customized consulting and business research assignments across the latest leading edge technologies.
Technavio analysts employ primary as well as secondary research techniques to ascertain the size and vendor landscape in a range of markets. Analysts obtain information using a combination of bottom-up and top-down approaches, besides using in-house market modeling tools and proprietary databases. They corroborate this data with the data obtained from various market participants and stakeholders across the value chain, including vendors, service providers, distributors, re-sellers, and end-users.
If you are interested in more information, please contact our media team at media@technavio.com.
