Expanded Aluminum Conductor Steel-reinforced Cable (ACSR) Market Growth | Compound Annual Growth Rate (CAGR) of 2.2%

In the ever-evolving landscape of renewable energy and infrastructure development, the Aluminium Conductor Steel-reinforced (ACSR) cable market is making a significant impact. This market, valued at approximately USD 3.2 billion in 2024, is projected to grow steadily at a CAGR of 2.2%, reaching around USD 4.0 billion by 2034.

The Asia Pacific region dominates this market, holding a 46.90% share with a market value of USD 1.5 billion. The region's lead is attributed to widespread infrastructure projects and rapid industrial growth. The Asia Pacific's prominence is further exemplified by companies like Apar Industries Limited, which increased its export volumes of ACSR cables in 2023, particularly to African and Southeast Asian countries.

The Bare Overhead Transmission Conductor segment of the ACSR cable market holds more than a 64.30% share, while the high voltage segment captures more than a 48.30%. This reflects the market's importance for power transmission lines, renewable energy integration, infrastructure development, and upgrading aging networks.

Notably, the ACSR cable market is becoming indispensable in the context of ongoing technological advancements and a shift towards renewable energy sources. Companies active in this market, such as Prysmian Group, Southwire Company LLC, and Nexans S.A., are expanding their production capacity and introducing new, energy-efficient products to meet the growing demand.

Prysmian Group, for instance, opened a new manufacturing facility in the United States in 2023, focusing on high-voltage transmission cables, including ACSR. Nexans S.A. launched a new "EcoDesign" range of cables in 2023, including ACSR cables with reduced environmental impact to meet the growing demand for energy-efficient and sustainable infrastructure.

The Middle East & Africa, and Latin America are also seeing gains, propelled by increasing energy needs and government efforts to improve electricity access. This is evident in the awarding of a major contract to Midal Cables to supply ACSR cables for a large-scale solar energy project in Saudi Arabia in 2023, as part of the country's Vision 2030 initiative to diversify its energy sources.

The ACSR cable market's significance is further underscored by its durability and efficiency in power transmission, particularly in the context of the world's escalating energy requirements and the push towards more sustainable energy solutions. As infrastructure projects continue to expand and old systems are upgraded, companies active in the ACSR market are likely to witness ample opportunities.

In conclusion, the Aluminium Conductor Steel-reinforced (ACSR) cable market is poised for growth, driven by the increasing demand for reliable power transmission infrastructure, the shift towards renewable energy sources, and the need for sustainable and efficient solutions.

Expanded Aluminum Conductor Steel-reinforced Cable (ACSR) Market Growth | Compound Annual Growth Rate (CAGR) of 2.2%