Aluminium Conductor Steel-reinforced Cable (ACSR) Market Revenue to Surpass USD 16.29 billion by 2032
Aluminium Conductor Steel-reinforced Cable (ACSR) Market Summary
In 2022, the market value of Aluminum Conductor Steel Reinforced Cable (ACSR) reached USD 10.5 billion, and it is projected to increase to USD 16.29 billion by 2032, with a compound annual growth rate (CAGR) of 5% during the forecast period. This market expansion can be attributed to several factors, including the growing adoption of renewable energy sources, rapid urbanization in emerging economies, and increased energy demand. ACSR cables are favored in power transmission and distribution due to their high tensile strength and reliability, making them well-suited for long-distance transmission lines.
The unique qualities of ACSR cables, such as their excellent strength-to-weight ratio, resistance to corrosion, and efficient conductivity, have led to their increased usage in recent years. The demand for ACSR cables arises from the necessity for reliable and efficient power transmission across various applications, including telecommunications, railways, and overhead power transmission lines. Additionally, the expanding requirement for a dependable power supply in rural areas is contributing to the demand for ACSR cables.
Furthermore, the anticipated growth in market revenue during this period is expected to be driven by increased investments in the renewable energy sector. Governments worldwide are promoting the use of renewable energy sources like wind and solar power, which is stimulating the development of new transmission and distribution infrastructure. Consequently, there is a growing need for ACSR cables within the renewable energy industry.
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Aluminium Conductor Steel-reinforced Cable (ACSR) Market: Key Players
The global market for Aluminium Conductor Steel-reinforced Cable (ACSR) is marked by intense competition, with a small number of key players holding a significant portion of the market's revenue share. These companies are actively pursuing various strategic endeavors, including mergers and acquisitions, partnerships, collaborations, and the introduction of new products, as part of their efforts to fortify their positions in the market. Among the prominent enterprises operating in the Aluminium Conductor Steel-reinforced Cable (ACSR) sector are:
• General Cable Technologies Corporation
• Prysmian Group
• Nexans SA
• AFL Global
• Southwire Company, LLC
• Tongda Cable Co., Ltd.
• Taihan Electric Wire Co., Ltd.
• Sumitomo Electric Industries, Ltd.
• KEI Industries Limited
• CMI Limited
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