The market witnessed notable growth owing to rising electricity demand globally, particularly in China, due to rapid industrialization and urbanization. In developed economies, such as Europe, requirement of increasing power generation and expanding wind sector offers significant growth potential. However, fluctuating prices of metals, such as copper, aluminum, and other metals, restrain the market growth. The demand for power infrastructure is driven by growing investments in renewables’ sector, thus offering significant opportunities for growth.
The overhead installation segment accounted for the largest market share of about 57 % in 2015. Factors such as lower installation cost and easier maintenance in comparison to underground cables has led to its wider adoption, primarily in developing economies. However, the submarine installation is expected to be the fastest growing segment owing to increasing investments in the offshore wind generation technology for power generation. The underground segment is expected to grow at a notable pace on account of longer life, lower transmission losses, and limited space availability for new overhead installations.