Optical Fiber Composite Overhead Ground Wire (OPGW) Market Size, Share, and Industry Analysis, By Type (Layer Stranding Structure OPGW, Central Tube Structure OPGW), By Application (Below 66KV, 66KV~110KV, 110KV~220KV, 220KV~330KV, 330~500KV, More than 500KV), Regional Forecast From 2024 To 2031

OPTICAL FIBER COMPOSITE OVERHEAD GROUND WIRE (OPGW) MARKET REPORT OVERVIEW

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The global optical fiber composite overhead ground wire (OPGW) market size is expected to be USD 672.7 million in 2022 and the market is projected to touch USD 990 million by 2031, exhibiting a CAGR of 4.4% during the projected period. In the market study, our analysts have considered optical fiber composite overhead ground wire (OPGW) players such as ZTT, Fujikura, NKT Cables, Tongguang Cable, Shenzhen SDG, Furukawa,LS Cable & System, Jiangsu Hongtu, Taihan, Sichuan Huiyuan, Elsewedy Cables, Tratos, J-Power Systems are the top companies operating in the optical fiber composite overhead ground wire (OPGW) market.

The global COVID-19 pandemic has been unprecedented and staggering, with optical fiber composite overhead ground wire (OPGW) market experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels.

The optical fiber composite overhead ground wire (OPGW) serves two purposes. It is designed to replace conventional static / protection / surface cables in the overhead transmission lines, but it also includes optical fibers that can be utilized for telecommunications. It can endure the mechanical stresses imposed on aerial wires by environmental factors like wind and ice, and it can also handle electrical faults in the power line by providing a route to earth without harming the sensitive optical fibers within the cable.

COVID-19 Impact: Supply and Lockdown Limitations to Impede Market Advancement

Coronavirus has had a negative impact on the growth of many businesses, including the activities of mining and transporting. Regional governments around the world levied shutdown, causing business owners to see a reduction in the demand for the wires in the second and third quarters of 2020.

With the decrease in demand, manufacturers or industrialists have pursued out ways to reach the hospital or medical sector and government concessions in order to increase their product sales in the third and fourth quarters of 2020. The reopening of initiatives and medical facilities has cleared the way for the wires manufacturers in the market, and growing demand is anticipated to reach at greater levels during the estimated timeframe. Therefore, making the fibre composite overhead ground wire to reach at greater heights.

LATEST TRENDS 

"Transportation Sector to Stimulate Market Development "

As the transportation sector modernises highway, rail, and aerospace systems, the requirement to enhance and update communication network leads to much more robust networks that are capable of managing, and transporting progressively greater amounts of information over longer distances. Municipal governments and private providers are rapidly adopting optical fibre composite overhead ground wire (OPGW) as the framework facilities capable of transmitting information more quickly and consistently than traditional networks. All while staying safe from electrical stimulation and interference.

OPTICAL FIBER COMPOSITE OVERHEAD GROUND WIRE (OPGW) MARKET SEGMENTATION 

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• By Type

Based on type; the market is divided into layer stranding structure OPGW, central tube structure OPGW

Layer stranding structure OPGW type is the leading part of the type segment.

• By Application

Based on the application; the market is divided into below 66KV, 66KV~110KV, 110KV~220KV220KV~330KV, 330~500KV, more than 500KV

Below 66KV are the leading part of the application segment.

DRIVING FACTORS 

"Increasing Broadcasting Activities to Aid Market Expansion "

The advantages of optical fibre composite overhead ground wire (OPGW) are more relevant in no other industry than the broadcast market. There has never been a greater title to real programming, interactive features, and higher-resolution viewing than now. As technology evolves, fibre optics provides broadcasters with the pathways needed to develop these technological advances. The inherent characteristics of fibre optics, including such large bandwidth, luminous velocity, and increasing reliability through cable construction, have demonstrated that fibre optic cabling and accessibility is a vital part in telecast system design.

"Complete Eradication of Accidents and Cost Decrement Features to Foster Industry Progress "

Mining activities are difficult these days. With ever-increasing governing regulatory requirements and a volatile industry, the mining sector is continually searching for ways to cut operations and maintenance costs while increasing efficiencies and, most notably, helping to keep their workers safe. Communication networks for this market must be of the highest quality. Mining companies need network solutions that can assist them decrease costs and boost productivity while accomplishing or exceeding financial and operational targets. Optical fibre composite overhead ground wire (OPGW) helps to eradicate most of the problems that are linked to the mining activities.

RESTRAINING FACTORS

"Specialised Equipment Necessities to Hinder Market Advancement "

Because these cables are challenging to merge, there will be beam loss within the cable. The deployment of such cables is inexpensive. They are not as strong as wires. Optical fibre composite overhead ground wire (OPGW) typically necessitates the use of specialised equipment. While fitting, these cables are extremely vulnerable. These cables are softer than copper wires. To ensure optical fibre composite overhead ground wire (OPGW) transmission, special devices are required. The installation of fibre optic cable is costly. To install optical fibre composite overhead ground wire (OPGW), expensive splicing machineries and trained specialists are required.

OPTICAL FIBER COMPOSITE OVERHEAD GROUND WIRE (OPGW) MARKET REGIONAL INSIGHTS 

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"Increasing Medical Needs of the People to Foster Market Advancement in North America "

North America dominates the optical fiber composite overhead ground wire (OPGW) market, accounting for much more than 36.0% of overall sales as a large number of broadcasting, mining and transporting activities takes place every minute. The ageing people or population is a driving segment that calls for medical care in North America region.  The above market demands are met by minimally invasive surgical techniques which employ innovative in-vitro and endoscopic advanced technologies that necessitates small, flexible, and manageable catheters and probes. Optical fibre composite overhead ground wire (OPGW) provides a comprehensive range of capabilities, including cables, assemblies, and services, to meet the requirements of today’s modern medical device manufacturers. Thus, making the optical fiber composite overhead ground wire (OPGW) to be in demand throughout the region.

KEY INDUSTRY PLAYERS

"Notable Players in the Industry to Promote Market Expansion "

The optical fiber composite overhead ground wire (OPGW) industry's growth was significantly influenced by the tactics employed by market participants in recent years, such as extensions. The report provides details and information on the companies and their interactions with the optical fiber composite overhead ground wire (OPGW)market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding machinery and equipment. Other criteria considered for this market are the firms that develop and provide new products, the areas in which they operate, mechanisation, innovative techniques, making the most money, and using their products to have a large social impact. This analysis examines the global and regional effects of the outbreak mostly on optical fiber composite overhead ground wire (OPGW) market growth. The study describes the optical fiber composite overhead ground wire (OPGW) market share features, and market growth by type, industry, and customer sector. Furthermore, it presents a complete examination of commercialization factors prior to and following the Covid-19 pandemic.

LIST OF TOP OPTICAL FIBRE COMPOSITE OVERHEAD GROUND WIRE (OPGW) COMPANIES

• ZTT (China)
• Fujikura (Japan)
• NKT Cables (Denmark)
• Tongguang Cable (China)
• Shenzhen SDG (China)
• Furukawa (Japan)
• LS Cable & System (China)
• Jiangsu Hongtu (China)
• Taihan (South Korea)
• Sichuan Huiyuan (China)
• Elsewedy Cables (Egypt)
• Tratos (England)
• J-Power Systems (Japan)

REPORT COVERAGE

The optical fiber composite overhead ground wire (OPGW) market growth study provides a thorough examination of the current market trends, driving variables, consumption patterns, key player methodologies, product involvement, and positioning strategy. The report's market dynamics and influencing forces provide customers with a fresh perspective when making plans the blueprint for their goods and services, taking different socioeconomic factors into account.