Optical Ground Wire (OPGW) Market Size, Share, Growth, And Industry Analysis, By Type (Central Tube Structure OPGW, Layer Stranding Structure OPGW), By Application (Below 66KV, 66KV〜110KV, 110KV〜220KV, 220KV〜330KV, 330KV〜500KV, Above 500KV), Regional Forecast to 2028

Report Overview

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The global optical ground wire (OPGW) market size was USD 598.8 million in 2021. The global COVID-19 pandemic has been unprecedented and staggering, with optical ground wire (OPGW) experiencing lower-than-anticipated demand across all regions compared to pre-pandemic levels. As per our research, the market is expected to reach USD 779.4 million in 2028, exhibiting a CAGR of 3.8% during the forecast period. The sudden rise in CAGR is attributable to the market's growth and demand returning to pre-pandemic levels once the pandemic is over. 

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COVID-19 Impact: Interruption in Supply Chains to Decline Market Share 

The eruption of coronavirus illness (COVID-19) did act as a humongous restriction mostly on optical ground wire (OPGW) market in 2020, as supply chains have been interrupted because of international limitations and utilization has declined due to global government lockdowns. COVID-19 is an extremely contagious disease characterized by flu-like symptoms such as fever, coughing, and difficulty breathing. The virus was discovered in Wuhan, and has since spread throughout the world, which include West Europe, Asia, North America. Covid-19 has had a significant impact on a number of industries, one of which is the power and energy industry. A shutdown, boundary shutdown, lockdowns, followed by other forms of suppression have only exacerbated the situation. To cope with this pandemic scenario, all travel and outdoor activities were suspended. Because of health and safety concerns, all of the individuals were staying at home, which has a negative impact on the optical ground wire (OPGW)market and on every other market for healthcare.

Latest Trends

"Power and Energy to Intensify Market Magnification "

Optical ground wire (OPGW) is mainly employed in the electricity industry, where they are installed in the safest position of the power line, shielding vital conductors from lightning strikes. This creates an appropriate communication path for both internal and third-party communications. High demand for effective electricity and fast broadband speed limits is expected to drive optical ground wire (OPGW) market growth.

Segmentation

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• By Type Analysis

According to type, the market can be segmented into central tube structure OPGWlayer stranding structure OPGW

Central tube structure OPGW is the leading part of the type segment

• By Application Analysis

According to application, the market can be segmented into below 66KV, 66KV〜110KV, 110KV〜220KV, 220KV〜330KV, 330KV〜500KV, above 500KV

Below 66KV is the leading part of the application segment

Driving Factors

"Advancement in Electricity Distribution Networks to Boost Market Share "

Optical ground wire (OPGW) is created to replace conventional static/earth/shield wires on overhead lines, with the additional benefit of comprising optical fibers for telecommunication purposes. Advancement of electricity distribution networks for household, commercial, industrial, and railway purposes is a significant contributor to optical ground wire (OPGW) market share.

"Media and Entertainment Industry to Aid Market Forwarding "

Furthermore, because people remained at home in the covid pandemic, the industry of media and entertainment has grown, which is anticipated to provide new advancements for optical ground wire (OPGW) share. Furthermore, the intensification of telecommunications network for high bandwidth transmission limit is now being accomplished by optical ground wire by service providers having followed planned or prepared investments and dispersion programs across a broad demographical region is said to accelerate the product's growth rate.

Restraining Factors

"Installation Risk to Deplete Market Advancement "

To prevent network disruptions when implementing a new OPGW or expanding a current one, the fibers must be properly sliced. The output will suffer if the fibers are not properly connected. Moreover, because of the small and compact size of the cable, it is easily cut or broken during setup or any building activities. As a result, restoration, backup, and survivability must all be considered. The above-mentioned side effects can cause a hindrance in the market growth.

Regional Insights

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"Plans for Future Modern Cities to Foster Market Growth in Asia Pacific and North America "

Expansion in industrialization and a higher proportion of line installation in urban, semi-urban, and rural areas in South East Asian developing countries are driving optical ground wire (OPGW) market demand.  Plans for future modern cities in India are expected to open up new possibilities for the market prevailing in Asia Pacific. India is the third-largest consumer and producer of electricity in the world. Another factor that makes India appealing to the optical ground wire (OPGW) market is the increasing amount of power lines and their safety.

North America is known for having a robust internet network with a highest rate of data transmission per second. The region, which ranked first in the world with an actual gross connection speed of 121 Mbps, will keep going to provide wholesome opportunities for growth for the market. 

Key Industry Players

"Key Players Focus on Partnerships to Gain a Competitive Advantage "

Prominent market players are making collaborative efforts by partnering with other companies to stay ahead of the competition. Many companies are also investing in new product launches to expand their product portfolio. Mergers and acquisitions are also among the key strategies used by players to expand their product portfolios.

The analyst provides a comprehensive picture of the market through the study, synthesis, and summarization of data from various sources, as well as an examination of important variables such as financial gain, sales prices, competition, and promotions. It identifies the key industry influencers and presents various market facets. The information provided is thorough, reliable, and the result of extensive primary and secondary research. The market report provides a comprehensive competitive landscape as well as an in-depth vendor evaluation methodology and analysis based on both qualitative and quantitative studies to accurately forecast market growth.

The reports cover important advances with in market, as well as inorganic and organic growth strategies. Various companies are concentrating on organic business expansion such as product announcements, product approvals, and other things like patents and events. Acquisitions, partnerships, and collaborations were among the inorganic growth strategies observed in the market. The above activities have paved the way for market participants to expand their business and customer base. With the growing demands for filter products in the international market, market participants in the market are expected to benefit from substantial growth opportunities in the near future.

List of Market Players Profiled

• ZTT (China)
• Fujikura (Japan)
• TGC (Santa Clara)
• SDGI (U.S.)
• Prysmian Group (Italy)
• Furukawa (Japan)
• LS Cable & System (South Korea)
• Jiangsu Hongtu (China)
• Taihan (South Korea)
• Sichuan Huiyuan (China)
• Elsewedy Cables (Egypt)
• Tratos (U.K.)
• J-Power Systems (India)

Report Coverage

The 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 market. The data is gathered and published through appropriate research, technological advancements, expansions, and expanding healthcare. 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 the market. The study describes the market share features, and market growth by type, industry, and customer sector.

This research profiles a report with extensive studies that take into description the firms that exist in the market affecting the forecasting period. With detailed studies done, it also offers a comprehensive analysis by inspecting the factors like segmentation, opportunities, industrial developments, trends, growth, size, share, restraints, etc. This analysis is subject to alteration if the key players and probable analysis of market dynamics change.