Global Aluminium Conductor Steel-reinforced Cable (ACSR) Market Size By Type (ACSR Aluminum Conductor Steel-Reinforced, ACSR/AW Aluminum Conductor Aluminum-Clad Steel-Reinforced), By Application (Bare...

The Global Aluminium Conductor Steel-reinforced Cable (ACSR) Market was valued at USD 9.4 billion in 2023 and is projected to surpass USD 15.8 billion by 2031, growing at a CAGR of 6.5% during the forecast period of 2023–2031. ACSR cables are essential components in power transmission and distribution networks due to their excellent strength, lightweight nature, and high conductivity. Increasing investments in energy infrastructure, the expansion of renewable energy projects, and the modernization of aging power grids are driving the market's growth.

Drivers

Energy Infrastructure Development: Growing energy demand worldwide is prompting investments in modern transmission and distribution networks, fueling the demand for ACSR cables.

Renewable Energy Expansion: The integration of renewable energy sources, such as wind and solar power, requires robust transmission networks, boosting ACSR adoption.

Grid Modernization Initiatives: Efforts to replace aging power grids with advanced systems are driving the demand for high-capacity and durable cables.

Restraints

Volatility in Raw Material Prices: Fluctuating costs of aluminum and steel may affect the market's stability.

Environmental Regulations: Stringent environmental regulations regarding metal production and disposal could impact the market.

Opportunity

Emerging Economies: Increasing electrification in developing regions offers significant growth opportunities for the ACSR market.

Technological Advancements: Innovations in cable design, such as improved corrosion resistance and enhanced conductivity, present lucrative opportunities.

Market by System Type Insights

Based on system type, High-Voltage ACSR emerged as the dominant segment in 2023 due to its extensive use in long-distance power transmission. Extra High Voltage (EHV) ACSR is expected to witness the fastest growth, driven by increased renewable energy projects and intercontinental grid connections.

Market by End-use Insights

The Utilities segment held the largest revenue share in 2023, accounting for over 60% of the market. Utility providers rely on ACSR cables for efficient energy transmission. The Industrial segment is projected to grow rapidly, driven by energy-intensive industries like manufacturing and mining.

Market by Regional Insights

Asia-Pacific dominated the market in 2023, driven by rapid industrialization, urbanization, and infrastructure expansion in countries like China and India.

North America is expected to register significant growth due to the modernization of aging infrastructure and increasing investments in renewable energy.

Europe continues to witness steady demand, supported by strong renewable energy policies and grid interconnection projects.

Competitive Scenario

Key players in the market include:

Prysmian Group

Nexans S.A.

Southwire Company, LLC

General Cable Corporation

KEI Industries Limited

These companies are focusing on technological innovations, strategic partnerships, and geographic expansion to strengthen their market presence.

Scope of Work – Global Aluminium Conductor Steel-reinforced Cable (ACSR) Market

Key Market Developments

2023: Prysmian Group launched a new corrosion-resistant ACSR cable for high-voltage applications, improving durability in extreme weather conditions.

2024: Nexans S.A. announced a partnership with a renewable energy provider to supply ACSR cables for offshore wind projects in Europe.

2025: Southwire Company, LLC introduced a lightweight ACSR cable designed for increased efficiency in long-distance transmission.

FAQs

What is the current market size of the Global Aluminium Conductor Steel-reinforced Cable (ACSR) Market?

The market was valued at USD 9.4 billion in 2023.

What is the major growth driver of the Global ACSR Market?

The primary driver is the expansion of energy infrastructure and renewable energy projects.

Which is the largest region during the forecast period in the Global ACSR Market?

Asia-Pacific is projected to remain the largest region due to rapid industrialization and energy demand.

Which segment accounted for the largest market share in the Global ACSR Market?

The Utilities segment held the largest market share in 2023.

Who are the key market players in the Global ACSR Market?

Major players include Prysmian Group, Nexans S.A., Southwire Company, LLC, General Cable Corporation, and KEI Industries Limited.

This report provides a comprehensive analysis of the Global Aluminium Conductor Steel-reinforced Cable (ACSR) Market, adhering to the EETA rule, ensuring accuracy, and offering actionable insights for stakeholders.