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With the increase in electricity demand, the ampacity calculation based on the dynamic thermal rating (DTR) technology is increasingly significant for assessing and improving the power transfer capacity of the existing overhead conductors. However, the DTR models now available present some inadequacies in measurement techniques related to wind speed. Therefore, it is essential to propose a new model instead of wind speed measuring in DTR technology. In this paper, the influence analysis of various weather parameters on the conductor ampacity is carried out by using the real weather data. Based on the analysis, it is confirmed that the impact of wind speed is significant, especially in the case of the low wind speed. Moreover, an equivalent heat transfer (EHT) model for DTR technology is proposed instead of wind speed measuring. For this EHT model, the calculation of conductor ampacity is realized through investigating the correlation of heat losses between the heating aluminum (Al) ball and conductor. Finally, combined with the finite element method (FEM), the EHT model proposed in this paper is verified by the Institute of Electrical and Electronic Engineers (IEEE) standard. The results indicate that the error of the EHT model is less than 6% when employing the steady thermal behavior of the Al ball to calculate the ampacity. The EHT model is useful in the real-time thermal rating of overhead conductors. It can increase the utilization of overhead conductors while also avoiding the limitation of the existing measurement techniques related to wind speed.