The power transmission lines and towers market is estimated to secure a CAGR of 7.8% during the forecast period. The market is likely to register a valuation of USD 30 billion in 2023 and reach USD 63.6 billion by 2033.
The Growing Interest in Adopting a Renewable Energy Mix and Increased Demand for Efficient Lines and Towers with Low Energy Losses Drive Market Growth.
Increasing power consumption and favorable government policies promoting the construction of smart grid networks boost the market outlook. A considerable increase in investments in cross-border grid networks. The rising integration of renewable energy networks throughout the world may benefit the market landscape.
A paradigm shift toward expanding the current grid infrastructure and good consumer attitudes toward integrating artificial intelligence technologies are likely to boost market growth. Furthermore, IT applications in the power industry are estimated to significantly advance smart grids, which estimated to complement the demand for efficient transmission systems.
| Attributes | Details |
|---|---|
| Market CAGR (2023 to 2033) | 7.8% |
| Market Valuation (2023) | USD 30 billion |
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Rising demand for electricity, integration of sustainable electrical networks. Moreover, demand for peak load are key factors anticipated to boost the overall market growth from 2023 to 2033.
The rising electricity demand is one of the key drivers of power transmission lines and towers market growth. Governments in both developed and emerging economies are investing in and updating urban infrastructure. Many emerging nations' smart city projects are estimated to necessitate increased power demand, driving the market.
The second factor leading to the rise of the market is the increase in peak load demand. As disposable money increases, people's living level has altered, providing them access to all the comfort-giving consumer items they need or desire to use to feel comfortable.
In other words, the increased luxury in people's lives increases the demand for peak load. Furthermore, urbanization in both developed and emerging nations is increasing peak load, thus boosting the market.
Sustainable electrical network integration is also anticipated to boost the market of power transmission lines and towers.
Several regional governments have allowed key players in the market to expand and upgrade existing power setups. Government agencies have devised long-term strategies to increase reliance on renewable energy grids, accelerating power transmission lines and tower market developments.
Slow technological evolution in developing countries, along with fluctuating steel costs, availability, and import and export restrictions, may influence the market.
The main challenge in emerging regions is that they have infrastructural problems which may limit the growth of the market. As a result, the key players in the market focus mostly on infrastructural development and urbanization rather than technical advancement.
Hydro or Power transmission towers must hold the heavy transmission conductor at a suitable height above the ground to ensure safety while saving money. As a result, transmission towers must be built to endure natural disasters and must be planned properly.
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Infrastructure and urbanization require power transmission lines and towers infrastructure investment for better and more efficient electricity transmission lines.
Also, governments in both developed and emerging economies are investing in and updating urban infrastructure, which is anticipated to push market growth. Many emerging nations' smart city projects are estimated to necessitate increased demand for power transmission lines and towers.
The market was valued at USD 21.4 billion in 2018 and is estimated to secure a valuation of USD 28.3 billion in 2022. The growing penetration of data centers and massive communication base stations has increased power consumption, increasing demand for power transmission lines and towers.
Furthermore, low labor costs and inexpensive raw materials have enticed big global corporations to establish manufacturing bases in emerging nations such as India and China. As a result, the demand for electricity and HV power transmission lines and towers grew significantly, supporting the growth of the market.
The hydro transmission is powered by electricity. As a result, it is more secure than traditional petroleum and natural gas. Historically, all motor vehicles have been fuelled by petroleum and natural gas.
It had terrible consequences for the market, as it generated numerous hazardous particles that poisoned the environment and significantly boosted total world temperatures.
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In 2020, the traditional sector is estimated to capture a significant share, estimated at around 58.69 percent. It is because of its poor tensile strength and high electrical conductivity.
In 2020, the PVC sector was anticipated to account for 47.28 percent of the market. It is owing to several qualities, including its lightweight, high mechanical strength, and fire-retardant nature.
The ultra-high-tension application segment is leading the global market. The significant attributes driving market penetration are negligible short-circuit current, minor line losses, and increased controllability.
Expansion of extra- and ultra-high-tension transmission infrastructure to meet increased energy demand in the industrial and commercial sectors may supplement the expansion of the HVDC power lines market.
The transmission lines sector is predicted to increase fast during the projected period. Increased transmission line infrastructure expenditures drive the market outlook.
The 221 kV to 660 kV sector of the market is estimated to gain traction due to continued HV electric network expansion and rising urbanization in emerging nations.
The continuing repair and rebuilding of T&D networks throughout industrialized countries may increase power transmission lines and tower market demand.
| Country | United States |
|---|---|
| Projected Share | 17.3% |
| Country | Germany |
|---|---|
| Projected Share | 4.5% |
| Country | Japan |
|---|---|
| Projected Share | 5.6% |
| Country | Australia |
|---|---|
| Projected Share | 1.0% |
| Country | China |
|---|---|
| Projected Share | 8.6% |
| Country | India |
|---|---|
| Projected Share | 9.0% |
| Country | United Kingdom |
|---|---|
| Projected Share | 4.9% |
In 2020, the market of the Middle East and Africa power transmission lines and towers was worth over USD 2 billion. Increasing technical advancements in the power industry to meet rising energy demand may strengthen the global market.
The integration of smart grid infrastructure throughout T&D network systems and favorable customer attitudes toward deploying renewable technologies are likely to benefit the regional market.
The Saudi Arabia market is estimated to exceed USD 900 million by 2028, growing at more than 3% CAGR. Strict government energy-efficiency rules and increasing renewable electricity. Such as solar and wind farms, are estimated to increase power transmission lines and tower demand throughout the country.
The United States is anticipated to dominate the global market by securing a share of 17.3% during the forecast period. Several factors driving the United States market are:
Aging Infrastructure: The rising infrastructure activities and upgradation in transmission power create huge market opportunities in the country.
Renewable Energy Integration: The country's adoption of renewable energy, such as solar and wind, creates huge market growth.
Regulatory Policies: The state and federal regulatory policies to reduce carbon emissions and promote sustainability drive the market in the United States. They are developing power transmission infrastructure for quick recovery from outages.
Essential Manufacturers: Manufacturers are developing high-voltage, innovative, and advanced power transmissions to connect with renewable energy to reduce environmental impacts.
With the increased demand for power transmission lines and towers in the global industry, market players are expected to benefit from attractive growth opportunities in the future. The following is a list of companies involved in the market of power transmission lines and towers.
Other Essential Players in the Market are:
Recent Developments in the Global Power Transmission Lines and Towers Market:
| Attribute | Details |
|---|---|
| Forecast Period | 2023 to 2033 |
| Historical Data Available for | 2018 to 2022 |
| Market Analysis | USD billion for Value |
| Key Countries Covered | United States, United Kingdom, Japan, India, China, Australia, Germany |
| Key Segments Covered | Product Type; Conductor; Insulator; Voltage; Current; Application; Region |
| Key Companies Profiled | ZTT International; Sumitomo Electric Industries; Lamifil; Bekaert; Eland Cables; Tratos; KEC International; Skipper Limited; Jyoti Structures; CG Power and Industrial Solutions; MasTec; Nexans; CTC Global; Neccon 3M; Gupta Power Infrastructure; UMPI BERNDORF ZMS Cable; Hindustan Urban Infrastructure; Midal Cables; Alfanar; CABCON India; Prysmian Group; Tropical Cable and Conductors; Sterlite Power; Galaxy Transmissions; Arrow Cables; Kelani Cables PLC; CMI Limited; Tokyo Electric Power Company Holdings; SAE Towers |
| Report Coverage | Market Forecast, Company Share Analysis, Competition Intelligence, DROT Analysis, Market Dynamics and Challenges, and Strategic Growth Initiatives |
| Customization & Pricing | Available upon Request |
The primary consumer for Power Transmission Lines and Towers is the power utility industry.
The Asia Pacific region is poised to stay attractive, projecting a USD 63.6 billion market by 2033.
The market is estimated to secure a valuation of USD 30 billion in 2023.
The market is estimated to secure a CAGR of 7.8% during the forecast period.
The renewable energy sector holds high revenue potential.
1. Executive Summary 2. Market Overview 3. Market Background 4. Global Market Analysis 2018 to 2022 and Forecast, 2023 to 2033 5. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Product 5.1. Transmission Lines 5.2. Transmission Towers 6. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Conductor 6.1. Conventional 6.2. High Temperature 6.3. Others 7. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Insulation 7.1. PVC 7.2. XLPE 7.3. Others 8. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Voltage 8.1. 132 kV to 220 kV 8.2. 221 kV to 660 kV 8.3. > 660 kV 9. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Current 9.1. HVAC 9.2. HVDC 10. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Application 10.1. High Tension 10.2. Extra High Tension 10.3. Ultra High Tension 11. Global Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Region 11.1. North America 11.2. Latin America 11.3. Europe 11.4. Asia Pacific 11.5. MEA 12. North America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 13. Latin America Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 14. Europe Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 15. Asia Pacific Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 16. MEA Market Analysis 2018 to 2022 and Forecast 2023 to 2033, By Country 17. Key Countries Market Analysis 18. Market Structure Analysis 19. Competition Analysis 19.1. ZTT International 19.2. Sumitomo Electric Industries 19.3. LAMIFIL 19.4. Bekaert 19.5. Eland Cables 19.6. Tratos 19.7. KEC International 19.8. Skipper Limited 19.9. Jyoti Structures 19.10. CG Power and Industrial Solutions 20. Assumptions & Acronyms Used 21. Research Methodology
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Power Transmission Lines and Towers Market
