Power Transmission Lines and Towers Market is expected to reach USD 66.80 billion by 2032 – FMI
The power transmission lines and towers market was valued at USD 27.23 billion in 2021 and is expected to reach USD 66.80 billion by 2032, increasing at a 8.5% CAGR.
The growing interest in adopting a renewable energy mix and increased demand for efficient lines and towers with low energy losses will drive power transmission lines and towers market growth.
Furthermore, a considerable increase in investments in cross-border grid networks, following the rising integration of renewable energy networks throughout the world, would benefit the business picture.
The power transmission lines and towers market was slightly impacted by the COVID-19 pandemic, with a decrease in sales of power transmission lines and towers due to the delay of numerous transmission line and tower projects, which was further driven by limited investments from public and private players, as well as the restricted labor movement.
Given the reduction of COVID-19 infected patients, the power transmission lines and towers market is expected to regain its strength by the end of 2021.
Governments in both developed and emerging economies invest in and update urban infrastructure.
These factors will drive the power transmission lines and towers market. Many emerging nations’ smart cities projects will necessitate increased power demand.
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Peak load demand for power transmission lines and towers has increased because, as disposable money has increased, people’s level of living has altered, providing them access to all the comfort-giving consumer items they need or desire to use to feel comfortable.
The growing peak load demand for power transmission lines and towers will be driven by the electricity transmission cables and towers. In other words, the increased luxury in people’s lives is increasing peak load demand for power transmission lines and towers. Furthermore, urbanization in both developed and emerging nations is increasing peak load.
The developing world’s technical growth is gradual. The main challenge of the power transmission lines and towers market in emerging regions is that they have infrastructural problems, and urbanization is accelerating. As a result, electricity transmission cables and towers may be constrained.
As a result, the organisation focuses mostly on infrastructural development and urbanisation, rather than technical advancement.
To fulfil the demand for infrastructure and urbanisation, there is a growth in power transmission lines and towers investment for better and more efficient electricity transmission.
Governments in both developed and emerging economies invest in and update urban infrastructure. Many emerging nations’ smart cities projects will necessitate increased demand for power transmission lines and towers.
The ultra-high tension section of the power transmission lines and towers market leads the market in terms of product. Expansion of extra- and ultra-high-tension transmission infrastructure to meet increased energy demand in the industrial and commercial sectors would supplement the expansion of the HVDC power lines business.
According to the Application, the transmission Lines section of the power transmission lines and towers market is predicted to increase at the fastest pace over the forecast period. Increased expenditures in transmission line infrastructure are driving the business outlook.
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Key Takeaways:
- The conventional segment maintained the conductor category’s largest power transmission lines and towers market share, accounting for approximately 58.6%.
- The PVC sector accounts for 47.28% of the power transmission lines and towers market share in the insulating category.
- The voltage segment (221 kV to 660 kV) accounts for 51.25% of the power transmission lines and towers market share.
- HVDC accounts for 61.20% of power transmission lines and towers market share in the present sector.
- During the forecasted period, the ultra-high tension category accounts for the greatest CAGR of roughly 15.33% in the application segment of the power transmission lines and towers market.
- The Asia-Pacific region has the largest power transmission lines and towers market share, accounting for around 44.35%.
Competitive Landscape:
The power transmission lines and towers market study report will provide valuable insight with an emphasis on the global market. The major players in the power transmission lines and towers market are Siemens, ABB, GE, EMC, K-Line, ICOMM, CG, KEC, Aurecon, Arteche, Mastec, Sterling & Wilson.
- Nexans signed a contract for more than USD 240 million with Ariadne Interconnection, a transmission system operator, for the Greece electricity grid in May 2020. Under the arrangement, the business will design, manufacture, implant, and committee a 500 kV HVDC cable system throughout a 335-kilometer stretch.
- In October 2021, Reliance Industries Ltd’s wholly-owned subsidiary Reliance New Energy Solar Ltd agreed to buy up to a 40% stake in Sterling & Wilson Solar for Rs. 2,845 crores.
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