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Power Transmission Lines and Towers Market Size
Power Transmission Lines and Towers Market was valued at USD 36.9 billion in 2023 and will grow at 4.8% CAGR from 2024 to 2032. Exponential & continuous energy demand coupled with rapid integration for renewable energy sources to generate electricity is driving the market growth. Rapid urbanization and industrialization in developing countries are driving the demand for electricity that requires the expansion of power transmission infrastructure to ensure a reliable and stable electricity supply.
Global governments are making significant investments in bolstering their power transmission infrastructure to cater to escalating electricity needs and to bolster economic development. These efforts frequently involve subsidies, grants, and pro-private sector policies. The emphasis lies on modernizing transmission and distribution systems, and expanding smart grid networks, all pivotal in driving this growth.
| Report Attributes | Details |
|---|---|
| Base Year: | 2023 |
| Market Size in 2023: | USD 36.9 Billion |
| Forecast Period: | 2024 to 2032 |
| Forecast Period 2024 to 2032 CAGR: | 4.8% |
| 2032 Value Projection: | USD 55.9 Billion |
| Historical Data for: | 2021 - 2023 |
| No. of Pages: | 100 |
| Tables, Charts & Figures: | 12 |
| Segments covered: | Product, Conductor, Insulation, Voltage, Current, Application, & Region |
| Growth Drivers: |
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| Pitfalls & Challenges: |
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Power Transmission Lines and Towers Market Trends
The shift towards renewable energy sources like wind, solar, and hydro requires new transmission lines and towers to connect these often-remote generation sites to the main grid, driving market growth. Innovations in transmission technology, such as High Voltage Direct Current (HVDC) systems and smart grid technology, are enhancing the efficiency and reliability of power transmission, necessitating upgrades and new installations. Additionally, expanding the grid to rural and remote areas in developing countries is a significant growth driver.
Power Transmission Lines and Towers Market Analysis
Based on product, the conventional power transmission lines & towers industry is anticipated to surpass USD 18 billion by 2032. The adoption of power transmission lines and towers is being driven by their high current carrying capacity, favourable sag behaviour, and robust mechanical properties. The traditional power transmission lines and towers industry is set for steady growth due to continuous investments in power infrastructure, the necessity for grid modernization, and the rising integration of renewable energy sources.
Based on voltage, the > 220 kV to 660 kV voltage range industry will grow at a rate of over 5% through 2032. The industrial sector's surging inclination for electricity, alongside the expanding extra high-tension transmission networks in mining, oil, and gas, is set to bolster business growth. Moreover, the swift rise in retrofitting and refurbishing aging transmission networks, especially in regions like North America and Europe, will amplify industry dynamics.
The Asia Pacific power transmission lines and towers market is anticipated to exceed over USD 25 billion by 2032. The region is experiencing rapid growth due to increasing electricity demand from expanding urban areas and industrial sectors, particularly in China and India. Government initiatives for rural electrification, infrastructure development, and integration of renewable energy are major growth drivers.
The market is driven by efforts to modernize aging infrastructure and integrate renewable energy sources. The U.S. government’s initiatives to promote clean energy and grid reliability are significant contributors to market growth. In addition, Canada’s focus on connecting remote areas and enhancing grid resilience also drives demand.
Power Transmission Lines and Towers Market Share
Bekart, CTC Global Corporation, Elsewedy Electric, Lamifil, Nexans, Prysmian Group, Sterlite Power, ZTT are among the dominant players in the power transmission lines and towers industry. These companies are focusing on innovation, strategic partnerships, and investments in new transmission projects to maintain their competitive edge in the market.
Power Transmission Lines and Towers Market Companies
Major key players operating across the power transmission lines & towers industry are:
- APAR Industries Ltd.
- Bekaert
- CABCON India Private Limited.
- CMI Limited
- CTC Global Corporation
- Eland Cables
- Elsewedy Electric
- Gupta Power Infrastructure Ltd.
- KEI Industries Limited
- Kelani Cables
- LAMIFIL
- LS Cable & System
- Midal Cables Ltd.
- Nexans
- Prysmian Group
- Riyadh Cables Group Company
- Southwire Company, LLC
- Sterlite Power
- Sumitomo Electric Industries Ltd.
- SWCC SHOWA HOLDING Co., Ltd.
- Tratos
- ZMS Cable
- ZTT
Power Transmission Lines & Towers Industry News
- In March 2024, the Iraq Ministry of Electricity unveiled the Alexandria-Babil Broadcasting 132 kV power transmission line, spanning 18 km and supported by 63 towers. This upgrade substantially boosts the line's capacity, increasing the transmitted energy from 840 amps to 2,191 amps. As a result, energy transmission capacity is effectively doubled, accompanied by a 35% reduction in line losses.
- In February 2024, the U.S. Department of Energy unveiled a significant move of investment of over USD 1.2 billion to expedite the development of expansive transmission lines. These actions align with the nation's ambitious target of attaining 100% clean electricity by 2035, a goal that is set to bolster the adoption of such products in extensive transmission initiatives.
This power transmission lines and towers market research report includes an in–depth coverage of the industry with estimates & forecast in terms of volume in ‘km and revenue in ‘USD Million’ from 2021 to 2032, for the following segments:
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Market, By Product
- Transmission Lines
- Transmission Towers
Market, By Conductor
- Conventional
- High Temperature
- Others
Market, By Insulation
- PVC
- XLPE
- Others
Market, By Voltage
- 132 kV to 220 kV
- > 220 kV to 660 kV
- > 660 kV
Market, By Current
- HVAC
- HVDC
Market, By Application
- High Tension
- Extra High Tension
- Ultra High Tension
The above information has been provided for the following region & countries:
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- Sweden
- Italy
- Netherlands
- Spain
- France
- Asia Pacific
- China
- Australia
- India
- Japan
- South Korea
- Australia
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Egypt
- Turkey
- Kuwait
- Nigeria
- Oman
- Latin America
- Brazil
- Chile
- Argentina
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